Making the world Harmonious

Harmony is building an open infrastructure for ten billion people, that’s fully scalable, provably secure, and energy-efficient. Harmony protocol does all this while being concentrated toward the future growth of the world, its information and financial expenditure. Founded by a diversified and skilled team of Silicon Valley engineers from Apple, Amazon, Facebook, Google, Harvard, Stanford and Berkeley, that includes expertise in blockchain, machine learning, and scaling of technology products.
“Our open infrastructure is a revolutionary high-throughput, low-latency, and low-fee consensus blockchain designed to power a global-scale marketplace of next-generation SOV, dApp, and IoT innovations.”
— Harmony Team
Interesting Facts About The World
They Grow Up So Fast
While our ancestors have been around for approximately six million years, the modern form of humans only evolved roughly 200,000 years ago. Civilization as we know it is only about 6,000 years old and industrialization started from about 1760 to sometime between 1820 and 1840. The global population of the world is currently 7.7 billion people as of April 2019 and is growing at a rate of approximately 1.08% per year. That’s an average population increase estimated at around 82 million people per year. However, the global population is still increasing and is projected to reach about 10 billion in 2050.
Humanity and the Digital Footprint
Ninety per cent of the data in the world today has been created in the last two years alone. The current output of data is roughly 2.5 quintillion bytes a day. The world is rapidly becoming more connected with an ever-increasing abundance of electronic devices that is only set to increase over the subsequent years. The world’s annual creation of data is predicted to expand ten-fold to 163 Zettabytes by 2025.
Time is Money Friend
The Financial Infrastructure supporting the economy of the world is one of the most significant developments within the last century. Yet individually, the components that provide the structure remain largely disconnected. The functional elements are slow and inhibiting. According to The International Monetary Fund (IMF), the current world GDP at its peak level as of 2019 is an estimated US$87,265 trillion. The United States is the world’s largest economy, with a GDP of approximately $20,513 trillion. Financial Infrastructure is a core part of the global economy and manages the efficiency of Intermediation, Insurance, Payment Systems and other financial products and assets.
How Does Harmony Fit In?
Limitations of Blockchain
Bitcoin on average can process about 7 transactions per second, which makes it pretty slow compared to Ethereum
Ethereum currently has around 15 transactions per second limit. That’s a significant limitation for the global exchange of data. The popularity of CryptoKitties caused a congestion crisis in 2017 resulting in slower transaction processing speeds and increased gas prices.
Harmony is solving this scaling problem using fast and secure consensus with crucial innovations in state sharding and peer-to-peer networking. Its sharding uses secure proof-of-stake and decentralized randomness, and its networking achieves optimal cross-shard routing and fast block propagation. Harmony focuses on its core foundational belief of providing 10 million transactions per second (TPS) with a 100-millisecond latency and a maximum fee of 0.1%.
Decentralized Financial (DeFi)
Harmony will revolutionize the DeFi industry by scaling for the entire world by using its open platform and strategic partnerships. While Harmony is looking to unlock new domains that are currently ignored by significant DeFi ecosystems including but not limited to insurance, benchmarking tools, inheritance, subscriptions, governance, clearing, commodities, and data monetization DAOs.
What are the most popular DeFi use cases?
Lending: Borrowing/Lending on a public blockchain with much less friction vs. traditional platforms.
Derivatives/Assets: Synthetic assets, which are derivatives of other assets, allow exposure without having the actual asset.
Decentralized Exchanges: Traders can trade on platforms that do not hold their fund’s custody.
Payment solutions: Traditionally centralized payment solutions can be decentralized to be as effective while staying censorship-free.

What are the Advantages of Decentralized Finance?
Permissionless: Anyone can access decentralized financial networks through an internet connection. No individual can be denied service based on who they are, where they were born, or how much money they have.
Programmable: Developers can create and intertwine financial services at a very low cost. Plug and play architecture helps compound the power of these services.
Transparent: Public blockchains are transparent and auditable. They retain the best of both worlds: information on financial exchanges is available while privacy can be preserved.
Trustless: Users don’t have to trust a central party to ensure that transactions are valid.
Censorship Resistant: No central party can reverse the order of transactions and deem a validated transaction invalid at some later point in time. Similarly, a central party can’t turn off the service and anyone with access can use the network.

“By creating a truly decentralized economy, we enable increased opportunities through innovative digital assets and services — all while delivering a positive social impact to the communities we serve.”
— Harmony Team
Thank you to those who expressed interest in my first medium story and asked for more. You gave me the motivation to put together another.
HSM Community: community.harmony.one
Telegram: harmony.one/telegram
Twitter: @harmonyprotocol
Discord: harmony.one/discord
Github: github.com/harmony-one/harmony
Medium: medium.com/harmony-one
Official Website: harmony.one
Whitepaper: harmony.one/pdf/whitepaper.pdf