If you want to transfer from Harmony back to Ethereum or BSC, you can either select MetaMask (make sure you have the Harmony network selected) or your ONE wallet.You will need to connect a source wallet, from which to send the tokens, and a recipient wallet. To use the bridge, you need to:Ĭonnect your wallets. When you access the page, you'll see you can choose between a range of popular tokens on both BSC and Ethereum. 10 BUSD that come from BSC, meanwhile, will become 10 bscBUSD on Harmony, with the prefix similarly indicative of its source. 10 BUSD bridged from Ethereum will become 10 1BUSD, with the '1' prefix indicating it is a Harmony HRC-20 token that came from Ethereum. Although we don't need to get into the technical details, it's essentially a series of smart contracts which 'lock' the original asset (the one you want to transfer to Harmony) and mint an identical quantity of a bridged asset. The bridge works with both Ethereum and BNB Smart Chain (BSC). Harmony also has a growing ecosystem of dapps, has its own native wallet, and has developed bridges between its own network, Ethereum and BSC. EPoS also evenly distributes stakes across shards to ensure a consistent level of security across the network. Designed specifically for the network's sharded design, this system involves electing validators based on their stake: to earn staking rewards, validators need to run more nodes, ensuring each validator does their fair share. Effective Proof-of-Stake (EPoS) consensus mechanism.The Byzantine Generals Problem), which confronts the challenge of how to achieve consensus between multiple parties when some of them are potentially unreliable. FBFT's name derives from the Byzantine Fault problem (a.k.a. They achieve this through their Fast Byzantine Fault Tolerance (FBFT) consensus algorithm, which allows the network to agree on blocks extremely quickly. the ability to confirm blocks within two seconds. Network validators are randomly shuffled between shards to maximize security. Sharding is one method of solving the 'blockchain trilemma' of simultaneously achieving scalability, security and decentralization. Harmony has four shards, with its nodes distributed equally between them. Having multiple shards simply means the network is partitioned into distinct sections to increase potential throughput. It was the first sharded layer 1 (L1) network to launch using a proof-of-stake consensus mechanism.Īs it is an L1 network, Harmony uses its own token, ONE, to pay for transactions and for validators to stake (and, in turn, receive rewards). Network name Harmony Mainnet Token ONE RPC Chain ID 1666600000 Block explorer Website harmony.oneīegun as a startup in 2018, Harmony is an EVM-compatible network with two core objectives: scalability and decentralization.
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