In the world of cryptocurrencies, Komodo crypto is one of the most famous. A privacy-focused variation of the Bitcoin protocol, KMD was formerly known as Bitcoin Dark (BTCD). The delayed proof-of-work (dPoW) consensus method, a breakthrough used by the Komodo platform, recycles Bitcoin’s hash rate to safeguard its own blockchain. The rest of the article is a review of the Komodo crypto, to which we now give a brief introduction.
A Review About Komodo Crypto – 2023
The cryptocurrency used to power The Komodo Platform is called KMD. For developers of any experience level and from any industry, the platform focuses on offering comprehensive end-to-end blockchain solutions. It is straightforward yet effective, enabling smart contracts that are simple to set up and tailor to your needs. Komodo wants to establish a strong community of partners and developers who will work together to foster an environment where anyone can quickly become proficient in blockchain technology.
What is Komodo Crypto?
The Equihash algorithm, a delayed proof-of-work consensus method, is used by the decentralized, open-source blockchain Komodo. The purpose of Komodo is to offer a complete solution for blockchain-based applications, including a platform for ICOs, atomic swaps, and decentralized exchanges (DEX).
The platform likewise seeks to assist developers in conducting transactions while maintaining their anonymity. The Komodo blockchain claims that it will make blockchain-based business solutions more flexible, interoperable, and secure.
64 dedicated servers, or Notary Nodes, enable the Bitcoin network to record a backup of the Komodo chain every 10 minutes. In the event of a hijack, this protection assures that changes won’t be acknowledged because the Bitcoin network backups won’t reflect them.
AtomicDEX
The third generation of Komodo’s atomic swap technology is called AtomicDEX. Atomic switch technology was initially introduced by Komodo in 2016, according to Tier Nolan. Since that time, Komodo has worked to advance atomic switch technology and now provides the first atomic swap DEX that is ready for production.
On its website, AtomicDEX describes itself as “a secure wallet and non-custodial decentralized exchange rolled into one application.” AtomicDEX allows you to:
- Store your coins
- Trade peer-to-peer with minimal fees
- Control your digital assets
Competitive decentralized exchange is made possible by AtomicDEX. It makes it simple for people to swap and exchange cryptocurrency with one another. Its Atomic Swaps enable direct trading between several coins. Users of AtomicDEX have total control over the private keys to their cash at all times because they are not required to pay money to any centralized or decentralized party throughout the trading process.
Roadmap
The platform has divided its roadmap for 2023 into four parts and has now completed the first part. Below are the details of the roadmap.
2023 Q1
- Trezor HW Support enhancement
- Cosmos IBC Support
- Lightning Network Integration
- Project-wide security assessment
- AtomicDEX mobile open sourcing
- Komodo Zebra Client alpha release
- Komodo Tokenomics Upgrade Poll
2023 Q2
General:
- NFT Wallet Support (ERC721 & ERC1155)
- AtomicDEX core upgrade (efficiency, interface enhancements, Blockbook, compression)
- (HD) Multi-account wallet support
- Fiat On-ramp
- Lightning Network Integration (AtomicDEX Web & Mobile)
- ARRR Swaps (AtomicDEX Mobile & Web)
- Nucleus Launch (Cosmos Chain / IBC interop solution)
- Komodo S7 NN Elections and network upgrade
- New Komodo Platform Website Launch
R&D:
- NFT Swaps
- Watch Tower LP Market (“Offline orders”)
- Advanced Swap Protocol (new & more efficient trading protocol)
- Streaming API interface (API)
- Ledger Hardware Wallet Support
- Additional NFT protocols
- SPV upgrade (Blockbook)
- AI-powered market metrics
2023 Q3
General:
- Trading Bot Compatibility / LP Interface
- Trading protocol upgrade
- Advanced Swap Protocol
- NFT Project Launch
- Komodo Zebra Client beta release
R&D:
- ADEX Browser Wallet Extension (Chrome & Firefox)
- IPFS account persistence/backups (“log in from anywhere”)
- AUTH upgrade (WalletConnect, MetaMask, Keplr)
- dPoW v2
2023 Q4
General:
- Ledger Support
- NFT upgrade (new protocols)
- DEX Reputation Index (“karma system”)
- Komodo Burn Program (DEX protocol update)
- Browser Wallet Extension
- IPFS account backup
- AtomicDEX Web Beta (Multi-Platform Komodo Wallet)
R&D:
- Komodo network unification
- New peer discovery protocol for enhanced decentralization
- DEX infrastructure provider incentive
- AI trading engine
Tokenomics
The platform’s native currency is KMD, which can be used to construct DApps, pay transaction fees, and cast votes for Notary Nodes (dedicated servers). KMD, the community currency for the Komodo ecosystem, is used for scalable, fast, cheap, and secure transactions. The best cryptocurrency exchanges for trading KMD are currently listed as Binance, SuperEx, KuCoin, Huobi, and XT.COM. In addition, at the time of writing, the KMD token is trading at $0.3744, according to CoinMarketCap data.
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