Almost every day a new crypto-coin is launched in the cryptocurrency market. While most of them clone an existing blockchain, some currencies are built from the ground up. The market has over 5000 cryptocurrencies currently in trading.
Among a large number of coins, one currency that has risen amongst the top 50 cryptocurrencies is Komodo (KMD).
What is KMD?
Innovation is fuelled by competition, and the blockchain industry is full of it. The number of niche blockchain platforms is huge, but most of these compete on four principles, viz. interoperability, security, adaptability, and scalability. The development of Komodo commenced in 2014, and the platform was developed on the technologies used by ZCash and Bitcoin blockchain. Since its launch, Komodo has been a pioneer for several innovative use cases.
The Komodo platform provides an interoperable, secure, and stable ecosystem that offers an end-to-end blockchain solution. Using this platform, you may create your blockchains and also host token sales. The Komodo platform includes features of Zcash, such as the zero-knowledge proof mechanism. Additionally, it also utilizes an open-source protocol to provide private, anonymous, and fungible trades. The platform uses delayed proof of work (dPOW), which provides a new mechanism to notarize the blocks to deliver complete immutability to offer an additional security layer for safe transactions.
The coin, denoted as KMD, is the native currency of this platform. It is a privacy-focused currency with security being a fundamental feature of the Komodo platform. The total volume of KMD is capped at 200 million. Out of these, 100 million were pre-mined and distributed via an Initial Coin Offering (ICO). 90 million of the pre-mined coins were distributed among various investors, and the balance was retained for further development of the Komodo platform.