What is Komodo(KMD) Crypto Currency?

Komodo Coins

Komodo(KMD) aims to be anonymous crypto currency protected by ZCash's zero knowledge privacy is being considered as BTCD(BitcoinDark) version 2.0.

Bitcoin Dark, which had a fundamental function in SuperNET is being replaced by Komodo as told by the Developer.

KMD is currently in ICO phase and interested participants can buy Komodo using Bitcoin (BTC) until the ICO ends or swap using Bitcoin Dark (BTCD) with in a years time.

What is Komodo trying to achieve?

First goal is to achieve Zeroknowledge transactions. Komodo is working on the same execution as Zcash to achieve the first aim. When it's executed, it'd be possible to release anonymous trades (unknown sender, receiver, and quantity) on the blockchain. It's using zcash’s zk-SNARK as the method by which miners assess for double-spending. Like Zcash, Komodo offers anonymous trades.

The second goal is created with assistance from a fresh consensus process called delayed proof of work(dPoW). Create a consensus mechanism that derives its security from the Bitcoin blockchain's pentahash computational power.

What is Delayed Verification of Work (dPoW)

Komodo uses a fresh consensus mechanism called Delayed Verification of Work (dPoW). Unlike other cryptocurrency consensus mechanics, dPoW needs a standalone blockchain which is fixed in its own right (using an unique proof-of-work or proof-of-position consensus mechanics), and then a dPoW blockchain that's subsequently procured via the PoW blockchain (Bitcoin).

It's presumed the security properties of the consensus mechanics of the blockchain embracing dPoW are not significantly stronger than Bitcoin’s PoW. But since the new blockchain is finally being procured via the hash power of Bitcoin, the first consensus mechanics can be strong. Additionally, there could be the various consensus apparatus like PoW, PoS, hybrid schemes, etc.

Komodo is using a system much the same to Bitshares in regards to determining who should function as nodes that are notary. Instead of Bitshares’ 101 delegates, 64 Notary Nodes are proposed by Komodo. The stakeholders in a voting mechanism not elect the Notary nodes. Although this works good in practice, in theory we've seen the typical troubles with voter apathy and a lot of tokens being held by exchanges.

How to Buy Komodo ICO Shares -

You can buy ICO shares from ico.komodoplatform.com until 20th of November 2016 and purchasing KMD coins during this period entitles with an additional bonus that varies from week to week.

Once the ICO ends, its for the BTCD holders can swap their holdings if they want or continue with BTCD as the developer has stated his support for an year. More details of the swap will be published once the initial ICO gets ended.

You may get more details on komodo at komodoplatform.com


Assetchains that allow anyone to create their own asset with its own blockchain

Multiwallets where those assets can be kept, including many coins like Bitcoin and Komodo

Atomic swaps, to ensure individuals can trade their coins without counterparty dangers in the multiwallet

Pegged assets - which are a sort of cost-secure advantages created - by attaching themselves to the value of secure currencies like EUR or USD these assets solve the problem of price volatility.

Pictorial Representation

Below is a picture details about dPoW implementation. The main difference is two blockchains 1. Komodo(dPoW) Blockchain 2. Bitcoin Blockchain and also there are two types of nodes respectively called as 1) Notary Nodes 2)Normal Nodes and point 1, the notary nodes are elected by the representatives of the commmunity but the normal nodes can be run by anyone.

Komodo dPoW