Komodo Is the Foundation For a New Decentralized Ecosystem
Decentralized trading, anonymity, and pegged assets is something we all want. Today they are working and waiting for the launch of Komodo.
Decentralized trading, anonymity, and pegged assets is something we all want. Today they are here - in a testnet - working and waiting for the launch of Komodo.
The Komodo Platform is a project that unifies all decentralized technologies an organization called SuperNET has been developing during the past two years. The goal is to build a framework and make the development of decentralized applications (DAPPs) easy. With the underlying technology the team has already created many applications, such as a decentralized exchange EasyDEX and fiat pegged assets (PAX), along with a multiwallet called Iguana.
The Komodo Platform is first project to fork Zcash and will have the same privacy features ready when the mainnet launches two weeks after the ICO. However, whereas all Zcash coins has to be mined the Komodo coins are distributed to the investors. Komodo’s will function as an infrastructure coins for the wider ecosystem.
Komodo has developed more features on top of the initial privacy technology, such as a capability to notarize blocks from the Komodo blockchain to the Bitcoin blockchain. This method is a new consensus mechanism called delayed Proof of Work (dPoW). It will also strengthen other cryptocurrencies as they too can use it and get Bitcoin level security through Komodo.
Most of the projects are close to completion, and the team has already published two whitepapers: one about dPoW and the other about EasyDEX. A third whitepaper (PAX) is in the production, and it will explain how the pegged assets work. The PAX will allow users to exchanged national currencies, and that combined with a decentralized exchange will effectively create a decentralized forex market.
The features mentioned above will be integrated within the Iguana multiwallet which will allow its users to store any Bitcoin compatible coins. As both Komodo and Zcash are forks of Bitcoin they too can be used. An additional GUI is being developed for the private payments and the decentralized exchange.
The end result is trustless exchange and storage of cryptocurrencies, assets, and fiat pegged tokens. Everything can be accessed from the same GUI and Komodo is used to power the entire ecosystem.
Join the Komodo Crowdfunding campaign here.
Learn more about SuperNET here.
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