Binance Announce New Harmony Project In Wake Of Hack

In the wake of last week’s hack, Binance are showing no signs of slowing down operations and have quickly set about the launch of their fifth Launchpad project of the year, Harmony.

While some may have decided to keep a low profile following such a large-scale hack, Binance clearly are not letting it break their stride. Despite only getting withdrawals back up their week, but are already next for their project. With Launchpad, Binance’s token sale platform, set to offer the native token of Harmony, a scalable blockchain project, up for sale on the service.

As per the blog post that shared the news, Harmony’s purpose is to help business token their assets and incentivise user engagement, while also creating an open data sharing economy. Their blockchain service is said to provide business innovative state sharding and peer-to-peer networking on their blockchain. Ultimately, scaling is the showpiece of their model.

Speaking about the benefit of Harmony, Binance’s CEO and Founder, Changpeng Zhao. “The ambitious team behind the Harmony project proposes to solve this problem using sharding to parallelize transaction processing. I believe the team’s commitment to opening up blockchain technologies for billions of people will allow them to make a significant contribution to addressing the issue of scaling.”

Stephen Tse, Harmony’s CEO, noted that, “Harmony’s mission is to scale trust for billions of people and create a radically fair economy,” and believes that Binance will help provide “fast and secure blockchain for data sharing to business while preserving the consumer’s privacy.”

The sale starts at 06:00 UTC on May 28th, 2019 at Binance.