Komodo Quick overview

Introduction

Komodo platform is one of those decentralized crypto projects which are focused on security and privacy. It has been developed on its own stable eco-system. Komodo is a hard fork of Zcash and still developing more features.

Komodo uses a different protocol dPoW (delayed Power of Work) protocol consensus which ignores any or all transactions which part of recent backup are not.

Influencers

Following are the backbone of project:

• James “JL777” Lee – Lead Developer (Founder) https://twitter.com/jl777news
• Kadan J. Stadelmann – Chief Technology Officer https://twitter.com/0xca333
• Ben Fairbank – General Manager https://www.linkedin.com/in/ben-fairbank-7b256432/
• Steven Lee – Chief Marketing Officer https://www.linkedin.com/in/stevelee82/

Technology

Komodo has promised to provide security to any third party platform to empower and enhance their features along with peer-to-peer services. Komodo uses a number of tags to present their platform as being unique:

• Private: It uses Zero-Knowledge Proofs which eliminates the need for user identity.
• Security: dPoW notarize blocks which are not part of the backup and ultimately lower the hacking attack at a significant level.
• Stable: Project was a fork of Zcash; a project developed by bitcoin

Advantages

• Annual revenue of 5% for each komodo holder
• Delayed Proof of Work protocol for anonymity
• Promises to be secure and faster
• Forked from already stable platform Zcash
• Fast and cost-free micropayments
• Private transactions
• Easy Decentralized Exchange for trading cryptocurrencies
• Atomic Swaps process enabling transactions between different cryptocurrencies without third party
• Pegged Asset Exchange (PAX) for exchanging fiat currencies
• Independent Wallet that allows rebranding to a new coin's native wallet
• Multilingual smart contracts
• Fast and simple mining
• Strong community

Disadvantages

• Highly competitive projects are already in line
• Unknown official team members
• Inactive marketing team; community remains
• Paid service
• Anonymous developer - uses nickname jl777
• Weak marketing

Whitepaper

A recent version of the whitepaper was published in June which is more in detail and fine-tuned. Part of the papers consists of how the decentralized exchange Bar-Terdex will work and what fee will be charged against BarterDex protocol.

Real examples of use

There is no direct real-life use case available but Komodo coin KMD can be used as payment for different services i.e. security or otherwise can be used to earn more 5% APR. But for earning APR user needs to have at least 10KMD in the wallet.

Technical Analysis

While discussing komodo we can never miss SuperNET. SuperNET is an ecosystem which is aimed to give service to other blockchain projects. In 2014 the ecosystem has already successfully completed its ICO and so far, has built a number of the products i.e. SuperNET lite client, Multi Gateway. SuperNET introduces Komodo as its official currency. So, Komodo is an important part to complete the whole picture of SuperNET ecosystem.

Fundamental Analysis

Komodo is familiarized because of Zcash but has already attracted a significant number of users. It has declared a fixed supply of KMB which of 200 million coins with 100 million pre-mined, 90 million for investors and remaining 10 for development purposes. In comparison to other peer-to-peer cryptocurrencies, Komodo is faster and more reliable.

Security

Komodo is rated as one of the most reliable crypto projects by the Chinese government because of its security checks. Komodo’s security mechanism works on dPoW which notarize the nodes to complete technical work.

Investors

Komodo hasn’t officially listed any big in their investors' list but more of users who have invested to get services and currently has a market cap of $ 176.60M and ROI of 327 %.