We all have been observing that different cryptocurrency projects are developed for specific reasons. For instance, Bitcoin represents global currency, Ethereum is for smart contract and Decentralized Autonomous organizations, and Ripple is for faster transactions. In brief, there is no single platform which can provide all the above services, in a consistent manner where the users need not jump from one Crypto to another for different applications. In fact, most of the blockchain platforms do not support the functionality of atomic swaps which is most important and famous in the cryptoverse. However, there is one Blockchain platform, which has consistently been developing itself, in almost all the cryptocurrencies domains, Komodo.
The Komodo platform is one such Blockchain platform which is a means to launch the Initial Coin Offerings in a decentralized manner, a decentralized exchange, a cryptocurrency coins with 5% of interest model, etc. The Komodo platform is the first Blockchain platform to support the launch of an ICO in a decentralized manner. The Komodo platform dominates over the Atomic Swap technology too, where almost 95% of the cryptocurrency’s Atomic Swaps are handled by it. It even addresses the scalability issues of the cryptoverse, where the Komodo platform reached 14,000 transactions per second during the initial days of launching itself. It is to be noted down that one transaction accounts for 100 payments.
The Komodo platform even supports an improvised version of the Proof of Work consensus mechanism which happens to be Delayed Proof of Work. The Komodo platforms are the pioneers in collaborating with major blockchain platforms Bitcoin and Ethereum to through their Atomic swap Technology. It is one of the most versatile forms of blockchain platform, as it can be utilized for different purposes by the developers or users respectively.
The Komodo blockchain platform sets security and privacy with the utmost priority. It is a direct descendant of ZCash and an indirect one of Bitcoin. On April 17, 2018, the world’s first decentralized ICO took place on the Komodo platform, which was for BlocNation blockchain. This feature is highly in demand, but the developers of the Komodo platform are inviting only one decentralized ICO at a time. As the Blockchain platform, covers so many aspects, it is highly challenging for the investors to decipher it.
BarterDEX is Komodo platform’s exclusive decentralized exchange. The exchange supports two functionalities, it can be utilized for trading purposes and also acts as a platform for the development of cryptocurrencies. The Crypto enthusiast can explore BarterDEX exchange and can perform the trading operations along with the development of another blockchain platforms. The DEX has lower transaction fees of 0.15% along with faster transactional confirmation. Basically, the Komodo platform works rigorously in order to lower the barrier of the Blockchain ecosystem.
The Komodo platform even supports an exclusive multi-coin wallet named, Agama Wallet. The users can use the wallet to store their KMD coins, where a 5% interest is provided by them, just to hold the coins. This 5% passive income model was incorporated within the Agama wallet to force people to avoid storing their tokens on the exchange, which would indirectly increase scarcity and, hence, the value of the coin. This 5% model was initiated, to nullify the number of tokens being mined and indirectly to prevent losses to the long-term holders of the coin.
The Komodo coins power the entire ecosystem, where 200 million coins, marks the total supply of the coins. Keeping the current mining rates in mind, according to experts, it has been estimated that the total supply would be reached until 2031. On December 26th, 2017, the Komodo platform reached its all-time high of about $12.54. Currently, the prices are hovering around $1.046. Being the jack of all the subsystems of cryptocurrencies, the prices are expected to rise substantially.
Very similar to methodologies incorporated by the Zcash blockchain, even the Komodo platform incorporates privacy, through the “zero-knowledge proof”. It enables the customers to get absolutely anonymous or transparent based on the requirement. There is a lot more to be discussed with respect to the Komodo platform and the discussion might never end. In a nutshell, the complex ecosystem is creating benchmarks with its roadmaps.