May 28, 2024

Harmony combines staking and sharding

Harmony combines staking and sharding

Harmony has modernized its network, becoming the first blockchain to successfully combine sharding and staking.

For nownetwork users can place their tokensto support network operations and receive rewards for their contributions. According to the developers, the stakers can count on high annual returns from 45% to 15%. Harmony strives to strike a balance between large and small bets. The network limits the reward to those users who have the highest bid, and increases this reward to those who have a relatively small amount.

Thanks to the innovation, transactions on Harmony are calculated in 8 seconds, and their cost is only $ 0.000 – 001.

The Harmony network consists of more than 320 public nodes, and Harmony plans to increase this number to 1000 or more by the end of the year.

Now that the main work is on the combinationThe Proof-of-Stake consensus mechanism and sharding are completed, Harmony will switch to solving potentially more complex problems and allow developers in the Ethereum ecosystem to test the new network. Management is also planning a full suite of grants for developers to encourage them to innovate on the Harmony blockchain.