Written by Marlon

On August 14, 2020

Komodo (KMD) Profile

komodo
Komodo (KMD)
Rank: 131
$ 0.612629
Price (BTC)
Ƀ0.00003200
Marketcap
$ 75.30 M
Volume
$ 34.72 M
24h Change
21.36%
Total Supply
200.00 M KMD

Komodo is an open-source cryptocurrency that launched in 2016 and was forked from Zcash.

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. 

 

The notary nodes are responsible for processing transactions and 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 that KMD is community-driven; users have the ability to participate in the governance process of the Komodo Platform. For KMD held on a non-custodial wallet, users are rewarded with VOTE tokens in a 1:1 ratio.

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