- Binance Launchpad IEO Harmony has launched its mainnet
- The project raised some $5 million via its IEO
- The mainnet is the world’s first fully sharded and PoS blockchain
In a Medium post published on June 28, 2019, Harmony Protocol (ONE) announced the launch of its mainnet ahead of the scheduled date.
Harmony Mainnet Goes Live
Harmony (ONE), which recently raised some $5 million in a successful initial exchange offering (IEO) on Binance Launchpad, has now launched its mainnet dubbed Day ONE. According to the official announcement, Day ONE is the world’s first fully sharded, proof-of-stake (PoS) blockchain.
Nick White, the co-founder of Harmony substantiated on the significance of the mainnet launch for the project’s extended ecosystem saying that it brings the community one step closer to Harmony’s vision “to scale trust for billions and create a radically fair economy.”
What does Day ONE Offer?
White added that Harmony is a pure and stable decentralized network as out of its 600 nodes distributed among four shards, more than 150 are foundational nodes. The dilute distribution of nodes is one of the factors that put the project among the top 15 decentralized networks in existence.
Further, the launch of the mainnet also marks the beginning of block rewards for Harmony network participants. Per the blog post, every day about one million ONE tokens will be minted and distributed among the 600 initial nodes.
The mainnet launch will also include the mining of Harmony’s genesis block. Inside the genesis block, the team at Harmony will inscribe the message “Harmony for One and All. Open Consensus for 10B,” White added.
With regard to the technical prowess of the mainnet, it introduces a slew of features and protocols not previously witnessed within the blockchain ecosystem.
For instance, Harmony’s Fast-BFT (FBFT) is an amalgamation of the PBFT algorithm with the robust BLS multisignatures which lays the foundation for a scalable and trustless consensus algorithm.
The project has also implemented a “functional PBFT view change” which essentially ensures that no bad actors are able to influence its blockchain network.
Lastly, Harmony’s “state synchronization” feature allows new node hosts to join the network instantly. The feature also helps the team in re-sharding nodes within the network.