Interview with Komodo team ($KMD)

  • Security — Komodo’s delayed-proof-of-work (dPoW) takes snapshot “backups” of the entire KMD ecosystem every 10 minutes and inserts them into BTC. This serves as the foundation of our technology as it allows Komodo to extend bitcoin-level security to customized independent blockchains into our ecosystem. Compromising any single chain in our ecosystem requires overpowering the target chain, KMD network, and BTC network — all at the same time.
  • Scalability — Every project launching on Komodo get’s their own independent and dedicated blockchain secured to bitcoin’s hashrate. As this chain isn’t being shared by 100–1000s of other dApps/projects, scalability and unpredictable performance becomes less of an immediate concern. When a single chain is no longer sufficient, every project can scale on demand by deploying a clone of their chain and linking those two chains into a cluster, which then acts as a single logical blockchain. You can continue to deploy additional chains to scale independently and linearly to meet the demands of your project. Komodo has successfully hit our 20K tps and 45Ktps milestones, with the final target of 1M tps being planned with AWS. It is important to note that 1M tps would not be a limit on what the KMD ecosystem can handle, but a limit we’re extending to the cluster and individual project level.
  • Interoperability — Since Komodo is built on a multi-chain architecture, it was important that these chains had interoperability built-in at multiple levels. Phase 1 of interoperability has been driven by Komodo’s leadership in Atomic Swaps technology. Every Komodo chain has atomic swaps built-in — extending the ability to exchange value and data between KMD ecosystem chains to every bitcoin based protocol and ETH/ERC20 blockchain. Through Merkle proofs and our notary node network, every chain in our ecosystem is aware of all the transactions happening on every chain through a syncing process that follows the security process. This “federation” enables cross-chain fungibility, verifications, and smart contracts to become a reality. Future plans for blockchain bridging (UTXO/ETH already in development) are the third and last phase to our interop plan.
  • Adaptability — In any emerging technology, the ability to adapt and be flexible is crucial to accelerating development. Every independent chain is highly customizable, allowing you to choose from consensus algo, mining configuration, cpu/gpu/asic optimized mining algos, rewards/staking, zk-snarks, permissions, and many more options. Every upgrade to the core KMD stack is also pushed to all chains in our ecosystem as free updates. Our federated multi-chain architecture not only allows you to scale on demand, but can also support application-specific chains, meaning you can have chains that are dedicated to payments, smart contracts, exchange, etc.
  • Our founder and lead developer, James “jl777” Lee has a long history of innovation in the blockchain space. Being a gifted C programmer allows him to solve issues and create solutions through low-level code without introducing additional layers of complexity. He is also one of the most responsive lead devs in the industry, answering any and all questions.
  • Our CTO, Kadan Stadelmann, is a white-hat hacker and security expert who has in the past led IT security projects for both the Tunisia and Austrian governments. Kadan’s background and expertise in blockchain allows us to drive a security-first strategy around all out technologies.
  • Our core strength has and will continue to be anchored around technology leadership. Komodo is currently #1 in github commits across all cryptocurrency projects. Komodo has also consistently been in the top 10 for actual blockchain activity on blocktivity.info, which is actually understated as it doesn’t reflect all of the independent chains in our network. China’s Government’s (CCID) blockchain rankings have consistently had Komodo in the Top 15, although we feel they don’t truly understand the extent of our technologies.
  • Security Tokens Platform
  • Non-fungible Token Platform
  • Stable Coins
  • Oracles — integration and management of 3rd party data with smart contracts
  • Atomic Swap DEX
  • Multi-Coin wallet + cryptocurrency
  • dICO platform
  • Permissioned options
  • Enterprise options
  • KMD sidechains for ERC20/BTC protocol based projects — get KMD features and functionality without having to fully migrate off current blockchain, which also offers a seamless migration plan to KMD.
  • Supply Chain / Logistics
  • Betting/Gambling
  • Still finalizing prioritization on this. Nearly any use case can be addressed. As we gather requirements for diff use cases and verticals we build the logic functionality into the KMD codebase.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Crypto Rand

Crypto Rand

7.8K Followers

Investor & Trader. CEO of Blockground Capital. Based between Andorra and Bangkok.