We are very excited to announce that the latest addition to the innovative Metal Pay Marketplace is the Komodo Platform (KMD). Komodo became one of the more technically-solid projects on the market by leveraging the power of the Bitcoin blockchain.
In March of 2018, it was ranked #12 out of 200 projects by DPRating based on the popularity of their codebase, as well as the frequency and quality of their code commits. The Komodo Dragon is the largest lizard on the planet. Can Komodo Platform become one of the largest and most powerful blockchains on Earth?
What is Komodo Platform
The Komodo Platform allows anyone to launch a fully customized blockchain using the proprietary Antara Composer. This UI allows fully customized Smart Chains, as they are called, with upwards of 27 smart chain parameters and smart modules. Komodo is a fully secure next-generation blockchain that aims for high-throughput to be suitable for enterprise applications with high demands for performance and reliability.
Delayed proof-of-work, or dPoW, can also be used by smaller PoW blockchains through the Antara Framework. This offers protection for their networks from the dreaded 51% attack. Notary nodes on the Komodo Platform are responsible for analyzing the state of the network, which is hashed into a block on Komodo. This block is then hashed onto the original Bitcoin blockchain before it is once again hashed onto Komodo. This cross-chain notarization process ensures that disrupting the Komodo blockchain would first require breaking the immutable state of the Bitcoin blockchain proof-of-work consensus mechanism. In other words, good luck taking down Komodo.
Strength Through Numbers: Decentralization
The Komodo Platform is an example of why decentralization can be an advantage for many cryptocurrency projects. The notary nodes responsible for processing transactions are split evenly throughout four geographic regions around the world. Additionally, anyone can apply for notary node election, given that they meet minimum qualifications and have the appropriate hardware. This means is that KMD is community-driven; users have the ability to participate in the governance process for Komodo Platform. For KMD held on a non-custodial wallet, users are rewarded with VOTE tokens in a 1:1 ratio.
What is Komodo Platform used for?
Komodo Platform wants businesses and individuals to custom tailor blockchains to their particular use case. The Antara Framework provides all of the tools required out of the box with minimal experience required. Almost anyone can use the Antara Composer interface to launch their own blockchain within minutes. Not only have they made it extremely easy for someone without technical experience to do this, but they have made it extremely low-risk by leveraging the hashrate of the Bitcoin blockchain. Due to the unique consensus mechanism employed by Komodo Platform, every Smart Chain launched is secured by the hashrate of the Bitcoin blockchain.
We’ve barely scratched the surface for Komodo, which is why we’ll be posting more information about this cutting-edge project on our social media accounts this week. Additionally, you can check out the Komodo Platform team’s website to see how they explain their innovative design.
We hope you’re inspired to take a closer look at Komodo! Be on the lookout for more content about KMD in the Discover section of the Metal Pay app, as well as on our social media accounts: Twitter | Instagram | Facebook | Steemit
🤘 Your friends at Metal 🤘