Harmony Fundamental Report
Summary Harmony is a blockchain platform that makes it easier to create and use decentralized apps (DApps). The network focuses on random state sharding, which allows for the creation of blocks in seconds, with the goal of revolutionizing the way decentralized apps work. Opportunity The idea of blockchain has grown around the world since the publication of the Bitcoin whitepaper in 2008. As Bitcoin got popular, the performance bottleneck of its restricted throughput of ~7 Transactions Per Second (TPS) became apparent, and the cost of using it as a payment system became prohibitively high. Ethereum launched a novel blockchain architecture that allowed developers to implement a variety of blockchain applications using "smart contracts" in 2014. Nevertheless, Ethereum could not solve the scalability issue and, with just ~15 TPS, was unable to handle high-throughput applications like DEcentralized Exchanges (DEX) or gaming. Many blockchain projects offered numerous ways to boost ...