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The Harmony project aims to develop an advanced blockchain infrastructure that is scalable, secure, and energy-efficient. It offers adaptive-thresholded PoS, scalable networking infrastructure, and consistent cross-shard transactions. This way, it effectively handles connection latency and enables throughput to scale with the size of the network. Although the project's market performance cannot be examined at this early stage, the financials of the Harmony project are strong as the hardcap of USD 5 million was reached. Additionally, the project raised USD 18 million from seed funding. Many team members have experience in large corporations such as Apple, Google, and Amazon, which further increases the credibility of the team and the likelihood of the project to succeed.
Whitepaper & Documentation
As a largely technical whitepaper, the document lacks details regarding the business plan. Some information has been included in the introduction, which pieces together their plan.
The whitepaper of the project is a highly technical document of over twenty pages. Overall, it provides sufficient and relatively detailed information regarding the functioning of the blockchain and other features of the project, such as the sharding mechanism. It also offers details about the consensus mechanism and operation of the blockchain.
Legal & Disclaimers Description
There are no legal disclaimers in the whitepaper or on the website.
Roadmap & Milestones
The roadmap is available on the company's website. It covers the period from Q2 of 2018 to Q4 of 2019. Completed milestones are shown on the roadmap, while planned milestones are simply written in text. The details provided in the roadmap are modest but sufficient for the purpose.
Team & Advisors
The team seems capable of leading the project. Many of the members have previous experience in large corporations such as Amazon, Apple, Google, and Microsoft. All team members have shared information about themselves on social media networks such as LinkedIn. Harmony has four advisors, who seem experienced in their respective spheres and often have backgrounds in advising other blockchain startups.
Stephen Tse is the Founder & CEO of Harmony. He has extensive experience in corporations such as Apple, Google, and Microsoft. Stephen was the Senior Engineer at Google for four years. He then founded the Spotsetter company (a social search startup), where he spent three years. The company was eventually acquired by Apple, where Stephen Tse remained for another year. He studied for his Bachelor's and Master's degrees at Simon Fraser University in Canada. He earned a PhD in Cryptographic protocol from the University of Pennsylvania.
Nicolas Burtey is a Co-Founder and Chief Operating Office of Harmony. He was a QA and Support Engineer at DxO Labs for a year. He spent over four years as a freelance photographer. Nicolas also founded Orah – a company focused on bringing the highest quality live 360-degree video content creation tools to producers and creatives. He holds a Bachelor’s degree in Mathematics and Computer Science and a Master in Computational Photography.
Alok Kothari is a Co-Founder of Harmony. He worked as a Derivative Trader at Futures First Info, based in India. He was employed as a Research Assistant at the University of Stuttgart and the Qatar Computing Research Institute. Alok later became a Graduate Research Assistant at Carnegie Mellon University for two years. He continued as a Machine Learning Engineer at Apple for nearly three years. Alok earned a Master's degree in Computer Science from Carnegie Mellon University.
Eugene Kim is an Engineer at Harmony. He worked as the Principal Software Engineer at NTT Multimedia Communications Laboratories for over fourteen years. Later on, he continued his work as Senior Software Engineer at Blizzard Entertainment for nearly two years. Eugene was at Amazon Web Services at a similar position for three years. He studied Computer Science at the Korea Advanced Institute of Science and Technology.
Helen Li is the PR Representative of Harmony. She was a Senior Journalist at Bloomberg Businessweek for over two years. Helen Li was also the Chief Writer at CBNweekly for a year and a half. She was also the Head of PR and Marketing at DxChainNetwork. Helen Li earned a Master's degree in Communication and Media Studies from the City University of Hong Kong.
Chao Ma is an Engineer at Harmony. He spent four years as a Research and Development Engineer at Ricoh Americas Corporation. Then, he became an Applied Scientist at Amazon for almost two years. He studied for a Bachelor's degree in Mathematics at the University of Science and Technology of China. Chao Ma continued his studies, earning a Master's degree in Mathematics from Zhejiang University. He also received a PhD in Mathematics from the University of Colorado at Boulder.
Team Skills and Experience
Overall, the team members are highly experienced in their respective spheres. Skills are balanced, and there is no significant deficiency. There are many members with software development skills in particular.
Advisors Background, Experience and Feedback
There are four advisors listed by the project. They are all experienced in their respective spheres, including finance and software development. At the same time, none of them has shown participation in the project on their personal social media page.
Private Investors, Venture Capitals, Incubators
The company has a number of investors, including Continue Capital and Consensus Capital.
The project has nine partners, including Nomica and Picolo.
Speed of Selling Out
The speed of selling out was two days.
No airdrops have been conducted.
Talk on Project
The opinion of the community towards the project is largely positive. People are excited about the partnership between the Binance exchange and Harmony. The company also has solid investor backing, which is a further reason for the excitement.
Technology & Development
Product Development Progress
Harmony has released its public testnet. People can interact with the testnet through the wallet, block explorer, and block benchmark.
Blockchain Technology Usage and Innovation
Harmony aims to be fully scalable and have secure sharding, efficient and fast consensus, adaptive-thresholded PoS, scalable networking infrastructure, and consistent cross-shard transactions. It uses principles such as sharding and pipelining to parallelize transaction processing. According to the project, this effectively handles connection latency and enables throughput to scale with the size of the network. Harmony applies zero-knowledge proofs for data sharing in order to preserve the consumer's privacy. Although the project is highly advanced and incorporates new technologies, the Harmony platform is not revolutionary.
Dependencies to Third Party Platform or Service
The project is not dependent on third-party technological infrastructure.
Decentralization of the System
The threshold of stakes required for a node to join the network is adjusted based on the volume of total staking. Moreover, the threshold is low enough so that small stakers can still participate in the network and earn rewards. Harmony's team aims to make the blockchain solution fully decentralized and to eliminate the need for any trusted third party. The project will have some limitations in the beginning; thus, it can be seen as a hybrid model at this stage.
System Security Measures
Harmony has taken measures to ensure security. To prevent large-stake attacks, instead of sharding by validators, the Harmony project shards by voting shares. The price of a voting share has been set algorithmically so that it is small enough that malicious stakers cannot concentrate their voting power in a single shard.
We sincerely appreciate your support and understanding, we hope this information proves useful to all users and potential investors.
The KuCoin Team.