Komodo is a decentralized platform that includes a fast cryptocurrency, focusing on the privacy and scalability of a multi-functional platform, from a decentralized platform to smart contracts for various purposes.

Komodo, as we are used to seeing it today, was originally completely different. First, in 2014, one of the creators, working under the name JL 777, developed a crypto project called SuperNet, which was created based on NXT and BitcoinDark. As a matter of fact, BitcoinDark is also a development of JL 777.

About Komodo project

The goal of the Komodo project is to create an ecosystem with which the development of the cryptosphere will take place, based on decentralization with a high demand for privacy, as was conceived by cryptocurrency developers back in the days when Bitcoin was created.

Numerous creators with similar intentions have joined SuperNet, they are also often called cryptanarchists. In 2015, the developers decided to fully formalize all their plans to create a blockchain platform; the well-known blockchain called Komodo became the implementation of their plans.

Later, in 2016, from October to November, the KMD ICO was held, where it was possible to collect about two million US dollars. At the same time, the SuperNet project did not close and remained a full-fledged component of Komodo. Despite the fact that the site was discontinued, a token called SuperNet Unity is active to this day, traded on the Komodo exchange.

It took a lot of time since the ICO, and Komodo developers managed to implement a fairly large number of ideas and plans.

Komodo features

Komodo is primarily a business model. If you think about its essence, it is worth noting that this is a kind of privacy coin, which is on a par with fairly well-known digital assets. The Komodo cryptocurrency uses a private transaction verification technology, in which no one can get any data about the person conducting it.

It was decided to add a new development to the KMD protocol, which allows participants to choose the level of confidentiality at their discretion. Simply put, each user can carry out not only a public, but also a private transaction using the protocol located directly in the users electronic wallet itself. Thus, the project not only guarantees the availability of the possibility of maintaining confidentiality, but also grants the right to carry out its transaction.

Among other things, Komodo has significant scalability and, accordingly, contains high throughput. The speed of transactions with transactions is impressive, about 45 thousand in one second, which undoubtedly confirms that this currency is the fastest. The presence of this high-speed mode, combined with the implementation of a private transaction, makes Komodo an attractive means of payment for the crypto community. This is not the whole list of advantages of this cryptocurrency.

How is Komodo created?

The Komodo development team has implemented innovations that allow the project to be absolutely unique and interesting. Lets consider what are the main points of Komodo technology, in addition to those that have already been voiced:

Кriptocondition - technology allows executing smart contracts on the blockchain, as in Ethereum. Many will say that already many projects allow the execution of smart contracts, so there is nothing special here. However, this is a delusion. The bottom line is that the blockchain is built according to the UTHO model, in fact, like Bitcoin. Many people consider this model a bit old, but it has its own advantages and provides high safety. In fact, according to this model, no one implements smart contracts, and Komodo is the first project that managed to do this. So this solution is considered not only innovative, but also unique. Using this smart contract technology, it is possible to create not only tokens, but also decentralized applications. Currently, smart contracts are in test mode by the developers themselves, today there are plans to introduce 4 more smart contracts. The first is the creation of blockchains, that is, every network that arrives or is created will become scalable and secure. The second one is a coin collection with various settings. The third type means rewards to those who have coins that are temporarily blocked when smart contracts are applied. The last, fourth type of contract is under development, invented for dice and is in great demand. According to the smart contract, the algorithm implies transparency and also guarantees the fairness of the game. Of course, this is still only the initial stage of development, in the future, not only creators, but also third-party users will be able to develop decentralized applications that are compatible with the Bitcoin protocol, which is fundamental for many altcoins.
Decentralization of exchange. It is based on blockchain chain exchange, which allows exchanges between coins and coin tokens operating on different protocols.
Decentralization of the ICO, that is, the KMD platform allows for the usual placement of crypto coins with a full set of tools (privacy technology, multi-currency crypto wallet, integration capabilities, etc.). Simply put, the platform includes a complete package, from token creation to ready-made Komodo technology, full and open public listing. A sample blockchain project called Utrum has already been presented. At the center of the idea is the KMD token, which is also a coin, and is also used to power the entire network and the general functionality of Komodo. If you have KMD in your wallet, starting from 10 coins, then every month you can receive additional rewards in the form of a 5% annual rate, which is nothing but nice, especially when you consider that the main goal of depositors is long-term investment.

Is Komodo endless?

KMD technology is based on the creation of decentralized communities, where all tools, including the Komodo token, are built with maximum privacy protection. The development team assures that all users have the right to remain confidential and do not plan to ever demand member data. The fundamental position of developers, in addition to creating a personal ecosystem, is friendly interaction with other blockchain projects.

Strengths of Komodo

KMD mining is based on the principle of proof of work, but with the introduction of a new protocol, which means urgent proof. In general, the scheme does not change, it is standard, mining is carried out using special equipment that is launched using video cards, but the final consensus is possible only when conducting checks using neutral nodes, of which there are only 64 around the world, their choice is made by voting and using records of transactions in the Bitcoin blockchain. This type of scheme is reliable protection against various attacks and attacks, where changing the transaction history is impossible due to the presence of a certified copy, which can be easily verified using any node.

As already mentioned, Komodo is a private cryptocurrency, and this principle also affects the development team. Most contributors and developers prefer to stay in the shadows, using pseudonyms instead of real names and pictures instead of personal photos on their avatars, although many have not even uploaded pictures. The head of the group is a confidential developer, about whom there is practically no information. Despite this, the team managed to inspire confidence in themselves by the fact that the creators have a good reputation both among other developers and among the crypto community.

After a long journey, a group of developers, where there were mainly specialists under pseudonyms, nevertheless included many famous personalities in their team, together they are expanding the project, although publicity from the developers is not required here, since the group respects the right to remain confidential.

Consider the public people included in the KMD development team:

Satinder Grewal - he is a famous person and has his own personal YouTube channel. In addition, Satinder not only became the creator of Komodo, but also participates in the implementation of the KMD project on social networks and records video instructions to help with the Komodo project. He speaks very well and accurately about this cryptocurrency and the crypto world in general, showing himself to be an active person - a crypto activist. At one time, he was the head of a personal Indian company, but ultimately dedicated his life to the development of Komodo.
Ben Fairbank - joined the Komodo development team a little later, now he is managing director. It is he who is involved in the public development of the project, he can often be seen in various interview projects and at presentation screenings. The owner of 12 years of experience in the position of both general and chief director succeeds in successfully promoting the project. In addition, Ben has the skills to work with community organizations, so his knowledge will be very useful to the Komodo team.

Komodo in TOP currencies

The value of the Komodo coin today is 54 cents. Its capitalization is at the level of 61 million, the size of daily trading fluctuates within 3 million. There are 109 million crypto coins in circulation, and their total amount will be mined in the amount of 200 million.

The KMD cryptocoin is currently in a downtrend, however, like the entire cryptocurrency market. It often happened that it was the Komodo cryptocurrency that managed to occupy the top positions in value in 24 hours, even when the crypto market had a red zone, so it is possible that KMD will decide to repeat its shot.

We can safely say that the Komodo project is undoubtedly promising; it has not yet been fully disclosed and appreciated. Many people are still convinced that KMD is just a private coin. But, as you already understood, the Komodo platform contains a number of implemented unique functions, there is much still ahead of it, there is something to bring to perfection, and this naturally implies huge potential.

The Komodo team has a focused look at the development of cryptocurrency and interaction with various platforms to implement many of the developers ideas. You can cling for a long time to the fact that the main developers of the project prefer to remain confidential, but if you remember the history of the emergence of the idea of a cryptocurrency, this just reflects its essence, where decentralization and confidentiality are primarily important for technology. And there is a difference between being a private team of creators and posing as others. So avatars with penguins are not an indicator yet.

If you study the roadmap of the KMD project and draw a parallel with what is already there, you can observe that the KMD team has really done a lot and put a lot of work, which is unfairly too rarely discussed in the cryptosphere. As part of the roadmap, a mobile version of the application will also be made and the implementation of various instruments on the exchange will be completed. This version of the roadmap is only approximate, since the development team strives to keep up with current trends and will develop everything necessary to attract public attention and increase the demand for various proprietary technologies.

Of course, there is still a lot to be done (for example, a cryptocurrency exchange and an ICO), but the team still has a lot to come.