Komodo (KMD) Crypto Project | An Open, Composable Smart Chain Platform

Komodo (KMD) Crypto Project | An Open, Composable Smart Chain Platform

By NassiroV | CryptoPlanet360 | 25 Feb 2020


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Komodo is an anonymous, secure and decentralized platform that allows transactions to be made via the blockchain. Komodo was born following a fork of ZCash.

The system therefore offers anonymous and encrypted transactions using zk-SNARKS technology. Komodo combines the anonymity of the Cash network with the high security of the Bitcoin network. Strictly speaking, we cannot consider Komodo as a true competitor of Bitcoin but rather as an innovative project which uses Bitcoin technology.

The Delay Proof of Work

For the functioning of the blockchain, Komodo uses a specific consensus: the Delay Proof of Work. It provides security as great as that used on Bitcoin but has a much lower consumption of computing power and energy. The Komodo blockchain uses 64 Notary Nodes. These are the nodes of the network which are used to check the Komodo blocks on the Bitcoin blockchain. This process ensures security. All cryptocurrencies can use the dPoW protocol by grafting on the Komodo blockchain.

BarterDEX

The technologies of dPoW and Notary Nodes allow you to create personalized transactions called Atomic Swaps. These Atomic Swaps are carried out via BarterDEX. It is a decentralized exchange which operates in total autonomy, developed by the Komodo team. In this way, users can exchange tokens with each other without any intermediary, unlike traditional trading platforms.


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NassiroV
NassiroV

Hi, and welcome to my blogs :)! ​I’m Nassir, a thirty-something guy who loves to travel and write, especially about Crypto and Blockchain. I have been blogging and trading cryptocurrencies for a while. I hope that you find my articles beneficial to you.


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