Komodo: Make Your Own Blockchain In Just Minutes, AtomicDEX, Rebranding
Biweekly update 5th July — 19th July
Hi, everyone. We are glad to see you again. We are back with a few excellent news about Komodo Platform, a solution to create own blockchains.
First of all, we are happy to say that Antara Framework is live on the Mainnet. If you don’t know what it is, we’re going to introduce you. This web application lets anyone customize and launch a Smart Chain, complete with full seed nodes and mining nodes, in a few minutes. Yes, we know it is an excellent opportunity for everyone to create your chain and start making the world better. There are so many features we like the most. For instance, with 18 different parameters, you can customize your Smart Chain in hundreds of millions of different ways, and you can activate the modules you need and start building (Assets, Oracle, Faucet, Price Feeds, Gateway, Stablecoins, Channels, Rewards). Even if you are not a professional coder, you can configure all the parameters you want to set, ranging from pre-mine supply to block rewards.
Second, we hope you remember AtomicDEX, the third generation of Komodo’s decentralized exchange technology. And there is a piece of excellent news about it. Registration for the first round of the AtomicDEX beta was a huge success! One thousand people signed up and are ready to test. Sign-ups for the second round of the AtomicDEX beta are now open. So if you are interested in Atomic Swaps, you should sign up and try it.
Third, Komodo did a rebrand. The new Komodo website is now online featuring Komodo’s new visual identity, messaging, and user journeys.
To sum up, we are proud of these guys and their progress. We are grateful to the contribution to the development of the crypto community, and we are looking forward to the next step forward.
Developer activity (from Coinlib.io):
The Komodo Team is pleased to announce that the Antara Framework is now available on the Komodo mainnet! Along with the Antara Framework going live, several other new features and events have been released.
The Antara Smart Chain Composer beta is now publicly available. This web application lets anyone customize and launch a Smart Chain, complete with full seed nodes and mining nodes, in just minutes.
From this point forward, you are able to create your own blockchain in a few minutes!
As you can see, even if you are not a professional coder, you can configure all the parametres you want to set, ranging from pre-mine supply to block rewards.
According to Komodo, The Antara framework is built atop Komodo’s innovative multi-chain architecture that enables the generation of independent runtime forks of the KMD blockchain. And there are several advantages:
- Sovereign — Each independent chain has its own consensus rules, hashing algorithm, decentralized network, and coin.
- Independent — Blockchains launched with Komodo’s technology never depend on the KMD chain, network, or platform. It’s an open ecosystem so there is no vendor lock-in.
- Permissionless — Creating a chain from the CLI is permissionless and free. The Komodo team is not informed when a chain is created so there’s no way to track a chain after launch.
Furthermore, Antara Framework allows us to create smart-chain, which is:
- Autonomous — Smart Chains have their own networks, consensus mechanisms, and currencies. Each third-party project has complete autonomy over their Smart Chain’s development.
- Purpose-Built — Customize your Smart Chain along 18 different parameters to meet your unique needs. Don’t mold your business to fit a blockchain, mold your Smart Chain to perfectly fit your business.
- Modular — Smart Chains come with a built-in library of consensus-altering modules that allow you to natively host blockchain-based games, applications, and contracts on your Smart Chain’s own network.
Moreover, Antara Smart Chains Are Fully Customizable. With 18 different parameters, they can be customized in hundreds of millions of different ways.
- Name — Choose your project’s ticker.
- Block Time — Amount of time that passes between block generations on your chain.
- Pre-Mine Supply — Number of coins created in your chain’s genesis block.
- Consensus Rules — Proof of Work, Proof of Stake, or any combination of the two.
- Block Rewards — Number of coins awarded to a miner or staker for finding a block.
- Privacy Settings — Choose from disabled, optional, or mandatory privacy features.
- Block Halvings — Number of blocks between reductions in block rewards.
- Block Decay — Percentage by which block rewards decrease at each reduction.
- Reward Eras — Make 3 block reward eras to fully customize emission schedule.
Of course, Antara Framework has a lot of built-in libraries. Each Smart Chain comes with a library of Antara Modules. You can activate the modules you need and start building:
- Assets — Create fixed-supply tokens hosted natively on your Smart Chain
- Oracle — A data aggregation oracle to bring off-chain data onto your Smart Chain
- Faucet — An automated crypto faucet with built-in spam prevention measures
- Price Feeds — A completely trustless and decentralized price feed module
- Gateway — Build gateways between your Smart Chain and external blockchains
- Stablecoins — Use this module for an algorithmic stable coin solution on your Smart Chain
- Channels — Use this module to allow instantaneous micro-payments of digital assets
- Rewards — Reward users to lock away their coins for a set period of time
- Heir — Designate a crypto heir and set the conditions for the release of funds
Registration for the first round of the AtomicDEX beta was a huge success! 1000 people signed up and are ready to test. Sign-ups for the second round of the AtomicDEX beta are now open.
If you don’t know what it is, we will give you a quick introduction.
AtomicDEX is the third generation of Komodo’s decentralized exchange technology. BarterDEX, Komodo’s previous DEX, is now officially retired. Agama Wallet, the multi-coin wallet that Komodo used for the last several years, is now being developed by the extremely talented team at Verus Coin.
Komodo donated the Agama product line to the Verus Coin team as a sign of gratitude for Verus’s outstanding development efforts, continued support of Komodo, and efforts to foster a strong and collaborative blockchain ecosystem.
Komodo is now focusing development efforts exclusively on AtomicDEX, which acts as both a multi-coin wallet and a fully decentralized trading platform. For now, AtomicDEX beta allows you to store 13 different coins and tokens and, if you choose, to trade from within your wallet. AtomicDEX can technically support over 99 percent of all assets including Bitcoin, all UTXO-based coins, Ether and ERC-20 tokens, and any coin that supports time- and hash-locked payments. More assets will be listed with every new release.
AtomicDEX uses a new order-matching system that increases the security, stability, and simplicity of trading digital assets.
In 2018 alone, experts estimate that hackers stole somewhere between $950 Million and a cool $1 Billion from centralized exchanges. Since exchanges hold massive amounts of users’ wealth in a few centralized, extremely high-value wallets, they are the perfect target for malicious hackers.
If an exchange gets hacked and is forced into bankruptcy, all of the users who held funds on that exchange have no recourse. Their funds are gone forever and there is no way to recoup their losses.
Decentralization is the solution. Powered by blockchain industry’s most advanced atomic swap technology, AtomicDEX allows direct peer-to-peer trading. You never need to give up control of your private keys to an exchange. All funds are exchanged wallet-to-wallet.
AtomicDEX will provide an enormous increase in security for all users and reduces liability for exchanges, who are currently responsible for protecting users’ wealth. AtomicDEX is different because the app never holds, controls, or manages funds.
Whereas the previous generation of Komodo’s DEX technology, BarterDEX, occasionally had connectivity issues, AtomicDEX proved to be reliable during the internal tests.
AtomicDEX uses a proven P2P protocol — libtorrent, a particular implementation of the BitTorrent DHT — to connect users who have agreed upon a trade. This leverages an existing and well-established global network and provides a high degree of stability for executing swaps. Trading is nearly instantaneous.
In addition, the AtomicDEX beta is fully mobile ready for both Android and iOS. Allowing peer-to-peer atomic swaps from mobile devices will make blockchain and digital currencies more accessible to people all around the world and promote adoption.
Komodo’s new AtomicDEX makes trading simple in several ways.
First, transaction fees are minimal — just 0.15% of the total value of the trade. Only one party in the trade (the “taker”) must pay a fee. Market makers and liquidity providers pay no fees whatsoever. The 0.15% fee is much lower than what centralized exchanges typically charge, which is often 0.2% to both parties.
Second, AtomicDEX is secure, fast, stable, and doesn’t require transferring in and out of exchanges to make trades. With AtomicDEX, traders avoid long deposit and withdrawal wait times, as well as withdrawal fees and daily withdrawal limits.
Third, AtomicDEX can support over 99% of all coins and tokens in existence. Any asset that supports time- and hash-locked payments can be listed on AtomicDEX. Currently, only 13 different coins and tokens are enabled in the beta version of AtomicDEX but more will be added in future releases.
Finally, since AtomicDEX uses atomic swap technology, every listed asset can have a direct trading pair with any other listed asset. It’s direct, peer-to-peer trading for any two assets that traders want to exchange. Every coin and token can have hundreds of direct trading pairs, regardless of its total market cap or protocol
- An Open Framework For Decentralized Trading
Komodo’s AtomicDEX is more than just a product — it’s an open standards effort aimed at increasing security throughout the blockchain industry and accelerating the global adoption of blockchain technology.
The AtomicAPI is an open framework for atomic swap technology to which any third-party exchange or wallet can integrate. This will greatly increase security for any exchanges that choose to adopt, as users will retain control of their private keys.
The AtomicAPI will provide a crucial competitive edge for any projects that choose to implement this new technology. It allows any wallet to offer decentralized trading features. Whereas exchanges have the option to use AtomicAPI to offer wallet functionality, wallets have the option to use AtomicAPI to offer DEX functionality. It’s a unique hybrid technology.
In addition, the AtomicAPI has a shared liquidity pool. Komodo has always taken a collaborative approach. In that spirit, the shared liquidity pool removes an element of competition from the digital asset exchange market.
Today, only a small handful of exchanges benefit from the network effect while others suffer from a lack of liquidity. The AtomicAPI shared liquidity pool allows every project to benefit from each additional adoption of this cutting-edge technology.
For all of these reasons, Komodo’s new AtomicAPI will fundamentally alter the way that digital assets are traded. Komodo is proud to continue leading the industry and accelerating the global adoption of blockchain technology.
If you’d like to try AtomicDEX, please sign up for the exclusive, invite-only beta test here.
If you are interested to learn more about how AtomicDEX works or want to develop on it.
The new Komodo website is now online featuring Komodo’s new visual identity, messaging, and user journeys.
They do have an internal roadmap, but they have yet to make that information public. Part of the reason why they do this is that if the landscape changes, we desire to be flexible in adapting as necessary.
- 1H 2019
Release of version 1.0 of Komodo’s Custom Blockchain Generator on AWS marketplace
“Evolution” Campaign to launch new roadmap, whitepaper, and messaging
Annual Notary Node Elections — has begun
Continued development of Custom Consensus Framework — has begun
Launch of KMDCC interlinked chain to support zero-knowledge privacy, new Crypto-Conditions smart modules, and other test features and solutions.
- 2H 2019
Release of Komodo’s Developer Portal to support increased participation and involvement of Komodo community
Increased usage of AWS Marketplace to support Komodo products and services, including independent blockchains and custom consensus modules
Release of GUI for a fully mobile-ready wallet/DEX hybrid
There are all projects built on Komodo in one Google Spreadsheet.
Reviews and news of Komodo Platform:
Komodo: Atomic Swaps on a Mobile Decentralised Exchange — Public Beta Out Now!
The Komodo developers have designed a fully decentralised exchange that works on IOS and Android and uses atomic swap technology. No KYC. No registration. No counter-party risk. Fully decentralised. I take a look at how it all works.
Social media metrics
Social media activity:
Social media dynamics:
- It seems that the community gets interested in Discord. It can be related to the last hack attack since Discord is the place used to communicate with developers in the crypto world and all users were able to know all actual news about solving the problem.
- JL777, Komodo’s Platform Core developer and founder, has started his own blog on Medium. This is aimed for developers who want to learn more about blockchain.
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.