About Unlock Tokyo: Harmony Protocol – Bringing Blockchain Research to Production For Bills

Asia Blockchain Review

September 6, 2019

BINARYSTAR and Asia Blockchain Review are organizing Unblock Tokyo – Harmony Protocol: Bringing Blockchain Research to Production for Billions on October 5th, in a major gathering of all-star developers discussing Harmony Protocol.

This event is a must-attend for anyone who is interested in blockchain and envisions its use on a much greater scale than its current application. Achieving this requires breaking through existing limitations that impede such adoption and finding more uses in order to pave the way for the technology to reach a new threshold in its development curve. During this event, we will be exploring Harmony Protocol, which has been touted as a potential revolutionizer of blockchain through its state-of-the-art integration platform.

The first hard fork of Bitcoin took place back in August 2017, resulting in the creation of Bitcoin Cash (BCH). Two months down the road, a second hard fork resulted in the creation of Bitcoin Gold (BTG). A year later, Bitcoin was hard forked for a third time, creating Bitcoin SV (BSV). The triple hard forks of Bitcoin took place due to a common underlying issue i.e. the scalability of blockchain. 

In essence, blockchain’s lack of scalability causes undue delay in the processing of transactions, as it increases the time required to put a transaction on a block and for users to reach a consensus. If cryptocurrencies are to take the fight to conventional payment system operators, it is imperative that the scalability issues of blockchain be promptly resolved, as the current transaction processing speeds of blockchain networks are just too slow. For example, Visa is able to process 24,000 transactions per second (tps), whereas the cryptocurrency with the highest transaction processing speed, i.e Ripple (XRP), can only manage to process 1,500 tps.

Harmony Protocol aims to help blockchain unleash its true potential through the use of sharding at the state and network levels, whereby each node will be carrying only a portion of the data required for the completion of a transaction. By combining the use of sharding with the Kademlia approach, which facilitates cross-shard communications, Harmony Protocol can process more than 10 million tps. If this sounds too good to be true, Harmony Protocol’s Testnet has already proved the viability of its underlying concept by recording trial run speeds of above 10,000 tps. To top it all off, Harmony Protocol’s Beacon Chains complements its Shard Chains by providing an additional layer of security.

Other than its cutting edge technology, Harmony also employs a smartly unique business model, whereby instead of competing with existing blockchain platforms it aims to complement the framework of Ethereum-based blockchain platforms through its Harmony-Ethereum Bridge. This bridge provides an application processing interface (API) through which operators of such platforms can connect their networks to Harmony Protocol’s Shard Chains and Beacon Chains.

After raising about US$18 million through a token pre-sale in April this year, Harmony Protocol followed this up with the launch of its Initial Exchange Offering (IEO) through Binance a month later in May. Having launched its Mainnet in July this year with the support of a development team consisting of engineers who have previously worked for global technological giants such as Apple, Amazon and Google, Harmony Protocol is well and truly on its way to achieving its objective of realizing the fruits of blockchain research by bringing it to production for the global population.

BINARYSTAR and Asia Blockchain Review are seizing this opportunity to discuss the features and functionalities of the Harmony Protocol. Join us in October for the culmination of several occurrences in the flagship event: Unblock Tokyo.

Expect meetups, keynotes, workshops, dinners, and parties. We will discuss the hottest topics in the blockchain and crypto space and make lasting connections with people from all around the world.

Sign on with our promo code ABR25 for 25% off your ticket price: http://bit.ly/33G3i1l


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About the author
Asia Blockchain Review

Gateway to Blockchain in Asia

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. We aim to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

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