Komodo is a totally decentralized cryptocurrency.Thanks to the Delayed Proof of Work verification mechanism, KomodoPlatform can guarantee the security of its transactions with the hashrate of bitcoin(the highest in circulation).This happens thanks to the Notary Nodes, who record periodically on the Bitcoin blockchain all the updated information about transactions.
Komodo uses zk-SNARK protocol, which allows a complete anonymity between the two parties.
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The most interesting element about this crypto is that Komodo is already capable of making atomic-chain swaps between cryptocurrencies, which gives to this currency the possibility to be one of the first decentralized exchanges.
When we think about all the problems and constraints there are now while trading crypto, it’s easy to understand that Komodo’s goal is quite ambitious, and aims to disrupt the whole crypto-exchange market.
The incredible thing about blockchain is the capability of this technology in being completely decentralized.But when we enter in the cryptomarket, it’s quite difficult not going through centralized exchanges, paying high fees,have a big risk of cyber attacks, and being subjected to regulation from one day to another.
Komodo has not been on the radar until now, and had a very low profile marketing strategy.This means that the price until now has been more technology driven than speculation.It will be interesting to follow the developement and understand what this team is capable of.
Komodo is running now the first decentralized ICO on their platform, and this is already affecting the market, driving komodo price up.
If Komodo succeeds,a lot of crypto holders will prefer trading their coins directly on blockchains, rather than on a centrilized exchange.But to use this decentralized exchange users will have to buy Komodo first, which has a fixed supply of 200 millions coins.When this will happen, the fixed coin supply will face a high demand, and the price will be pressured to go up.For sure one of the most interesting crypto of this year.
Right now komodo is trading at 2.42$, while just a week ago a Komodo costed 1.81$.
A lot of people are unaware of the technology advantages this new crypto can take to this market, so there is still a lot of room for growth.Price will rise a lot, but just time will tell us.
This is not an investment advice, you should be responsable for your own finances.Always do your own research before investing in a cryptocurrency, because it’s a very risky market.This article is just my opinion on the subject and should be taken as a personal viewpoint, and not as an investment advice.