Komodo Platform Explanation
A cryptocurrency project that focuses on providing anonymity through zero knowledge proofs and security through a novel Delayed Proof of Work (dPoW) protocol. The ecosystem consists of 5 key components that are integrated into the platform.
Komodo Core: The ecosystem's cryptocurrency (KMD)
Assetchains: Tokenization and white-glove blockchain solutions. These tokens can be used as cryptocurrencies or to store data on the blockchain.
Jumblr: Zero Knowledge coin agnostic mixer
BarterDEX: Decentralized exchange that performs atomic swaps on native and SPV clients. It allows users to trade blockchain-to-blockchain without giving up their privatekeys.
Agama: Multi Wallet for all cryptocurrencies.
Objectives and accomplishments
• The project’s primary goal is to decentralize token issuance, exchange, and distribution. However, they also provide a framework for dapps (decentralized apps) and corporate blockchain solutions. They have accomplished this by introducing one of the most complete and trustless ecosystems in cryptocurrency.
• Komodo Platform is the first cryptocurrency project to provide decentralized atomic swaps with automatic order matching.
• The first project to create a private ICO participation mechanism and distribution by leveraging Jumblr and BarterDEX technology (dICO).
• Recently, the project realized the first Atomic Swaps on SPV (electrum) clients. It allows users to swap atomically without having to download the entire blockchain.
• One of the first cryptocurrencies to partner with a Fintech e-banking platform (Monaize). The same fintech company will launch the first dICO in history using Komodo Platform’s technology.
dICO: Decentralized ICO. It is the first ICO mechanism that uses Jumblr technolgy to protect the privacy of investors.
Dapps: Decentralized applications that are blockchain based.
Zero Knowledge proofs: In cryptography a zero-knowledge proof or zero-knowledge protocol is a method by which one party (the prover) can prove to another party (the verifier) that a given statement is true, without conveying any information apart from the fact that the statement is indeed true.
Atomic Swaps: Allows users to conduct trustless, cross-chain, over-the-counter (“OTC”) trades without a third party.
SPV: Simplified Payment Verification mode, named after the section of Satoshi's paper that describes it, clients connect to an arbitrary full node and download only the block headers. In other words, it’s a lite client that does not require the user to download the entire blockchain.
Mixer/Tumbler: A cryptocurrency anonymizer.