Introduction to Harmony
Harmony is a high-volume blockchain project that aims to turn the world into an open market and support the economy of decentralization that will come by operating at a very high level. The Harmony Group aims to provide consensus protocols through open internet, which can facilitate 10 million transactions per second (TPS) with a delay of 100 milliseconds and a maximum cost of 0.1%.
The team aims to build platforms that operate significantly faster and cheaper than Bitcoin and Ethereum, and can operate on the same scale as Google. Therefore, they were formed to rebuild a decentralized economy by focusing on and innovating several key components, including:
Traffic network - UDP table, Bloom from Google, 5G mobile.
Consensus Protocol - Byzantine commissions, acyclic charts, exclusive fees.
System tools - Unikern, multi-core in Rust, transmits without copying.
UDP Google currently offers 35% of traffic (or 7% of the Internet) with latency increasing by 50%, while the OmniLedger Byzantine protocol is up to 13,000ps and a 1.5 second delay with 1,800 servers. In addition, Unikernels in Rust stores 10 million concurrent connections on 96 standard core machines on Amazon Cloud, so the Harmony group feels that by using technical enhancements to proven structures in research and deployment they will be able to create high-speed, low-cost blockchain infrastructure that able to support real world industry.
Harmony has also outlined a number of important benchmarks including transaction costs of up to 0.1%, to support new markets for measured content or segment work. In addition, because infrastructure is proposed for world fire data, their bandwidth must be expanded to 10 jutaps to be able to process data from IoT supply chain devices and financial institutions. main network or energy. Most importantly, the platform must deal with agreements in 100 milliseconds to support direct responses to autonomous robots or offers on chains in exchange.
What is Harmony?
Harmony is an open and decentralized market. The Harmony protocol was created to build an open market place on the Google scale for a decentralized economy. The purpose of this project is to provide a consensus protocol through Open Internet with 10 million transactions per second and 0.1 seconds latency, a cost of 0.1% compared to the transaction value. Harmony will help speed up and accommodate up to 1000 times, expanding the market to around 10 billion people and 100 billion devices.
What is the Harmony application?
# Speed up transactions
# Expand the market
How does Harmony speed up thousands of times and expand their transactions to tens of millions of times?
Harmony focuses primarily on three aspects: transportation networks, consensus protocols, and system tools.
# For Netwrok Transport:
Google's UDP based network (Google User Datagram Protocol), also known as QUIC (UDP Fast Internet Connection), accounts for 88% of Chrome Traffic, 35% of Google Traffic and 7% of Internet Traffic. QUIC increases the combination of various cases and reaches Zero Round-trip latency. Broadcasts without alternating back and forth make synchronization stronger and resistant to changes and instability.
Explain to QUIC:
UDP Fast Internet Connection: A new protocol for websites is developed above UDP, not TCP
Now websites are being built on TCP because of the reliability of the transmission protocol.
To start a TCP connection, a 3-way handshake is displayed. This means that a round is added (network packets are sent to and returned many times) and new connections are delayed.
In addition, to use TLS on TCP, more trips are needed back and forth (network packets must be sent to and returned several times) and thus the transmission speed will decrease.
UDP (user datagram protocol), one message is sent as if it has reached its destination. However, something must be built on the UDP protocol to validate packet forwarding for certainty.
The QUIC can initiate a connection and forward all TLS class parameters in 1 to 2 dependent network packets to see whether the connection server is a new or verified server.
QUIC does not need to use TLS because it itself implements its own encryption layer.
So one connection structure is: IP-UDP-QUIC-HTTP / 2 API
The structure with TCP is: IP-TCP-TLS-HTTP2
TLS (transport layer security) -https is an updated version of SSL (secure sockets layer) which is a global technology security standard that creates links between web servers and browsers.
Use a new technique for transaction propagation: Bloom Tables (used to make reconciliation and coding), which allows communication between fractions on a constant scale, not just a small part of the total size.
# System tools:
Remove obstacles in protocol implementation
Use the Unique Kernel
# Consensus protocol:
Use the OmniLedger Consensus Protocol
Use a new approach called monopoly costs: take advantage of game theory to put costs down in vain.
How to make Harmony's security good?
Use language-based security (Use Min programming language): Apply this language-based security technology to decentralized applications, protect from accidental errors or malicious attacks including ordering transactions.
Supports 1000x transactions
About Products
Ready for products
The group released a public Github page with an MIT open source license. The Min development (Harmony's exclusive programming language) can be seen, the security verification programming language eliminates the general dependency of library or system tools. Current compilers manually bootstraps under x86-64 instructions and development support on MacOS. This group also states that Min is compiled into a Java VM without third party tools in unpublished repos.
In addition, the group is scheduled to confirm that the OmniLedger protocol on Go can maintain 10,000 shots and detrimental attacks with 10,0000 nodes in the second quarter of 2018. They are also scheduled to advance. with the formation of a team of 5 engineers and money guarantees through a seed loop. The project is currently recruiting new engineers and seems to have received a $ 18 million grant so that everything seems to go according to plan.
Two additional validation benchmarks have been set for the third quarter. This group verifies that the algorithm is not locked and distributed in Rust linearly in the 96-core kernel on Amazon Cloud and that Google UDP maintains broadcasting 100 ms latency with 10,000 nodes and 10 Gbps saturation links. After completion, the group is also scheduled to open a public benchmark of up to 10,000 nodes in the third quarter of this year.
Space in the market & competitive landscape
Harmony seeks to provide a high potential blockchain infrastructure to expand and handle high-speed transactions at low costs. As a result, the project faces competition from platforms that try to do the same things like EOS, Cardano, Hashgraph and Zilliqa. There are also high-performance Blockchain projects, Dfinity and Seele are facing similar problems and Harmony is entering a fairly crowded field that will only continue to attract participants. The team claims that the ability to implement and improve systems that exist effectively such as OmniLedger will help them gain a competitive advantage over competitors. They often strive to master proven innovations in practice and focus on key components of transportation networks, consensus protocols and system tools.
Price of competitor:
- EOS, worth $ 14 billion.
- Zilliqa, worth 700 million dollars.
- Hashgraph, an increase of $ 300 million.
- Thunder, worth $ 100 million.
- Dfality, an increase of $ 100 million.
- Kadena, has made 12 million dollars.
- Algorand, has collected 4 million dollars
Potential market scale
Although there are a large number of projects aimed at solving the same problem, there is still a large market for Harmony groups that are targeted. Scalability is still an important problem in the blockchain economy and every project that can solve problems and attract users to their platform will experience value appreciation.
Harmony plans to compete with projects such as EOS currently worth $ 10 billion, Zilliqa worth around $ 700 million and the Hashgraph worth around $ 300 million. In addition, projects such as Dfinity, which have sought to mobilize around $ 90 million in their ICO, show that the high volume blockchain field is one of the larger industry segments that are always able to make money.
Because the problem of producing high-performance blockchain that can operate in the real world has not been resolved, the Harmony platform will be a viable choice for the world of commercial technology if the group can fulfill its promise. I.
Innovation & Intellectual Property
Harmony operates as a fully open source project and has provided complete code for viewing on Github for native X86-64 / JVM compilers and open development communities.
Basic information about ICO and Tokens
ICO time: no crowdsale. Only round seeds and TWO individual rings
Sold separately: Quarter 3-2018
Token: HAR (unofficial)
Type of tokens: it is possible to use ERC-20 during the sale period, by switching to a personal wallet when it is launched
Hard hat: $ 30 million (unofficial)
Price: There is no data
Minimum investment: No data
Bonus: up to 40%
Bonuses: 40% in seeds, 20% in first sales and 0% in second sales.
Received: ETH
Without participation: There is no data
Share tokens
Share tokens:
- Sales of 20% and floating
- 40% Developer & community (open, exploit, airdrops benchmarks)
- 28% Foundation & research (publication reviews, research funds, reserves)
- 12% founders & groups
Use of mobilized capital:
- 40% for technical development of the protocol platform
- 20% for community participation, developer programs
- 15% for marketing, business development
- 10% for cloud operations, devices, and servers
- 10% for collaboration with academic research
- 5% for compliance, law, finance
Protection measures against depreciation tokens
Sales & floating tokens: 40% unlocked, 10% monthly for 6 months; Remove 100% after 1 year key.
Tokens for developers and communities: 1 year course 28%, 1.5% monthly for 4 years.
Platform and research tokens: 28% non-binding, 1.0% every month for 6 years.
Founder & group token: 1 year 28%, 2% every month for 3 years.
Roadmap
Quarter 2, 2018:
- OmniLedger protocol validation in Go / OCaml which maintains 10,000 tx / sec and prevents simultaneous attacks with 1000 nodes (meaning accessing the same time from 1000 nodes to the server or home page).
- Complete the legal token distribution model.
- Form a team of five engineers and collect $ 2 million in seed rounds.
Quarter 3, 2018:
- Start a public standard testing program for 10,000 nodes.
- Validate key-free algorithms on a linear-rust scale on a unique 96-core kernel on Amazon Cloud.
- Validate UDP Google that manages Broadcast with a100ms latency with 10,000 nodes and 10 Gbs of bandwidth (saturated 10 Gbs Links).
- Increase funds (no information) in the first Personal Token presale.
Quarter 4, 2018:
- The Open Harmony mining process tokens are published with Testnet and Token Economics.
- Optimize up to 10,000 IoT devices, self-controlled robots, and supply chain operations.
- Increase funds (there is no information) in the last presale of the personal token.
2019:
- Optimize payments for financial organizations up to 100,000 tx / second
- Optimize 1 million nodes with 100,000 tx / sec and 1s latency
- List of Harmony Tokens at Crypto Exchange.
- Contract support, anti-union, multi-signatures, and customer transfers.
Team
Full Time Human Resources:
A. Stephen Tse: He graduated with a Ph.D. from the University of Pennsylvania, US Top 11 and Top 19 in the whole world. Founder of Harmony and AI voice. Founder of Spotsetter - a social search engine that was acquired by Apple Inc.). Previously he was a researcher at Microsoft Research. One year of experience as leader of the Apple engineering team and four years as a senior Google engineer.
b.Michael Slinn: A degree in computer science and engineering, 12 years as owner of the Micronautics Research Corporation - a computer software and blockchain company. Experienced as an engineer and founder of many small and medium computer companies for many years. Present at the Crypto World Economic Forum (event in the Blockchain series)
c. Nicolas Burtey: Founder and COO (Chief Operating Officer) of the Harmony project. A medium sized VR video startup was founded in 2012, and sells software to customers in more than 70 countries. Experience working as a freelancer for photography and editing. He holds a bachelor's degree in computer science and a master's degree in computer photography
d. Alok Kothari: He has been a machine learning engineer at Apple (Siri) for 2 years and 8 months. Former research associate at Qatar Computing Research Institute (QCRI), graduate research assistant at Carnegie Mellon University (ranked 25th in the US), and software analyst at Adelement (web platform). Derivative transactors in a medium-sized private limited company have 500 people called Future First.
e. Rongjian Lan: Currently working as an engineer for Google for 4 years. He obtained a bachelor's degree from Beijing University of Science and Technology (top 31 in China) and a master's degree from the University of Maryland (ranked 61). He has been a research assistant at the school he studied and is a graduate student at the FDA's ORISE. He has been studying the decentralization protocol since 2017. He has little experience in the blockchain (one of the founders of the ABC Blockchain Foundation but the website does not yet have information).
f. Hakwan Lau: A full professor at the University of California (ranked 21st in the US). He specializes in neuroscience and machine learning. He is an associate professor at Columbia University and publishes more than 66 papers in peer-reviewed journals. With Harmony, he explores the relationship between the protocol of probabilistic consensus and brain communication. Hakwan also studies modeling the preservation of data privacy for mental patience on the blockchain.
Part Time Human Resources:
g. Trausti Kristjansson: Experience working as Amazon's Head of Science Research lab. Director of the InvenSense Audio Algorithm and former Founder and CEO of a startup. Win awards at AAAI - Top academic conference in Artificial Intelligence. He received his doctorate in computer science and machine learning from the University of Waterloo in Canada and has years of experience in speech recognition at IBM and senior engineers at Google.
h.Bruce Huang: Former chief technology officer at Creditcase (a Fintech company), Director at Alibaba Cloud Computing, years of experience working as a software engineering manager at Microsoft.
Consultant:
I. Georgios Fainekos: Graduated with a Ph.D. from Pennsylvania University, Top 11 in the US and Top 19 in the world. He is currently a permanent professor at Arizona State University. Experience as a mechanical engineer and complete a lot of research in software
Partners
The project website lists ten partners and twelve investors.
Conclusion
This project has a beautiful wrapper, like other projects that carry out the IEO. Harmony creates a trustworthy project image thanks to their ability to immediately answer any question, develop a community, and enter into a partnership. The team also has an impressive academic and technical background. In fact, for many reviewers, the existence of testnet is only sufficient evidence of MVP.
But still, let's put the pink glasses aside. Harmony is a stack of thick forks. Even if the team combines all the technology, it won't work. And this is not an iPhone, where all components are tested in practice and specifically sharpened by engineers to become part of cellphones. This is just a set of high-level practicum concepts that require a lot of work to become something practical at all.
Take Zilliqa, who has struggled with sharding for years and is still struggling. Most likely, Harmony is on the same track. They launched mainnet in June, as announced, and plunged deep into debugging or, like other fractional projects, only delayed the launch date. Overall, the market has been filled with the "fastest" blockchain that has nothing to do with the practical use brought by Ethereum. Does the market really need anything else?
And for the team. Try to mention at least one active product made by one of them, the product they launched and increase it to at least ten thousand active users. Anyone can write "Apple," or "Google," or "Amazon" on their LinkedIn account, but do they know how to bring real benefits to real people?
$ 18,400,000 for too many seed rounds. Usually, no one has ever given that kind of money to a round of seeds, let alone to tokens. Seed rotation is the most risky round, where the minimum amount of money is allocated to run a minimum minimum product: from $ 25,000 to $ 1,000,000 per company share. A group of Github forks is unlikely to be estimated at $ 82,000 000!
By law, the project is murky - company structure, state registration, initial investment report submitted to the SEC, nothing public. Everything is a mystery for now. But maybe we will get this information when the project comes to the IEO.
That is all. Please applaud or comment harshly if you see an error in the text. Thank you!
Find out more about the project here:
Website: https://harmony.one/
Twitter: https://twitter.com/PcorePCC
Telegram: https://t.me/harmony_one
Author Sengkuni
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2215475
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