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The Komodo platform is different for different people. It is a decentralized exchange that supports 95% of the coins. It is an encrypted portfolio. It is a crowdfunding platform. And a cryptocurrency for privacy. And a fuel for a language-independent intelligent contract technology. Komodo is, to put it mildly, versatile.
And it is precisely for rebranding, we learn, the same day we created this snappy graphic. (Yes, we know that it is not a Komodo dragon – but it is a "monitor lizard" …)
We discussed Zcash and its improvement in Bitcoin's anonymity problem.
Komodo uses the same protocol as Zcash, adding a delayed trial work consent mechanism and SuperNET to the fork. SuperNET is a decentralized organization dedicated to creating open source tools such as a decentralized exchange called BarterDEX that can exchange atomics and a cross-chain compatibility tool called Peerchains.
Essentially Zcash 2.0, the Komodo team is (believe it) pseudonamo. The founder JL777 and his team believe in anonymity and privacy, an intriguing and frightening concept for investors. This means that it is in competition with private currencies such as ZCash, Monero, Dash and Verge.
Komodo has a lower profile than its competitors. It is somehow a rebranding of the original Bitcoin Dark program. Is it a strength or a weakness in today's cryptographic market?
To find out, let's start by analyzing the performance of the KMD market, the cryptographic currency of Komodo.
KMD Token Break
Komodo currently has a market capitalization of $ 119,810,947 from August 24, 2018. This is based on a circulating offering of 109,287,796 KMD (out of a total supply of 200,000,000) and an exchange rate of $ 1.10. Its maximum price of $ 12.89 occurred on 21 December 2017.
The Komodo ICO from October 15 to November 20, 2016 raised 2639 BTC and distributed 90 million KMD to investors. Another 10 million have been held by the Komodo team for future development and marketing purposes.
The KMD mining is obtained through a work trial algorithm and a delayed trial consent model. It is the opinion of the general crypto community that DPoW is 51% more resistant to attack than traditional PoW networks.
Inside, DPoW is designed to shorten the blockchain and improve processing speed by storing the older blocks in a way that makes them accessible if needed in the future. It is similar to the concept of sharding used by coins like Zilliqa and IOST and what helps to protect the privacy of transactions and the anonymity of users more than traditional coins like Bitcoin.
The KMD is tradable on Binance, Bittrex, Upbit and HitBTC, although the volume is quite low, with an average of less than $ 500,000 per day. Holding at least 10 KMD you get a KMD reward of 5.1 percent, so it's a nice coin to beat. It's hard to buy with fiat, but using BTC or ETH as a passthrough is quite simple.
There are some Komodo portfolios for all OS platforms and even for paper. Although Agama Wallet is official, Ledger Wallet, MyEther Wallet and a handful of others support KMD.
The Shroud of Mystery
One of the most interesting aspects of the crypto market is the number of scams perpetrated by known people against how many legitimate projects were launched by Anonymous.
Privacy is important to the Komodo team, but that does not mean it can not create a serious blockchain technology.
In reality, the Komodo roadmap is much more like the Ethereum than its private-coin mediators. Includes plans for an ICO platform, development of dApps, mobile wallets and a new new user interface.
Once developed, its DEX Barter will allow atomic exchange directly from your private wallet. It will also allow more orders for different currencies, a light database and decentralized orders to ensure full privacy of any exchanges. This is a live beta version at the moment, and more than 114,281 atomic swaps have already been processed.
Centralization with respect to decentralization is a problem of division into cryptography and Komodo clearly addresses the decentralized crowd. Fervent supporters of anonymity and privacy, KMD is likely to retain value, even if it remains under the radar of most people, where his community prefers to remain.
Summary of Komodo
While other coins fight to emerge in a crowded market, Komodo is happy to hide in the shadows. KMD is a private currency with a strong focus on decentralization.
It is much more than an encrypted vanilla currency, however, it hosts dApp and a decentralized exchange. Komodo is built for those who like to stay underground, and has a solid technological base to appease its demographics.
- KMD uses a delayed Proof-of-Work algorithm to remain lean and allow average computer and server users to compete with ASIC
- KMD is developing a decentralized cryptographic exchange that will enable atomic exchanges directly from users' portfolios, eliminating the need for intermediaries.
- Its open-source nature makes Komodo a Linux-like blockchain that is sure to retain value among its key users and technology-savvy investors.
With these pieces in place, Komodo is ready to stay in the shadow of the most popular coins. However, it can not fail during a bubble crash. With solid trading options and an emphasis on privacy, KMD will certainly be used as currency, even if only in the dark web, for years to come.
The author is not currently invested in coins, tokens or assets listed in this article.
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