Komodo

Komodo cryptocurrency | Komodo Info | Komodo currency

Komodo Information

Algorithm Equihash
Proof type dPoW/PoW
Start date 01/09/2016
Coin Tag KMD
Website komodo
Exchanger
Bittrex
Cryptopia

Komodo cryptocurrency

Komodo (KMD) is a decentralized, open-source cryptocurrency released in September 2016 and based on Zcash fork. It is mainly for performing transparent, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain through a Delayed Proof of Work Protocol (dPoW). It is private money with a built-in gateway to 32 independent Komodo participating currencies. Each currency has its own independent block chain. One can have transparent transactions with it. It has a technology called ZK-SNARKs which hides the sender, receiver, and the transaction amount too. Thus, the Komodo currency platform provides the same security to the third party blockchain too. The technology ensures the security and also powers the application with many privacy features.

To better understand the Komodo platform you should be familiar with these three things

  1. Zcash –  sk-SNARK protocol

Zcash is the open cryptocurrency project that has the sk-SNARK protocol. Komodo is adopting the same protocol to make anonymous and private transactions.

  1. Delayed Proof of Work (dPOW)

This is new Protocol developed by Komodo developers. It is a consent mechanism which uses the regular proof of work protocol but does it little different operation compared to the Bitcoin.

  1. SuperNET

It is a decentralized organization that is creating open-source and decentralized tools for the cryptocurrency market. The official currency of the superNET is the Komodo cryptocurrency.

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