15 May 2018 Jane Whitmoore
Komodo – worth the hype?
Komodo Coin (KMD) is the official currency for the SuperNET system and was forked from Zcash. SuperNET is a network where people can manage their assets remotely. For that purpose, a wallet was created to support the exchange of currencies without a necessary swap.
The Komodo platform controls digital and pegged assets on a blockchain of its choosing. The function of KMD is to maintain the infrastructure of the platform.
The cryptocurrency takes many of the features of Zcash focusing on security and privacy. This includes the Zero-Knowledge-Proof and Delayed Proof-of-Work.
The Zero-Knowledge-Proof is a technology which conceals all personal information – private addresses and the amount of transacted money. The feature is optional, and transactions can also be made publicly.
The Delayed Proof-of- Work is a consensus protocol with a double layer of protection utilizing 64 pre-selected notary nodes to minimize the risk of potential hackers.
One of the technologies Komodo has developed is BarterDEX. It is a decentralized exchange system powered by atomic swaps. What stands out is the possibility to exchange currencies without BTC or ETH serving as an intermediate. BarterDEX has more than 50,000 successful atomic swaps.
The team behind Komodo prefers to stay anonymous. The lead developer is known as JL777.
Komodo’s future is uncertain, but given the development of many tools for the cryptocurrency industry like dICOs and BarterDEX, the platform has proven itself and suggests it will be here for the long run.Komodo KMD