A bullet point study aid to help you understand the history of Komodo’s architecture.
This is a study aid for the Komodo infographic competition.
These notes are a rough guide and not to be considered a definitive list of information you may want to include in your infographic.
First Generation Blockchain Platforms had Problems.
- The very first blockchain platforms were built to host dApps via smart contracts.
- Each first-generation blockchain platform was just a single blockchain.
- All of the projects that build on a first-gen platform must share the same infrastructure.
Mass Adoption Exposed Severe Limitations.
- As first-gen platforms experienced massive adoption, many limitations were exposed.
- If one project becomes extremely popular, it causes congestion for the entire network.
- Transactions times become painfully long and transaction fees increase drastically.
- This is the logical result of a single, shared blockchain model platform.
Komodo Designed A Brand-New Platform Architecture.
- Komodo designed a new architecture that is secure, scalable, and interoperable.
- Every single project on Komodo is given a completely independent blockchain.
- No shared infrastructure means no congestion or limits to any project’s growth.
- Individual projects can even add multiple blockchains to increase performance.
- In essence, every project that builds on Komodo is given their own platform.
64 Publicly-Elected Notary Nodes.
- Broadcast data from every chain built on Komodo to the main KMD chain.
- Consolidate and condense that data, then re-broadcast it back to every chain.
- Creates a checkpoint or a restore point for the entire KMD blockchain, onto Bitcoin, every ten minutes
- Stores the KMD checkpoint onto the Bitcoin ledger for security purposes.
- Komodo recycles the energy invested in Bitcoin to protect and secure independent chains.
Everyone get’s their own chain! Independent Assetchains.
- Are given to every project that builds on Komodo Platform.
- Prevent congestion and allow each project to scale independently.
- Are modular and can be customized to meet individual needs.
Scalability Without Limits.
- If one assetchain is not providing adequate performance, more chains can be added.
- Multiple chains can be bound together to function as one logical blockchain.
- Independent chains process transactions in isolation, allowing more than 20K tx/sec.
An Interoperable Ecosystem.
- Atomic swaps allow peer-to-peer trading of 95% of coins and tokens in existence. Komodo bridges the gap between ERC20 tokens and Bitcoin coins.
- Federated Multi-Chain Syncing enables cross-chain fungibility without a trade or swap.
- All blockchains on Komodo communicate directly with all other chains in the ecosystem.
UTXO-Based Crypto-conditions Smart Contracts are more powerful than standard smart contracts.
- Creating “smart” UTXOs allow Bitcoin-protocol-based coins to support smart contracts.
- UTXO-based smart contracts are fast, secure, and Turing complete.
- Any assetchain in the Komodo ecosystem can tokenize up to 100 Million tokens per coin.
- Each Crypto-conditions smart contracts actually is creating a new consensus rule, not just executing instructions in some abstracted script language. This is what enables CC contracts to implement micropayments.