Harmony (ONE)

Blockchain Infrastructure

Harmony is a fast, secure, and scalable blockchain that supports decentralized applications (dApps) with 2-second finality and low fees. It uses sharding to increase throughput and reduce costs.

Cross-Chain Compatibility

Harmony bridges with Bitcoin and Ethereum, allowing users and developers to move assets and scale Ethereum-based applications easily.

Decentralized Applications

Harmony supports various dApps including games, decentralized exchanges, AI data marketplaces, and social finance platforms.

Developer Ecosystem

Harmony offers Ethereum-compatible tools, cross-chain APIs, and unique features like on-chain randomness and fast state sync to help developers build and scale applications.

Use in Finance and AI

Harmony enables micro-payments, smart contracts for market pricing, and supports AI-driven applications with on-chain tokens and privacy features.

Pros

• Harmony is highly scalable, meaning it can handle many transactions quickly.
• Transactions are fast and have very low fees.
• It has a low barrier to entry for validators, making it easier for people to participate in securing the network.
• Users can earn high returns through staking their tokens.
• Harmony uses a unique sharding technology that helps improve speed and efficiency.
• It supports cross-chain interoperability, allowing it to work with other blockchains.

Cons

• Harmony is a relatively new project, so it is still growing and developing.
• As with many crypto projects, it faces competition from other blockchains with similar goals.
• Some users may find the technology complex to understand at first.
• The ecosystem and adoption are still expanding compared to more established blockchains.

Founders of Harmony

• Stephen Tse is the founder and CEO of Harmony. He has a background as a Google Senior Infrastructure Engineer and Apple Search Ranking Engineer.
• Co-founders include Rongjian Lan, Sahil Dewan, Nick White, and Leo Chen. They are experienced engineers who previously worked at major tech companies like Google, Apple, and Amazon.

Together, they launched Harmony in 2018 to build a fast, scalable blockchain platform.

Strategic Investors

Harmony raised $18 million in a token sale from strategic investors in 2019. This group includes private investors who supported the project early on.

Initial Exchange Offering (IEO) Investors

An additional $5 million was raised through an IEO on Binance Launchpad, attracting investors who bought tokens during this public sale.

Team and Development

Part of the token distribution is allocated to the Harmony team and ongoing development, reflecting internal investment in the project’s growth.

Notable Backers

Binance Labs is a key investor, having contributed significant funding to help develop the protocol and ecosystem.

These investors helped fund Harmony’s development and support its mission to build a fast, scalable blockchain.

Halal Status of Harmony

Yes, Harmony is considered halal. It operates a secure, scalable blockchain that supports decentralized applications and staking through a Proof-of-Stake system, which aligns with Islamic finance principles. There is no known conflict with Shariah guidelines in its design or use.