Harmony is a fast and secure blockchain with key innovations in state sharding and peer-to-peer networking. Harmony's main focus is on achieving scalability by dividing not only the network nodes but also the blockchain states into shards. Harmony introduces a new version of the proof-of-stake (PoS) consensus. Called effective proof-of-stake (EPoS), this method allows simultaneous staking from hundreds of validators. This consensus method was developed in accordance with the sharding concept utilized in the Harmony network. Unlike proof-of-work (PoW) consensus mechanisms, EPoS is designed for faster processing times and improved scalability. While PoW requires a lot of electrical and computing power, staking consensus methods rely on an abundance of value holders, who become validators.
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