logo
Infrastructure

Harmony

Harmony - fast and secure blockchain with state sharding, PoS algorithm and decentralized randomness

Rating: 4.2

Official contacts
Location: Cupertino, CA
Web-resources:   Whitepaper Website
Social networks:
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
Testnet 3.0 done
Roadmap
September, 2019
Full mainnet launch
December, 2019
Porting zero-knowledge proof dApps
Token description
ICO date
28.05.2019 - 29.05.2019
Token price
N/A
Platform
Binance Launchpad
Hard cap
5000000
Capitalization of token pool
40000000
Blockchain
Harmony
Token distribution date
14.06.2019
Consensus method
PoS
Escrow
N/A
ICO currencies
BTC
Bounty camping
N/A
Markets
N/A
Token functions
The reward for contributors and fee for users.
Tokens distribution
Seed sale (22.4%)
Launchpad sale (12.5%)
Team (16.9%)
Protocol development (26.4%)
Ecosystem development (21.8%)
Risks
MARKET

- Tough competition with other blockchain networks focused on scaling

PRODUCT
BUSINESS MODEL
FINANCES

- Small allocations for public sale investors

TEAM
Full analysis
Market

Harmony is one more blockchain network entering a highly competitive market with lots of talented team around the glode proposing their own solutions for higher scalability, security and adoption.

Also, the team considers entering the market of the industry use cases (energy credits, game collectables, real estate). Here Harmony tries to be more market-oriented in comparison to competitors providing strong use cases and demonstrating their focus on these use cases. The team indicates that it has a few partners interested in mentioned use cases (Animoca, Contentos, hBits, Hyperion, NoIZ, Picolo and some others)

Product

In Harmony, zero-knowledge data sharing proofs are implemented together with so-called deep-sharding - multi-signatures for more scalability with secure randomness.

The team indicates it has reached 118k TPS and 41k nodes on Testnet. Full mainnet launch is projected to Q3 2019.

The development is available on GitHub.

Testnet explorer is available.

 

Business model

ONE token is used as a native token for Harmony protocol. The incentivisation system is traditional for such systems - token rewards stakers, validators, developers and user pay a small portion of their tokens as a fee.

Finances

Harmony tokens will be sold on Binance Launchpad on 28 May. Binance will implement the ticket scheme where BNB token holders (approximately above $1500 of holding) are given the right to participate in the sale with some probability.

The Launchpad will sell 12.5% of tokens for 5M USD. The price is set on 0.003175 USD per token - it is curious that this price is two times below the price on a seed round. But also Harmony has raised 18.3M USD in 2018 at 0.0065 USD per token (22.4% of supply).

The initial supply will be 24% of all total coins. The economy of the sale look balanced and well designed,

Investors include - Lemniscap, QTUM and some funds known in China mainly.

Team

The team includes 15 members with the diverse background

Stephen Tse (CEO) - PhD, founded Spotsetter (acquired by Apple), worked at Google for 4 years as a Senior Engineer.

Alok Kothari (Engineer) - 5 years in research, 3 years in Apple (Machine LEarning for Siri)

Rongjian Lan (Co-founder) - 4 years as a software engineer in Google

Minh Doan (Co-founder) - 4 years as a software engineer in Google

Sahil Dewan (BD) - Harvard MBA

Eugene Kim (Engineer) - 3 years as a software engineer in Amazon, 2 years in Blizzard

Chao Ma (Engineer) - Amazon engineer, Math PhD

Social networks
© ICO Scoring - ICO Analytical platform backed by investors and financial experts. All rights reserved 2018