Harmony’s open, decentralized network is enabled through the use of the native protocol token – Harmony ONE. The token incentivizes and rewards a variety of participants including developers, validators/stakers, investors, and community members who develop, secure and govern the network. In order to use the network, users pay a small transaction fee denominated in the native Harmony token.
Harmony’s scalable, high-throughput protocol is powered by a native token which is used for various forms of payment and participation in the protocol (staking, transaction fees, voting & governance).
Harmony uses blockchain to align incentives of different stakeholders, developers and businesses while allowing them to build open marketplaces of fungible and non-fungible tokens and assets. Furthermore, the upcoming application of zero-knowledge proofs will allow Harmony to become a data sharing platform that can overcome the conflicting problem plaguing many information and data markets: that individual market participants’ have mutual distrust to share data but strong desire to acquire data themselves.
In this interview Layah speaks with Harmony’s founder, Stephen Tse. Stephen has been obsessed with protocols and compilers since high school. He reverse-engineered ICQ and X11 protocols, coded in OCaml for more than 15 years, and graduated with a doctoral degree in security protocols and compiler verification from the University of Pennsylvania.
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00:00 Introduction to Harmony ONE
00:56 What Is Harmony and What Are its Core Values?
01:30 How will Harmony solve the Blockchain ‘Trilemma’?
02:18 What is Harmony doing Differently?
03:12 How does Staking Work on Harmony?
04:42 What are the Use Cases of ONE?
06:46 How does ONE Burning Work?
07:29 What is the Grant Program?
08:45 Any Plans to get into NFTs?
10:36 What else is in the Harmony Pipeline?
Harmony web site:
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