Below is the full report by Messari Research on Harmony’s token economics and ecosystem. It covers the scalability of its sharding protocol, the security of its cross-chain bridges, and the innovation of its keyless wallets.
Bridging BTC to Harmony's Ethereum Virtual Machine
State of Harmony Q2 2022
ONE on Messari's 2022 Theses
Here’s to The ONEs Who Build
Messari’s Analysis: Bridging BTC to Harmony's Ethereum Virtual Machine
ONE on Messari’s 2022 Theses
By Rasheed Saleuddin
... as an EVM-compatible, sharded Proof of Stake smart contract blockchain. Harmony’s Fast Byzantine Fault Tolerant (FBFT) consensus protocol, combined with random state sharding and Boneh–Lynn–Shacham (BLS) constant-sized signatures allows Harmony to achieve finality in one block or roughly two seconds – compared to optimisitic finality in Solana or Avalanche, or 6 seconds for Cosmos, or 60 seconds for Polkadot. A normal transfer costs only about 0.000021 ONE. Harmony was the first sharding-based L1 on a mainnet. It has solved the trilemma of decentralization-security-scalability by uniformly scaling with shards.
100 DAOs & Cross-Chain Web3
Why Harmony? Technical Overview of Protocols, Validators & Bridges
... both gas-efficient and trustless: Smart contracts [based on Flyclient architecture] that exist both on Ethereum (or BSC) and Harmony are the only custodians of each chain’s respective native asset... bridging to Harmony costs approximately 100,000 gas: around $20 at 65 gwei. A return to Ethereum requires multi-sig confirmation by Harmony validators, at an approximate cost of 400,000 gas. Finality back to Ethereum is achieved within 6 minutes, comparing favorably to L2s and side chains.
Interoperability with On-Chain Bridges and Wallets
Research DAO – Bring Best Results to Production
Instead of seed phrases, Harmony’s 1Wallet uses Google Authenticator, and backup access is obtained through social recovery. Based on a close collaboration and the research paper SmartOTP, 1Wallet advances smart contract wallets beyond Argent and Loopring. In particular, 1Wallet does not require secure enclave hardware or linking with your email identity. Of course, users can also transact with traditional wallets, including MetaMask and Gnosis Safe, easily with Harmony.
$20M Grants & Bounties on Wallets
zkDAO – Succinct, Private, Fair