Komodo

Komodo(KMD) is a cryptocurrency project that focuses on atomic swap, smart chains, and blockchain security as a service. The Komodo Platform is based on Zcash and was founded by the SuperNET team. In 2019, Komodo removed all privacy features from the KMD blockchain[1]. Komodo (KMD) ICO start date: 2016-10-15

Description[edit]

Komodo Platform Vision & Technology, Amsterdam June 2017

Komodo is a community-oriented blockchain project for passionate, dedicated, and friendly tech enthusiasts.

KMD is the native cryptocurrency of the Komodo community. It is a sovereign, secure, and scalable coin that represents community values and aspirations.

Komodo open-source technologies enable developers to create robust cross-protocol DeFi applications such as multi-coin wallets, cross-protocol DEXs, and NFT marketplaces .

Produced by Komodo, AtomicDEX is a non-custodial multi-coin wallet and an integrated atomic swap DEX rolled into one app. AtomicDEX is available on all device platforms and provides the widest cross-chain capabilities for trustless trading in the entire blockchain industry.

Additionally, Komodo offers business services for companies seeking to implement blockchain technology.

AtomicDEX[edit]

AtomicDEX is the first end-user application built on Komodo AtomicDEX API.

AtomicDEX is a secure cryptocurrency wallet with an integrated atomic swap DEX rolled into one application. Users can store cryptocurrencies and make cross-chain swaps without a middleman.

Unlike most decentralized exchanges, AtomicDEX isn’t built on a single blockchain protocol. AtomicDEX offers the widest cross-chain and cross-protocol support in the entire blockchain industry. Traders can swap thousands of cryptocurrencies natively from dozens of blockchains — no proxy tokens required.

Komodo AtomicDEX API[edit]

Komodo AtomciDEX API is the underlying technology that powers secure, peer-to-peer atomic swaps. It is a complete suite of open-source blockchain development tools, which includes an atomic swap engine (backend/core), DEX feature set, and APIs. Komodo AtomicDEX API provides developers with access to the blockchain industry’s widest cross-chain and cross-protocol support.

Komodo AtomicDEX API facilitates the trustless, secure exchange of digital assets across multiple blockchain networks. Both UTXO-based and account-based networks are supported. Any asset that supports time-locked or hash-locked payments can be integrated.

BTC, BNB/BEP-20 tokens, ETH/ERC-20 tokens, and LTC are just a few examples of digital assets that are already supported. Komodo AtomicDEX API is both asset-agnostic and protocol-agnostic, meaning developers can expand wallet and trading support to new blockchain protocols.

In March 2021, DogeDEX became the second decentralized exchange in the AtomicDEX ecosystem. It surpassed 10,000 users only ten days after launch.

Komodo Smart Chains (KSCs)[edit]

The Komodo blockchain network uses a multi-chain architecture, which means there are no gas fees for ecosystem projects. Each independent blockchain (Komodo Smart Chain) gets its own coin, and all transactions are made in that coin.

Komodo's multi-chain architecture enables anyone to launch a Komodo Smart Chain (KSC) with customizable parameters, including coin name, blockchain consensus rules, mining and/or staking rewards, block times, and other features. Blockchains can also implement UTXO-based smart contracts.

PirateChain (ARRR), Verus Coin (VRSC), and Tokel (TKL) are examples of crypto projects that run on KSCs.

Delayed Proof of Work (dPoW)[edit]

In addition to ordinary Proof of Work (PoW), Komodo uses a secondary security layer called delayed Proof of Work (dPoW). This mechanism recycles the giant hash rate of the Litecoin network through a series of cross-chain notarizations.

Prior to June 2021, dPoW used the Bitcoin network. dPoW now uses Litecoin for five main benefits: cost-efficiency, low resource consumption, high hashrate, fast block times, and mining decentralization.

dPoW secures the KMD blockchain as well as Komodo Smart Chains (KSCs) and UTXO-based chains outside of the Komodo ecosystem. dPoW has successfully defended against real 51% attack attempts and currently secures over 30 production blockchains, protecting several hundred million dollars in value. Annual fees are marginal compared to the level of security provided.