After a few days, we’ve got another part from our series: “Know Your Cryptocurrency”. This time we will introduce the Komodo cryptocurrency (KMD).
What is Komodo?
Komodo is a decentralized platform for ICO projects (dICO) that uses an open source system for transparent, anonymous, private or interchangeable transactions. Due to Blockchain technology, this platform is very secure. DPoW (Delayed Proof of Work) also helps to secure. For the first time in the cryptocurrency´s history, it is possible to release and propagate cryptocurrency without a trusted third party. As a result, dICO is not distinguished from other ICOs by decentralization, but also by Komodo Jumblr technology, which guarantees complete privacy for all ICO parties. Additionally, dICO on the Komodo platform does not require high fees because each asset chain is independent of a block that is secured by dPoW. This allows to pay all dICO transaction fees for dICO.
The strategic partner of Komodo Platform – Monaize will be the first to use this revolutionary technology. Their ICO will be the first of its kind and will place the Komodo platform in great attention. The three main sites that this platform offers are:
- Privacy – With the Komodo platform we can choose between transparent or anonymous transactions. Thanks to the technologies called zk-SNARK, the sender, receiver and the amount of money sent remain anonymous.
- Security – Komodo has security like Bitcoin. Thanks to the new mechanism, all transactions will take place in complete anonymity and security.
- Stability – Komodo is the gateway to all new ICO projects built on this stable platform that will automatically be fully compatible with this platform.
The Komodo platform will help develop cryptocurrency space by providing third-party security, power applications with privacy features, and providing the means to achieve price stability in peer-to-peer payment services.
Strategic Partnership & ICO
What happens when leading innovators in banking meet with Blockchain experts? Monaize shares the same enthusiasm and vision as the Komodo. Together, they have taken over the strategic plan for the rapid adoption of cryptocurrency and Monaize will launch the first ICO project at the end of this year on the Komodo platform.
“We have decided to cooperate with the Komodo platform not only for the technology but also thanks to the team that shares our passion for the transformation of financial services.” – Robert Miller, founder of Monaize.
- Monaize – an electronic banking platform that understands where the banking industry is heading. It will use Komodo as a gateway to Blockchain technology, linking the two financial worlds together. Monaize will also be the first bank to provide products and services based on Blockchain for their clients.
- Zcash – This is an open project for cryptocurrencies using the zk-SNARK protocol. This is a new cryptographic protocol that ensures the privacy, anonymity, and substitutability of any cryptocurrency. Komodo uses the same protocol for private and anonymous transactions.
- Delayed Proof of Work (dPOW) – This is a new protocol developed by Komodo developers. It’s a mechanism that uses a regular PoW protocol (just like Bitcoin), but it works a little differently. The dPoW mechanism provides total invariance and provides transactions with a second layer of security. This work performs 64 knots and mitigates the risk. This means that if an attacker wants to change the Komodo historical transaction, he must first change the Blockchain Bitcoin and as we know, it is not possible.
- SuperNET – SuperNET is a decentralized organization that develops open and decentralized tools for the cryptocurency market. It develops, for example, wallet with multiple coins, decentralized exchanges and products with price stability. Cryptocurrency Komodo is the official currency of SuperNET.
Komodo Team
Almost all members of the Komodo team believe in privacy and therefore use pseudonyms. Maybe people will think that this is a kind of scam, but it is not.
Basic information
Market capitalization: $ 270,264,442
Volume (24h): $ 3,954,580
Tokens in circulation: 100,945,510
Price when writing this article: $ 2.68
Stock Exchange: Coinexchange, Bittrex, Cryptopia, Cryptox
Main Page: https://komodoplatform.com/
Twitter: @KomodoPlatform
Verdict
Komodo is a quality cryptocurrency suitable for long-term holding. It’s one of those cryptocurrencies which need time to get things started. We wish you a nice day!
Source: https://komodoplatform.com/
