Thanks to this strategy, Harmony’s fast and secure blockchain is designed for decentralized applications, producing blocks in 2 seconds with finality, allowing for trustless, irreversible transactions at lower fees, costing up to 100 times less than other blockchain transactions. Harmony uses a technique called sharding to split the blockchain’s network into parallel chains, called shards, to improve the speed and efficiency of the network-at a lower cost. The interoperable sharded blockchain is built from the bottom up to address the constraints of security, scalability, and decentralization that continue to affect blockchains. Harmony was designed as an interoperable Layer 2 scaling solution for Ethereum. The total funding will go toward a variety of projects and activities throughout Web3 aimed at connecting all networks and advancing hundreds of DAOs, which will help drive blockchain adoption. To scale trust and create a radically fair economy, Harmony is granting $300 million to the open DAO community. Harmony was established in 2018 and attracted nearly $20 million in funding from both private investors and Binance Labs to create the protocol. 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. Harmony is an open platform for assets, collectibles, identity and governance. Harmony is an interoperable sharding protocol with secure bridges offering cross-chain asset transfers with Ethereum, Binance, and 3 other chains. Harmony developers now have the simplest method to acquire access to the Harmony blockchain, deploy dependable node access in seconds, and focus on building a more unified and efficient future thanks to Chainstack’s highly resilient and scalable infrastructure solutions. We are ecstatic to announce that Harmony is now supported on Chainstack.

Token harmony