The digitalization of the world led to many drastic changes which were impossible to even imagine a few years back. Some were easy to use, maintain and adapt. The other is a bit complicated. One of the changes which blew everyone’s mind was the digitalization of currency.
In today’s world, cryptocurrency is the trend which is the digitalized form of currency. Who could have thought you can do exchange sitting at your home on your mobile-only. The introduction of blockchain made it possible. Blockchain provides all the important elements which are essential for big money transfers, like security and valid proofs. Harmony and Cardano are blockchain platforms for transactions.
Key Takeaways
- Harmony One is a blockchain platform that focuses on scalability and fast transaction speeds, whereas Cardano is a blockchain platform that emphasizes security and sustainability.
- Harmony One uses a sharding technique to process transactions in parallel, which allows for high throughput and low fees. In contrast, Cardano uses a proof-of-stake consensus algorithm to verify transactions, which is more energy-efficient than traditional proof-of-work algorithms.
- Harmony One is a newer platform still developing its ecosystem and partnerships, whereas Cardano has a more established community and has been in development for several years.
Harmony One vs Cardano
The difference between Harmony One and Cardano is the medium of the exchanges happening on their platforms. Each of them chose a different name and type of currency to maintain their identity, so Harmony is using ‘One’ as the kind of cryptocurrency for their platform. The Cardano platform is maintaining its property by using cryptocurrency known as ‘ada’ for every exchange on their platform as the native cryptocurrency of the platform.
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Harmony One is also a blockchain-based platform. Blockchain is a network consisting of blocks as units. Harmony one is an open-source platform serving the motive of connecting the connectors as a community on their platform. It is a fast platform for transactions. It was founded in 2018.
Coming over to the next platform, i.e., Cardano. It is also a blockchain-based platform. Cardano is known for the 3rd generation. It was developed with the reference of the proof-of-stake algorithm. The development of Cardano is different from others as it was built in a two-layer system. The beneficial factors of the two-layer system that it makes deployment of rules in greater numbers while providing the service of smart contracts.
Comparison Table
| Parameters of Comparison | Harmony One | Cardano |
|---|---|---|
| Type | The CEO of Harmony One is Stephen Tse. | Cardanois under the maintenance of organizations |
| Establish | It was founded in 2018. | Its development was started in 2015 and launched in 2017 |
| Founder | It was developed and founded by Stephen Tse. | It was developed by the co-founder of Ethereum i.e. Charles Hoskinson. |
| Native Currency | Harmony One uses ‘one’ as the native cryptocurrency for the transactions. | Cardano uses ‘ada’ as the native cryptocurrency for the exchanges on the platform. |
| Speed | Harmony is fast as compared to Cardano. | It is slower in comparison. |
What is Harmony One?
Harmony One is a blockchain-based platform like Cardano, Ethereum, or Tezos. These all are cryptocurrency platforms providing many other services like smart contracts with different benefits. Harmony One is different from these platforms as it is fast for all the transactions. It showed its existence to the world in the year 2018. It is maintained by the Ceo, who is the same person as the developer of the platform. The founder and Ceo of the Harmony one platform are the same people, i.e., Stephen Tse.
Every platform has a different cryptocurrency which they use for exchanges on the platform (transaction). The native cryptocurrency for the Harmony one platform is One. It is an open platform with the motto to connect all the creators on the global level and form a community for them. It is a decentralized application which can provide Ethereum transaction in 2-second finality. The plus benefit which clients get that it charges 100 times less.
What is Cardano?
Blockchain technology is the key to cryptocurrency platforms, and in so many platforms based on blockchain technology, Cardano is a cryptocurrency platform based on blockchain technology. With the aim of investments and for exchanges of money for coins, this platform is secured with the help of blockchain. Cardano is known for the 3rd generation. It was developed with the reference of the proof-of-stake algorithm.
The development of Cardano is different from others as it was built in a two-layer system. The beneficial factors of the two-layer system that it makes deployment of rules in greater numbers while providing the service of smart contracts. It promises the clients peer-reviewed scientific research. The feature of peer-reviewed scientific research is it I use in the procedure of updating existing versions and provides better services.
The cryptocurrency in use for the exchange while the transaction is ‘ada.’ It is also known as the native cryptocurrency of the platform.
This platform was founded by Charles Hoskinson. Charles Hoskinson was also the co-founder of a well-known blockchain platform, i.e., Ethereum. Ethereum is a similar platform to Harmony One and Cardano. The first effort for founding the Cardano platform was done in 2015, and finally, it was launched in 2017.
Main Differences Between Harmony One and Cardano
- Harmony One is under the surveillance of the CEO, whereas Cardano is under the influence of the developing organizations.
- Harmony One was founded in 2018, but Cardano’s establishment was started in the year 2015 and went live in 2017.
- The founder of Harmony One is Stephen Tse, whereas the founder of the Cardano platform is the same as the co-founder of the Ethereum platform, which is also similar to Cardano and Harmony one.
- Each platform uses different coins for transactions. Harmony one uses One as the native cryptocurrency of the platform, whereas Cardano is using ‘ada’ as the native cryptocurrency for their platform.
- The difference in the platform here comes along with the speed of the platform. Harmony one is quite fast as compared to the Cardano.
- https://academic.oup.com/rfs/article-abstract/34/6/2689/5912024
- https://ieeexplore.ieee.org/abstract/document/7906988/
- https://jai.pm-research.com/content/20/3/16/tab-pdf-trialist
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Sandeep Bhandari holds a Bachelor of Engineering in Computers from Thapar University (2006). He has 20 years of experience in the technology field. He has a keen interest in various technical fields, including database systems, computer networks, and programming. You can read more about him on his bio page.
