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An objective overview of Komodo Platform

The Komodo Platform provides full-scale, end-to-end blockchain solutions for developers of different industries and levels. It includes customized, configurable blockchain solutions which are an easy task to deploy.

The blockchain emerged as a ZCash blockchain fork, that was a Bitcoin fork. The Komodo ecosystem integrates zk-snark technology (zero knowledge) predicated on Zcash. It adds a comparatively rare consensus algorithm referred to as delayed proof work (dPoW).

Komodos goal would be to create a complete ecosystem comprising various partnerships.

How it operates

Komodo includes a blockchain with autonomous infrastructure, attained by method of parallel chains. These chains develop a separate Komodo blockchain copy. The dPoW consensus mechanism secures new parallel chains.

Developers on Komodo dont build on the blockchain itself. Rather, they create their very own autonomous blockchains. Its neither a sidechain nor a fork. The Komodo platform doesnt serve as a legacy platform to the brand new blockchain.

Each development project on Komodo can be an independent blockchain that’s from the network. In this manner, Komodo can’t ever limit any future development.

The core of the network is BarterDEX, Komodos decentralized exchange. The DEX may be the intersection between all of the blockchains. Its powered by atomic swaps, unlike other DEXs, designed to use proxy tokens.

Key features

Komodos most significant features are linked to security, privacy, scalability, adaptability, and interoperability.

Security

Komodos security sticks out by using the dPoW consensus mechanism and the Zcash zk-snark protocols for anonymity. The mechanism offers Bitcoin-level security to all or any projects and blockchains connected with Komodo. The dPoW consensus mechanism creates a backup of blockchain data.

Privacy

The zero-knowledge proof technology utilized by the Zcash blockchain allows full anonymity of every transaction on the blockchain. Many users appreciate anonymous transactions because they dont need to share information regarding the sender, recipient, and level of the transaction.

Simultaneously, the transaction is transparent, and miners can verify its validity. Data appears exactly like it could for a typical Bitcoin transaction.

Another important benefit of anonymous transactions is preserving fungibility, a simple currency requirement.

Adaptability

Among the best-known open-source projects, Komodo is well-recognized because of its features and innovations. Komodo-based projects include the opportunity to create custom solutions based on the different situations and needs.

Scalability

Komodo lets each project have a separate blockchain and infrastructure, unlike other enterprise solutions. Komodo network projects can scale anytime, and blockchains could be put into improve performance as needed.

Interoperability

Komodos so-called blockchain federation technology enables frictionless interoperability with federation blockchains. Atomic swaps may be used to connect to non-federation blockchains.

Extensive development activity

Komodo has been very active in pushing code to its base repository. It has tens of repositories, which are very dynamic. The ecosystem ranked 12th on Coincodecap with regards to overall coding activity.

Pros

Scores well on scalability, adaptability, and interoperability

Extensive development activity

High security and reliable privacy

Cons

The coin continues to be under development

Some problems with ledger synchronization

Thinking about subscribe with Komodo?

One reason is that security is top-notch. During writing, Komodo was finding your way through an external security review. They’ll be creating an architecture diagram and an SRS document, updating and refactoring dependencies, and doing an interior security code review so auditors can access the code.

Recently, Komodo optimized the blockchain node call amounts and added an infrastructure enhancement microservice. They’re along the way of integrating QuickNode blockchain nodes to their interfaces. They created a microservice layer in order to complete the integration.

Komodo offers convenience to its users by giving the option to get fiat price information in the API database. In this manner, traders can calculate fiat prices retroactively, if needed.

Another advantage may be the Komodo cryptocurrency (KMD) itself, which may be used to mediate transactions with tokens that dont have a primary pair on BarterDEX also to enable instant zero-confirmation exchanges on Komodo DEX.

The Komodo coin will pay for Komodos security protocol service, can be used for dICO crowdfunding on the platform, and powers UTXO-based smart contracts. When you have 10 KMD or even more, you can generate 5% rewards being an active user.

Why is it stick out?

Komodos dPoW consensus algorithm increases network security through the use of Bitcoins hash power. Bitcoin gets the highest hash power of most blockchain networks, making it practically impervious to hijacking.

Underneath line

Komodo includes a vast and extensive library and a trusted, solid team and community. They publish updates in real-time and offer transparent yearly and quarterly reviews. They’re an excellent selection of a blockchain solution for experienced developers.

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