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Komodo

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Description

What does Komodo do?

Komodo, which launched in early 2017 as a fork from Zcash, is a quickly growing cryptocurrency that has three distinct phases of value offerings.

Komodo’s first phase is marked by a focus on private and secure payments. Private payments are an optional service offered by the project with its Jumblr feature. Security is a major highlight of Komodo’s, achieved with its dPoW (delayed Proof of Work) consensus mechanism, which continuously backs up the main blockchain (and the entire Komodo ecosystem) to Bitcoin’s blockchain. This backup occurs roughly once every ten minutes.

The project’s second phase is platform evolution, which targets developers and businesses that wish to operate their own individual blockchains. These blockchains also benefit from being backed up and secured by both Komodo’s main blockchain and Bitcoin’s blockchain.

The third phase of Komodo’s value offering is its BarterDEX which connects all of its blockchains together, promoting interoperability with atomic swaps. Decentralized ICOs which use atomic swaps to make coins and tokens available immediately are another key feature.

What is KMD used for?

KMD, the native currency of Komodo, is used for several purposes. Like most cryptocurrencies, KMD are used to transfer value between users. Additionally, all wallets that hold at least 10 KMD in a wallet are capable of generating 5% yearly returns, which are called “active user rewards.”

KMD is also integral to the platform’s dPoW consensus mechanism which continually backs up all blockchains in the Komodo ecosystem to Bitcoin’s blockchain..

How can KMD coins appreciate?

Since KMD is used to secure Komodo’s blockchain and pay for other features offered on the platform (Jumblr, decentralized ICOs, etc.), KMD’s value will appreciate proportionately with adoption of the platform. As more businesses build custom blockchains on Komodo, the need for its native currency will increase.

The total coin supply is capped at 200 million, making the tokens potentially scarce. This scarcity, combined with the 5% yearly active user rewards gained from holding the KMD will incentivize users to see it as a valuable crypto to buy and hold, raising its price.

What is the difference between KMD and its competitors?

Since Komodo offers such a wide range of functionality, it’s difficult to pin down any direct competitors.

When compared to decentralized exchanges such as Waves and BitShares, Komodo’s BarterDEX is largely considered to provide the best technology as it doesn’t use proxy (intermediary) tokens and offers true peer to peer atomic swaps..

Komodo faces tough competition in the ICO field from Ethereum, NEO, Waves, and NXT. However, Komodo distinguishes itself by providing security to ICO participants. Also, Komodo’s ICOs can have completely independent blockchains, which helps with scalability by keeping a significant amount of data off the project’s main chain. These independent chains are also “future proof” as they receive all updates to the Komodo main chain and benefit from cross-chain smart contracts and blockchain interoperability.

  • Mainnet Launch: -
  • Open Source: Yes
  • Consensus Type: Proof of work (PoW)
  • Technology: Blockchain
  • Total Coin Supply: 104,221,320
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Description

What does Komodo do?

Komodo, which launched in early 2017 as a fork from Zcash, is a quickly growing cryptocurrency that has three distinct phases of value offerings.

Komodo’s first phase is marked by a focus on private and secure payments. Private payments are an optional service offered by the project with its Jumblr feature. Security is a major highlight of Komodo’s, achieved with its dPoW (delayed Proof of Work) consensus mechanism, which continuously backs up the main blockchain (and the entire Komodo ecosystem) to Bitcoin’s blockchain. This backup occurs roughly once every ten minutes.

The project’s second phase is platform evolution, which targets developers and businesses that wish to operate their own individual blockchains. These blockchains also benefit from being backed up and secured by both Komodo’s main blockchain and Bitcoin’s blockchain.

The third phase of Komodo’s value offering is its BarterDEX which connects all of its blockchains together, promoting interoperability with atomic swaps. Decentralized ICOs which use atomic swaps to make coins and tokens available immediately are another key feature.

What is KMD used for?

KMD, the native currency of Komodo, is used for several purposes. Like most cryptocurrencies, KMD are used to transfer value between users. Additionally, all wallets that hold at least 10 KMD in a wallet are capable of generating 5% yearly returns, which are called “active user rewards.”

KMD is also integral to the platform’s dPoW consensus mechanism which continually backs up all blockchains in the Komodo ecosystem to Bitcoin’s blockchain..

How can KMD coins appreciate?

Since KMD is used to secure Komodo’s blockchain and pay for other features offered on the platform (Jumblr, decentralized ICOs, etc.), KMD’s value will appreciate proportionately with adoption of the platform. As more businesses build custom blockchains on Komodo, the need for its native currency will increase.

The total coin supply is capped at 200 million, making the tokens potentially scarce. This scarcity, combined with the 5% yearly active user rewards gained from holding the KMD will incentivize users to see it as a valuable crypto to buy and hold, raising its price.

What is the difference between KMD and its competitors?

Since Komodo offers such a wide range of functionality, it’s difficult to pin down any direct competitors.

When compared to decentralized exchanges such as Waves and BitShares, Komodo’s BarterDEX is largely considered to provide the best technology as it doesn’t use proxy (intermediary) tokens and offers true peer to peer atomic swaps..

Komodo faces tough competition in the ICO field from Ethereum, NEO, Waves, and NXT. However, Komodo distinguishes itself by providing security to ICO participants. Also, Komodo’s ICOs can have completely independent blockchains, which helps with scalability by keeping a significant amount of data off the project’s main chain. These independent chains are also “future proof” as they receive all updates to the Komodo main chain and benefit from cross-chain smart contracts and blockchain interoperability.

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