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Harmony

Harmony

Platforms: site twitter github
Active Pools Min cap Bonus Commission Raised Rating Language Access Created

Активный Пул

Min cap

1 ETH

Bonus

20%

Commission

3%

Raised

57 ETH

2009

Rating

8

Language

EN

Access

Created

17.06.17

Активный Пул

Min cap

0.5 ETH

Bonus

-

Commission

5.5%

Raised

91 / 190 ETH

3628

Rating

7

Language

EN

Access

Created

19.02.18

Last ICO deals

Min cap

0.2 ETH

Bonus

20%

Commission

5%

Raised

200 / 200 ETH

Active

19.04.2018

Finished successfully

04.05.2018

Analytics

Category: Protocol                                                                    Country: USA   Date: July 05, 2018

 

 

 

INTRO

Harmony is a DAG-based network, aimed to achieve 10M TPS speed.

 

 

 

TOKENOMICS

Metrics

ICO Time: no crowdsale. Only seed round and TWO private rounds

Private Sale: Q3-Q4 2018

Token: HAR (not official)

Token type: possibly on the phase of the token sale will be used ERC-20, with the transfer to the own wallet at its launch

Hard cap: $ 30M (not official)

Price: No data

Minimum investment: No data

Bonus: up to 40%

Bounty:  40% in the seed round, 20% in the first Private sale and 0% in the second Private sale.

Accepting: ETH

Сan't participate: No data

 

 

Tokens distribution

Token distribution:

20% Sales & floating

40% Developer & community (open benchmark, mining, airdrops)

28% Foundation & research (reviewed publication, research grants, reserve)

12% Founder & team

 

Use of raised funds:

40% for technical development of protocol platform

20% for community engagement, developer programs

15% for marketing, business development

10% for operations, equipment, cloud servers

10% for collaboration with academic research

5% for compliance, legal, finance

 

 

Protective measures against the tokens depreciation

Sales & floating tokens: 40% no lockup, 10% monthly over 6 months; 100% release after 1-year lockup.

Developer & community tokens: 1-year 28% lockup, 1.5% monthly over 4 years.

Foundation & research tokens: 28% no lockup, 1.0% monthly over 6 years.

Founder & team tokens: 1-year 28% lockup, 2% monthly over 3 years.

 

 

 

PRODUCT

The relevance of market problems solved by the project

Harmony aims to solve the TPS problem of modern blockchains.

 

 

The description of key products and project technology

To achieve this, the project is developing consensus protocol over the open Internet​ that aims to work at 10 million transactions per second speed with 100-millisecond latency and 0.1% fee.

 

That will be achieved with:

  • Use of network of 100k nodes, that will work over Google’s UDP, Bloom tables and 5G technologies, which are best speedup connections;
  • OmniLedger BFT consensus protocol with DAG structure;
  • Support of multi-core systems and, different programming languages and zero-copy streaming.

 

Also, the team has well-developed principles of scaling:

  • Sharding with atomic shard-commits;
  • The gradual transition for resistance to Sybil-attack and to maintain liveness when swapping shards.
  • Parallelizing blocks with DAG.
  • Pruning checkpoints with state blocks for storage and bootstrapping against Byzantine DoS (100x space savings).
  • Optimistic confirms to trust but verify low-value transactions with shard deposits (verification in less than 1s).

 

The platform can be used for different purposes, including finance, IoT, etc.

 

Features and applications unique​ to Harmony:

  • Location oracles will be used data feed to simultaneously organize thousands of IoT devices;
  • Decentralized maps will be used to incentivize users for the creation or achievement points on them (like PokemonGo);
  • AI Data Marketplace will be used as a high-volume data marketplace and to optimize machine learning performance of the platform.

 

The whitepaper provides a basic explanation of the key features of the platform with a comparison to competitors.

 

Project’s token will be minable, but its utility in the Whitepaper is not disclosed.

 

 

The stage progress and milestones of the project development (Roadmap)

Roadmap discloses details on the aspects of the development and doesn’t look time-stretched. With current team goals look achievable.

 

Github is not active.

 

No MVP right now.

 

 

The importance of blockchain in the project

Blockchain will be used as a key component of the platform to store, track, audit, and validate transactions on the network.

 

 

 

TEAM AND PARTNERS

Experience and the team achievements

The team consists of 14 employees, that has experience in, engineering, software development, robotics, cryptography and business development in the tech field.

 

Stephen Tse, Founder & CEO - With over 13 years in Engineering experience (from them 4 years of Business Development in Tech Field). Senior Engineer at Google (4 yrs) / Founder at Spotsetter (acquired by Apple) (3 yrs) / Principal Engineer at Apple (1 yr) / Founder at Voice AI (1 yr). MSc, Computational algebraic geometry at Simon Fraser University. Ph.D., Cryptographic protocol, type theory, functional compiler at the University of Pennsylvania.

 

Alok Kothari, Co-Founder - With over 7 years in Engineering experience. Machine Learning Engineer at Apple (2 yrs 9 mths) / Graduate Research Assistant at Carnegie Mellon University (2 yrs) / Derivative Trader at Futures First Info. Services Pvt. Ltd. (less than 1 yr). Master’s Degree, Computer Science (Language Technologies Institute).

 

Nicolas Burtley, Co-Founder - With over 6 years in Business Development in Tech Field experience. Founder & CEO at Orah (6 yrs 3 mths).

 

Rongjian Lan, Co-Founder - With over 8 years in Engineering experience. Software Engineer at Google (4 yrs) / ABC Blockchain Foundation at Co-Chair (6 mths) / Co-Founder at Joobali (2 yrs). Master’s Degree (Ph.D. Dropout), Computer Science at University of Maryland College Park.


Not confirmed members of the team: Hakwan Lau, Trausti Kristjansson, Georgios Fainekos, Bruce Huang. They are PhDs and MDs at the tech field from MIT, Carnegie Mellon University, etc. with experience of work in Apple, Google, IBM, Microsoft, General Robotics, etc.

 

 

Advisory board

Zi Wang, Aaron, Li, Navneet Singh, Michael Young, Kushagra Shrivastava and Isaac Zhang, who worked at Google, Ezetap, WorldPay (largest payment processor), etc. and  have PhDs or MDs at the tech field.

 

 

Strategic partners

No data

 

 

Large investors and investment funds

No data

 

 

 

MARKET

Competitive environment

Projects, which launched protocols based on DAG, were attractive for investors in the past and demonstrated high effectiveness of investments after entering the exchange:

 

IOTA – in the course of ICO 1,337 BTC was raised, capitalization - $3,3 billion, ROI USD - 2729x

Nano - ICO - not available, capitalization - $359M, ROI USD after entering the exchange - 300x

Byteball - ICO wasn’t held, capitalization - $78M, ROI USD after entering the exchange - 6,3x

Quark Chain - raised - $20M, capitalization – not available, ROI USD - 3,67x

Hedera Hashgraph - at the stage of Private sale $18M was raised, capitalization is unknown.

Jura - ICO - raised - $30M at seed round (not official), capitalization is not available.

 

 

The project advantages

Very strong team.

 

Well-developed principles of scaling:

  • Sharding with atomic shard-commits;
  • The gradual transition for resistance to Sybil-attack and to maintain liveness when swapping shards.
  • Parallelizing blocks with DAG.
  • Pruning checkpoints with state blocks for storage and bootstrapping against Byzantine DoS (100x space savings).
  • Optimistic confirms to trust but verify low-value transactions with shard deposits (verification in less than 1s).

 

Features and applications unique​ to Harmony:

  • Location oracles will be used data feed to simultaneously organize thousands of IoT devices;
  • Decentralized maps will be used to incentivize users for the creation or achievement points on them (like PokemonGo);
  • AI Data Marketplace will be used as a high-volume data marketplace and to optimize machine learning performance of the platform.

 

 

 

SOCIAL ACTIVITY

The project popularity in the social networks and discussion forums

The project is on the radar of the next influencers: ICO Drops, Midgard Research, MM Crypto.


Twitter: 3,4k followers, the average number of likes per post is 3, the average number of retweets per post is 1, without any discussion, user activity is low.

 

 

 

Fraud risk - low. Community interest - high.

Product - 8.5
Team and partners - 8.8
Market - 9
Average score - 8.8

DISCLAIMER: This is not financial advice! None of the members of ICOPools.io are licensed financial advisors, hence you are urged to do your own due diligence and take your own decisions. (read more)