What you need to know about Harmony (ONE)

What Is Harmony (ONE)?

Harmony is a blockchain platform designed to facilitate the creation and use of decentralized applications (DApps). The network aims to innovate the way decentralized applications work by focusing on random state sharding, which allows creating blocks in seconds.

According to the project’s website, Harmony is expected to introduce cross-shard contracts and a cross-chain infrastructure by the end of 2021.

The live Harmony price today is $0.094587 USD with a 24-hour trading volume of $159,813,383 USD. Harmony is up 11.90% in the last 24 hours. The current CoinMarketCap ranking is #87, with a live market cap of $878,372,944 USD. It has a circulating supply of 9,286,427,342 ONE coins and a max. supply of 12,600,000,000 ONE coins.

Who Are the Founders of Harmony?

Stephen Tse is the founder and CEO of Harmony. He has a Ph.D. from the University of Pennsylvania, specializing in cryptographic protocols and type theory.

While finishing his degree, Dr. Tse became a research intern at Microsoft. In 2006 he started working as a senior engineer at Google, spending four years in the company. In 2011 he founded Spotsetter, a successful search engine which Apple later acquired. In 2014, Dr. Tse became the principal engineer for Apple. 

He founded Harmony in 2017. The Harmony founding team comprises twelve people, with seven of them being former employees at Google, Apple, Microsoft, and Amazon.

What Makes Harmony Unique?

Focusing on processing speed and validation, the Harmony mainnet aims to revolutionize block creation. By introducing the sharding process, the company reduced node validation times significantly. 

To ensure the protection of nodes and secure the validation process, Harmony introduced the Verifiable Random Function (VRF) for unbiased and unpredictable shard membership. This means that nodes and validators are assigned and re-assigned in a randomized manner. 

The project’s Harmony Grants program is an initiative that aims to support innovation and attract developers to the Harmony mainnet.

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