The platform predicts that in the future it will be able to process one million transactions per second (tps). Harmony can currently process 2,000 transactions per second, a similar number to Visa, one of the biggest payment systems globally. This means validators and nodes are assigned and re-assigned shards in a random way. The ecosystem also reshards regularly through a random cryptographic process called Verifiable Random Function (VRF). In order to secure shards from malicious attacks (shards are more vulnerable to corruption than whole blockchains), each shard on the ecosystem has at least 250 nodes. Different shards process and store different types of data. Harmony (ONE) uses the process of sharding to make verifying transactions more efficient. Instead of validators working on one blockchain, sharding divides the transactional workload. Other members of the founding team include Rongjian Lan, a former search infrastructure engineer at Google Sahil Dewan, a graduate of Harvard Business School and Nick White, an electrical engineering graduate from Stanford University. Tse has founded several tech start-ups in the San Francisco area, including Spotsetter, a company that was subsequently acquired by Apple. He received his PhD in cryptographic protocols from the University of Pennsylvania in 2007. Stephen Tse, currently the CEO of Harmony, founded the company in 2017. The impressive technological evolutions that the ecosystem has developed, including its effective proof-of-stake consensus model and the process of random state sharding, have no doubt imbued investors with confidence that the platform can deliver.īut what are the possible Harmony price predictions? How will the coin perform in the future? Can the ecosystem retain its appeal in the market in 2022?īefore we investigate a Harmony price prediction for 2022, let’s briefly look at the founders of the platform, as well as its main offering. It is one of the increasingly large pool of start-ups dedicated to solving the scalability issues that have hampered the broader adoption of cryptocurrencies across the world. The problem is that as long as blockchain transactions remain slow and inefficient, the dream of crypto replacing the global banking system remains, well, a dream. From faster transaction speeds to lower gas fees to greater security, Harmony ( ONE) has positioned itself as a frontrunner in the race to speed up the mainstream uptake of crypto.
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