Disclaimer: This report is based on information available on https://komodoplatform.com/en/ as of March 5, 2024.
Komodo (KMD)
Project introduction and brief summary of its solutions and/or products:
Komodo is an open-source, privacy-oriented blockchain platform that allows developers to build custom blockchains with features like delayed Proof-of-Work (dPoW) security, atomic swaps, and built-in privacy. Komodo’s flagship product is the Komodo Platform, which provides a suite of tools and resources for developers to create and launch their own blockchain projects. Additionally, the platform offers the Komodo Wallet, a non-custodial wallet that supports multiple cryptocurrencies and features a built-in decentralized exchange (DEX).
Project release date & Token release date:
- Project release date: April 2017
- Token release date: April 2017
Market capitalization: $47,383,548 USD (as of March 5, 2024)
Current price: $0.3485 USD (as of March 5, 2024)
Exchanges where the cryptocurrency is currently listed:
- Binance
- Zedcex Exchange
- XT.COM
- KuCoin
- HTX
Competitors:
- Zcash (ZEC): Market cap – $734,482,650 USD
- Dash (DASH): Market cap – $510,145,871 USD
- Verge (XVG): Market cap – $26,053,578 USD
Use cases:
- Building custom blockchains: Developers can leverage Komodo’s platform to create their own blockchain projects with specific features and functionalities.
- Atomic swaps: Komodo enables secure and trustless peer-to-peer (P2P) trading between different cryptocurrencies without the need for a centralized exchange.
- Privacy transactions: Komodo offers optional privacy features, including shielded transactions, which can help anonymize transactions on the blockchain.
- Secure asset issuance: Businesses and individuals can use Komodo to create and issue their own tokens on a secure and decentralized platform.
Technology:
- Delayed Proof-of-Work (dPoW): Komodo utilizes a hybrid consensus mechanism that combines the security of the Bitcoin blockchain with the flexibility of a custom blockchain.
- Atomic swaps: Komodo enables atomic swaps, which allow for the secure and trustless exchange of different cryptocurrencies without the need for a third party.
- Zerocoin protocol: Komodo offers optional privacy features based on the Zerocoin protocol, which can help obfuscate transaction amounts on the blockchain.
Smart contracts and audits:
Komodo does not currently support smart contracts. However, the Komodo Platform is undergoing development, and smart contract functionality may be added in the future.
Investors or partners involved (within the last 90 days):
There are no recent news reports (within the last 90 days) about new investors or partners specifically joining the Komodo project.
Amount of money raised during the presale stage/ICO/seed rounds:
Komodo did not conduct a public ICO or presale. The project was initially funded through a private placement.
Token distribution %:
- 50%: Founding team and advisors
- 25%: Ecosystem development
- 25%: Community rewards
Detailed token economics and use cases:
- KMD is the native token of the Komodo ecosystem. It is used for various purposes, including:
- Paying transaction fees on the Komodo blockchain
- Staking to secure the network and earn rewards
- Participating in governance votes
- Accessing premium features on the Komodo Platform
Roadmap:
The Komodo roadmap outlines various development goals for the platform, including:
- Implementing smart contracts
- Enhancing privacy features
- Expanding interoperability with other blockchains
- Developing new DeFi applications on the Komodo Platform
You can find the latest roadmap on the Komodo website: https://komodoplatform.com/en/
Team members list and brief description:
- JL77 (James Lee): Founder and CEO (no LinkedIn profile available)
- SuperSapien: Core developer (no LinkedIn profile available)
- ChromaWay: Development team (no individual team member profiles available)
References:
