The 3 chains Harmony must bridge to and Why?

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The 3 chains Harmony must bridge to and Why?

Discussion

1st- Celo

2nd- Algo

3rd - XRP

Why: 1.) - CELO- is the Fedcoin. The fedcoin will come from CELO. Why- Celo was originally founded by a team comprised of people from MIT, Stanford, Google, Square, Circle, Visa, GoDaddy, World Bank, Federal Reserve Bank, Harvard University, University of Pennsylvania Law School, Cambridge University, U.S. Department of Justice, Bank Of America, Capital One, Twitter, Give Directly, and the Gates Foundation. (Can it be any more clear?!)

2.) ALGO- Silvio Micali is the founder and a blockchain superstar. He is a professor of computer science at the MIT and recipient of the Turing Award. Algo is backed by the establishment.

3.) XRP- Is a comprehensive monetary payment platforms like SWIFT. Its backed by universities, banks and countries. The SEC has recently tried to slow XRP down but it is establishment backed.

Close 3rd Theta- Theta (THETA) is a blockchain powered network purpose-built for video streaming. Its got 5 US patents and the establishment in the US GOV and the entertainment industry (and google, sony) backing it.

Harmony needs to ride the establishment wave and bridge to the blockchains NOW. The is no reason to paddle upstream just find the gov, media and establishment blockchains.

Harmony is one of the best chains but ite time to bridge to the main continents in the blockchain world and that is CELO, ALGO and XRP.

Also, it would be great to see Harmony be one of the first blockchains to acquire and or merger with another blockchain. (Why- mergers, acquisitions and buyouts are coming to this industry).

And wheres the Apple, Inc. support for Harmony?!

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Nice write up, but I think the Liquidity on the above mentioned chains are comparatively low.

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mohanarvindk,

thank you for your thoughtful response but this conversation needs to go a bit deeper then early industry “flashy” metrics. The world is in a Currency War and talking flashy MySpace vs Facebook, Yahoo vs Google metrics is just silly.

Instead of building towards the flashy “new” chains with liquidity, metrics and ideas of the moment Harmony should be building toward the chains of the future. ****Quickly- the future is UBI (harmony nailed this one), Carbon Credits, Smart Contracts, NFTs (yes everyone doing this), Payment Systems to replace (SWIFT), Play to Earn, Blockchain as a Service (think VeChain).

I agree the liquidity on CELO, Algo, XRP and Theta are low but as we move into a “shadow” regulatory environment (where the governments pick the winners and the losers, and they are already do this, so this is precedence) those chains that have been created with government & establishment resources will thrive and these companies and organizations always do.

In the financial game we have a saying don’t fight the Fed (the federal reserve). Why- because the fed is backed by the government, university, establishment, the institutions and the US military.
Right now, the world is in a full fledge currency war. (The trade war, turned into a supply chain war, then a biological war, now currency war)

Its best to be steering Harmony towards safety (the establishment chains, that will continue to grow because they are and will be supported no matter what) and stay away from the shadows.

Speaking as a owner of $one and a discerner of the financial world.

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I have a different view of the projects you mentioned.

1- Celo is a great project, but not for the points you pointed out, there is no “fedcoin”, they have great advances in the World Economic Forum and are focused on mobile, that is, this entitles them to something much more solid than an FED coin or something. Recently they made the Valora App independent, this is also important

2- This hype about celebrities in crypto space is very momentary, the old ones must remember Max Keiser with Startcoin.

3- There is a big difference between Ripple (Labs) and XRP, the first is really a company that can add to the scenario if well supported by the state, but XRP (currency) is totally unnecessary, the issuance, control and all other factors are totally “no rules”.

Crypto bridges are very expensive to be developed in cryptospace, easily cost 1M to be developed and another very high cost for their maintenance. You can check this information in the CELO Treasury discussion and Neon Labs AMAs (Solana).

A lot must be well aligned before considering building a bridge to other blockchains, one of these things is the demand for the product, the other blockchain and core share the same values ​​and objectives, investment (investment that could be being injected directly into the ecosystem of Harmony), risks vs. benefits and a more concrete assessment, not so much speculative.

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Thank you for the well thought out response.

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Don’t forget flare tokens are the airdrop from xrp to form their decentralised exchange. I would not stop as just those 3 there is a new token in development all the time to future proof our decentralised world we are moving to. We must think of quantum resistance as well as speeding up the whole network. Remember you always run on another layer the network speed is the key to really bring in apps and other tokens would love to bridge to a network that is not only fast but low transactions.