Komodo (KMD) has announced that it is adding interoperability support for AtomicDEX with a host of 13 other blockchains. It’s the latest move in cross-chain integrations by Komodo (KMD). The news saw its native token surge by nearly 50%. Here are some highlights:
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The interoperability integration with AtomicDEX will now make cross-chain transactions easier.
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Komodo’s native token has jumped from lows of $0.44 to $0.6 in response to the news.
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At press time, those gains had fallen a bit and the coin was down by 7%, trading at $0.5.
Data Source: Tradingview
Komodo (KMD) – How can interoperability help it grow?
Cross-chain interoperability remains one of the most important topics in the crypto industry. The ability to conduct transactions across various blockchains remains elusive but not impossible. Komodo (KMD) is hoping to lead the charge in this regard.
So far, the project is adding support for 13 chains. AtomicDEX remains among the very few decentralized exchanges that have excellent cross-chain support. The platform is not just compatible with the Ethereum Virtual Machine but with other projects as well, including Dogecoin.
Also, Komodo is making a major push to bring NFTs to its ecosystem, including its own exclusive NFT collection. All these moves are designed to expand the ecosystem, and in the end, this will be reflected in the price. KMD is now trading at $0.5 and as sentiment in the market improves, expect the coin to surge further.
Is Komodo (KMD) a good buy?
Yes, Komodo (KMD) has really shown a lot of promise. The focus on cross-chain interoperability is a big move. Although there are challenges and weaknesses, there is no doubt this is the way to go for the blockchain industry.
Komodo appears to be leading the way, and as such, it is a decent investment right now. The project also has a market cap of $70 million so it can grow further.
► ZK Snarks: https://www.coinbureau.com/education/zero-knowledge-proofs-zksnarks/
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Helpful Links
► Website: https://komodoplatform.com/
► Whitepaper: https://bit.ly/2TXGOEy
► GitHub: https://github.com/KomodoPlatform
► Wallets: http://komodoplatform.com/komodo-wallets/
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Socials
► Official Blog: https://medium.com/@komodoplatform/introducing-the-worlds-first-decentralized-ico-blocnation-komodo-d9fe2ce98823
► Twitter: https://twitter.com/komodoplatform
► Discord: https://discordapp.com/invite/QpYmzqk
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Project Overview
The Komodo blockchain is an end-to-end blockchain solution that external developers can use to build their own blockchains and launch their own ICO.
When external developers build a blockchain on the Komodo platform, they are building their own standalone blockchains.
These will also be modular meaning that these developers can choose the type of features and technologies that they want to include in their blockchain.
Technology
You have a decentralised exchange called AtomicDEX.
This utilises atomic swaps and more recently etomic swaps – these bridge the gap between Bitcoin and Ethereum based blockchains.
Then you have the Jumblr feature. This is a cryptocurrency anonymizer developed by Komodo which is decentralized and open-source.
There is also the recently launched Antara framework. This is an adaptable framework for simple, end-to-end blockchain development.
Komodo uses a Delayed Proof of Work consensus mechanism. Komodo does this by using 64 “notary nodes” that work to notarize blocks in the Bitcoin blockchain.
Komodo uses Zcash’s privacy enhancing features. They utilise Zero Knowledge proofs and ZK-snarks to anonymise transactions.
Token
The native currency behind Komodo is Komodo coin (KMD).
You will earn interest on your Komodo holdings assuming that you have more than 10 KMD in this wallet.
The project held an ICO in February of 2017 where they initially sold some of these coins for 10 cents per KMD.
Team, Partners & Development
The full team is now nearly 30 members spanning leadership, development, marketing, and community development.
There are numerous contributors from the community, both developers and community outreach ambassadors.
The Komodo developers are very busy and have been pushing a large amount of Code in their GitHub.
Trading & Wallets
KMD is listed on a number of exchanges including Binance, HitBTC, CoinBene, Upbit, Bittrex etc.
The volumes are also pretty well spread out across these exchanges and there is reasonable turnover on these exchange’s books.
Storage of KMD has a limited selection of wallets. See link above for the best wallets to use.
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Disclaimer
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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