Harmony’s 2021 on Cross-Chain Finance

Stephen Tse
Jan 13 · 4 min read

In 2021 Harmony strives to be a top blockchain for cross-chain finance. Our main themes are:

  1. Adoption — We are bringing utility to users through developers and partners. Hackathons with Gitcoin and workshops at Ethereum events will boost our reach.
  2. Interoperability — We are bridging with Bitcoin and Ethereum for broader assets. Our cross-shard and cross-chain transactions will enable new finance applications.
  3. Decentralization — We are growing our validator community and network features. External voting power and resharding will guarantee our long-term governance.

How to scale Ethereum applications in 2021? Harmony is a sharding protocol with a trustless Ethereum bridge. Our developers use Etherum tooling such as Solidity and Ether.js. Users use Metamask to store and they use our bridge to swap Harmony and Ethereum assets. We achieve 2-second finality for fast transactions and support 1000 delegating stakers for secure shards. A cross-chain Uniswap fork is already live on our mainnet. Similar to layer 2 protocols, Harmony is now fully interoperable with Ethereum ecosystem.

Below are the progress of our 2021 milestones. You may learn about our ecosystem growth in 2020.

Image for post
Image for post

Adoption

Image for post
Image for post
  • Toolings for Ethereum developers to migrate code with minimal changes
Image for post
Image for post
  • Workshops for developers at blockchain and fintech events to learn
Image for post
Image for post
  • Hackathons for developers to compete for prizes and feedbacks
Image for post
Image for post
  • Grants for new projects or partners to grow with incubation

Interoperability

Image for post
Image for post
  • Ethereum Bridge for Harmony applications to swap assets with Ethereum
Image for post
Image for post
  • Bitcoin Bridge for Bitcoin holders to earn from finance products on Harmony
Image for post
Image for post
  • Cross-Shard for Harmony applications to compose inter-shard transactions
Image for post
Image for post
  • Cross-Chain for any chains to communicate with Harmony as a hub

Decentralization

Image for post
Image for post
  • Voting Power for external validators to own upgrades and governance
Image for post
Image for post
  • Resharding for network to improve security and prevent single-shard attacks
Image for post
Image for post
  • Services for community to own dashboards, API, monitors and wallets
Image for post
Image for post
  • Fast Sync for network to improve performance and to enable resharding
Image for post
Image for post

For details of the milestones above, you may read our vision on liquidity infrastructure or our strategy and architecture.

The progress icons here indicate roughly with 12% when objectives are defined, 25% when a public proposal is ready, 37% when its execution is started, 50% when a minimal demo is ready, 62% when its features are complete, 75% when live on devnet, 87% live on testnet, and 100% when live on mainnet. Ideally milestones are scoped for 4 to 8 months of execution; progress should be updated monthly. Some may take a few quarters to complete.

Image for post
Image for post

Harmony

To scale trust for billions of people and create a…

Stephen Tse

Written by

https://harmony.one, Open Consensus for 10B. To scale trust for billions of people and create a radically fair economy. https://twitter.com/stse

Harmony

Harmony

To scale trust for billions of people and create a radically fair economy

Stephen Tse

Written by

https://harmony.one, Open Consensus for 10B. To scale trust for billions of people and create a radically fair economy. https://twitter.com/stse

Harmony

Harmony

To scale trust for billions of people and create a radically fair economy

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store