![]() Transactions are handled individually by each shard depending on the shard id supplied in the transaction, allowing shards to execute transactions in parallel, considerably improving the blockchain's overall transaction processing efficiency. Harmony separates not just their network nodes but also the blockchain states into shards, which scale linearly in all three elements of machine transactions and storage. The harmony blockchain employs safe random state sharding to grow the blockchain while maintaining security and decentralization. As a result, the members of a cryptocurrency network must agree on the present state of the blockchain, which is referred to as a consensus. Harmony's PoS method is the first on a sharded blockchain to provide both security and decentralization. Harmony is a sharded proof-of-stake (PoS) blockchain that employs an efficient proof-of-stake consensus architecture to reduce centralization and distribute rewards equitably across thousands of validators. 1,575,000,000 ONE tokens (12.5% of token supply) were offered in the IEO. ONE token's IEO happened from May 29, 2019. Steven Tse with the help of a team of engineers. Harmony launched as a startup back in 2018 by Dr. Harmony has a total supply of 11,586,532,800 ONE tokens used to pay for operating in the ecosystem. ![]() What if you want to create a marketplace of NFTs, but don’t like the high gas fees on Ethereum exchanges? Harmony could be used to build an alternative marketplace with lower fees. It might be easier to understand what Harmony is capable of with an example. It can also support higher scalability and reliability. One of the things that make Harmony’s underlying technology so special is that it uses sharding to provide fast transaction speeds in an energy efficient way. ![]() Consensus is achieved when all members of a cryptocurrency network agree on the present state of the blockchain. Harmony's effective and energy-efficient PoS consensus approach makes it possible to offer both security and decentralization in a sharded blockchain. Harmony operates as a sharded proof-of-stake blockchain that eliminates centralization and compensates thousands of validators evenly. Harmony also makes deploying DApps on the blockchain easier than ever. Like its namesake, Harmony seeks to help make the development of decentralized apps (DApps) easier and more “harmonious”. What is Harmony (ONE), and How Does It Work? With that being said, let’s explore the value of Harmony, its implementations, and value over the next few years. Please note that this guide is educational in nature, and that you should always do your own research and due diligence before investing in any digital asset. ![]()
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