What is Komodo

In recent years, cryptocurrencies got popularity, so investors started to interest in cryptocurrency. However, investors who are new in this sector, search for alternative sub-coins to invest such as Komodo. Komodo is a clone of Z-cash and is designed for people who do not want others to follow their money transfer information. Komodo uses a protocol named as Komodo New, and it provides safety and remains anonymous for all trades.

 

 

What is Komodo (KMD)?

Komodo Features
Komodo Features

Komodo focuses on to provide block solutions from end to end for at every level and anyone industry developers. It has a natural structure to provide configurable blockade solutions and secure distribution.

Komodo has the vision to create an environment for partners and developers to facilitate passage to blockchain technology. It has a $450 million market cap, and there are 103 million KMD on the markets by February 2018.

How Komodo Works?

There are a few primary benefits to use Komodo from end to end blockchain solution. First of all, the developers will build a completely independent block that is connected as a whole to the Komodo ecosystem.  However, the independent chains will not be limited to what Komodo can or cannot do. This modular approach to blockchain solutions offers many opportunities. When it comes to applying the properties of Komodo ecosystem, we can say that it is self-created flexible block chains.

Also, security is a significant factor for the blockchain technology.  Komodo gives priority to security and privacy first. The chain uses a delayed employment proofing algorithm to increase overall safety. This algorithm allows the creation of backups of blockchain data. For any independent block created using this platform, the fixation and redundancy of the data have great importance.

Finally, Komodo describes itself as a simple and investable blockchain platform. They know that developers want to work with their applications without worrying other problematical points.

Features of Komodo

what is kmd
what is kmd

Komodo has a stable structure to slow down sudden falls. Because of this feature, while other altcoins were affected by fluctuations, Komodo was not affected so much.

It also has a stable structure concerning technology. While the Komodo coin’s inflation rate is %1,5, the Bitcoin inflation rate is 4%. These numbers prove that Komodo is an ideal investment way. Bitcoin, Ethereum, or Litecoin are the cryptocurrencies that are appropriate for big-scale investors, unlike Komodo.

With the difference of other coins, Komodo gives an award for every Komodo block 3 coins. Every year, 1.57 million KMD will be launched, and it is an ideal number for cryptocurrency mining.

Trustworthy of Komodo

Komodo was established over security and privacy to provide users a comfortable process. One of the Komodo’s different features is delayed operation proof. When this process started, the data backed up in blockchain, and it is proved and took under privacy protection

If you don’t want to leave Bitcoin chain but use other alternatives, you can use Komodo’s new features. You can attend the blockchain system of Komodo platform with smooth, flexible and safe surface and you can create your independent chain for services you want to use.

Need to Know about Komodo

Three things need to be known in order to understand this platform better. The first one is Z-cash, an open-source encryption project that uses sk-SNARK technology, a technology that hides information about the sender, receiver, and quantity. This technology is used by Komodo to perform anonymous operations. Second, the delayed business proof is a technology developed by Komodo and offers extra security. It creates security by giving invariance to the operations. The third one is SuperNet, a project aimed at building services on the NXT platform and facilitating cooperation with other block chains.

How can you get Komodo (KMD)?

Komodo Coin
Komodo Coin

In some countries, there is no purchase or sale of altcoins. For this reason, be a member of stock exchanges and get Bitcoin and trade it with Komodo. Altcoin stocks can be used to buy Komodo coin. Bittrex, UPbit, HitBTC or Binance altcoin stock markets may help you to purchase Komodo. You must become a member of one of these stock markets and send your fund to Bitcoin. Once the submitted Bitcoins are approved, conversion is done by selecting KMD / BTC option on the stock market.

Komodo (KMD) Wallet

There are four kinds of wallets designed for Komodo. Ledger Nano S; the private keys never leave the device, so the KMDs can be safely stored. The disadvantage is that the users cannot get the bonus because they are the members of Komodo. Agama Wallet; The official desktop wallet developed by Komodo. Multiple currencies also be supported by Agama. There is only a beta version, and it is still being developed. Komodo developers again develop Komodo Swing Wallet and it is the most basic wallet. It works on Windows, Linux and Mac operating systems.

Is the Komodo use PoS?

Komodo is a cryptocurrency that earns you money compared to the amount of coin held in your wallet. KMDs are taken from the stock market, more than 2 hours after the blockchain is sent to the unfinished wallet, and extra money is sent to your wallet. An open wallet is not needed to get a bonus in Komodo coin.

Summary

The Komodo Platform is a large-scale project that includes decentralized ICOs, a unique consensus algorithm, and decentralization. It uses a hybrid system and uses both PoW and PoS proof types.

The team is still working on improving Komodo and its ecosystem. If they can accomplish everything they have planned, it will be possible for Komodo to become a vital cryptocurrency soon.

 

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About the author

I am graduated from the faculty of communication. I have worked for major companies in the communication field, and acquire more than 12+ years of experience. I like to read empowering books, traveling and researching useful stuff on the internet. For a few years now, I have cultivated and developed a passion in the cryptocurrency world. I have decided to dedicate my time to create some posts on my blog about cryptocurrencies in general. Cryptocurrency World is growing fastly and will have longevity future however it has just born. I intend to improve myself on blockchain technology and share my knowledge.

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