Today we continue to explain the 200-300 projects. Today, the big-cap Bingtang Orange and Ethereum fell slightly, but small currencies plummeted. A few days ago, I said that when copycats are flying all over the place, everyone should be more cautious, instead of following the madness. Of course, for us spot players who have an end-game mentality, there is no ripple in our hearts. After all, learning knowledge is the most important thing. Today I will continue to share 3 projects. 1. The Harmony project is also a public chain. Its performance in the past year is also very general. It can almost be said that there is no movement, because it has only increased by 30%. The current market value is 290 million US dollars, ranking 250+, and it is almost fully unlocked.
Introduction
Harmony is a high-performance public chain project based on state sharding and PoS. Its sharding architecture consists of a beacon chain and multiple shard chains. The beacon chain provides services including decentralized random numbers, verification of shard chain headers, and acceptance of stakes of verification nodes.
Project implementation mechanism
The overall architecture of Harmony is similar to Ethereum 2.0, consisting of a beacon chain and a shard chain. Harmony has certain technical innovations in consensus, sharding, and networking:
1. Consensus: Use BLS multi-signature to improve PBFT and achieve scalable FBFT consensus. Harmony adopts the consensus mechanism of PoS+FBFT, that is, first select the nodes participating in block signing through PoS, and then reach consensus through FBFT. Among them, FBFT is Harmony's innovation based on PBFT.
2. Sharding: Improve the security of sharding through distributed random generation combined with VRF and VDF, and adaptive PoS.
3. Network: Use erasure codes and Kademlia routing to improve network performance.
Technical features
Sharding, as a blockchain expansion solution, was first implemented on Zilliqa. However, Zilliqa only implements network sharding and transaction sharding. Zilliqa divides its network into multiple shards, each with hundreds of nodes (network shards). This allows different transactions to be processed by different shards at the same time (transaction shards). However, in order to be able to process transactions, each node in the shard must store the entire blockchain state information. This makes the network have higher requirements for nodes, preventing nodes with average hardware resources from joining the network, which is not conducive to the decentralization of the network.
Harmony has gone a step further in implementing state sharding and named its sharding technology Deep Sharding, where Harmony not only shards the transaction level, but also the level where consensus occurs, which increases the level of parallel processing and thus network throughput. In addition, since all nodes do not need to store the entire blockchain state, general personal computers can also join the network as nodes, making the network more decentralized.
Token Economy
The project was launched on 2019-06-01, with a total token amount of 14,290,025,631, and currently 13,967,300,631 in circulation. The current exchange rate is 0.02 US dollars, and the highest is $0.379 (2021-10-26). In terms of token distribution, the ecosystem is 21.8%, development is 26.4%, the team is 16.9%, seed sales are 22.4%, and launchpad is 12.5%.
Then the TVL of this project is only 2 million US dollars. The TVL of a public chain is only 2 million US dollars, which is really miserable. So it’s no wonder that the market value is so low. Basically, when you see a public chain with this kind of TVL, you can just GG.
2.Just
JUST is Sun Ge’s stablecoin project. Everyone knows that Sun Ge’s English name is Justin sun, so you can also guess what the name of this coin means. The main mechanism is still to imitate the maker method.
JST is a dual-token system. The stablecoin is USDJ, which is a stablecoin pegged 1:1 to the US dollar and generated by mortgaging TRX on JST's CDP lending platform. JST is part of the USDJ monetary system. Holding JST can participate in fair community governance and pay the stability fee for CDP borrowing under a fair system.
But Brother Sun’s main purpose for this project is to empower TRON. It can be said that all of Brother Sun’s projects are for empowering his TRON, because the minting of stablecoins is through pledging TRX, which actually has little to do with the JST coin. The JST coin only has the function of Gov, and its benefits are actually very limited.
Currently, the trend of JST is still very weak. The lowest point of this bear market is only 0.02, and it is currently only 0.03, so it is almost motionless. The current market value is 300 million US dollars.
But judging from his own browser, the current supply of USDJ is 150 million, or 150 million US dollars, which is half the amount before.
The price performance of this project is also very weak. It does not have strong system enabling attributes and has completely become an enabling product of TRX. Moreover, the stablecoins on the chain are also continuing to weaken. The main reason is that people do not trust the stablecoins issued by Sun Ge himself. Because USDT has also issued coins on Tron, people may consider USDT more.
3.AMP
AMP is the native collateral token of the Flexa payment network. Flexa is a cryptocurrency payment network that makes it easier for merchants to accept cryptocurrency payments. Amp (AMP) was migrated from Flexacoin (FXC) at a 1:1 ratio. The current market value is 200 million US dollars, and it has actually increased by about 10 times this year. But overall it is still very weak, because its peak was 0.1, so it is not yet one-tenth of the previous level. From the overall point of view, there is almost no rebound, so when you see a project with this kind of K-line, you can almost consider giving up.
The project consists of the following main components:
-Flexa Payment Network: Flexa is a purely digital payment network. The Flexa network uses AMP to collateralize payments and enables users to use their digital assets in the real world.
- Collateral Manager: Custody accounts are built with different rules and specifications and can be customized to suit various use cases. Users can create a collateral manager with AMP as collateral to use in their applications.
-Token Partitions: Partitions in the AMP token contract allow different collateral managers to enforce rules on separate, distinct spaces associated with the same digital address. This enables users to “collateralize” tokens without transferring them to a smart contract.
Project implementation mechanism
Central to the Amp collateral model is the concept of collateral zones. Collateral zones represent subsets of Amp tokens that provide collateral for specific purposes and are distinguished by unique zone addresses on the Ethereum blockchain. Each collateral zone can be given its own set of rules regarding transfer pegs and privileges, and can also implement predefined zone policies to enable special features (e.g. tokens in the collateral model do not leave their origin address).
To lock, release, and reward collateral, Amp uses an on-chain collateral manager, which is a smart contract that manages Amp on behalf of a specific collateral application. The collateral manager interacts closely with the collateral partitions to allow, deny, and redirect Amp token transfers as needed and to support collateralization of value transfer activities. Amp is designed to support any number of collateral manager contract implementations, and anyone can build and deploy their own collateral manager smart contract to integrate Amp with their own applications and use cases.
The first Collateral Manager built on Amp is the Flexa Collateral Manager, which manages Amp tokens staked to the Flexa network to secure digital asset payments. To incentivize staking AMps, the Flexa Collateral Manager uses each collateral partition as a “pool” into which anyone can contribute Amp tokens and into which the Flexa Collateral Manager deposits network rewards as a percentage of the value of each successful transfer. Because of Amp’s role in the Flexa Network, it not only accumulates the value of the spending power of the entire network, but also provides a highly resilient and exponential network reward system.
I have checked the original and current official websites of this project, but I don’t see any products. So they are still making big promises after so many years. Secondly, when others pledge their assets, why should they pledge? If you promise high returns, then you don’t have the ability to make money. So it is a pure scam project. It is not like other people’s stablecoin pledge. After all, there is still demand for stablecoins.
To sum up, these three projects are pretty rubbish and are not highly recommended.