Sirwin
Sirwin

E&S Token Review: Komodo (KMD)


Hello Publish0x community and welcome back in this new article of my Easy & Short Cryptocurrencies Made Accessible area.

Today we are going to introduce a new cryptocurrency: Komodo (KMD)!

After almost 6 months since the start of this E&S section on Publish0x, we have already analyzed 11 coins for a total of 25 dedicated articles! But don't worry, several more articles are coming with new coins to discover, so follow my profile and get ready for the next articles! But now let's start with our 12th coin, Komodo!

Komodo is a secure, stable and inter-operable blockchain platform and ecosystem that provides end-to-end blockchain solutions for developers in any industry. Komodo was born as an offspring of Bitcoin Dark (BTCD), which is one of its key platform projects as it is geared towards solving Bitcoin's privacy issues. The official birth of the Komodo platform is said to be on February 21, 2016, when project leader James Lee announced the "Declaration of Independence" from the bitcoin blockchain, which resulted in the development of a specific blockchain, jointly developed on cross-chain atomic asset transfers. Like most privacy coins, the Komodo team remained anonymous for a while. However, as the project gained momentum, many of the team members chose to reveal their identities.

Designed to complete transactions while maintaining anonymity, Komodo was the first cryptocurrency to use a delayed Proof-of-Work (dPoW). The Komodo platform uses blockchain technology that aids in the flexible, secure, inter-operable and scalable creation of business solutions designed on blockchain.

Komodo is a fork of Zcash, which is itself a fork of Bitcoin, also focused on privacy. This means that features that characterize Zcash are also present in the Komodo platform, such as the zero knowledge proof protocol.

What are the peculiarities of Komodo?

What sets Komodo apart is in fact the way it addresses the principles of security, scalability, adaptability and interoperability and below we will look in detail at each of them!

  • Security: is the most critical aspect of any blockchain project. Komodo uses the delayed Proof-of-Work (dPoW) consensus algorithm that protects the platform with the hashing power of the Bitcoin (BTC) network. With dPoW, attackers would need to overwhelm the KMD and BTC blockchains simultaneously, which is rather impossible.
  • Scalability: unlike other enterprise solutions, Komodo allows each project to have its own dedicated infrastructure and blockchain. All projects in the Komodo ecosystem can scale at any time and add additional blockchains to improve performance.
  • Adaptability: Komodo is an open source project recognized for its innovations and new features. Any project built with Komodo can create custom solutions that work for any situation and need.
  • Interoperability: It uses blockchain federation technology that provides the means for seamless cross-chain interoperability with federated chains. Moreover, Komodo blockchains can use atomic swaps to connect to other chains outside the federation.

Thus, we can say that the Komodo platform is a perfect fit for innovative developers, blockchain technology-based startups, and existing companies with complete end-to-end blockchain solutions!

Komodo

If you want to find out more details about this cryptocurrency, I suggest you to follow me on Publish0x to receive the notification on the next article, which will be released next Sunday, dedicated to KMD!

 

Suggest me with a comment some crypto you would like to see analyzed in the next E&S articles!

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MikeZillo
MikeZillo Verified Member

Daily Trader, Mining Farm Project Manager, Blockchain consultant, Cryptocurrency evangelist. You can find more videos here https://www.youtube.com/channel/UCvyXx6I1C__zmLAYUXNZwQQ? Telegram: @mikezillo


Easy&Short. Cryptocurrencies made accessible
Easy&Short. Cryptocurrencies made accessible

In this section, we are going to create two article per each cryptocurrency/token. The first one will be technical, with a simplification of the Whitepaper and the second one will be about particulars of the coin. For example staking yields, particular functions and so on! I am sure you will like this very much!

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