Harmony Protocol is a fast open-source blockchain designed for decentralized applications. It generates blocks with immediate finality in a matter of seconds and supports thousands of nodes in several shards. Their goal is to create an open network of nodes that is run and controlled by an active community.
Company details
- Founders: Alok Kothari, Nick White, Rongjian Lan, Sahil Dewan, Stephen Tse
- Founded: 2018
- Headquarters: San Francisco Bay Area, Silicon Valley, United States
Key Features of Harmony Protocol:
Uses an innovative method known as random state sharding, which divides the network into smaller divisions to increase transaction speed and lower latency.
Effective Proof of Stake (EPoS) is used to improve security and decentralization.
The native cryptocurrency, cryptonewsnavigator.com, is utilized for governance, staking, and transaction and storage fee payments.