“Komodo is a cryptocurrency that is trying to achieve a lot of things, but if we had to define its main characteristic we would say it fits the privacy coins category, even if it’s much more than that….”
Coin Name: Komodo
Birth of project: 2016
Project Status: Running
Circulating Supply: 103,501,141 KMD
Validation: Delayed Proof-of-Work
Official website: https://komodoplatform.com/en
Official Wallet: https://komodoplatform.com/en/wallets
Introduction to Komodo (KMD)
Komodo is a cryptocurrency that is trying to achieve a lot of things, but if we had to define its main characteristic we would say it fits the privacy coins category, even if it’s much more than that.
The privacy in Komodo is achieved through a delayed proof of work, which is reality is nothing more than a second layer of security that is added to the blockchain, adding to already existing security from the miners in the first layer.
Apart from this security and privacy side, Komodo is also a platform, and as such it’s possible to have ICOs in it. There is a twist here though, as the assets launched on the Komodo platform are independent, meaning they have an independent blockchain from the Komodo parent chain.
Furthermore, in terms of programming, it’s easy for any developer to work with Komodo, as any programming language can be worked on the platform, something that doesn’t happen with Ethereum. Any project built on Komodo will, therefore, enjoy the features of the platform: privacy, decentralized exchanging and funding, and micropayment channels, among others.
Precisely in this sense, Komodo has BarterDEX, its own decentralized exchange. Another plus this crypto has is the possibility of earning 5% passive income, just by holding the KMD tokens in the Agama wallet.
Peerchains means nothing right? It’s the name the Komodo team gave to their scalability solution. This means that Komodo has the capacity to connect different blockchains and perform atomic swaps. I’d say this is the strongest advantage Komodo has, as atomic swaps are the future of mainstream exchanging, in opposition to centralized exchanges.
Sounds perfect so far, but Komodo has some down sides as well, namely their marketing. Even if some might say this doesn’t affect the product, it does affect its adoption, as one can’t use what we don’t know.
This becomes more important considering that there are other privacy coins (big names like Monero, Zcash or even Verge) out there fighting for that market share, and if KMD cannot explain what they do, they will be left behind. At the same time, also BarterDEX has strong competition, namely from Etherdelta, Bitshares, WAVES, and many others.
No question that Komodo has the potential to be one of the top coins, and their currently relatively low market cap can really make it move forward, if the market does get what Komodo is all about. They have revolutionary and superior technology, they have the ideas, and the fact that they hired a marketing team says much about their willingness to solve the existing issues.
This is a brief introduction to Komodo, but if you want to know more about the coin, what people are saying about it, technical details, jump right in any of the links we present below. They are well worth reading before investing!
Feb 19, 2018: $5.01
Jan 19, 2018: $6.31
Dec 19, 2017: $5.82
Nov 19, 2017: $2.31
Another coin? Shocking! He could be on to something though, if it has it’s own blockchain. It could have the same rank as bitcoin or ethereum. It also seems quite flexible,especially that people with diffrent languages can create apps on this platform.I don’t really like the name though, I think they should change it, it does not reflect this cryptos potential.
It’s true what you pointed out, the name which it bears – “Komodo” sounds a little bit odd but I really don’t think it would be a much problem if it’s well known to the general public. Most times people aren’t interested in the name of what they take part in but the benefits of using that. So therefore, if Komodo offers something to what other well known cryptocurrency offers, the name wouldn’t mean a lot.
lol Komodo is a strange name indeed. This can actually go both ways, a coin that wants to do too much can get lost in the way, I do prefer a coin that has one simple focus.
As for having it’s own blockchain, most coins start as ERC20 tokens (Ethereum tokens) and later on release their own mainframe, like happened recently with WTC and will happen soon with TRX and EOS.
I’m not surprised seeing lots of coins everyday and seeing that Komodo is still very new in business of having being introduced to the fold just in 2016 shows how new the project is. The only problem I see for Komodo is that as it’s written in the article that most people aren’t aware of the existence of the coin and there is no way people are going to make use of what they don’t know. Komodo needs an aggressive marketing strategy to get its existence out there for the public to patronize it.
That is why a good name and good marketing is, many times, more important as the product itself. One needs to know something exists in order to buy it or use it. Just recently Antshares become Neo and Raiblocks become Nano just to sound better.