Hello to the growing Komodo community and everyone interested in Komodo’s multi-chain architecture! It’s our second April update on Komodo!
What have the talented Komodo team been up to recently? You’ll find it out in this fresh report on the recent network’s development! Let’s kick off this journey together!
The Komodo developers are working unceasingly to make Komodo better and stand out from the competitors!
CoinTelegraph has published an article about KMD’s price. In the past 28 days the KMD coin price increased 102% against the dollar, while many larger cap cryptocurrencies struggled for momentum.
The AtomicDEX beta continues and the Komodo developers have released version 0.214 for Android and iOS. AtomicDEX allows people to freely and safely exchange cryptocurrency coins from one person to another. The order-matching aspect relies on a peer-to-peer network to build public orderbooks, and trade clearing is executed through an atomic cross-chain protocol, also called an “atomic swap.” AtomicDEX does not require users to send funds to either a centralized or decentralized party during the trading process. Users maintain full control over the private keys of their funds at all times.
Komodo’s Fourth Annual Notary Node Elections started! A snapshot of the KMD blockchain was taken on April 12th to distribute the VOTE tokens. Everyone in possession of their private keys was credited with the VOTE tokens on April 13th. The voting period will last until May 4, 2020. You can cast your ballots by sending the VOTE tokens to the address(es) of your preferred candidate(s). Good luck to all the participants!
Komodo CTO Kadan Stadelmann got interviewed by BLOCKTVnews. He describes Komodo’s technology, explains the differences between centralized and decentralized exchanges, and how AtomicDEX is changing the rules of the game. Yoc can find the link to the interview further in the article.
Last but not least! Komodo’s Technical Marketing Manager, Torsten Sándor, is back with another explainer video. Sándor explains the differences between centralized exchanges (Binance, etc), decentralized smart contract exchanges (like IDEX), smart contract-based instant swaps (think Uniswap), and Komodo’s atomic swaps.
More news to follow! Stay in the loop!
Development
GitHub metrics:
Developer activity (from Coinlib.io):
The Komodo developers are working every day to make Komodo better and stand out from the competitors.
Here is a small summary of the active developers on the codebase.
In the last 7 days — 9
In the last 1 month — 31
In the last 3 months — 61
In the last 6 month — 66
In the last 1 year — 100
A detailed view of the activity of the different repositories can be found here.
https://coincodecap.com/project/KMD
The AtomicDEX beta continues and the Komodo developers have released version 0.214 for Android and iOS.
The new version contains the following changes.
- Added KOIN
- Added VOTE2020
- Added SUPERNET
- Various bug fixes and improvements
- Updated UX/UI
- Added real-time swap details
- Updated DEX core
Download AtomicDEX for Android on Google Play here.
Download AtomicDEX for iOS through Test Flight here.
New explainer video: centralized exchanges, decentralized exchanges, and atomic swaps
Komodo’s Technical Marketing Manager, Torsten Sándor, is back with another explainer video.
Sándor explains the differences between centralized exchanges (Binance, etc), decentralized smart contract exchanges (like IDEX), smart contract-based instant swaps (think Uniswap), and Komodo’s atomic swaps. All of them have advantages and disadvantages. But Sándor think that after years of research, atomic swaps are finally ready for prime time!
Enjoy!
Convert Private Key To Bitcoin Private Key
April 21, 2020 by iKomodo Mylo
Most multicoin lite wallets can be used to enter a seed phrase or a private key for a coin and be used for different coins. Sometimes, a new wallet will come out and offer features that you may want to try out. The wallet supports a private key for one type of coin for example, like bitcoin.
In the discord mining channel, it was asked:
is there a tool to get out of a komodo private key a BTC private key?
Komodo team member Poly suggested to extract the key from a lite wallet, like what Verus Desktop & Chameleon Pay can do. Proof-of-Stake expert and LABS maintainer Alright from the Komodo team offered a python script for doing the task. It is included in the gist here.
More details can be found in this article
Blockchain Fundamentals by Komodo Platform
Komodo continued with its Blockchain Fundamentals series. Choose one of the articles below:
Scrypt: An Overview & Guide of the Scrypt Algorithm
What’s A Digital Signature? A Guide To How Digital Signatures Work
Asymmetric Encryption: An Introduction To Asymmetric Cryptography
Distributed Ledger Technology: An Overview of DLT Systems
Decentralized Finance (DeFi): An Overview of the DeFi Space
What is Proof of Stake? An Overview of PoS Blockchains
Blockchain Consensus Protocols: Rules For Decentralized Agreement
ERC-721: An Intro to the ERC721 Token Standard
Non-Fungible Tokens: An Intro To NFTs & NFT Use Cases
P2PK: Pay To Pubkey Transactions Explained
P2SH: Pay To Script Hash Transactions Explained
P2PKH: Pay To Pubkey Hash Transactions Explained
Bitcoin Script: An Introduction For Beginners
Bitcoin Private Key: An Easy-To-Understand Overview
7 Blockchain Use Cases Primed For Serious Growth In 2020
DeFi Is Now A $600 Million Industry & It’s Expected To Keep Growing
Finance
Source: DexStats
Komodo’s Fourth Annual Notary Node Elections have officially started!!!!!
A snapshot of the KMD blockchain was taken on April 12th to distribute the VOTE tokens. Everyone in possession of their private keys was credited with the VOTE tokens on April 13th.
The voting period will last until May 4, 2020. You can cast your ballots by sending the VOTE tokens to the address(es) of your preferred candidate(s).
A list of all candidates can be found here.
Important dates for Season 4:
Season 4 Election end: May 4th 2020, 12pm UTC
Public Komodo update announcement: May 11th, 2020
dPoW season 4 start: June 14th, 2020
To find out more information about Cross-Chain Notarizations, the Limitations Of Notary Node Capabilities, please, read the article on Komodo website and go to Komodo Github.
Check out the Notary Node Election Bible for more election rules.
CoinTelegraph has published an article about KMD’s price
Komodo (KMD), saw 102% growth against the dollar over the past month, after plunging 75% one month previous
In the past 28 days the KMD coin price increased 102% against the dollar, while many larger cap cryptocurrencies struggled for momentum.
From a coin price of $0.239453 on March 16, the value of Komodo climbed to a peak of $0.485010 on April 14 — a 102% increase.
In the previous month the coin price drop by over 75% from February’s high of $0.920051.
Komodo Micro Bounty Campaign
Every Monday, Wednesday, and Friday Komodo will share a Google form/Gleam campaign through their social media channels and you will have 24h time to participate and complete the tasks. After 24h the team will analyze the results and draw the winner and announce through the social media channels.
The prize will depend on the difficulty of the quiz.
For questions that are easy to solve, you can win 7.77 KMD. For questions with a medium difficulty level, you can win 20 KMD. For tricky questions, you can win 30 KMD.
They will announce the difficulty level and the prize at the time of the announcement of the lucky winner.
The team are going to improve the Micro Bounty Campaign with different prizes and their creative ideas.
Join the discussion on the Community Portal and bring forth your own ideas and suggestions.
With this campaign, they want to increase awareness and highlight Komodo’s unique features playfully.
Atomic Swap Technology: Towards Friction-Less Trading
Atomic swaps are trustless peer-to-peer exchanges of digital assets from one user to the other, without any middleman or intermediary. Atomic swap trading is magnitudes more secure than trading crypto on a centralized exchange, as users never need to give up control over their assets.
Direct Value Exchange
Komodo’s AtomicDEX application allows peer-to-peer atomic swaps, making trading easier and more accessible than ever.
- Non-Custodial Trading: Traders always control their private keys and their funds while making trades.
- Mobile Ready: AtomicDEX is available for both Android and iOS, enabling mobile P2P swaps.
- Unrestricted Trading Pairs: Direct trading pairs exist between any two assets listed on AtomicDEX.
- Minimal Fees: The trader who takes an offer pays 0.13% of the trade’s value. Makers pay no fees.
- Instant Order Matching: When two traders agree upon a trade, the orders are matched instantaneously.
- No Deposits & Withdrawals: Trading occurs within the wallet. No need to make deposits or withdrawals.
- Asset Agnostic: Komodo’s AtomicDEX framework supports over 99% of all coins and tokens.
An Open, Industry-Wide Atomic Swap Framework
Komodo’s AtomicDEX framework is available to all existing blockchain projects, digital asset exchanges, wallet providers, and new blockchain startups.
- Liquidity Multipliers: Liquidity providers can place several orders with the same funds, multiplying liquidity.
- Free integration: the vision is to support all coins and tokens
- Shared Liquidity Pool: All projects that adopt AtomicDEX share liquidity, promoting the network effect and encouraging adoption.
- Open API: Any existing exchange, wallet provider, or blockchain project can integrate for free.
- An Open Standards Effort: AtomicDEX is an open standards effort to promote mass adoption of blockchain technology.
AtomicDEX Objectives & Roadmap 2020
- Launch Reference Applications: Launch release candidate for mobile and beta versions of Desktop and WASM web applications.
- Full Production API Rollout: Planned release following mobile release candidate, which will enable 3rd party integrations and custom soluions.
- New Features and Integrations: UX/UI overhaul, gift card off-ramp, fiat gateways, instance exchange support, shielded transactions, + more
Reference Applications
Atomic swap technology is used to build a new reference product where a secure wallet and non-custodial decentralized exchange are rolled into one application. You maintain control over your privatekeys at all times.
With the beta software you can start making atomic swaps today.
AtomicDEX Mobile
Available for Android and iOS. Get it today and make your first swap! Note that the application is in beta and should be considered as experimental technology.
- Status: Beta release publicly available.
- Learn More: Learn more on atomicdex.io
AtomicDEX Browser
AtomicDEX running in a browser. It is a standalone WASM web app without external dependencies.
- Status: Ongoing Development and Testing
AtomicDEX OTC
A special version of AtomicDEX mobile with pubkey whitelisting feature to enable OTC swaps. API refactoring is a prerequisite.
- Status: PoC Development and Testing to begin in April
Development Team
- Kadan Stadelmann — Chief Technology Officer
- James Lee — Core Developer, Founder
- Artem Pikulin — Senior Software Developer
- Artem Grinblat — Senior Software Developer & DEX Engineer
- Yuri Khiznichenko — Full Stack Developer & Frontend Engineer
- Mateus Rodrigues Costa — Full Stack Developer & Frontend Expert
- Tolga Ay (Naezith) — Developer & Blockchain Architect
- Roman Sztergbaum — Software Developer & Blockchain Architect
Resources
The Decentralized Orderbook
The first component of AtomicDEX is Order Matching. This is the process of pairing a user’s offer to buy with another user’s offer to sell. The data of these offers form an orderbook.
The process of matching orders is not the actual trade itself, but is only a digitally created promise between users stating that they will perform their parts of the trade.
AtomicDEX features several technologies to facilitate order matching, including a peer-to-peer network, a decentralized orderbook, and a multicoin passphrase.
Order Matching with Full-Relay and Non-Relay Nodes
To create a decentralized orderbook, AtomicDEX creates a custom peer-to-peer (P2P) network.
In this network, when a node places an order, other nodes on the network collaborate to distribute the data until all nodes are informed. Each node utilizes the data to build the orderbook locally. No centralized server is required.
To manage this P2P network, AtomicDEX utilizes 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 the trader in the position of being able to complete trades more quickly than their competitors.
The latter type of node (non-relay) is the more common user, and these nodes rely on the full-relay nodes. A non-relay node has all the same available trading options. We expect that most nodes joining the network will be non-relay nodes.
There are no requirements or payments necessary to become either type of node, and so anyone desiring to become a high-volume full-relay node will find no restrictions.
One Passphrase, Many Addresses
As a part of order matching, AtomicDEX features a specialty wallet that can manage and trade among a multiplicity of different blockchain coins. In this technology, the user creates a single passphrase and uses this to unlock all public addresses associated with their desired coins.
The complexities of this process are managed by Komodo’s Iguana Core technology.
Delayed Proof of Work
Komodo’s delayed Proof of Work (dPoW) security is a secondary consensus mechanism that recycles the giant hash rate of the Bitcoin network through a series of cross-chain notarizations.
Social encounters
KOMODO’S ATOMICDEX IS CHANGING THE RULES OF THE GAME
Komodo CTO Kadan Stadelmann got interviewed by @BLOCKTVnews.
He describes Komodo’s technology, explains the differences between centralized and decentralized exchanges, and how AtomicDEX is changing the rules of the game.
Roadmap
See Komodo’s technical roadmap is here
There are 3 primary areas of focus for the Komodo Team in 2020: Komodo Core, Antara Framework, and AtomicDEX.
Partnerships and team members
Don’t miss a splendid opportunity to become a member of Komodo’s progressive team!
Follow updates on the official site of the Komodo Platform
Ecosystem
Hush Coin
- Hush is an implementation of the Zcash protocol with custom additions, offering a high standard of privacy preserving confidentiality of transaction metadata.
- Hush Messenger and HushList are state of the art private communications leveraging zkSNARKS technology.
- Using dPoW (delayed Proof of Work), making blockchains much more secure and attack resistant at 51%.
- Hush is often one of the most profitable EquiHash coins to mine. Mining is possible with GPU and ASICs. For help, join us on the ‘Mining’ channel of Discord or connect to a pool.
VerusCoin
- Verus uses VerusHash 2.1, a new cryptographic hash algorithm allowing mining with x64 CPUs while equalizing GPUs and offering a credible ASIC solution.
- With provable 51% hash attack immunity, Verus’ 50% proof of work/50% proof of stake consensus algorithm provides unprecedented blockchain security.
- Verus leverages zk-SNARK zero-knowledge proofs in a modified Zcash Sapling fork for optional private addresses that are completely opaque to the outside world.
PirateChain
PirateChain (ARRR) is a 100% private send cryptocurrency. It uses a privacy protocol that cannot be compromised by other users activity on the network. Most privacy coins are riddled with holes created by optional privacy. PirateChain uses ZK-Snarks to shield 100% of the peer to peer transactions on the blockchain making for highly anonymous and private transactions.
KMDLabs
KMDLabs finds its origins in the testing conducted on the PoS64 staking algorithm created by jl777 for staking on KMD assetchains.
This algorithm was tested and improved by jl777 and the members of this PoS64 test group. From these experiments the need for a state of the art, dedicated testing platform became very clear.
Testing expanded its scope and STAKED was born. STAKED furthered its experience with incentivized testing while developing and refining the STAKED software over various cluster networks through its seven iterations.
Pungo
Pungo offers an open source blockchain wallet along with a whole set of modules & services attached to it which give users a complete blockchain experience.
Utrum
Utrum is a decentralized platform providing reputation-based and quality-curated Crypto Reviews, Insights, and Market Predictions for cryptocurrency investors and newbies.
Utrum brings together the best of both traditional business and agile crypto models, forming a platform which operates as “Freemium.” It is a revolutionary approach in which the platforms shares revenue with the user community. Utrum’s $OOT is the utility token powering this community.
Einsteinium
The Einsteinium Foundation’s mission is utilize blockchain technology to generate funds for scientific research.
There are two ways this is accomplished. The first is through a mining tax which creates a pool of funds providing grants to deserving applicants. The second is maintaining a currency which allows for a more transparent and trustful way to support causes. Einsteinium coin is designed to reduce waste and eradicate corruption where it is needed most: charity and politics.
The Einsteinium blockchain is secured by Komodo’s Delayed Proof-of-Work security service.
GameCredits
GameCredits (GAME) is a digital currency based on blockchain. Its purpose is to become a universal currency for 2.6 billion gamers worldwide, to empower both large and small game developers in order to further propel the 100 billion dollar gaming industry, and to accelerate the wide adoption of decentralized cryptocurrencies as a better alternative to government-issued fiats.
GameCredits is secured by Komodo’s Delayed Proof-of-Work security service.
Social media metrics
Social media activity:
The graph above shows the dynamics of changes in the number of Komodo Reddit subscribers, Twitter followers, and Facebook likes. The information is taken from Coingecko.com.
This is not financial advice.
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