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The Binance exchange recently announced that Harmony (ONE) has been added to the Binance Launchpad. Harmony is a sharding-based, fully scalable, proved safe, and energy-efficient blockchain for the next generation. By combining the best research results and engineering practice in an optimally tuned system, Harmony addresses the problems of existing blockchains.
Harmony is designed to build a platform that works substantially faster than Bitcoin and Ethereum, and that can operate on a Google-like scale, too.
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The Harmony beacon chain is a special blockchain for further purposes in comparison to the shard chains. In the beacon chain, as well as processing transactions, two additional key features are provided: Random number generation and stakes acceptance, meaning that stakeholders place their tokens into validators in the beacon chain, as well as others shard chain.
The focus of Harmony is on improving network usage efficiency. A number of improvements are also proposed by Harmony to address the real-world networking scenarios.
In terms of communication complexity, the consensus protocol of Harmony is linearly scalable. The leader runs a multi-signature signing process to collect the votes of the confirmators and then broadcast it instead of calling all validators to cast their votes. So each validator gets only one multi-signature to reduce the communication complexity, instead of receiving those signatures.
With the Adaptive Information Dispersal Algorithm, Harmony can quickly propagate blocks within shards or over the network. Harmony also uses kademlia routing to achieve logarithmic scale cross-shard transactions
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With such innovations as its base along with the backing of Binance Launchpad, Harmony is expected to bring in a lot of traction and investor interests.
