Komodo is a blockchain platform that offers high-security and decentralized hosting of blockchains. Additional perks include the availability of multiple wallets and pegged assets. Komodo is one of the projects from the 2014-founded SuperNET. MultiGateway, SuperNET Lite, and InstantDEX comprise other developments and the vision of SuperNET.

The Komodo platform adds a new feature to previous developments of SuperNET which increases security through notarized nodes. Komodo’s Initial Coin Offering ended November 20th 2016 and was geared towards raising funds for further project development.

The Komodo blockchain allows users and developers to share information and integrate the same on their own platforms, in effect improving the entire blockchain system.

The Origin of Komodo

Komodo is the latest project of SuperNet, a bigger blockchain roadmap that would allow the creation of entire blockchains within its system, the use of multiwallets, pegged assets, and atomic swaps. The addition of Komodo in SuperNET, which is the only coin in SuperNET, would focus on providing a coin that can be used by the other systems, increasing technological anonymity, and increasing transactional privacy and security through the delayed Proof of Work.

Komodo’s Relation to Zcash

A quick Google search of Komodo also pops up Zcash. Here is how Komodo somehow relates to Zcash:

Bitcoin is characterized by highly secure trading properties and processes. In line with Bitcoin’s code on the anonymity and privacy of transactional data, the Zerocash protocol was developed by Zcash as a new implementation for enhancement.

Komodo uses the same parameters of security as Zcash, hence has a similar level of transactional security and privacy. Where the two (Komodo and Zcash) have no direct link, JL777, the lead developer of Komodo, participated in the initial protocol designs that gave birth to Zcash. As such, JL777 understands the components and players in the formation and running of Zcash.

A key difference between Zcash and Komodo is that Zcash’s mining (approval processes) focuses on Proof of Work (PoW) while Komodo’s mining adds a consensus mechanism of delayed Proof of Work (dPoW) that increases security to every chain on a block.

Benefits & Features of Komodo

1) Security: Security on the Komodo blockchain is implemented and achieved through two key features: the delayed Proof of Work (dPoW) and Notarized Nodes. With delayed Proof of Work, every transaction on the Komodo blockchain gets the same security level, arguably better, than the Bitcoin blockchain.

Additional security is achieved through notarized nodes that are selected by the holders of Komodo coins. Komodo notarization currently employs 64 notary nodes. Notarized nodes not only ensure that the chains attached to Komodo tap on the Bitcoin Blockchain’s security but also there is reduced mining difficulty. Normal nodes strip off the Bitcoin Blockchain security from the chains that are attached to Komodo Blockchain, and reinstates the normal mining difficulty. It is to be noted the loss of notarized nodes (for whatever reason) would not collapse the Komodo Blockchain.

2) Multi-wallets: A wallet refers to the platform which a person can store his or her cryptocurrency or digital assets on a blockchain. Komodo blockchain offers users and developers a variety of wallets. Desktop wallets can be downloaded on devices that operate on Windows, Apple operating systems, and Linux. In addition to the desktop wallets, Komodo makes available Paper Wallets (encrypted offline paper) and compatibility with hardware wallets such as the Ledger Nano S.

3) Atomic Swaps: An obvious concern that would arise in the minds of most people is how risk-free transactions can be conducted from one wallet to another. As previously mentioned, Komodo wallets range from desktop to paper and hardware wallets. Thankfully, Komodo Blockchain allows for the transfer of funds or transactions between the wallets or between cryptocurrencies without inconveniences or security risks in many typical instances where an atomic swap could be performed.

4) Pegged Assets: Komodo platform allows users and developers at Komodo to attach their trading assets to relatively stable assets and fiat currencies such as the U.S. Dollar or the Euro. By pegging such assets on more stable currencies, the volatility of the prices of the cryptocurrency assets can potentially be reduced.

Komodo’s Focus on Decentralization

Perhaps the most attractive feature of the Komodo Platform is the fact it’s decentralized. This means users and developers are not totally dependent on the platform to serve the ecosystem from a single point of failure.

The team at Komodo is at the disposal of developers and other Komodo platform users to assist in the development of specific features or the utilization of Komodo’s features. Komodo platform has multiple technologies and since its users have independent blockchains, they have the freedom to choose which technologies to utilize and which technologies to disable.

As with every great product, service, or platform, Komodo has a team of geniuses and friendly personnel who are dedicated to making every aspect of this platform function optimally. The founder and lead developer of Komodo Blockchain is JL777. His experience dates back to the development of SuperNET, from which Komodo was born, and the protocol discussions of a project that is similar to Komodo: the Zcash project.

Komodo’s development team is comprised nine team members, inclusive of JL777. Additional teams in the Komodo platform comprise the administrative & support team, ambassadors & advisors, and the marketing team.

Conclusion: Our Thoughts on Komodo

We feel Komodo is not only demystifying and making cryptocurrency trading, investing, and storage simpler but it also offers a level of security greater than comparable cryptocurrencies through the notarized nodes.

Developers and users have the freedom to develop their own unique independent blockchains and make use of the features and technologies that Komodo platforms offers as it relates to specific needs and requirements. As the Komodo platform continues to grow, we can only expect more innovation and utility for users and developers.

Disclosure: Author of this post holds $KMD tokens at the time this review was published.