We are glad to meet you here Mr. Li Jiang (COO of Harmony).
Basic Introduction about Harmony Protocol:-
Harmony is a fast and secure blockchain. Our vision is Open Consensus for 10 Billion People.
For the last few years, the trilemma — decentralization vs scalability vs security — has sparked many advances in blockchain protocols. To us, achieving all these characteristics is not an impossibility but an expansion of the triangle through great engineering.
With the fourth critical dimension, privacy, the quadrilemma will be one of the most important problems for our generation to solve in the coming decades: to understand what privacy means in terms of human rights, product design, and the digital economy.
And, to build an open platform without sacrificing performance, without delegation to a central entity, and with verifiable security.
Are we decentralized yet? Here’s the most critical reason why we started: a permissionless network operated and governed by a large community. Otherwise, we could have used just a few supernodes, reducing to what cloud computers would already better serve. There’re now 1,000 Harmony nodes, many of them run by the community, in line with tens of thousands of Bitcoin and Ethereum nodes.
There’s no consensus without participation. Harmony team spends significant effort on our node campaign called Pangaea from more than 100 countries and most of them have never run a node before.
Our mission is to scale trust for billions of people and to create a radically fair economy.
Li Jiang:- Great to be here and thank you @Allen_James for organizing this.
I hope everyone is staying well during shelter at home, Our team has gone fully remote/work from home but we are still working hard to deliver open staking for the community.
Question 1:- Can you tell us about your background? And How did you get involved in cryptocurrency and join Harmony?
Li Jiang:- It’s a really good story. I met the founder of Harmony – Stephen Tse – at my house when I was hosting some friends for a Silicon Valley party, And for 2 years we just talked about machine learning, startups, and eventually blockchain. He started Harmony in the spring/summer of 2018 and I joined later that year, For many of us, we saw blockchain as the new platform to build something that can reach billions of people.
Question 2:- Can you tell a bit about Harmony team? What is the roadmap of Harmony for 2020?
Our team comes from Google, Amazon, Apple but also many of us have founded startups before http://harmony.one/team
Nice photo of us – this was before coronavirus of course. We used to play weekly soccer and have lunch and dinner together. We are super committed to building Harmony.
We share our weekly progress on our twitter https://twitter.com/stse/status/1248679945456345089?s=20
Our goals in 2020 are cross-border utility, decentralized development and auditable privacy.
Why Finance? Blockchains enable many marketplaces but banking services are the native use.
Why Cross-Border? Open platforms work locally but global users are the most underserved.
Why Harmony? Not only fast and secure, Harmony is decentralized and guarantees privacy.
How? We are customer obsessed but must identify the right customers and external values.
The full 2020 roadmap is at harmony.one/2020-plan
Question 3:- As I noticed Harmony wanted the “OPEN STAKING” which requires the native $ONE MainNet tokens.
Now, What Exactly does an “OPEN STAKING” Do?
And Why is it Important to us, $ONE holders?
Li Jiang:- Some may know already that we are one of the first production mainnets to feature a fully sharded proof of stake architecture. proof of stake is a better mechanism than proof of work because it does not require specialized mining machines And fully sharded means we can scale as more nodes/validators join the network, we have 1000 nodes today, but our goal in the long term is much higher That’s why validators are so important – for both security of the network, and decentralization We want everyone to be able to become a Harmony validator and earn block rewards, which is $ONE tokens as reward for helping to secure the network Has everyone gotten a chance to check out our staking.harmony.one dashboard yet? Anyone can set up a validator on Harmony’s testnet now For those who have used AWS / Google Cloud / Vultr / Digital Ocean, we have full guides on setup at https://docs.harmony.one/home/validators Yeah and our team is providing 24/7 tech support at harmony.one/volunteers channel on Telegram We really want everyone to try staking or delegating That’s the best way to start learning today.
Question 4:- How does cross shard transaction work with #ONE? What are the critical problems #EPoS does solved in ecosystem.
Li Jiang:- For effective proof of stake and some of the other technical questions, it’s also covered in our definitive guide to staking that our CTO just published: harmony.one/staking-guide. Harmony’s Effective Proof-of-Stake (EPoS) is the first staking mechanism in a sharded blockchain that achieves both security and decentralization. EPoS allows staking from hundreds of validators and the unique effective stake mechanism reduces the tendency of stake centralization. Meanwhile, stake delegation, reward compounding, double-sign slashing, and unavailability checking are also supported. All this is great, but we really need the community to jump in and engage before we can launch this rocketship. worth repeating to check out: staking.harmony.one 🙂.
Question 5:- Harmony project seems very futuristic project with great use case ! So, I want you give some details that what are the minimum requirements ( hardware & cost ) to run harmony Node ? Can you please tell me the reason behind the name of Project ” Harmony ” ? It seems almost as same as Musical instrument!!
Li Jiang:- http://harmony.one/why
Question 6:- How many wallets that can support ONE until now? And do you have any plan to build your own wallet?
Li Jiang:- we have many wallets: https://docs.harmony.one/home/overview/trustwallet
Question 7:- which do you think is the strongest characteristic of Harmony and why should we choose you? How important is for Harmony the interaction with the community and their opinions and which elements do you use for it?
Li Jiang:- We love engaging with the community and put all of our weekly updates on twitter?
Question 8:- #Harmony is currently going well and is receiving positive attention. What will you do to get more exposure and adoption? What is the #Harmony message for the Community today?
Li Jiang:- check out our youtube channel: https://www.youtube.com/channel/UCDfuhS7xu69IhK5AJSyiF0g
Question 9:- I’m a fan of Milton Friedman.
You assume to build a “FAIR ECONOMY”, but, is there behind HARMONY a clear thinking from the economic point of view, or any particular school of economics? which one?
Continuing with my economic questions, does HARMONY $ ONE have an emission model, either deflationary or predictable, that maintains the balance between the stakers and the rest of the community?
Li Jiang:- Check out our new token economy model https://medium.com/harmony-one/harmonys-new-tokenomics-bcdac0db60d7
Question 10:- In regards to Harmony sharding, what kind of real-life application or adoption will sharding improve to help bring the masses to Harmony and crypto in general?
Li Jiang:- Very fast transactions (8 seconds or less) to anyone in the world, across borders: https://www.youtube.com/watch?v=FqxhfQ9riqY
Li Jiang:– 🎽Whoever can set up a harmony.one/auto-node can DM me on telegram or email me [email protected] and I will personally delegate testnet tokens to you. Of course currently it’s on testnet, but this will prepare you to run on our mainnet when we have real token value 💪
Well, I thought we would have 10-50 questions, but with 400 we’ll definitely have to continue the conversation in our telegram channel: harmony.one/telegram. ❤️ you guys – the best places to get your questions answered are our harmony.one/medium and harmony.one/youtube
❤️ To wrap everything up, come try our staking experience, come to this link: https://pangaeabyharmony.typeform.com/to/BNMyfJ .
🔗 Helpful Links 🔗
Website :- https://harmony.one/
Telegram Community :- https://t.me/harmony_one
Twitter :- https://twitter.com/harmonyprotocol
Instagram :- https://www.instagram.com/harmonyprotocol/
Medium :- https://medium.com/harmony-one
Linkedin :- https://www.linkedin.com/company/harmony-one