Komodo (KMD) Crypto Exchange

Komodo is a decentralized open-source platform that facilitates anonymous transactions. It was established in 2014 as a Zcash fork by a group of anonymous individuals with a creator who is known in the community as jl777 as its leader. The project was created with the of combining the functionalities and advantages of Bitcoin and Zcash.

Komodo was the first to use a delayed Proof-of-Work security mechanism. Such a mechanism makes it possible for a blockchain to benefit from the security of another blockchain, taking advantage of its hashpower. In this case, the Komodo blockchain was initially attached to the Bitcoin blockchain but has switched to the Litecoin one in 2021 which is claimed to provide Komodo with more cost-efficient and resource-efficient security. The Komodo network also utilizes a feature titled Platform Synchronizations which was developed by the project’s development team. Such a feature allows projects that are a part of the Komodo ecosystem to scale out linearly, achieving needed scalability. Platform Synchronizations also allow for data to be transferred from one blockchain to another without any actual transfers. It allows for blockchains within the ecosystem to communicate which includes transaction verification and dApp data exchange.

In 2021. Komodo introduced four new KMD use cases. These include KMD becoming a multi-chain coin, the ability to access discounted trading fees on AtomicDEX, buybacks and liquidity incentives.