Ethereum

A “unifying Web3 platform” will onboard 1 billion customers by 2026, says Harmony COO

Li Jiang, chief working officer at Harmony, believes {that a} bridge connecting all current blockchains is essential to onboard the primary 1 billion customers on Net 3. 

“We expect that the long run is multichain and cross-chain, that you must be capable to transfer property very simply from one chain to a different, with good costs, with good charges and really quick,” he informed Cointelegraph in an unique interview.

Harmony is a layer-1 blockchain protocol that goals at creating bridges with all main blockchains and turning into a “unifying Web3 platform” by 2026.

Jiang acknowledges that blockchain expertise just isn’t mature sufficient to onboard such a lot of customers because of scalability limitations.

“Immediately, nobody can help a billion customers, no chain, no ecosystem,” he mentioned.

Harmony is addressing these limitations by leveraging proof-of-stake and sharding expertise. That, as Jiang identified, permits Harmony to attain excessive ranges of decentralization, scalability and safety concurrently.

“We now have two-second finality. Whereas that is virtually the quickest within the business, we did that with out buying and selling off on decentralization or safety.”

In line with Jiang, layer-1 options similar to Harmony will show simpler than layer-2 protocols constructed on Ethereum within the creation of a cross-chain web, because of their increased flexibility.

He additionally thinks that the way forward for Web3 just isn’t a winner-takes-all type of situation: A number of layer-1 protocols with their very own distinctive worth propositions will be capable to coexist.

“The chains that can develop are those which might be nice at cultivating their native tasks,” he identified.

Try the total interview on our YouTube channel and don’t overlook to subscribe!

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