The cryptocurrency and blockchain market has been booming over the last year and a half in a way we have never seen before. As a result, several new blockchain companies and currencies have been released in recent months. However, with so many options it can be tough to know which coins or tokens are worth investing in, and which are not.
A coin that has been getting a lot of attention recently, and is now nearing the top 40 cryptocurrencies, in terms of market capitalization, is Komodo (KMD). But what is Komodo and why should people be excited about it? This article will get in-depth about what Komodo is, the various functions of the ecosystem and platform, and so much more.
What is Komodo?
The Komodo platform is all about using their open-source cryptocurrency to complete various different types and private, anonymous or transparent transactions on the blockchain. Freedom is huge to them and they believe crypto users should be empowered with freedom, and not be stuck due to centralization.
Komodo is a whole ecosystem and has a variety of different uses and functions, and is one of the most versatile blockchain offerings currently on the market today. They aim to serve not only cryptocurrencies investors but also the blockchain entrepreneur/developer who is looking to create their own blockchain. Komodo also offers end-to-end solutions for new blockchain currencies, companies or platforms. We will get more detailed about the various functions and features later in the article.
How Did Komodo Begin?
The origin story for Komodo is an interesting one, as it is a fork of Zcash, which is a fork of Bitcoin, Zcash forked Bitcoin and developed a new technology for privacy. Then, Komodo forked off of Zcash and made their own developments and changes. Here is a very detailed look at the origin story of Komodo.
What Are The Features and Benefits of Komodo?
As mentioned before, there are many features, functions and benefits of blockchain technology. This section will take a closer look at them so you can understand all that Komodo is hoping to do and be as a currency, and as a platform.
Offer a Variety of Transactions
Transactions are a big part of any blockchain technology and Komodo is no different. Whatever sorts of transactions you need, whether completely private or completely transparent, can be done within the ecosystem. It is this versatility that draws people to Komodo as it can serve a wide range of transactional needs.
Be a One-Stop-Shop For Blockchain
With blockchain technology exploding, it only makes sense for new entrepreneurs to get involved. Well, with Komodo, they can do it all in one place. One of Komodo’s most impressive features is their end to end blockchain solutions.
They can not only help you create your own blockchain in minutes, but can also assist you throughout the process of configuration, and can even help you to launch your very own decentralized ICO.
Be As Secure a Platform as Possible
Security and privacy were two of the foundations of Komodo and they are still holding them in high regard. Komodo has a unique dPOW (delayed proof of work) which provides an extra layer of security that will backup data, which means that even the tiniest blockchain will have amazing security.
Create a Decentralized Exchange
When you want to purchase or trade some cryptocurrency in the modern day, you generally have to do it through a centralized exchange. However, Komodo is looking to change that model. They are hoping to essentially become a “decentralized exchange” in which people will be able to trade directly with another person, without a need for a middleman or other service. It relies on a service called “automatic swap” and Komodo are the industry leaders in the space.
The KMD Coin
The KMD Coin is used throughout the Komodo ecosystem and is one of the most versatile coins on the market. In addition to being an investment, the KMD coin has a lot of utility as well. It is the method of payment for the Komodo security services, is the fuel for the Smart Contracts and will ensure every coin on the Komodo exchange is private and secure.
Also, those who own at least 10 KMD in a wallet automatically generate interest at a rate of 5% APR, so investors are not only able to be part of the ecosystem with the KMD, but it can also help them to get a solid return on their original investment as well.
As you can see, there is a lot to know, understand and learn about Komodo, as it is incredibly versatile and they have very lofty goals for their ecosystem and coin. If you want to learn more about what Komodo has to offer and what they are trying to do, we recommend you check out their Whitepaper, which is full of details.
Another impressive thing about Komodo is their community. Having a community and participating in discussions is a very important part of any successful cryptocurrency. People are going to have questions and concerns and if there is nowhere to voice them, people might be unwilling to participate. Komodo maintains a Slack channel and has an active and large social media following as well. They (and their success) are a testament to how important having a community is to having a successful coin or platform.
While the cryptocurrency and platform for Komodo are highly impressive, so is the team behind it. The team has a ton of experience in the space and features experts and employees in various different industries such as security, technology, development, IT design, HR, social media and more. They truly are one of the most varied and diverse teams we have seen from a blockchain technology company.
However, one thing that separates them from most teams is that they operate under pseudonyms and very few of those involved have given out their real names. While some feel this is worrisome, the team does it because they believe in privacy protection, and privacy and security are very important foundations for their company.
In conclusion, Komodo (KMD) is definitely a coin and ecosystem to keep an eye out for in 2018 and beyond. While they do have some lofty goals and hopes, they believe they can pull it off. Only time will tell.