Hence, Harmony is theoretically scalable because it creates a new shard chain for each new task, the Harmony . Theoretically, shard chains can increase security. In theory, a hacker will have to crack a new shard chain every time he tries to steal Harmony data.
Moreover, the Harmony shard chains contain an adaptive threshold proof of stake (PoS) mechanism to identify owners. Theoretically, only an owner can access a construct a PoS mechanism protects.
Harmony is constructing a platform with a built-in scalability problem solution. Essentially, Harmony is building the infrastructure before the solution.
For instance, Harmony has its up and running but it is still planning its Harmony . Instead of holding an ICO, they are testing a Harmony in simulations, CEO Stephen Tse .
Moreover, Harmony is signing up Node Operators for its ecosystem before launching a or opening the system to the public. Hence, Harmony hopes to offer a ecosystem upon which users can do real stuff from the beginning.
For example, Harmony is with games developer Animoca Brands as it builds its infrastructure. Animoca works with CryptoKitties developers Axiom Zen and Dapper Labs. In addition, Animoca owns the game rights to many popular characters; including He-Man, Ben 10, Kung Fu Panda, Astro Boy, Garfield, and Doraemon.
Thus, Harmony’s ecosystem could go live with a working and games people can play from the beginning. However, Harmony seems to lack any working e-commerce solutions. On the other hand, Harmony hopes to solve this by offering a business-ready and shard chains from the beginning.
Harmony Does not want to Compete with Ethereum
Interestingly, Harmony is trying to avoid competition with and all the platforms that use that .
Instead, they plan to offer a Harmony- Bridge from the beginning. The Bridge is an API; application processing interface, that will connect the two ecosystems and allow platform operators access to Harmony’s Shard Chains and Beacon Chains.
To explain, the Beacon Chain is a bigger and more secure version of the shard chain. The purpose of the Beacon Chains is to connect the Shard Chains, and I guess to connect shard cahins to other blockchains. Thus, a Beacon Chain could serve as a network for the shard chains. To see a full explanation read Harmony’s .
By offering easy access to , Harmony can work with all the existing -platforms. Moreover, Harmony can offer those platforms’ services and products through its .
Will Harmony’s Business Model work?
For example, Harmony can offer access to and digibots, , SyncFab’s manufacturing and machining , and Yumerium’s .
Thus, Harmony could offer a marketplace full of products from the beginning. Historically, this model worked for companies like eBay (NASDAQ: EBAY), Alibaba (NYSE: BABA), Amazon (NASDAQ: AMZN), and Google or Alphabet (NASDAQ: GOOG).
To explain, those companies did not create products or services. Instead, they operate platfroms that provide access to products or services created by others. For example, eBay offers an auction platform for sellers; and Alibaba and Amazon offer platforms for merchants to sell through.
This model works because it frees the developers to concentrate on the infrastructure rather than the products. In particular, it outsources chores like marketing, promotion, and customer service to the platform’s users.
However, the platform can make money by charging users a fee or . Hence, Harmony’s business model has history behind it.
The Idealistic Vision Behind Harmony
Harmony comes with an idealistic vision based on a radical ideology. The vision is to extend property rights to data.
Essentially, Harmony wants to make data into property that every human being has the right to own and control. Therefore, Harmony wants to extend the rights compacts like the US Constitution grant to the internet, the , and cyberspace.
“Controlling your own data must be a basic human right,” Tse . This is a radical concept because it challenges Big Data’s current notion that nobody owns data and everybody can use it.
How Harmony Plans to Extend Human Rights
This is a radical extension of rights similar to that which occurred in the 18th and 19th Century. To explain, until the 18th Century human beings had no rights to their own bodies or labor.
Thus, other people could own your body and sell your labor. If you objected your owner had a “right” to whip or torture you until you went you went along.
The American and French revolutions changed that by proclaiming every human being had basic rights no government or corporation could violate. A logical consequence of those revolutions was the abolition of slavery in the 19th Century.
Harmony’s data basic right could form the basis of a new economy and a basic income, UtopiaPress’s Michael K. Spencer . In detail, Spencer thinks royalties or dividends on your data could form the basis of a basic income paid to each person who participates in a platform.
Harmony could be a disruptive blockchain platform
However, I think Harmony could be disruptive platform without the radical ideology. Harmony can disrupt because its business model of tapping venture capital and developing infrastructure that works is the future of .
To explain, Harmony could offer a scalable solution from the beginning with its sharding technology. That alone could form the basis of practical and profitable platforms.
Consequently, all speculators and investors should watch Harmony. This seemingly simple platform could be the ’s future.
Published at Thu, 25 Apr 2019 21:27:05 +0000
