Thread by @cryptoPothu

#HarmonyOne in 7 tweets

Here are the most importing things you need to know about Harmony One, the original sharded blockchain.

1. #HarmonyOne was the first to implement sharding on a mainnet. Harmony is able to achieve finality in about 2 seconds. A normal transfer is extremely cheap and costs roughly 0.000021 $ONE. This is achieved through Harmony’s FBFT consensus protocol and random state sharding.

2. Sharding allows Harmony to confirm transactions in parallel which accelerates transaction validation speed. To motivate the delevation of stakes across a larger number of people, Harmony uses a novel mechanism called Effective Proof of Stake (EPoS).

3. Harmony has done a great job in solving the of blockchain trilemma by uniformly scaling with shards. Normally it is extremely difficult to achieve decentralization, scalability, and security in a network.

4. Harmony’s Horizon bridge currently transfers assets to #Ethereum and #BSC. #Bitcoin and #PolkaDot bridges are currently on the testnet. Harmony is doing a great job in bridging other blockchains in a seamless manner.

5. $ONE is #HarmonyOne’s native token. $ONE is used to pay for transaction fees, gas, and storage fees. It’s also used for on-chain governance. For running a node(minimum 10,000) or staking (minimum 100) in Harmony’s Effective Proof-of-Stake (PoS) consensus.

6. $ONE tokens earned through transaction fees are burnt. Annual issuance of tokens is set at 441 million, declining to zero over time. High network usage will lead to zero inflation. Here’s the inflation prediction by @MessariCrypto:

7. Harmony has $300 million set aside to grow the ecosystem and encourage developers to build on its platform. Some of the money will fund 100 different DAOs and some will go towards improved tooling. $20 million in grants are going to focus on improving the 1Wallet UX.

For a full guide to Harmony One check out the 101 I wrote:

https://twitter.com/cryptoPothu/status/1507516222690058244

Accounts to follow for $ONE insights:
@Gojo_Crypto @HarmonyOneDaily @harmonyprotocol @harmonyonee @DailyHarmonyone @CheekyCrypto @OneCommunityDAO @harmonyindiaDAO @kratos_harmony @harmony_coin @ussharmony @BeyondHarmony3 @AlexONE0662 @HarmonyOneStats
RT would mean a lot!

More $ONE insights:
@holygrailone @CryptoOneCafe @altocryptotitus @IsbackAloha @PacoG2021 @bloomin_one @AlexONE0662 @harmony_play @uselesscrypto @DaoHarmony @TimPos4 @iTowerONE @thecosmicguild @HeavenOneCrypto @Reflectaverse @Bricktop_ONE @MikeyMcMillions
RT would mean a lot!

Hope this was insightful. I regularly post 101s and breakdowns, follow to keep up. Check out my Medium for some of my past write ups:
medium.com/@pothu