UTU and Harmony Partner to Launch Trust Infrastructure on the Harmony Blockchain
UTU and Harmony will collaborate to deploy UTU’s trust infrastructure on the Harmony protocol.
Hello UTU Trust Guardians!
We are excited to announce that we have formed a partnership with Harmony Protocol to launch our trust infrastructure on their blockchain!
Harmony is a fast and secure blockchain for decentralized applications. Their mainnet was launched in June 2019 and supports 4 shards with 1000 nodes, 1-block-time finality, and low transaction fees. The Harmony protocol uses an Effective Proof-of-Stake (EPoS) consensus mechanism, which reduces centralization and distributes rewards fairly to thousands of validators.
Harmony has been focused on growing their cross-chain DeFi ecosystem, and our trust infrastructure fits perfectly here.
UTU’s trust and credit scoring oracles can be integrated into DeFi lending apps built on Harmony. Our AI-based oracles use on- and off-chain data to build more comprehensive and fair credit scores. This will allow these DeFi platforms to more accurately determine users’ creditworthiness, which will facilitate more undercollateralized lending.
Additionally, decentralized peer-to-peer marketplace apps built on Harmony can incorporate the UTU Trust API for trusted recommendations and reviews. UTU’s AI-based Trust API will help these apps increase trust between buyers and sellers to help increase conversions and network effects.
Over the longer term, UTU and Harmony may collaborate on cross-border finance projects and other initiatives.
UTU trust paves the way to remove some of the burdens of over-collateralization and trustlessness in the DeFi space. Partnering with UTU is aligned to our mission of cross-chain finance, where apps on Harmony that use UTU can speak to other apps not on Harmony but also use UTU. This will be a big benefit to our developers and to the users of these apps.
-Stephen Tse, CEO and Founder, Harmony Protocol
“We know the Harmony founding team really well, indeed their folks have played some key roles in the design and birth of UTU Protocol. I love to see how far they’ve come with their protocol and am super excited that we can partner with them to bring the UTU trust infrastructure to their blockchain and help expand their DeFi ecosystem with our trust and credit oracles. We can’t wait to start working together with the Harmony team.”
-Jason Eisen, Co-Founder and CEO of UTU
About Harmony
Developers can build on Harmony today, a fast and open blockchain for decentralized applications, suited to handle DeFi and cross-border finance. Harmony Mainnet supports state sharding with instant finality. Our staking mechanism reduces centralization while supporting delegation and slashing.
We ❤️ Developers.
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About UTU
UTU’s mission is to become the trust infrastructure of the entire internet, replacing anonymous star ratings, reviews, and scores as the de facto trust mechanisms of our digital lives. We do this in service of our vision — to bridge the gap between how we trust in real life and how we are asked to trust online to make the internet a safer, more trusted place to gather, share, work, and trade. We are proudly based in Nairobi, Kenya.
Learn more about us on our website, Twitter, and Telegram.
