This will drastically reduce congestion, however, it is still months away from completion. Additionally, Ethereum is in the process of rolling out the Ethereum 2.0 upgrade which, once complete, will be able to facilitate up to 100,000 transactions per second (TPS).

However, in recent years Ethereum became the victim of its own success with high network usage resulting in delayed bottlenecked transactions and substantially higher gas fees.īlockchain developers have designed innovative layer-2 scaling solutions to combat this issue. Ethereum was the first smart contract-enabled blockchain and has shown continued strength and growth since launching in 2015. The Ethereum blockchain is the second-largest blockchain in existence and is host to over 80% of decentralized applications (dApps). Harmony was designed as an interoperable layer-2 scaling solution for Ethereum. However, Ivan on Tech Academy has you covered! If you want to learn about the fundamental principles of blockchain, our Blockchain & Bitcoin 101 course is the perfect place to start your journey!Īlso, if you want to dig a little deeper into how the technology behind Harmony works, be sure to check out the Ethereum 101 course at Ivan on Tech Academy, the number one blockchain education suite online! What is Harmony? Understanding how blockchain technology works can be daunting for beginners. Furthermore, we’ll explain how the Harmony ONE token is used within the protocol’s ecosystem. Moreover, we’ll explore sharding, and how the Harmony blockchain operates using a unique consensus algorithm. In this article, we’ll discover the depths of the Harmony protocol and how it is offering scalability for Ethereum as an interoperable layer-2 solution. Harmony makes it easy for developers to build and scale creative, intuitive decentralized applications (dApps) that enable frictionless, cross-chain token swaps. Powered by the Harmony One token (ONE), the Harmony blockchain is an independent blockchain designed to enable ultra-fast transactions and interoperability as an advanced layer-2 solution for Ethereum. Harmony is an interoperable sharding protocol offering a two-way Ethereum bridge.

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