Bitcoin, Crypto currency, Blockchain

Komodo Coin (KMD) and Komodo platform: What the new technology promises?

Quietly and secretly the Komodo defies Coin the current Downtrend for almost all Altcoins and has since been a fairly good Rally. The price has risen since the beginning of April of this year, of just under 0.15 of a Euro, now to € 2.43. You could have invested your capital in April in this Coin, you’d have now more than 15 times as much, and so there is a really strong Plus. But what is behind this promising platform?

The Komodo Coin is the result of the ZCash Fork, used but with the addition of a delayed Proof-of-Work consensus. What is clear is the exactly means, we will in the following report.

Komodo platform and Komodo Coin

The following Video explains in brief what the advanced technology brings everything:

The platform of Komodo is part of a larger project, the supernet platform, which has been around since 2014 and since then constantly further developed. The goal of this platform is to create an environment in which Users store their capital on a self-chosen Blockchain and can manage.

In this case, there will be a Wallet, which makes it possible to exchange different currencies against each other directly, without the detour via another trading platform will be necessary. It is, therefore, very low fees possible to swap Komodo against Bitcoin, Ethereum, Monero or other Altcoins. Thus, the way a exchange exchange as changelly.com or shapeshift.io superfluous. The Wallet is called Agama Wallet and is still being developed, but it will be in a timely manner.

The Komodo Platform offers a complete Blockchain-Kit for ICOs and crypto-currencies. The new Token will be fully integrated with the entire Ecosystem of compatible, and furthermore, all the developed functions and support.

This technology guarantees the coin’s developers, the introduction of a transparent coin supply, while the privacy of the investors is safeguarded by the integrated privacy features of Komodo.

The privacy is based on the “ZCash Zero Knowledge Proof” to make every transaction virtually untraceable, and thus a particularly high level of security. Edward Snowden also mentioned in an Interview that he ZCash for the first crypto currency to hold. With Bitcoin, every transaction can be tracked, so no anonymity is given.

Also, a new mechanism is used, which brings a lot of benefits and a real unique feature of the Coins is.

New consensus mechanism: Delayed Proof-of-Work

dICOs (Delayed Initial Coin Offersings) on the Komodo platform do not require high fees, since each chain is an independent Blockchain, which is secured by dPoW (delayed Proof-of-Work), whereby all of the dICO-transaction fees with the dICO-coin can be paid.

This consensus mechanism are the sets of Nodes on a delayed work to prove the so-called Notary is required. The are network nodes that act as a notary public (Watchdog), which are previously selected in a free vote with the Komodocoinbesitzern. These Notes bring the information on the Komodo-chain on the Bitcoin Blockchain. Through this consensus Protocol, the network is virtually immune to almost any kind of attacks.

The operator of the Notary Nodes receive as compensation, the transaction fees, as well as a part of the reward that will be paid out for the generation of new Blocks to the chain.

Delayed PoW is able to secure any kind of consensus. These third-party chains, block chains) do not have to pay for the Bitcoin transaction fees, but only fees to the initial dPoW-chain. That is, it is only the transaction fees incurred in the Komodo network.

This System is secure to ensure that the wasted energy is also used to the dPoW-Blockchain and all third-party chains, which use this mechanism for Consensus on transactions with the dPoW-Blockchain. Due to the coupling of the Blockchain with Bitcoin will be created an Ecosystem where Bitcoin is the center of all currencies, the dPoW. This means that there is a direct incentive for these crypto-currencies, actively to the development of the Bitcoin Blockchain.

With the new dPoW-consensus mechanism, everyone wins. Even the weakest of the Blockchain can obtain the best security, while Bitcoin is rewarded with an even more important role in the entire crypto-currency Ecosystem.

Security against attacks

Because, of course, safety plays a extremely important role to play in crypto currencies, we want to discuss below briefly on the most likely Attack, and how those on the network can have an impact.

Double spending attacks: a double issue attack to the opponent, a transaction-undo from the network is confirmed. The goal of the attack is to a transaction, e.g. a payment from a Contracting account holder to a victim receiver, to execute, to have the transaction confirmed, and then to make the transaction by, for example, in the main the book is included a second conflicting transaction.

So a double issue attack for a bitcoin-notarized-paid transaction can be executed, it must be the Bitcoin Blockchain re-written. This attack is considered nearly impossible, and therefore as harmless.

TRANS-action denial attacks: When a transaction denial attack the attacker can prevent a particular transaction is confirmed. For example, the opponent would like to address may be a specific account and prevent the account holder issues an outbound transaction. As long as you can connect to a node directly or indirectly with one of the notary nodes, are confirmed by the valid transactions.

Eclipse attacks: In the case of an Eclipse attack is the transmission of messages to a node on the basis of a Subversion in Peer-to-Peer messaging mechanism is violated. In the case of an Eclipse attack, in which the attacked node using only the nodes the attacker is connected to, is the best defence, a strong verified Chaintip.

However, if a connection to only a single honest node can be reached, can be discovered the true main chain of the attacked node. In most cases, the notarial data, the chain are in the dPoW-present permit such Bootstrapping, however, even if the attacker has generated a whole new chain from the Genesis, we can query the BTC chain, in order to find the true main chain.

51% attacks: An attack of 51% is always then, if the opponent is more than 51% of the notary node in a controlled manner. In this case, the attacker can prevent certain transactions from entering the Blockchain, but as soon as a Block in the BTC chain is notarized, can no longer be made in the notarized data undo, even if 51% of the notaries are controlled by the attacker. In this case, the attacker prevents new blocks of notaries to be created. The Fallback-consensus method is then to generate new blocks.

Notary public node attack: If all the notary nodes at the same time to go offline, it would of the dPoW network, with its initial consensus method (PoW or PoS) is effectively a normal Blockchain. The historical notarial data would remain in the dPoW-Blockchain intact, but a successful attack on the normal Blockchain could write this history. In this case, however, the BTC Blockchain can be in accordance with the notary data is being queried.

The dPoW-consensus mechanism can be further improved by normal nodes, it is possible to check the notarized data from the BTC-Blockchain directly. In this case, a normal node would even be able to find the properly notarized the main chain, and each incoming Block should be rejected, and would make a notarized treated Block undo. To put it differently:

Komodo Coin (KMD) ICO and coins distribution

Currently, 100 million Komodo-Coins are in circulation, of which 10 million for development, Bounties, and a consultant will be retained. 90 million Coins will be distributed to the participants of the current ICO’s. This ICO is still running up to the 20.11.2017 where early investors get a Bonus of 25%.

Ranking of the BTC Bonus system:

  • 15. Oct.: 25% Bonus
  • 16. – 22. Oct.: 20% Bonus
  • 23. – 29. Oct.: 15% Bonus
  • 30. Oct. – 5. Nov.: 10% Bonus
  • 6. – 12. Nov.: 5% Bonus
  • 13. – 20. Nov.: 0% Bonus

The Komodo platform also works with the innovative E-banking platform Monaize.

Komodo Buy and Wallet

Currently there is still not a Wallet, this is still in the development phase and should be in a timely manner under the name of Agama Wallet.

A guide on how you can buy Komodo, we have summarized for you here in our step-by-step instructions. Unfortunately, there are no Exchanges on which Komodo directly against Fiat money exchanged or traded.

Conclusion the Komodo Coin

This platform is the first of its kind, which used to be a new consensus mechanism, the delayed Proof-of-Work. Thereby, it is possible to take advantage of the security of the Bitcoin Blockchain, as well as to be active at the same time completely anonymous transactions. And this is thanks to the ZCash Zero Knowledge Proof technique.

These two technologies combined give the Komodo Coin a current stand-alone feature on the crypto-market, which has taken over 3 years of development.

Since the Komodo-rate is still at 2.50 euros and thus is affordable, it might be worth Considering to invest in this Coin, better to say, in the technology.

Official website: https://komodoplatform.com/

Disclaimer: — trading in crypto-currencies carries a large financial risk, and can be up to a total loss of the invested capital. Coin-hero.de does not constitute investment advice and recommendation within the meaning of the securities trading act (WpHG). The website content is intended solely for the Information and entertainment of the reader. The statements made here represent only our own opinion and not a recommendation to buy. Please do your own research before you invest in crypto-currencies. We do not accept any liability for any kind of damage. Please also read our disclaimer in the imprint. —

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