Hamony Review and Mechanism

Convergence Mechanism

Proof-of-stake that is useful (EPoS)

It is a modest modification of the Proof-of-Stake protocol. Each shard requires 250 nodes to participate and uses a randomised sequence of all network nodes so that each time a new block is generated, a different group of 250 nodes is employed. This stops several nodes from collaborating to acquire a shard.

EPoS compensates stakeholders while preventing bad stakeholders from obtaining control of a whole shard and avoiding stake consolidation. They enhance security by implementing a downtime penalty and banning ineffective validators.

Within a Short Time, Byzantine Fault Tolerance (FBFT)

Harmony utilises Fast Byzantine Fault Tolerance, an enhanced PBFT (Practical Byzantine Fault Tolerance) consensus strategy (FBFT). It simplifies the platform's communication procedures.

This architecture guarantees that the number of tokens in the network determines the selection of validators. In other words, as the quantity of tokens increases, so do the probabilities of validators being selected, thereby eliminating the necessity for vote broadcasting. The concept has a multisignature design and mechanism.

Significant attributes

Acceleration - Transactions can be performed in as low as 2.02 seconds.

Security - The cryptographic randomness used by Effective Proof-of-Stake to re-shard the blockchain on a regular basis provides security.

Low Price - Harmony's average transaction cost is $0.0001.

Interoperability - Harmony's Horizon bridge is capable of connecting any blockchain that implements either the Proof-of-Work or Proof-of-Stake method.

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