Harmony.one — 10Million Transactions Per Second
Tags: Scalability, Ethereum, Harmony, Cryptocurrency, Blockchain

Scalability. How can we use cryptocurrencies for the future if we cannot be able to use it now, instantaneously? Higher amount of users demands higher TPS, Harmony could address that all, here’s how works.

Introducing Harmony?

Harmony is an open, decentralized market. The Harmony protocol was created to build an open-market place on the Google-scale for decentralized economy. The goal of the project is to provide a consensus protocol through Open Internet with 10 million transactions per second and a latency of 0.1s, 0.1% fee 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.

Why Harmony is here?

Speed up the transaction

As the infrastructure for the worlds date firehose, bandwidth must scale to 10M tx/sec to support data from supply chain IoT devices or energy grids. Yet, all of the above must settle agreements within 100 milliseconds to support instant reactions for autonomous robots or on-chain quotes in exchanges.

Expand the market

Communication is the key to the future of humans and machines to create in harmony. As the gateway for microtransactions or online business, the fee must be at most 0.1% of the transaction value to support new marketplaces of metered content or fractional work. Lower fees.

Improve current resources

Employ technical innovations that are already proven in research and implementation. For example, Google’s UDP currently powers 35% of it’s traffic (or 7% of the Internet) with 50% latency improvement, OmniLedger Byzantine protocol benchmarks to 13,000 tx/sec and 1.5 sec latency with 1,800 hosts, while unikernels in Rust archives 10M concurrent connections on a standard 96-core machine on Amazon Cloud.

SCALING

13,000 tx/sec @ 1,800 hosts

Google’s UDP

Low Latency. (35% of Google Traffic and 7% of the Internet) with 50% latency improvement & zero round-trip latency

OmniLedger

Shard Practical Byzantine Fault Tolerance (PBFT) with collective signing in 0(1) size to elect continuously.

Mosaic Pull-Reduce

Process a trillion edge graph on a single 244-core maching using Hilbert-orderes tiling scheme for locality.

Deep Sharding

Harmony’s unique way of sharding all the way down to the blockchain networking layer (Exponentially faster than the traditional way of reaching consensus on a blockchain)

Getting to 10m transactions per second (math)

Currently at: 13,000 TPS using 1,800 nodes using Omniledger

Aiming for 10x improvement in 3 areas:

1. Transport Network

2. System Tools

3. Consensus Protocol

13,000*10*10*10=13,000,000

Transport Network

10x of the speed of data transport using googles QUIC built on UDP

TCP is a stream protocol which tries to ensure a reliable (ordered) sequence of bytes from point A to point B. It has mechanisms to resend lost data, to sequence them in order, etc.

UDP is a packet protocol which tries to ensure every packet is reliably sent but not necessarily processed or received in order and lost packets are not resent.

TCP is useful for when you need an entire stream of bytes. For instance, downloading a program. You can’t make do with 85% of an executable (most of the time…). Other uses would be like email, http, etc.

UDP is useful when your application is timing sensitive and can tolerate loss. Like video/audio streaming but also lower level network bridges (VPNs, etc…)

System Tools

Novel Architecture & Optimal languages

Parallel processing improvements

Kernel improvement with Unikernel

MOSAIC:Achieves 59x speedup on the most challenging distributed benchmarks.

Use the OmniLedger Consensus Protocol

Use a new approach called monopoly fees: take advantage of game theory to put the charge in order not to be wasted.

KEY POINTS

Use Blockchain technology

Harmony is a high-performance blockchain demands 10x innovations in the transport network, consensus protocol & system tools.

13,000 tx / sec @ 1,800 nodes

Programming language: Min Language (github: min-lang)

Use the OmniLedger ledger with Practical Byzantine Fault Tolerance (PBFT). This mechanism has the advantage of high speed. Disadvantage is decentralized model/ should be allowed.

Low-latency

Low-fee consensus platform

Power decentralized economies of the future

Consensus algorithms/Consensus protocol

Parallelize transaction processing

Connection latency

TOKEN METRICS AND INFORMATION

Ticker: Harmony

Total Supply: 21 billion Tokens

Available for Token Sale: 20%

Country: USA

Allocation of token supply

Sales and floating: 20% Tokens (40% no- lockup, the rest is transferred monthly in 6 months, each month with 10% bonus added, 100% will be released after 1 year lockup)

0% bonus within the last public or private sale (not target specific amount yet)

20% bonus within the first private sale (not target specific amount yet)

40% bonus, seed round (not target specific amount yet)

Founder and Team: 12% Tokens (28% will be lockup in 1 year, the rest of 72% will be paid monthly, each month 2% within 3 years).

Foundation and Research: 28% tokens (28% non-lockup in 1 year, the rest of 72% will be paid monthly, each month 1% in 6 years)

Dev and community: 40% tokens will be paid in 5 years: 28% will be lockup in one year, the rest will be paid regularly in 4 years, each month 1.5% of the rest amount.

Allocation of proceeds

40% to develop the technology of the protocol platform

20% for community joining system and programs for dev

15% for marketing and business development

10% for operating, devices and cloud servers

10% for academic research

5% for finance, legal and compliance.

CONCLUSION

Harmony is not the first project to offer this huge amount of TPS, actually there are a lot out there existing but note have done it e.g.TIM Blockchain, Credits. What made me believe much more on Harmony than these old projects is that they have an experienced team who had worked on Google, Apple and Microsoft before, so future developments and roadmap deadline would surely be hit. Technology wise, 10Million TPS is possible with the combination of Transport Network, System Tools and Consensus Protocol, it is possible.

We might not appreciate scalability for now because 13k transactions per second is real fast but how about the future? When this 7Billion people would use cryptocurrencies on their daily lives? Bitcoin right now is having problem with slow transactions, Harmony is the solution for you to buy coffee in your favorite coffee shop the next 10 years from now.

To know more about Harmony.one, kindly visit these links below :

Website

Twitter

Medium

Github

CREATOR

aervin11