We are excited to announce Harmony and Taxa Network collaborate towards the holistic development of the blockchain infrastructure. Harmony is a high-throughput, low-latency and low-fees consensus platform that will connect billions of people and power the decentralized economies of the future. Taxa is a privacy-preserving, computationally powerful, highly developable, blockchain agnostic layer-2 infrastructure. The collaboration will first focus on applying Taxa’s computationally powerful, privacy-preserving smart contract engine on Harmony’s mainnet.
What is Harmony?
Harmony is developing a high-throughput, low-latency and low-fee consensus platform, for the trustless and decentralized economies of the future. The core of Harmony’s technology is sharding, but Harmony has improved it to create a proprietary Deep Sharding technique, where the layer in which consensus happens is sharded along with the transactional layer. Other features of Harmony’s solution include a Fast Byzantine Fault Tolerance consensus algorithm, an innovative Distributed Randomness Generation scheme, Kademlia cross-shard routing protocol, and the use of a beacon chain along with the ordinary shard chains. Harmony recently launched our mainnet, with 600 nodes split between 4 shards, and quickly scaled up to 800 nodes. On 9th August, Harmony’s engineering team implemented a rolling network upgrade, where Harmony scaled to 30% external participation with 248 external nodes.
Scalability is a huge problem that blockchain networks face today, and possibly the biggest roadblock to mass-scale adoption of blockchain technology. Bitcoin transactions take minutes to get confirmed, while Ethereum has time and again slowed down under increased performance demand. It is essential for blockchain platforms today to have the capability to support high-performance decentralized applications. Projects such as Harmony have been applying different innovations to increase blockchain throughput (a bit more on that later).
However, scalability isn’t the only aspect that is limiting blockchain performance today. In some of the public blockchain platforms, the protocol itself restricts the performance of complex data-intensive smart contracts. For example, the block size in Ethereum is of the order of 25KB, which makes it virtually impossible to support data-heavy smart contracts. Blockchain networks should also be able to support smart contracts which are intensive both in terms of computation and associated data, while simultaneously maintaining data privacy. This is in general referred to as improving the vertical performance of the blockchain while increasing the throughput is known as improving horizontal performance.
Taxa Networks’ blockchain agnostic layer-2 infrastructure is privacy-preserving, computationally powerful and highly developable. By leveraging a layered design philosophy and state-of-the-art trustless technologies, Taxa aims at becoming the universal business logic layer of blockchain infrastructure, enabling killer apps of Web 3 to develop and thrive. Developers can benefit from building with Taxa in the following key aspects: 1. compatible and easy to integrate with your existing tech stack; 2. rich library, toolkit, and documentation support; 3. resizable CPU-based compute capacity on demand. Taxa enables new possibilities in dapps, for example, analytics/AI based on various sources of data in a sealed environment with no data leakage, decentralized asymmetric info games like Pokers, e-sports, and management and exchange of digital assets without having to trust or rely on a third party, etc.
About the collaboration
With this collaboration, Taxa’s layer-2 infrastructure will be integrated within Harmony’s blockchain protocol. This will allow app developers working on Harmony’s platform to enjoy all the benefits that Taxa provides, and enable them to build DApps with data privacy, computational performance, and rich functionalities on a high-throughput, low-latency blockchain infrastructure.
“Harmony’s partnership with Taxa is a big step towards the holistic development of the blockchain infrastructure. It enables both sets of developers to focus on their core expertise, and provide the best of both worlds to our users.”
— Li Jiang, in charge of Business Development at Harmony
“With the integration of Taxa and Harmony, developers shall benefit from each one’s strengths at the same time. Such benefits will enable developers to unlock whole new possibilities in gaming, DeFi, and more, adding the value storage on Harmony’s blockchain.”
— TF Guo, co-founder of Taxa