Komodo

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Komodo platform logo

Komodo(KMD) is a cryptocurrency project that focuses on providing anonymity through zero knowledge proofs and security through a novel Delayed Proof of Work (dPoW) protocol. The Komodo Platform was forked from Zcash by the SuperNET team and it is the evolution of the BitcoinDark cryptocurrency[1].

Komodo (KMD) ICO start date: 2016-10-15

Komodo Price Online From CoinMarketCap

Description[edit]

Komodo Platform Vision & Technology, Amsterdam June 2017

Komodo is a new standard for cryptocurrency security and anonymity. Protected by Zcash Zero Knowledger proofs, users can make 100% untraceable transactions.

The SuperNET team has also developed a hand full of individual tools that will stand together with Komodo to form a complete ecosystem with advanced functionalities like decentralized trading and mixing. Based on bitcoin dark and Zcash principles- A new mining algorithm, dPoW (delayed proof-of-work), uses bitcoin network hash power- Anonymous team, but the main developer is well-kinown in the community and has frequently worked with the Super.NET project.

Komodo holders receive 5% annual percentage rate (APR) revenue. Every KMD holder will receive it, and it is indeed automatic as there are no settings to turn on, no modes to activate or no passwords to unlock. The 5% APR will remain until the max supply of 200M KMD is reached. Only T-address balances will get the APR.

More information in the project whitepaper: Komodo White Paper

Privacy[edit]

The Komodo Platform relies on the technology developed by the Zcash team, Zero Knowledge Proofs. This technology allows the transactions within the Komodo blockchain to be 100% private or transparent according to the privacy requirements of each situation.

When transactions are private, no one can see the amount, sender or recipient of the transaction on the blockchain, although miners can verify that it is correct and that no double-spending has taken place. When the transactions are transparent, they behave like a normal Bitcoin transaction. Anonymous transactions are important, not only to protect user privacy but also to ensure that all the coins remain fungible, which is one of the basic requisites for any currency[2].

Security[edit]

Komodo has a novel way of dealing with security. At its core, Komodo is a proof-of-work cryptocurrency with regular mining. But it also has a Delayed Proof of Work system, one that is able to "recycle" Bitcoin's hashrate to ensure Komodo's immutability.

Through 64 pre-selected notary nodes that are voted on by the community, Komodo is able to notarize its blocks on the Bitcoin blockchain, ensuring that almost any attack attempt is mitigated since an attacker would also need to change the Bitcoin blockchain to tamper with Komodo[3].

The block data from Komodo is introduced in Bitcoin via custom transactions made by the notary nodes that are connected to both blockchains. Any discrepancy on either blockchain will be detected by these nodes.

dPoW Blockchain

This consensus mechanism can be used by basically any cryptocurrency that wishes to better its security system. Through Komodo itself, other blockchains can plug into Bitcoin, saving costs on the transaction fees (that are cheaper on Komodo).

Market[edit]

Where to buy Komodo coin:

KMD market cap on 131 May 2018: $270,644,899 USD

KMD price on 31 May 2018: 2.60 USD

See also[edit]


External links[edit]

References[edit]

  1. What is the Komodo Platform? Komodo coin review
  2. Komodo Platform - Сoinsutra
  3. Reddit Komodo Platform Reddit


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