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  1. Home
  2. /Glossary
  3. /Harmony
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blockchain

Harmony

A Layer 1 blockchain that uses sharding and effective proof-of-stake for fast, cheap transactions.

Definition

A Layer 1 blockchain that uses sharding and effective proof-of-stake for fast, cheap transactions. Harmony suffered a major bridge hack in 2022 that drained $100 million from its Horizon bridge, which significantly damaged the ecosystem's growth and user trust.

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Related Terms

Layer 1

The base blockchain that processes and finalizes transactions.

Sharding

Splitting a blockchain into smaller pieces (shards) that process transactions in parallel.

Bridge

A protocol that lets you move tokens between different blockchains.

ABI

Application Binary Interface.

Account Abstraction

A way to make crypto wallets behave more like normal apps by turning every account into a smart contract.

ERC-4337

The Ethereum standard for account abstraction without changing the core protocol.

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