Li Jiang, COO of Harmony, believes that the bridge that connects all existing blockchains is the key to activating the first billion users of Web 3.
“We believe in a multi-chain, end-to-end future, you should be able to move assets very easily from one chain to another, at great prices, at great prices and very quickly,” he told the Cointelegraph in an exclusive interview.
Harmony is a layer 1 blockchain protocol that aims to unite all major blockchains and become a “Web3 unified platform” by 2026.
Jiang acknowledges that blockchain technology is not mature enough to include such a large number of users due to scalability limitations.
“Today, no one can support a billion users, neither the chain nor the ecosystem,” he said.
Harmony eliminates these limitations by using Proof of Stake and hashing technology. This, as Jiang noted, allows Harmony to simultaneously achieve a high level of decentralization, scalability and security.
“We have the last two seconds. While this is about the fastest speed in the industry, we have done so without replacing decentralization or security. ”
Tier 1 solutions like Harmony will prove to be more efficient than Ethereum-based layer 2 protocols for building the Internet because of their high flexibility, Jiang said.
He also believes that the future of Web3 is not a win-win-everything scenario: several layer 1 protocols with their unique value propositions can exist side by side.
“The chains that want to grow are the ones that are doing well with their local businesses,” he said.
Watch the full interview on our YouTube channel and do not forget to subscribe!
