Komodo
Name
Komodo
Summary
Komodo is a smart chain platform developed using end-to-end blockchain development from a custom smart chain to an open API.
-It was founded in 2017 by James Lee
-Komodo aims at being the new benchmark for effective cryptocurrency security and anonymity
Rating
Symbol
KMD
Overview
Komodo is an open, composable multi-chain platform. Komodo is backed by Zcash Zero Knowledge proof which enables users to make 100% untapped transactions that cannot be compromised since they are secured by Bitcoin‘s Peta hash Proof of Work, due to Komodo’s new delayed Proof of Work consensus mechanism.
Komodo aims to enable economic and business friendly blockchain solutions that are efficient as well as effectively secure, scalable, interoperable, and adaptable.
Komodo's current technology suite, the Antara framework, offers tools for end-to-end blockchain development, including a customizable, application-specific Smart Chain complete with a library of built-in modules and a open API for developing blockchain-based applications
Historical Price Movement (in INR)
Technology
Komodo's Iguana Core technology, a multi-purpose code base that underlies the Komodo protocol, spawned the security model behind dPoW. Iguana Core and dPoW rely on Notary Nodes chosen by the Komodo network users to archive "true" copies of the network's transaction history and designate the appropriate chain for miners to direct their resources. Notary nodes occasionally receive easy-mining privileges on a lottery basis where the network's difficulty significantly decreases for one of the notary nodes. Every 2000 blocks, every notary node can mine on easy-level difficulty in a Komodo mining "free-for-all".
Komodo supports two separate but parallel chains: an asset chain and a main chain (a quasi-layer-two feature). Notary nodes maintain the main chain, but the asset chain can process significantly more transactions in a given time frame than the main chain. Asset developers shoulder the responsibility of bootstrapping a network of nodes to maintain the security of assets issued on the Komodo asset chain though.
BarterDEX is the Komodo blockchain's native decentralized exchange (DEX) that functions like any cryptocurrency exchange with order matching, liquidity provision, and transaction clearing. Jumblr is a transaction data anonymizing feature that serves as Komodo's primary tool for targeting on-chain privacy. As a Zcash fork, Komodo retained some of its parent project's privacy features. But Jumblr relies on BarterDEX, KMD, and Zcash's parameters to attempt the level of security desired by the Komodo team.
Komodo employs a delayed proof-of-work (dPoW) consensus mechanism that it believes offers a higher level of network security than Bitcoin's PoW model. Every chain, even forks, are more connected under dPoW than regular PoW which Komodo prefers.
Use of Native tokens in the ecosystem: Komodo token is utilized to develop customized Dapps. It is also used as a reward from (dPoW) and PoW
Founders & Project
10%
Investors
20%
Pre-Mined Airdrops
70%
Volume (1st May 2022)
$1,321,901
Total Supply
131,306,332 KMD
Circulating supply
131,306,331.87 KMD
Crowd Sales
Nuevalue capital has invested in komodo platforms, Funding amount remains undisclosed.
Funding
NA
Country
UK
Name of Organization
Komodo Platforms Ltd
Year Incorporated
2017
Registered Address
Companies House Default Address, Edinburgh, EH3 1FD, UK
Dispute Resolution and Governing Law
UK
Country Risk Assessment
A1
Founding Team
Name | Designation | Education | Experience |
Kadan Stadelmann | CTO | Technische Universität WienTechnical Informatics and Scientific ComputingUniversity of ViennaInformationstechnologieFernUniversität in HagenComputer und Informations systemsicherheit/Informationssicherung)WU (Vienna University of Economics and Business)Wirtschaftsinformatik | 14Yrs |
James Lee | Founder & Core developer | - | - |
Tony L. | COO | Tomsk Polytechnic UniversityBachelor's degree, Nuclear Physics | 6.5Yrs |