Komodo is a cryptocurrency project expecting to give more secrecy and security than original cryptocurrencies like Bitcoin. Komodo has also established such services as BarterDex (a decentralized exchange) and a cryptocurrency anonymizer called Jumbrl. With every one of these features, Komodo has become more of an ecosystem and a development platform than just a cryptocurrency with private transactions.
The Komodo Platform depends on an innovation called Zero-knowledge proof. ZKP is a method that permits a prover to verify the fact of having some information without uncovering anything more than the fact that he does has it. This innovation allows KMD transactions to be 100% private. To improve security, Komodo uses a Delayed proof-of-work consensus protocol which is similar to the standard proof-of-work but adds a authorization mechanism that ensures the integrity of a new block.
The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed proof-of-work (dPoW) protocol. The Komodo cryptocurrency is likewise the official currency for the SuperNET ecosystem. Understanding the Komodo stage, there are 3 fundamental things to know about:
Zcash: This is an open cryptocurrency project that uses the zk-SNARK protocol.
Delayed Proof of Work (dPOW): This is another protocol created by Komodo engineers.
SuperNET: SuperNET is a decentralized organization that is developing open-source and decentralized tools for the cryptocurrency market.
Komodo platform also provides modularity by allowing different projects to make their own independent blockchain that is tied to Komodo. Tied to Komodo doesn’t mean that they are limited to Komodo’s blockchain and such blockchain are called peerchains in this ecosystem.
These blockchains can inherit or not inherit any future upgrades as per their wish and still remain tied to Komodo platform.
Some of the key team members are;
Tony Lysakov - Support & QA Team Manager
Kadan Stadelmann - Chief Technology Officer
Sergey Boyko - AtomicDEX API Developer
Yurii Khiznichenko - Frontend Developer / Flutter Developer
Artem Pikulin - Senior Software Developer (Solidity/C/C++)
Monaize is an online banking platform that understands where the banking industry is heading. Therefore they are positioning themselves for the coming transition period. They will use Komodo as their gateway to blockchain and bridge the two worlds together.
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