Komodo

What is Komodo?

Komodo (KMD) stands as a Blockchain platform derived from Zcash, with a primary emphasis on four key pillars: security, scalability, interoperability, and adaptability.

Within the Komodo (KMD) platform, developers have the capability to:

• Construct their own Smart Chains.
• Establish connections and interactions with other Smart Chains situated on the Komodo Platform.
• Engage in the trading of digital assets on the Komodo Platform utilizing Atomic DEX, Komodo's token swap solution.

Consequently, the Komodo Platform can be viewed as a Blockchain platform that integrates the anonymity technology of Zcash with the security features of Bitcoin.

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Recent Video Interview

Main points of the interview:

• Upcoming updates, including Web 3.0 support, enhance accessibility across platforms and operating systems.
• The ongoing beta phase allows users to test the Atomic DEX, emphasizing its multi-chain capabilities and bridging solutions.
• Partnerships with communities like Digibyte aim to expand usability and integration, fostering broader adoption of the Atomic DEX.
• Future plans include enhancing security with hardware wallet support and protocol improvements, aiming for mainstream adoption in 2022.

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How Does Komodo Work?

Komodo employs a distinctive delayed Proof of Work (dPoW) system to bolster security against 51% attacks. This system, supported by Litecoin cross-notarizations and a notary node network, safeguards over 30 production blockchains. Additionally, Komodo features its native multi-chain blockchain network, enabling the creation of independent blockchains known as Komodo Smart Chains (KSCs). These KSCs operate autonomously from the KMD chain, each with its own coin characterized by zero gas fees and customizable parameters. Furthermore, Komodo provides Komodo Custom Contracts (CCs), a library of UTXO-based smart contracts designed for developing sophisticated decentralized applications (dApps) on KSCs.

The KMD Token

The KMD coin in the Komodo ecosystem serves a dual role as both a cryptocurrency with anonymity features and a key component in operating the Komodo blockchain network. Its utility spans various functions, including facilitating AtomicDEX swaps, serving as a payment method, participating in ICOs, earning staking rewards, and contributing to the operation and security of the Komodo Platform.

KMD coin is also essential for accessing additional features on Komodo, paying fees for side chains, and backing Stable Coins through the Antara Framework. This versatile role positions KMD as a central element in the functionality and development of the Komodo ecosystem.

Komodo Team Background

In 2014, Komodo was initiated by its founder, James "jl777" Lee, who, at the time, served as a core developer on a separate project. Recognizing the necessity for decentralized trading, Lee undertook various projects to address this need.

The native token, KMD, had its origins as a fork of Zcash, initially known as BitcoinDark (BTCD), itself a fork of the Bitcoin blockchain code. BitcoinDark functioned as a privacy coin, implementing zk-SNARK technology and other Zcash parameters. However, when James Lee joined Komodo in 2016, he redirected its focus towards open-source technologies to facilitate the launch of independent blockchains. Consequently, the BitcoinDark privacy coin project transitioned into the development of KMD, aligning with Komodo's revised mission.

Komodo Project Development

On July 10, Komodo officially announced the renaming of its flagship end-user application from "AtomicDEX" to "Komodo Wallet."

The organization also opted to rename “AtomicDEX API” to “Komodo DeFi Framework.” The Komodo DeFi Framework encompasses two APIs, namely the Wallet API and DEX API, offering an optimal solution for developers aiming to launch DeFi applications, including non-custodial wallets, cross-chain DEXs, IDO portals, or comprehensive all-in-one solutions.

All of Komodo’s products will now be consolidated under a new unified brand umbrella known as “Komodo SDK.”

Komodo Price Analysis

As of November 24 2024 Komodo has a marketcap of $43M. This is {{percentagefromath}} from its all time high of $11.54. In terms of its tokenomics, there's a total supply of 200M with 70% currently outstanding. Keep in mind Komodo has a fully diluted value of $61M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.