HitBTC is the most advanced Bitcoin exchange.
Did Komodo have an ICO?
Yes. Komodo held an ICO that lasted just over one month, from Oct 15 to Nov 20 of 2016. KMD was sold a rate of 0.00012908222 BTC per coin, or 7747 KMD for 1 BTC.
- One-hundred million KMD coins were issued, with 90% of them sold to investors and the remaining 10% held as working capital for Komodo’s development and marketing.
- Over the course of the ICO, Komodo Platform raised a total of 2,639 BTC. The closing price of BTC on November 20, 2016, was $731.03. At that price, we see that Komodo raised a total of $1,929,188 USD.
- The BTC raised in the ICO is used almost exclusively to pay BTC transaction fees necessary for the delayed Proof of Work security mechanism to function.
What has Komodo accomplished since the ICO?
Since the Komodo main net went live in January 2017, Komodo has consistently made enormous development after enormous development. There are really too many achievements to list them all here, but to highlight a few:
- Komodo is the only blockchain platform with a multi-chain architecture.
- Komodo is the world leader in atomic swap technology.
- Komodo has launched a Blockchain Security Service that protects any UTXO-based blockchain with the power of the BTC network.
- Komodo has an industry-leading scaling solution that will soon publicly demonstrate processing capabilities of 1 Million transactions per second.
- Komodo was the first blockchain project to offer support for UTXO smart contracts on a BTC-protocol coin.
- Komodo is one of the top 10 most active blockchains in the world.
- Komodo is an Advanced Technology Partner with Amazon Web Services (AWS).
What is Komodo all about?
Komodo’s technology is driven by these 4 Pillars of Blockchain Technology:
Security - Komodo’s innovative delayed-Proof-of-Work (dPoW) security mechanism protects the entire ecosystem with the power of the Bitcoin network. To compromise a protected chain, an attacker would need to overpower both the KMD network and the BTC network— at the same time.
Scalability - Komodo gives each project the autonomy to control their own independent infrastructure and dedicated blockchain. On top of that, every project has the freedom to scale out at any point in time by adding additional blockchains to linearly increase performance as needed.
Interoperability - With blockchain federation tech, Komodo enables seamless cross-chain interoperability among federated chains. Every Komodo-based blockchain is connected to chains outside the federation via atomic swaps. Komodo has already linked 95% of all blockchains in existence.
Adaptability - Komodo is an open-source project that is constantly innovating and developing. All new features are pushed to every project in the ecosystem. With a future-proof blockchain architecture, Komodo gives every project the ability to create modular, customized solutions for any situation.
With these 4 pillars in mind, Komodo is working towards its mission of accelerating the global adoption of blockchain technology by innovating cutting-edge features that remove barriers to entry for developers, blockchain startups, and existing businesses alike with simple, end-to-end blockchain solutions.
What makes Komodo unique?
The underlying architecture of Komodo is what sets it apart from other blockchain platforms.
Other blockchain platforms are a single blockchain with support for smart contracts and decentralized applications. Accordingly, all projects that build on one of these platforms are forced to share the same infrastructure.
This single, shared blockchain architecture is a recipe for crippling congestion. It’s also a huge barrier to the growth of the individual projects that build on these platforms as well as an obstacle to the mass adoption of blockchain technology.
Komodo has a unique multi-chain architecture that gives every project their very own dedicated blockchain with independent infrastructure. If one chain isn’t providing adequate performance, additional chains can be added to scale out and increase performance linearly.
All the blockchains in the Komodo ecosystem are secured with the power of the Bitcoin network and seamlessly interoperable with every other chain. And, on top of all that, each blockchain launched with Komodo can support smart contracts, including the ability to tokenize at a ratio of one native to as many as 100 Million tokens. The possibilities are endless.
What is Komodo working on now?
Development at Komodo happens at breakneck speed so it can change on a week-to-week basis, but here are a few things that the Komodo Team is currently focusing on:
- Constantly improving and adding coins to Agama, the ecosystem’s native multi-coin crypto wallet.
- Developing v2 of BarterDEX, Komodo’s atomic-swap-powered decentralized exchange.
- Bridging the gap between Ethereum and Komodo in order to allow seamless migration of ERC20 tokens to Komodo Platform.
- Building up Komodo’s UTXO-based smart contract library in order to provide external projects with out-of-the-box solutions.
- Fine-tuning Federated Multi-Chain Syncing scalability feature in order to verifiably process more than 1 Million transactions per second.
- Integrating more external blockchains to Komodo’s delayed Proof of Work (dPoW) security service network.
- Working on a full rebrand, updated messaging, improved user journeys, a brand-new website, and product strategy with Ideas By Nature, an industry-leading agency.
This is only a partial list but it includes most of the major developments currently taking place at Komodo Platform.