Komodo (KMD) functions as an always-available form of online currency. It enables you to conduct transactions in a highly secure setting where all data is kept private. It is the newest cryptocurrency to enter the market. It began as a privacy currency before developing into a platform. It combines the security of Bitcoin with the anonymity of ZCash. The platform was forked from ZCash by SuerNET. The team has also created specific tolls that combine with the digital currency to create a full ecosystem of cutting-edge functions, such as decentralized trading.
This crypto is renowned for focusing on anonymity, which means that the user’s identity is kept private. It uses Delayed Proof of Work (dPoW) protocol security and zero-knowledge proofs to ensure anonymity. What you need to understand about online currency and its most recent advancement is that it was created to revolutionize the cryptocurrency market. It is a platform that supports other apps in addition to being money.
History of Komodo
The platform was developed to create a decentralized system for token issuance, trading, and network distribution. Additionally, it offers corporate blockchain solutions and decentralized apps. It is the first cryptocurrency platform to offer automated order matching and decentralized atomic swaps.
This crypto is the first effort to develop a secure way to participate in an ICO. It also produced distribution by utilizing Jumblr and BarterDEX technology and the first cryptocurrency to collaborate with the Fintech e-banking platform Monaize.
Benefits
Here are some key terms that you need to understand to fully appreciate Komodo and its advantages. Some benefits are outlined here:
dICO
Decentralized initial coin offering, or dICO. Jumblr technology, used by dICO, guarantees investors’ privacy.
Atomic swaps
This enables a transaction without the intervention of a third party. It makes trustless exchanges possible.
Mixer/tumbler
An anonymous cryptocurrency mixer or tumbler.
Dapps
Blockchain-based, decentralized applications
Zero-knowledge proofs
There are two parties involved in a transaction: the prover and the verifier. The prover can validate a statement thanks to the Komodo platform. There is no other information disclosed.
Aggregate coin count in circulation
Similar to Bitcoin and other cryptocurrencies, this digital coin’s market is confined to a fixed number of coins. There are 200 million coins in all. 100 million of these 200 million were dispersed. Out of the 100 million circulation coins, 10 million were saved for project development and the remaining 90 million were distributed. The final 100 million coins from the initial coin offering are being mined using the POW algorithm.
How to buy Komodo
This crypto cannot be purchased directly with fiat money, but you may swap their cryptocurrencies, like Bitcoin, Ethereum, and Litecoin, for KMD via ShapeShift. Komodo acquisition follows a simple process:
- You would require the Address of Komodo
- You can trade Komodo for Bitcoins or other cryptocurrencies.
Purchase this currency on exchanges like:
- Bittrex
- CoinExchange
- Cryptopia
- Cryptox
Komodo wallets
Some of this digital currency wallet includes:
Keychain Nano S
One of the best wallets for keeping Komodo is this one. The Ledger Nano S is the safest wallet since your private keys never leave the gadget.
Komodo paper wallet
Both the public and private keys are present on this paper wallet.
Agama wallet
Jumblr, which was added by the currency’s developers, improves the privacy function. Because it supports multiple coins, you can store Komodo coins as well as other supported coins. There is an internal exchange as well. Beta versions of Agama Wallet are accessible.
Komodo Swinalng Wallet
It is the official wallet for Komodo GUI. The most straightforward wallet is offered on Linux, Windows, and MacOS.
The future of Komodo
In the realm of investments, this currency has delivered outstanding returns to its investors, significantly enhancing its reputation. Furthermore, the diligent efforts of the Komodo team towards continual improvement are poised to elevate the quality of Komodo even further. A component of the SuperNET initiative is Komodo. The business is now exploring several different concepts that will eventually coalesce around the crypto platform. These initiatives will enhance not only their ecosystem but also those of other cryptocurrencies.
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