Komodo 2018-02-07T20:17:52+00:00

what is Komodo price where to buy Komodo

What Is Komodo?

What is the Komodo Platform? A primary use case that they are seeking to bring to the world is that
of decentralized initial coin offerings.
The Komodo platform is driven by Supernet, a company that is focused on the decentralization of
ICO’s and also the decentralization of exchanges, they’re in the process of launching their
decentralized exchange called Barterdex. They also have a wallet, Agama, which can support atomic
swaps. The team certainly has quite a few projects in the works and they are striving to reach their
goal of the decentralized economy.

How does Komodo Work?

Komodo is an independent blockchain, a native blockchain, they have a wallet and an explorer as
well as micropayment channels.
Their platform is also comprised of a scalable payment network as well as Fiat pegged asset chains
and a blockchain database system.
They are seeking to pave the way to a decentralized economy. For them, the decentralized economy
will consist of language agnostic smart contracts, an extensive API library,
Language agnostic smart contracts allow for more adoption and minimal constriction. Developers of
all backgrounds will be able to create smart contracts in the language that they prefer, allowing for
more production.
The team also seeks to deploy Zcash Private transactions and an implementation of the Lightning
Network.
With the integration of Zcash private transactions, the user will be able to take advantage of the
private send functionality, providing them with privacy as they conduct their transactions. This
makes Komodo a strong privacy coin.
The other aspect is that Komodo has been conducting atomic swaps on the lightning network for a
while.
Atomic Swaps or atomic cross-chain trading, is important because it allows for the facilitation of the
exchange of one cryptocurrency to another cryptocurrency, without the need to trust a third-party.
A relatively new piece of technology, atomic cross-chain trading is looking to revolutionize the way
in which users transact with each other. Atomic swaps are expected to increase in the year of 2018.

In regards to mining, Komodo uses a delayed proof of work system.

The Benefits

The Komodo platform is seeking to decentralize everything and provide for instant payments,
scalability, low costs and cross blockchain swaps. Swapping across blockchains is limited to
cryptocurrencies that have a similar codebase to that of Bitcoin Core blockchain. They may be
looking at ways to expand as they will have to compete with the Comit Network.

More Information & Resources

Komodo (KMD) Live Price:

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