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When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Komodo.
Komodo is a truly multi-faceted cryptography project, that had it’s ICO in late 2016. As of writing this article, the features include: a unique blockchain, a coin that pays interest, a decentralized exchange and an ICO platform. However, this is just a fraction of everything they have planned for the future. The blockchain is a fork of the ZCash, which in turn was forked from the Bitcoin protocol. Thus, Komodo is a direct descendant of the Bitcoin Protocol. It has the zk-snark tech that is the foundation of Zcash, but instead of having the regular PoW-model that the Bitcoin Protocol has, they have created something they call Delayed Proof-of Work, to make it more robust and secure.
The ultimate ambition of this network is to become a turn-key blockchain ecosystem that developers on any level can access and utilize, making the network extremely versatile. Therefore, they are of the belief that a multitude of diverse partnerships will send this project into a very bright future.
Developers that code on the Komodo platform will not be building on the actual blockchain. Neither are they building something on a fork or sidechain, but instead your very own standalone blockchain. Thus, Komodo is not “parenting” the standalone blockchains, but instead connects them to the main ecosystem. This demonstrates the very nature of Komodo’s modular ecosystem philosophy. It also allows developers to choose freely which technologies embedded in the ecosystem, that they wish to connect to their own projects.
Komodo uses Zcash’s zero-knowledge proof technology to bring about user anonymity and private transactions. One novel concept of Komodo is its Delayed Proof-of-Work (dPoW) protocol. The algorithm records new Komodo blocks onto the Bitcoin blockchain by writing them in a Bitcoin transaction. Thus, as long as the Bitcoin blockchain remains safe, Komodo’s ledger will also stay safe.
If you have concluded that this is the coin for you, congratulations! Buy Komodo here.