Komodo provides federated multi-blockchain technology. Komodo’s multi-chain architecture is unique because it provides a customizable, independent blockchain with independent infrastructure to every project that chooses to build with Komodo’s technology.
Whereas other blockchains platforms are merely a single blockchain with support for smart contracts and decentralized applications, Komodo gives each and every project an independent blockchain with the option to support their own smart contracts, tokens, and dApps. Every project that builds with Komodo has the opportunity to create their own blockchain platform.
As part of Komodo’s technology bundle, every blockchain launched with Komodo is fully customizable and comes with built-in security, scalability, and interoperability features.
Before a blockchain is spawned, 23 different parameters can be customized. These customizable parameters allow almost every aspect of the blockchain to be modified— from the hashing algorithm and the consensus mechanism to the number of coins pre-mined, the size of block rewards, the number of blocks between decreases in block rewards, and the size of the decrease of block rewards at each reduction. There are also optional privacy features.
Komodo’s Blockchain Security Service protects every blockchain in the ecosystem with the power of the Bitcoin network. Every ten minutes, Komodo’s publicly elected notary nodes write a block hash from each blockchain onto the KMD ledger. Then, a block hash from the KMD blockchain is written onto the BTC ledger, providing Bitcoin-level protection to all chains integrated to Komodo’s Blockchain Security Service. This security service is available to any UTXO-based blockchain, whether or not that chain was created with Komodo’s technology, and 4 external projects have already implemented Komodo’s security solution.
In addition to independent infrastructure for every project, which resolves congestion issues in the ecosystem, Komodo allows every project to scale out on-demand. This is possible with Komodo’s Federated Multi-Chain Syncing feature, which enables multiple blockchains to sync up and function as one. Cross-chain notarizations keep the chains synchronized while an innovative burn protocol holds coin supply constant (or allows coin supply to increase only at the rate desired).
Komodo is the world leader in atomic swap technology. Atomic swaps create direct trading pairs between 95% of all coins and tokens in existence. Moreover, Komodo offers cross-chain fungibility to chains within the Komodo ecosystem. This means all chains built with Komodo’s tech are directly interoperable without needing to rely on KMD as an intermediary currency.
On top of these cutting-edge security, scalability, and interoperability technologies, Komodo offers a series of white label dApps as part of the Blockchain Starter Kit to make implementing blockchain technology easy. Projects that build with Komodo’s technology can take advantage of a white label multi-coin crypto wallet, decentralized trading platform, decentralized crowdfunding application, and custom block explorer. Komodo makes blockchain tech simple.
Last, but certainly not least, it’s important to emphasize that Komodo is an open-source blockchain project. All new features are pushed to every project in the ecosystem. As Komodo is in a constant state of development and evolution, this ensures that every project that builds with Komodo stays on the cutting-edge of the blockchain industry and receives all of the latest technology. Komodo’s technology isn’t just customizable and independent, it’s also future-proof.
Objectives and accomplishments
Since the Komodo mainnet went live in January 2017, Komodo has consistently made enormous development after enormous development. There are really too many achievements to list them all here, but to highlight a few:
Komodo is the only blockchain platform with a multi-chain architecture.
Komodo is the world leader in atomic swap technology.
Komodo has launched a Blockchain Security Service that protects any UTXO-based blockchain with the power of the BTC network.
Komodo was the first blockchain project to offer support for UTXO-based smart contracts on a BTC-protocol coin.
Komodo is one of the top 10 most active blockchains in the world.
Komodo is an Advanced Technology Partner with Amazon Web Services (AWS).
Learn more about Komodo’s development and achievements here.