Introduction
The Komodo project focuses on empowering users with Freedom through blockchain technology. There are many forms of Freedom that Komodo can provide, and they are currently focusing on empowering two types of users: the blockchain entrepreneur, and the average cryptocurrency investor. Together, such community of entrepreneurs, investors, and other users form an economic ecosystem.
The foundational pillar of the Komodo ecosystem is security. Komodo provides a unique and innovative form of security that is as strong as the Bitcoin network, yet does not require the incredible cost. Every member of the Komodo ecosystem receives the benefits of this security. The investor relies on it for everyday use. The entrepreneur relies on it to protect their blockchain innovation at a cost that is affordable even to small businesses and startups.
Another of Komodo’s powerful technologies is a new method of trading cryptocurrencies directly from one person to another. It is a new kind of “decentralized exchange.” Their decentralized exchange removes all forms of middlemen, vouchers, and escrow services. It relies on an underlying concept called the “atomic swap”, and they are the leaders in this technology.
Technology
Komodo presents a technology, the delayed Proof of Work consensus mechanism. Komodo’s unique consensus mechanism provides the same level of security as the strongest PoW network, without attempting direct competition. Instead, Komodo’s consensus mechanism uses the chosen PoW network as a storage space for “backups” of Komodo transactions. By this method, in the event of an attempted attack on Komodo’s blockchain history, even a single surviving copy of the Komodo main chain will allow the entire ecosystem to overwrite and over rule any of the attacker’s attempted changes.
In a key difference separating Komodo from regular PoW networks, dPoW consensus mechanism does not recognize the Longest Chain Rule for any transactions that are older than the most recent “backup” of the Komodo blockchain. For conflicts that may arise which refer to transactions that are older than the most recent “backup,” this consensus mechanism looks to the backups in the chosen PoW blockchain to find the accurate record.
Furthermore, entrepreneurs who build independent blockchains (asset chains) in the Komodo ecosystem can likewise elect to have backups of their own records inserted into the Komodo main chain. In this manner, the records of the entrepreneur’s chain are then included in the backup that is pushed into the protective hash rate of the main PoW blockchain (Bitcoin). Thus, entrepreneurs and developers in the Komodo ecosystem can have their independent blockchains protected by the chosen PoW network’s hash rate.
Therefore, to destroy even the smallest asset chain that is employing Komodo’s dPoW security, the attacker would have to destroy: a) all existing copies of the asset chain; b) all copies of the Komodo main chain; c) the accompanying PoW security network into which the dPoW backups are inserted (Bitcoin). This endows the Komodo ecosystem with higher than Bitcoin-level security, while avoiding the excessive financial and eco-unfriendly costs.
In addition, the dPoW security provided by Komodo is not only greater than Bitcoin, but is also more flexible. The Komodo security services are performed by notary nodes, chosen through a stake-weighted vote. Notary nodes have the freedom to switch notarization to another PoW network. Reasons the notary nodes might elect to switch networks could include an event where worldwide miners’ hashing power changes to another PoW network, or the cost of notarization to the current PoW network becomes more than necessary. Through this flexibility, the Komodo ecosystem maintains both a superior level of security and a more flexible and adaptive nature than Bitcoin itself.
Komodo’s Iguana Core Technology
All the following processes are supported by a deeper Komodo technology called Iguana Core. Iguana Core is the heart of the underlying technology that enables the vast Komodo ecosystem to work together. The Iguana Core code itself is complex and to fully explain would require a separate white paper.
In short, Iguana Core is a collection of code that serves many purposes. One function of Iguana Core is to empower the blockchain technologies Komodo either builds or adopts to act in coordination with each other. Often, Iguana Core can advance their initial capabilities beyond original expectations. In the case of dPoW, the code that underlies notary-node functionality spawned from Iguana Core technology.
Iguana Core is coded in the C programming language — the language of choice of Komodo’s lead developer, JL777. The C language is designed to enable computers to process high volumes of information in a secure manner at high speed. This aligns with Komodo’s directives to provide security and scalability to its users.
Security Provided by the Notary Nodes
Security is the foundational aspect of the Komodo ecosystem. The Komodo ecosystem uses a stake-weighted vote to elect parties who will run sixty-four separate “notary nodes.” These notary nodes perform the “backup” process via automation provided by the Iguana Core software that runs at the heart of their system. These backups are called “notarizations.” Each notarization performed by the notary nodes acts as a marker of the “true” history for the Komodo ecosystem, and this marker’s accuracy is secured by the hash power of the chosen PoW network.
The notary nodes work together in a decentralized and trustless manner both to create each notarization and to write it to the chosen PoW network (Bitcoin). Frequency varies between two to six notarizations per hour, and the yearly cost to perform this service is ~180 BTC. Funds for this service were raised as a part of initial Komodo ICO, and their holdings allow them to continue this method for many years before they will be required to implement a business model to replenish reserves.
With their dPoW mechanism, each confirmation on the chosen PoW network is also a confirmation of the entire Komodo ecosystem’s history. The only sacrifice that is made is the time it takes to push the Komodo ecosystem’s records into the protection of the main hash rate. For this reason, they named consensus mechanism “delayed Proof of Work” (dPoW).
Their consensus mechanism is designed to keep the advantages provided by the PoW system, circumvent the excessive financial and eco-unfriendly overhead costs, and avoid the security risks found in a PoS system. These measures are accomplished by several means. The most important measure is that all actions a notary node takes are publicly verifiable, and the Iguana Core software running on the users’ machines verifies notary nodes’ actions. The notary nodes themselves are not arbiters of “truth.”
Therefore, the only type of “false” behavior a malicious notary node can perform is to withhold notarization. There are sixty-four notary nodes. The minimum number of notary nodes required to maintain the Komodo ecosystem is thirteen. Thus, a malicious actor would have to compromise fifty-one notary nodes to shut down the Komodo ecosystem. Such an action would be uneconomic, as this would be destroying the access to the financial rewards a notary node receives for performing its duties. By this design, notary nodes have only one economically favorable position: to properly transfer the records of the Komodo ecosystem into a secure location and to increase Komodo’s market share and value.
For the average user, when performing a trade of goods and services where security is desired, the user simply needs to wait until the notarization process is complete. After the notary nodes are finished, the only way to break the security protecting their transaction history requires breaking the security of the chosen PoW network (Bitcoin). The Iguana Core code running in the main Komodo software automates the verification process. Entrepreneurs and developers should be aware of this information as they design business models and services for their users.
Thus, Komodo’s dPoW consensus mechanism maintains the security innovated by Satoshi Nakamoto, and because it enables the Bitcoin hash rate to serve more independent blockchains than just the single Bitcoin blockchain, dPoW even expands on Nakamoto’s original design.
These security features extend to any asset chain relying on the notarization process. The primary difference between an asset chain and the main chain is that the main chain notarizes to an exterior PoW network (Bitcoin), whereas the asset chain notarizes to the KMD main chain.
The notarization for the asset chain is performed by the notary nodes as a service to the independent developer and entrepreneur. Notary nodes create a notarization of the asset chain and write it into the KMD main chain. Then they write their actions into the asset chain itself. This allows Iguana Core to identify where its most recent notarization can be found. The notarization process cycles every ten minutes, assuming the asset chain’s network is consistently active. If the network has periods of inactivity, the notary nodes halt the process (to save against unnecessary notarization costs) and reactivate as soon as new transaction activity appears on the asset chain’s network.
There is also a difference in the number of notary nodes required to notarize an asset chain as compared to the KMD main chain. Whereas with the KMD main chain 13 notary nodes are required, only 11 notary nodes are required to notarize an asset chain. This difference is based on the underlying math that ensures that the number of asset chains in the Komodo ecosystem can scale into the tens of thousands.
Naturally, as each level of notarization takes time to perform, there is an additional delay for asset chains as compared to the KMD main chain. An asset chain’s history is notarized into the KMD main chain approximately every ten minutes, assuming constant activity. This notarization will then be pushed through the notarization process into the chosen PoW network (Bitcoin). They estimate that a transaction performed on an asset chain will receive the KMD main chain’s protection within approximately ten minutes, and the Bitcoin hash rate protection in approximately twenty to thirty minutes.
Another difference between the KMD main chain and an asset chain is that the notary nodes only mine the KMD main chain. Asset-chain developers are responsible to create any required network of miners to process the asset chain’s transactions. This does not need to be a full network of mining farms, such as those in Bitcoin. Rather, it only needs to be enough computing power to process transactions, and to provide any desired level of hash-rate security to cover the ten-minute waiting period. For a small business with intermittent periods of transaction activity, a single, dedicated, full-time server may be enough. Larger businesses can scale as desired and can also work to attract a network of freelance miners.
It is also possible that a network of freelance miners will naturally arise within the Komodo ecosystem, to observe and manage transaction-processing services wherever and whenever they are required, through automation.
This setup dramatically reduces the overhead costs and effort the entrepreneur and developer would otherwise have to allocate to a network of high-hashrate miners. These freed resources of the entrepreneur and developer can therefore be allocated to other uses in their business models.
On the other hand, the total cost for the asset chain developer to notarize their independent chain into the KMD main chain is but a fraction of the cost. The details have not yet been finalized, so please check with their team for the most recent information. In general, to notarize into the KMD main chain, the notary nodes require a payment of ~333 KMD for a little over one year’s worth of notarization. They also require ~333 of the entrepreneur’s coin, and any additional startup fees necessary to cover the required ecosystem services (including a block explorer website, developer integration into their multi-coin wallet, etc.).
The payments for notarization services are not designed to generate profit for the notary nodes. Rather, the payments merely cover operating costs for the notarization process. (Recall that each notarization is a transaction, and transactions must have a financial cost.) The notary nodes instead make their profits through their ability to mine the KMD main chain at the dedicated “easy difficulty” level. Thus, an entrepreneur in ecosystem can have their own independent blockchain that is backed up by the hash rate of the Bitcoin mining network, at only a fraction of the cost.
The process of creating a new blockchain in the komodo ecosystem
Formerly, coding and generating the blockchain itself were a most difficult aspect of the development process. Now, the Komodo team has simplified the process into easy steps. Through Komodo’s Iguana Core technology, the entrepreneur can create a new independent blockchain by entering just two simple commands in the command prompt of their computer.
The features of the new asset chain
There are several primary differences between an asset chain and main Komodo chain. For example, asset chain will not automatically generate 5.1% rewards for all wallet addresses holding coins, unlike the main chain. Furthermore, the asset chain’s dPoW consensus mechanism is built to notarize to KMD main chain.
Some of the differences reveal strong advantages held by members of the Komodo ecosystem. By design, this asset chain is capable of automatically adopting any update that the Komodo core development team add to the framework. Asset chain also has a built-in capacity within the framework to allow the entrepreneur to code new rules.
For example, the entrepreneur may decide not to use a PoW consensus mechanism, but may instead prefer PoS. Other changes can also be made, generating and mining the new coins according to the entrepreneur’s imagination and developer knowledge. So long as the new code that the entrepreneur adds to the asset chain does not interfere with the overall framework, the asset chain will smoothly integrate with the rest of the Komodo ecosystem.
This new Komodo asset chain is not a colored-token running on top of a parent blockchain, as is often the case in other blockchain ecosystems (consider the ERC20 token of the Ethereum platform). Instead, this asset chain is an entirely unique and independent blockchain unto itself. This empowers the entrepreneur with significant advantages over other blockchain ecosystems. The asset chain can run on its own nodes, act according to whatever rules the entrepreneur can imagine, and can scale according to its own audience.
Should an asset chain in the Komodo network experience a sudden explosion of activity, the sudden change will not negatively impact the overall Komodo ecosystem. This independence grants a significant competitive advantage in the form of overall security, speed, and ease of use.
BarterDEX
The BarterDEX decentralized exchange creates a competitive method for bartering cryptocurrencies, combining three key components: order matching, trade clearing, and liquidity provision. These components are combined into a single integrated system that allows users to make a request to trade their coins, find a suitable trading partner, and complete the trade using an atomic cross-chain protocol. Additionally, BarterDEX provides a layer of privacy during the order-matching process, enabling two nodes to perform a peer-to-peer atomic swap without any direct IP contact.
The “order matching” component is the process of pairing an end-user’s offer to buy with another end-user’s offer to sell. This component is not the actual trade itself, but is only a digitally created promise between end-users stating that they will perform their parts of the trade. The order-matching process is achieved by algorithms that define how the orders are paired, and in which order they are fulfilled.
After a successful order-matching execution, the next component is the “clearing” aspect of the trade, wherein end-users must fulfill their promises. This is the process wherein the assets are swapped between the trading parties. BarterDEX facilitates this process and assures the safety of the users therein.
Order Matching
The first is the decentralized orderbook. The orderbook is the collection of bids and offers that end-users place on the network. To create their orderbook, BarterDEX creates a custom peer-to-peer network that employs two separate types of nodes: a full-relay node and a non-relay node.
The difference between a full-relay node and a non-relay node is that the former is typically a high-volume trader who provides liquidity to the network in exchange for being a trading hub on the network. This puts him in the position of being able to complete trades more quickly than his trading competitors. The latter type of node (non-relay) is the more common user, who engages with BarterDEX when trading one cryptocurrency for another, given the user’s daily motivations.
There are several incentives encouraging users to become full-relay nodes, as these types of nodes are necessary to build the backbone of the BarterDEX network. One incentive to run a full-relay node is that by being at the center of a wide network of non-relay nodes, the full-relay node has better connectivity and thus a higher chance of being the first to complete a trade.
When limitations do arise in the scaling process, they have various contingencies in place, one of which is the creation of clusters. It is possible to create clusters of BarterDEX nodes that are separate from other clusters on the network. To achieve this, when one cluster approaches a level of user load that is overcapacity, users can opt to seed a new cluster by creating an independent set of seed nodes. This feature amplifies the scalability of the BarterDEX network, as it allows clusters of users to form in accordance with user desires. It is assumed that at large scales there will be sufficient inventory in the orderbooks for clusters to provide ample asset liquidity, especially if the act of partitioning into a new cluster is based on trading a coin that is overcrowded.
An Introduction to Jumblr
Jumblr technology solves privacy issues through a two-layered approach, relying on connected technologies in the Komodo ecosystem — BarterDEX, their native Komodo coin (KMD), and the upstream Zcash parameters. The Jumblr process is managed locally on the user’s machine and requires no third parties, human coordination, or other mixing services.
KMD Began as a Fork of Zcash
This coin began as a fork of the popular privacy coin, Zcash. As such, KMD retains the same inherent privacy features. Notable among these features are the Zcash parameters and zk-SNARK technology. These enable users to move funds on a public blockchain without leaving a data trail for later analysis.
This is one of the most powerful forms of blockchain privacy in existence, as the provided privacy is effectively permanent. The Zcash parameters and zk-SNARK technology provide the initial foundation for users to take transparent KMD funding and make it anonymous (with the assistance of Komodo’s Jumblr technology) without leaving behind a cryptocurrency trail. The Zcash project itself is a fork of Bitcoin. Thus, all the features designed by Satoshi Nakamoto in the Bitcoin protocol are also available in Komodo.
The Jumblr process
Jumblr enables users to anonymize their funds. The Jumblr process is rooted in their native Komodo coin (KMD), and the privacy features can extend thereby to any blockchain project connected to the Komodo ecosystem.
At its most simple level, Jumblr takes non-private KMD funds from a transparent (non-private) address, moves the funds through a series of private and non-traceable zk-SNARK addresses — which disconnects the currency trail and anonymizes the funds — and then returns the funds to a new transparent address of the user’s choosing.
The entirety of the anonymization process is conducted through the user’s local machines, with one exception — that of sending the data to the network for mining. Therefore, Jumblr eliminates many dangers, including the issues of theft, human error, the disclosure of user privacy through human coordination and unraveling of privacy by ever-increasing nature of computer processing power.
- The First Step of the Jumblr Anonymization Process
Moving the funds from a transparent address to a privacy-enabled address. T → Z
Naturally, as the T address is fully public, an outside observer can see the funds as they leave for the respective Z address. Therefore, to fully disconnect the currency trail, Jumblr then moves the funds from the initial Z address to yet another Z address. Jumblr creates a new Z address for each individual lot. - The Second Step of the Jumblr Anonymization Process Moving the funds from one unique and untraceable Z address to another Z → Z
Through the technology of the Zcash parameters, zk-SNARKs, and Jumblr, the specific whereabouts of the funds are known only to the user. The user does not need to follow the movements of T → Z and Z → Z. - The Third and Final Step of the Jumblr Anonymization Process
Moving the funds from one unique and untraceable Z address to another Z → T
Jumblr’s Process of Breaking Down Funds
The method by which Jumblr breaks down and processes the funds provides yet another layer of privacy. Jumblr begins by taking the total amount in the <KMDaddress> and, if necessary, splitting it until the largest quantities are all equal to ~7770 KMD. It then breaks down the remainder into quantities of ~100 KMD, and then the remainder thereafter into quantities of ~10 KMD. Any final remainder (which would be anything less than ~10 KMD) is ignored. Note that Jumblr also automatically extracts its 0.3% overall fee during the Jumblr process.
Therefore, the total amount is broken down into lot sizes of ~7770 KMD, ~100
KMD, and ~10 KMD.
Also there is a really good post made by Komodo, which outlines their previous milestones and achievements. Also Komodo is now adding smart contract oracles to their platform.
Team
The Komodo project is based on anonymity, so many of the Komodo team members initially chose not to reveal their identity. Their website lists the team — about 40 people, quite a big group — but not many people list their full name and it’s not the CEO or CTO. The founder and lead developer of Komodo goes by the moniker JL777, which has recently been updated to James ‘JL777’ Lee. The general manager and CTO of the project was known as CA333, but now he is known as Kadan Stadelmann. This increased transparency has come about as Komodo grows in size and scope and is attracting more investors.
Komodo Team Linkedin page.
Management:
James ‘JL777’ Lee — Lead Developer (Founder).
He is the lead developer of Komodo Platform, a leader in Privacy, Decentralization, and Development with a market cap of over $500 Million. He is a strong advocate of privacy and liberty in its true essence. He is the pioneer of decentralized ICOs (dICO) which he developed to curb “whale manipulation” within crowd sales. His brainchild is BarterDEX, a fully functional decentralized exchange, powered by atomic swaps and electrum servers. He also developed the Komodo privacy coin using zk-snarks and Jumblr for anonymity, and innovated dPOW (delayed Proof of Work) which gives Bitcoin security to Komodo. Also he is Utrum’s Blockchain Advisor.
ca333 (Kadan Stadelmann) — Chief Technology Officer.
Stadelmann attended the University of Hagen where he studied for a Bachelor of Science degree in Computer and Information Systems. He then went on to study for a Bachelor of Science degree at the University of Vienna before studying Technical Informatics and Scientific Computing at TU Wien. Stadelmann worked as a Senior Software Engineer at TOTH IT Solutions (2009–2011). He also co-founded SatoshiHack (2011–2013). Stadelmann then worked as a Senior IT Security Analyst for the Tunisian government (2013–2014) before becoming IT Project Leader and Software Developer for the Austrian government. Stadelmann became CTO of Komodo in September 2016.
Ben Fairbank — General Manager.
Ben Fairbank has over 20 years of global experience in the Telecommunications, Customer Experience and Contact Centre industry and more than 12 years experience in Senior Management. He is experienced in UK, Asia Pacific, Middle East and South African markets. He is proven CEO and C level Executive. His specialties: Customer Experience to drive customer growth and organization profitability, Telecommunications, Contact Centre, KYC and BPO Operations and Strategy, Contact Centre restructures and Outsource Transitions, Greenfields Projects. Education: Temple College.
Steve Lee — Chief Marketing Officer.
Previously Steve Lee worked for Hewlett Packard Enterprise as Executive Content and Messaging Strategist (2015–2018), for Synopsys as Executive and Corporate Communications Manager (2014), for HGST — a Western Digital Company — WW Sales Enablement (2013–2014) and for GFusion.io as Product Manager (2013). Education: University of California, Davis.
Saddam Hossain — QA/Support Manager.
Developers:
- Mihail Fedorov — Sysadmin / IT Expert.
- Artem Pikulin — Senior Software Developer (Solidity/C/C++).
- Pbca26 — Frontend Developer.
- Satinder Grewal — Frontend Developer.
- Decker — IT Expert / Sysengineer.
- Rick Bird — Developer / Global IT Expert.
- Libscott — Core Developer.
- Radix42 — Core Developer.
Administration and Support:
- Alice — Event Manager / Administration.
- Christopher (Mylo) Mylonas — Engineering Consultant & Workspace Manager.
- Julio Soares — Head Of HR.
- Cipi — Senior Test Engineer.
- Nabob — Software Tester.
- Luis Garcia — System Administrator.
- Angelina — Support Leader.
- Hermes — Support Agent.
- Geforce — Support Agent.
Brand and Marketing:
- Audo Kowitz — Marketing Manager.
- Glen Pearce — SMM & Market Strategist.
- Jason Brown — Business Development.
- Daniel Pigeon — Technical Writer.
- Ben O’hanlon — Social Media Expert.
- Chris Van Maarseveen (Diesmaster) — Junior Marketing Manager.
- Charis (Bob) Rafailidis — Market Research Analyst.
- Davion Ziere — Global Creative Strategist & Writer.
- Bryan Matthews — Video & Motion GFXManager.
Ambassadors and Advisors:
- Beor — Spanish Ambassador.
- Dk — Russian Ambassador.
- Soopnon — Chinese Ambassador.
- Goldenman — Korean Ambassador.
- Pondsea — Ambassador.
- TwinWinNerD — Ambassador.
- Yassin — Ambassador.
- Dominic W — IT Opsec Trainee
Partnerships
On the 8th of March announced their first partnership with BlocNATION. Its BLOC Token will be used to unlock crypto-payment capabilities for PouchNATION, Southeast Asia’s leading cashless payment community of events and venues. More information can be found here.
On the 13th of March announced partnership with PantosIO. The announcement can be found here.
On the 15th of March, Peer2group announced partnership with Komodo. Peer2.group recently agreed to distribute 10% of its Peer2.fund tokens, which will aim to be released before summer 2018 backed by a legal entity, for an undisclosed amount. Peer2.fund is a cryptocurrency fund supported by a legal entity, which will get income from all Peer2.group business projects. Peer2.fund will have its token released before summer 2018. More information can be found here.
On the 26th of March, the team at Populous have announced an exclusive partnership with the decentralised platform, Komodo. The strategic partnership seals an agreement, securing Populous to be the only invoice discounting platform that Komodo will collaborate with. No other invoice factoring, discounting and financing related platforms or companies will enter into a partnership or agreement with Komodo. Populous and Komodo will work together, to integrate atomic swaps between tokens and other cryptocurrencies on Populous’ Beta live platform. More information can be found here.
On the 27th of March, Komodo Platform announced partnership with Beijing-Based Venture Capital Fund ValueNet Capital. Komodo Platform, a blockchain industry leader and pioneer of the innovative atomic swap technology, is entering a strategic partnership agreement with ValueNet Capital, a venture capital fund based in Beijing. Leaders from both organizations are hailing the partnership as an exciting opportunity, despite months of bearish trends in cryptocurrency markets. The strategic partnership agreement between Komodo Platform and ValueNet Capital begins on March 23, 2018 and is effective until both parties consent to termination of the agreement. More information can be found here.
Monaize, an e-banking platform for freelancers and small businesses formed a partnership with Komodo, a top 30 cryptocurrency project, after meeting at Money 20/20 in June 2017. The objective of the partnership is to connect the banking world with blockchain technology while helping cryptocurrencies reach global adoption. Monaize-Komodo Partnership results in the world’s first decentralized Initial Coin Offering (dICO). More information can be found here.
On the 23rd of August, Komodo Platform and Ideas By Nature announced their partnership. Ideas By Nature is a blockchain-focused design, product strategy, and application development agency based in Denver, Colorado. More information can be found here.
List of dICO’s https://dexstats.info/dico.php
Use case
dICO
The Komodo ecosystem presents the decentralized the initial coin offering (dICO), that solves known issues and even adds new possibilities to the cryptocurrency market. The decentralized nature of the dICO enables the entrepreneur to release a blockchain product beyond the reach of a malicious third-party influencer. Furthermore, through the decentralized exchange, BarterDEX, the dICO allows an entrepreneur to release their product in a manner that mitigates and even eliminates many of the issues regarding whales, hackers, and human error. With the advantage of Komodo’s privacy technology, Jumblr, the participants in a dICO are empowered with their right to barter in private.
BarterDEX
Komodo’s decentralized exchange, BarterDEX, allows people to trade cryptocurrency coins without a counterparty risk. The protocol is open-source and trading is available for any coin that any developers choose to connect to BarterDEX. The parent project, Komodo, freely provides BarterDEX technology through open-source philosophy. Their service fully realizes decentralized order matching, trade clearing, and settlement. The order-matching aspect uses a low-level pubkey-to-pubkey messaging protocol, and the final settlement is executed through an atomic cross-chain protocol.
Jumblr
Jumblr is a Komodo technology that enables users to anonymize their cryptocurrencies. At its foundational level, Jumblr takes non-private funds from a transparent (non-private) address, moves the funds through a series of private and non-traceable zk-SNARK addresses — which disconnects the currency trail and anonymizes the funds — and then returns the funds to a new transparent address of the user’s choosing.
Through a connected Komodo technology, BarterDEX, Jumblr can provide this service not only for Komodo’s native coin, KMD, but also for any cryptocurrency connected to the Komodo ecosystem.
Social metrics
Markets and volumes
Information from Coinlib.io:
TA
On the daily chart the classic ABC correction is visible
While macd shows a huge divergence since March
Weekly chart shows the same picture. The MACD trend indicates the beginning of a bull market
Competitors
Other platforms for consumer Dapps: ETH, EOS, Cardano, Quantum, Lisk, RChain, GXChain, Nuls, Orbs, OST. Moreover, with its new interoperability features Komodo can successfully compete with ICON, Wanchain, Fusion and others.
Roadmap
Over the last two months, Komodo Platform made several major announcements about new tech developments, such as scalability and interoperability features, that will be added to the Komodo code base in the coming months. These new features represent The Evolution of Komodo. It’s a huge step forward for Komodo Platform’s capabilities. To accompany these Komodo 2.0 technology improvements, Komodo is working hard on a full marketing rebrand and a clear business strategy.
Technical Roadmap
Marketing Roadmap (outdated)
Token Mechanics
The foundational coin of the Komodo ecosystem is named after the ecosystem itself, Komodo (KMD). KMD is the native cryptocurrency for Jumblr. All other cryptocurrencies in the Komodo ecosystem that seek to utilize Jumblr’s privacy must first be traded on BarterDEX for KMD. After the privacy process is complete, the users then exchange KMD on BarterDEX for their desired cryptocurrency. KMD is also the fuel for their smart-contract technology, and MoM smart contracts store their data in the KMD main chain.
Furthermore, those who hold KMD may earn rewards of up to 5.1% annually. Any wallet address that holds at least 10 KMD is eligible. KMD holders must simply move their KMD once a month — even if the funds are sent back to the same address from which they originated — in order to earn their reward. This reward is built into the core code of Komodo.
The reward comes from an opportunity provided by their unique security system, dPoW. The nature of the reward is rooted in the financial incentive that is typically given to miners on a normal PoW chain. On a normal PoW, when a miner mines a new block, the blockchain mints new coins and delivers them to the miner’s indicated wallet. For instance, on the Bitcoin blockchain, the reward for mining a new block is currently ~12.5 BTC. In dPoW, they do not need to allocate such a high incentive to miners, as they already maintain access to the hash rate of their chosen PoW network, Bitcoin. Therefore, when they created the KMD main chain, they recoded this coin-minting reward to distribute 5.1% annual rewards to all holders of at least 10 KMD.
To earn rewards in the full amount of 5.1%, users must move their funds on the blockchain at least once per month. The reward is calculated as a part of the UTXO transfer process (see Part III of this paper for details on UTXOs). The KMD code only calculates rewards for UTXOs up to one month, and then stops. By simply sending the full balance of a wallet to the same receiving address, a user can generate a new UTXO. In this manner, the user can claim their current rewards, and continue receiving them for at least one month.
The KMD 5.1% reward will continue for a period of approximately twelve to fourteen years. When Komodo’s overall coin supply reaches ~200M, this reward will also discontinue. Specifically, the reward will cease when the KMD chain reaches a block height of 7777777. It is important to note that no one is forced into using KMD in their ecosystem. they are often asked why they chose this route, as the free nature of the Komodo ecosystem can be in direct contrast to the philosophies of many other ecosystems and exchanges.
Token Metrics
Circulating supply ~110 000 000 KMD
Total Coin Supply (yr. 2030): ~200 000 000 KMD
100 million tokens pre-mined initially.
90% of them are offered in the ICO
10% will go to developers, advisors, and bounties.
Summary
Team: hard to evaluate since project is open sourced
Idea: they try to be as up-to-date as possible
Development stage: mainnet with privacy, asset chain creation and basic interoperability features
Whitepaper: good, easy to understand, outlines most of the project’s features
Roadmap: no clear roadmap for 2019 and no marketing roadmap yet, but it’s early to draw conclusions since Komodo 2.0 with new goals both on marketing and business side will be presented publicly in the near future
Personally, I really like this project, it has privacy, interoperability, really good security, DEX, state-of-the-art ICO platform, wallet which can support almost all cryptocurrencies. The only thing this project lacks is a good marketing strategy. It’s no wonder that this is their main concern now, and they are enthusiastically tackle this problem. It will be interesting to see how far this project will get with active marketing program.
IMO this is one of the most technologically advanced project, they try to be up-to-date with most of the features seen in crypto world. They launched ICO, made quite modest sum of money ($~2 mill) and loaded Komodo with enormous number of features. The only thing they need now is mass adoption, they need to increase their community and encourage new companies to launch dICOs on Komodo as well as create asset chains for existing businesses. It is also not clear yet what smart contract privacy features Komodo platform provides and if one can use assets from other blockchains, for example, both BTC and ERC-20 tokens, in a single smart contracts.
