Thus Honest Mining is coming back with a new coin on hand to list! Introducing Harmony (ONE), with its sharding technology ready for blockchain scalability and decentralization.
Blockchain and Its Challenges
Blockchain started as the solution for transaction decentralization, with the first milestone marked by Bitcoin. Although this idea itself is fabulous however it sure face some challenges, and one of them is scalability. With the speed of around 7 transactions per second, Bitcoin network soon meet bottleneck and it made transactions costly. Ethereum came with the better speed at around 15 TPS but it is still far from ideal speed for mass adoption of blockchain.
A New Breakthrough, Sharding Blockchain
Sharding technology is implemented to answer those challenges. It was first introduced by Zilliqa, however, the sharding does not divide the storage of blockchain data. Then the sharding process is also prone to single-shard takeover attack because of the randomness generation process of PoW. Harmony today offer a better sharding technology, solving consensus at scale to power decentralized economy.
Harmony made a breakthrough in six aspects. First, it is fully scalable, which shards network communication, transaction validation and also the blockchain state (storage of blockchain data). Second, it implements secure sharding, in which implemented DRG (Distributed Randomness Generation) that makes the process unpredictable, unbiaseable, verifiable and scalable. Third, it offers efficient and fast consensus, since it is based on PoS, not PoW. Fourth, it is based on Adaptive-Thresholded PoS, where the threshold of stakes for a node to join the network is adjusted to the volume of total staking so there will be no single-shard takeover attack. Fifth, it has scalable networking infrastructure that can multiply blocks fast across the network in the form of shards using Adaptive Information Dispersal Algorithm. Last but not least, Harmony promises consistent cross-shard transactions, where shards can directly communicate with each other.
With those capabilities, Harmony pledged to provide the world with a scalable and secure blockchain that is able to support a decentralized economy. Harmony will make many applications possible and feasible, including high-volume decentralized exchanges, Visa-scale payment systems, etc.
Source: Harmony (ONE) whitepaper
Honest Mining Supports Harmony (ONE)
“Honest Mining is happy to support Harmony ONE goal, building a blockchain for 10 billion people. ONE ambitious sharding & EPoS infrastructure needs a lot of validators, and with Honest Mining, everyone can be part of the network and enjoy the staking rewards.”
Lawrence Samantha, CEO of Honest Mining
Honest Mining has been working on partnership and new coin listing in recent months and we are happy to call Harmony (ONE) our partner. As the largest Staking as a Service platform in South East Asia, Honest Mining opens up a whole new market for Harmony (ONE) node in the region. Honest Mining will open shared nodes service of Harmony (ONE) for users to stake in and to earn rewards at ease. You can start deposit ONE on the platform on September 4, 2019, and staking on September 5th, 2019 right after AMA session ended. Join us as one of the validators and earn ONE as passive income here.