Wed. May 25th, 2022

harmony blockchain

 

 

 

Here, we will introduce how the Harmony blockchain works and the Harmony NFT game “DeFiKingdoms” !

 

 

Table of Contents

1. What is Harmony Blockchain?

 1.1 Characteristics of Blockchains other than Harmony

2.Benefits of Harmony protocol

 2.1 Safe and Random Sharding

 2.2 Rapid Consensus with Immediate Finality

 2.3 Effective PoS and Token Economy

3. Introducing the Blockchain NFT Game “DeFi Kingdoms”

4. Summary

 

 

1. What is Harmony(ONE) Blockchain? ( harmony blockchain )

harmony blockchain
harmony blockchain

Harmony is an EVM compatible Layer 1 smart contract platform developed since early 2017. Harmony (ONE) is a solution developed as a blockchain that employs sharding and solves the trilemma (scalability, decentralization, security) of public blockchains.

・ Harmony is an open and fast layer 1 blockchain. Harmony’s mainnet is capable of running Ethereum applications with a transaction finality of 2 seconds (immutable completion state) and a fee of 1/1000.

・Harmony is an open platform for assets, collectibles, identities, and governance. Harmony’s secure bridge provides cross-chain asset transfers with Ethereum Binance and three other chains.

・Harmony’s consensus provides 2 seconds of finality and uniform scaling. Harmony bridges and wallets are protected by trusted smart contracts. The Harmony cross-chain architecture universally connects different chains such as Bitcoin, Ethereum, Cosmos, and EVM compatible chains.

* Sharding: A method of dividing the network into shards (shards / fragments) and distributing the load to each to speed up the processing performance of the entire network.

 

 

1.1 Characteristics of Blockchains other than Harmony

Polygon Harmony bridge
Polygon Harmony bridge

Here, we will compare Harmony and other chains.

 

Characteristics of Blockchains other than Harmony

Cryptocurrency / Blockchain

Comparison with Harmony
Solana(Solana/SOL) Layer 1

It has an optimized system, is liquid, but makes centralized decisions with expensive nodes.

Luna(Terra/Luna) Layer 1

It has a solid economic and collaborative community, but lacks Ethereum tools and on-chain scaling.

Polkadot(Polkadot/Dot) Layer 1

There are inter-chain protocols and developer grants, but slots are limited and adoption is delayed.

Avalanche(Avalanche/AVAX) Layer 1

There is innovative consensus and corporate support, but peer-reviewed research is limited.

Polygon(Polygon/MATIC) Layer 2

There are Ethereum integrations and DeFi products (Layer 2 scaling solution for Ethereum blockchain), but no uniform scaling.

Near(Near) Layer 1

There is sharding consensus and DAO governance, but there is a lack of cryptographic research.

Also pay attention to Layer 1 Polkadot/DOT.

 

 

2. Benefits of Harmony Protocol ( harmony blockchain )

harmony blockchain
harmony blockchain

Here, we will introduce the advantages of the Harmony protocol.

 

2.1 Safe and Random Sharding

polygon harmony bridge
polygon harmony bridge

Harmony transcends the blockchain * 1 trilemma by bringing the best research to the production environment. Sharding has proven to be able to extend the blockchain without compromising security and decentralization. ‍

It divides the blockchain state into shards and network nodes and scales linearly in all three aspects of machine, transaction, and storage.

Single shard attack Each shard has 250 nodes, ensuring strong security against Byzantine operation. Use a verifiable delay function (VDF) for unbiased, unpredictable shard membership.

 

* Sharding: Sharding is one of the database load balancing methods, in which one table is divided and recorded on multiple physical computers.

* 1 Trilemma: A predicament of alternatives (here, scalability, decentralization, security) in which one must be selected from three unfavorable ones.

 

2.2 Rapid Consensus with Immediate Finality

harmony blockchain
harmony blockchain

Harmony has revolutionized the tested and practical Byzantine Fault Tolerance (PBFT) to gain a quick consensus on block transactions. Harmony’s High Speed ​​BFT (FBFT) leads to low transaction fees and one block time finality on the Harmony mainnet.

Boneh–Lynn–Shacham (BLS) achieves a block time of 2 seconds by modifying the production view of a hostile or unavailable reader with a fixed size signature.

Harmony Mainnet was launched in June 2019. Harmony’s network is over 30 million blocks with over 450,000 transactions using the listed native ONE tokens.

 

2.3 Effective PoS and Token Economy

harmony metamask
harmony metamask

Harmony has designed a new Proof of Stake (PoS) mechanism for network security and economy. Harmony’s Effective Proof-of-Stake (EPoS) reduces centralization and fairly distributes rewards to thousands of validators.

Harmony’s staking mechanism supports compound interest in delegation and rewards. To support fully open participation with 100% uptime, EPoS reduces double signing data and penalizes nodes that are selected but not available.

Harmony’s model provides simple and predictable returns for your data. All transaction fees are burned to offset issuance, and inflation naturally goes to zero as network utilization increases.

 

 

3. Introducing the Blockchain NFT Game “DeFi Kingdoms” ( harmony blockchain )

defi kingdoms
defi kingdoms

Metaverse offers a unique market product for accelerating Web3 by integrating culture and technology.

DeFi Kingdoms, the most played game on Web3, was born on Harmony’s open platform. This gamed blockchain project combines the power of decentralized finance (DeFi) with the utilities of NFT.

DeFi Kingdoms using the Harmony blockchain is a browser-based game, so you need a compatible browser with MetaMask extensions installed to set up your system (Chrome, etc.).

defikingdoms
defikingdoms

In addition, you will need a Harmony (ONE) token to convert to JEWEL with gas charges and in-game. Harmony (ONE) virtual currency can be purchased at overseas exchanges such as BINANCE.

Harmony (ONE) needs to find an exchange that trades ONE such as Binance, Crypto.com, Kucoin. Next, you need to send an ONE to your MetaMask wallet.

Set up your browser and MetaMask, put Harmony ONE in your wallet, and you’ll be ready to join the game.

 

 

4. Summary ( harmony blockchain )

harmony blockchain
harmony blockchain

So far, I have introduced Harmony, a layer 1 blockchain. Harmony’s website has just been redesigned as shown in the picture above. Even just looking at this, you can feel the momentum of Harmony. Together with Solana, these two layer 1 blockchains are worth watching.

Harmony has a game called DeFi Kingdoms that is popular on Web3, and it seems to be the royal road of popular games along with YGG’s Sandbox. Gameplay is also convenient because you can play it immediately by installing MetaMask on Chrome. I think it’s easier to play because people who are selling or purchasing NFT art already have it.

It is still unknown which games will become explosively popular with NFT games like today’s online games. In that sense, it’s worth remembering the existence of DeFi Kingdoms. Also pay attention to the virtual currency Harmony (ONE).

 

Reference URL:

https://www.harmony.one/

https://docs.defikingdoms.com

By hideyuki001

ITやガジェットなどをメインに記事を書いています。ご相談は、メールまでお願いします。Tokyo Web Writer | hideyuki001

One thought on “Harmony BlockChain Introducing the Harmony and DeFi Kingdoms”
  1. […] アバランチ(Avalanche)、高速なトランザクション処理とその処理数が他のブロックチェーンよりも多い優れたチェーンです。また、イーサリアムのツールを使用できることからすぐにスマートコントラクトのDappを構築することができます。Avalancheの仮想通貨であるAVAXは、DeFi Kingdoms内で使用してイールドファーミングに使用するこもできます。また、AaveやCurveなどの流動性プールDeFiプラットフォームでも使用できるため、流動性プールを使用した仮想通貨資産の増加を行うこともできます。AVAXは、他のレイヤー1ブロックチェーンのソラナ(Solana)とも近い価格で、今後もNFTゲームや各種Dappが登場するはずです。このことからも、AvalancheはSolanaと同じく今後期待できるレイヤー1ブロックチェーンと言えます。DefiKingdomsや様々なDeFiプラットフォーム上で行う、イールドファーミングや流動性プールのステーキングは、その必勝パターンが知れ渡るとすぐに使えなくなるということが知られています(儲けがで出なくなる)。つまり、ツイッターなどで「儲かる」と囁かれたときはもう市場は変わってしまっている場合が多いということです(そのため、投資家は様々なDEXや流動性プールを渡り歩きます)。一時的に流動性プール等で儲かったという人は、自分でその法則なりやり方を見つけたわけで、それを人に教えて多くの人たちがその方法をやれば、競馬と同じでオッズも下がり、儲けも出なくなるという仕組みです。ですから、ツイッターのインフルエンサーなどの情報を鵜呑みにして、イールドファーミングに多額の投資をするのはやめた方がいいと思います。本格的に行うなら、イールドファーミングを転々とする旅人になると決意する必要があると思います。 […]

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