. What is Komodo (KMD)? Here is the Crypto Currency KMD Coin in All Details – In this article, What is Komodo (KMD)? We will answer the question and try to present details about the project.
What is Komodo (KMD)?
Komodo is an open multi-chain blockchain platform. Komodo offers projects the opportunity to create their own blockchains and host token sales.
Komodo is a hard fork from Zcash. ZCash is a privacy-focused fork of Bitcoin.
This means that Komodo’s roots stem from Satoshi Nakamoto’s pioneering work and the Bitcoin protocol. It inherits the technology from both Bitcoin and Zcash.
Komodo Smart Chain software maintains Zcash’s unique privacy features. These basically consist of the ability to convert money from a transparent address to a private address and then transfer money from one private address to another. Zcash technology allows money to be moved between two private addresses without leaving any traces of public data.
This is one of the strongest forms of blockchain privacy available, as the privacy offered is permanent.
Komodo is one of the pioneers when it comes to multi-chain integrations with roots dating back to 2014. Since 2019, Komodo has focused on providing business-friendly blockchain solutions that focus on security, scalability, interoperability and easy adaptability.
Komodo offers the Antara framework, which provides end-to-end blockchain development tools, including a library of built-in modules and a customizable, application-specific Smart Chain complete with an open API for building blockchain applications.
KMD Token
The currency connected to the Komodo network is the KMD token. KMD is an integral part of the Komodo network due to the dPoW consensus mechanism. The consensus mechanism would not work without a cryptocurrency.
KMD can be extracted, a total of 200,000,000 KMD will be awarded by the network. Like Zcash (ZEC), cryptocurrencies are mined using the Equihash algorithm. Currently there are just over 120 million KMD in circulation. The last coin is expected to be mined in 2030.
The Komodo developer team is busy and has made some great updates over the past years. For example, in March 2019, the team developed Dilithium, a quantum-secure blockchain module built with the Komodo Antara Framework. This makes Dilithium compatible with all other projects built on the Komodo ecosystem.
Later in the year, Komodo launched AtomicDEX, a wallet and a cryptocurrency exchange. This allows trade between spouses.
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