7 Things you Need to Know About Harmony (ONE)
Sharding, Transaction Finally & Fees, Effective Proof-of-Stake, ONE Token, and more!
Harmony is a smart-contract-enabled platform founded in 2017. The main innovation of the platform is the “random state sharding” for creating blocks in seconds. This reduces the validation times significantly. Moreover, thanks to features such as Effective Proof of Stake (EPoS), and distributed randomness generation (DRG) protocol, transaction finality and fees are optimized. Harmony is one of the most promising layer 1 blockchains out there.
In this story, I am going to explain 6 things you better need to know about this project. For more info, you can also check the official documentation of the project here, and here.
#1 — Fast Byzantine Fault Tolerance (FBFT)
Harmony uses the Fast Byzantine Fault Tolerance (FBFT) algorithm for consensus. This model is an innovative upgrade to the famous PBFT algorithm. In simple words, Byzantine means traitor (or bad actor), and the BFT model can tolerate less than one-third of the Byzantine validators to reach…
