A ‘unifying Web3 platform’ will onboard 1B users by 2026, says Harmony COO

Marco Castrovilli Feb 04, 2022 A ‘unifying Web3 platform’ will onboard 1B users by 2026, says Harmony COO

Harmony chief operating officer Li Jiang is convinced that a bridge conecting all major blockchains is key to building a decentralized internet.

8406 Total views 45 Total shares Listen to article 0:00 Cointelegraph YouTube Subscribe

Li Jiang, chief operating officer at Harmony, believes that a bridge conecting all existing blockchains is key to onboard the first 1 billion users on Web 3.

“We think that the future is multichain and cross-chain, that you should be able to move assets very easily from one chain to another, with good prices, with good rates and very fast,” he told Cointelegraph in an exclusive interview.

Harmony is a layer-1 blockchain protocol that aims at creating bridges with all major blockchains and becoming a “unifying Web3 platform” by 2026.

Jiang acknowledges that blockchain technology is not mature enough to onboard such a large amount of users due to scalability limitations.

“Today, no one can support a billion users, no chain, no ecosystem,” he said.

Harmony is addressing these limitations by leveraging proof-of-stake and sharding technology. That, as Jiang pointed out, allows Harmony to achieve high levels of decentralization, scalability and security simultaneously.

We have two-second finality. While that's almost the fastest in the industry, we did that without trading off on decentralization or security.

According to Jiang, layer-1 solutions such as Harmony will prove more effective than layer-2 protocols built on Ethereum in the creation of a cross-chain internet, due to their higher flexibility.

He also thinks that the future of Web3 is not a winer-takes-all kind of scenario: Multiple layer-1 protocols with their own unique value propositions will be able to coexist.

“The chains that will grow are the ones that are great at cultivating their native projects,” he pointed out.

Check out the full interview on our YouTube chanel and dont forget to subscribe!

• #Blockchain

• #Altcoin

• #Decentralization

• #Ethereum

• #Adoption

• #Digital Currency

• #Tokens

• #Metaverse

• #DeFi

• #Web3

Related News

• The Big Four Are Gearing Up to Become Crypto and Blockchain Auditors

• DeFi lending platforms integration with Polygon will facilitate efficient token swaps with deep liquidity

• Lost Bitcoin may be a ‘donation,’ but is it hindering adoption？

• ‘Wave of litigation’ to hit NFT space as copyright issues abound

• Industry players respond to Vitalik Buterin's thoughts on cross-chain ecosystems

• NFTs and DeFi overturn a bankers generational curse of poverty in 2 years

Load more articles Editors Choice

• Venezuelans reportedly hit by new Bitcoin tax of up to 20%

• BTC price returns to $43K — 5 things to watch in Bitcoin this week

• RSS3 aims to be the decentralized information processor of Web3

• AssangeDAO raises $38M in donations to help free WikiLeaks founder

• Top 5 cryptocurrencies to watch this week: BTC, ETH, NEAR, MANA, LEO

Cointelegraph YouTube Subscribe Advertise with us