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Harmony: Improving Economies Through Decentralized Advantage

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INTRODUCTION

If the digital community will ever amount to something in the financiaI world, it has to give out more than what it is able to give especially when it comes to using the cryptocoins for payments. What holds it down still it the poor level of scalability of this coins. Its inability to scale beyond 40 tps is quite disheartening to hear because the need for it to fit into use in the global market for payments demands something higher. Now everyone look up to see the scalability of the community improved so that there can be improvement to a certain degree where they can be boldly accepted by merchants during any operations.

This is the reason for the existence of Harmony that aims to bring the block chain to scale higher above the past and make good difference and improvement.

WHAT DESCRIBES HARMONY?

This platform is the next big thing in the ledger chain which aims at improving the use of cryptomoney through values it will be adding to the system. Its innovation is very timeless and trusted for any form of networking in the community. It has a team that has worked together and are still together to make sure they see the results they have predicted the platform to bring if all things are the same. The platform is very special from others that have existed before it.

When Harmony is compared with other platforms, it is confirmed that it is more improved with the way it uses a state Sharding which enables it to process many transactions at the same time and be safe for doing that. In this case, thousands of nodes will be used in contrast to how others used some few hundreds and that will increase the amount of operations being processed at a time. The entire information of the transactions being processed will be kept safe in the ecosystem and this will make decentralised solutions embraced. This type of technique is therefore known as the deep Sharding technique and in it, not just only transactions are sharded but also there is a consensus between those layers involved, talking about the nodes that are involved.

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THE FEATURES OF HARMONY

This platform uses so many tools to make sure it expands the scalability of the community. It has a distributed randomness generation (DRG) to manage the nodes and perform necessary division when necessary and then it works on the speed and safety in general. All these tools are well used as a well coordinated version of ETHEREUM 2.0 and it eliminate every from of attack on the system.

Assigning different nodes to shards requires some level of professionalism that makes the security of the system stronger than it is. In this case to reduce attack, the system uses a random number generation scheme or model to connect different nodes to shards and have them work as one within the ecosystem. This will be done without giving any idea of the shards that will eventually be for a particular node and that will make everything perfect with no biasness in the activities. All the numbers that will be generated should also be subjected to verification and then the algorithm used must be confirmed scalable at all time because without that it will no provide the exact result.

Harmony has its strength from a special VRF and VRF protocols which works this. A VRF-based number is produced randomly from the validator node and then the random number is sent to the leading node for action. The t random numbers is taken by the leading node and actually have the final numbers generated from what is provided from the data it receives and then the next job is up to the VDF protocol that ensures that the process is secured and then a consensus algorithm is adopted to establish full scalability from what has been done already from the established consensus protocol.

This platform has such a bigger picture of the block chain scalability in mind and that is what makes the team works tirelessly to ensure that something very moment is gotten from the operations.

CONCLUSION

Now that all the right protocols are already kept in place, the testnet will make it able to scale up to more than hundred of thousands transactions per seconds with several thousandsnof nodes also involved in the operations. This improvement enhances the use of cryptocoins for all and make it easy for it to scale higher and better than Visa and master cards that are always accepted by merchants. Harmony will succeed in Increasing the sphere of cryptocurencies such that individuals will have no limitations using them and they can be adopted in all sector without any difficulties. I hereby advise that everyone be a part of the system.

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Harmony: Improving Economies Through Decentralized Advantage. (2022, February 21). Edubirdie. Retrieved February 1, 2023, from https://edubirdie.com/examples/harmony-improving-economies-through-decentralized-advantage/
“Harmony: Improving Economies Through Decentralized Advantage.” Edubirdie, 21 Feb. 2022, edubirdie.com/examples/harmony-improving-economies-through-decentralized-advantage/
Harmony: Improving Economies Through Decentralized Advantage. [online]. Available at: <https://edubirdie.com/examples/harmony-improving-economies-through-decentralized-advantage/> [Accessed 1 Feb. 2023].
Harmony: Improving Economies Through Decentralized Advantage [Internet]. Edubirdie. 2022 Feb 21 [cited 2023 Feb 1]. Available from: https://edubirdie.com/examples/harmony-improving-economies-through-decentralized-advantage/
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