Checking Out Decentralized Exchanges… Komodo (KMD)
It seems like ages ago now but it wasn’t too long ago that China banned both ICOs and cryptocurrency exchanges. The actions by China highlighted the need for decentralized exchanges.
The Komodo Platform offers features including a decentralized exchange. It’s an open-source, decentralized platform. And in addition to the decentralized exchange it also features assetchains, a built-in coin mixer, a multi-crypto wallet, and dApps.
Komodo is a fork of ZCash and builds off the work of the BitcoinDark and SuperNET developers. ZCash’s zero knowledge proofs provide the anonymity on the platform.
It uses a novel consensus mechanism called delayed Proof of Work (dPoW). It’s regular PoW but also hashes into the bitcoin blockchain using 64 pre-selected nodes. As Komodo describes, it recycles bitcoin’s computational power to secure its blockchain. That’s pretty cool because that means assets that run on the Komodo platform and blockchain can also have the security of the bitcoin blockchain.
As far as decentralized exchanges Komodo has BarterDEX, which features decentralized atomic swaps and automatic order matching. Komodo has already successfully completed atomic swaps with KMD/ETH and KMD/DOGE. And the team is currently working on the automatic order matching.
Whether BarterDEX can complete with the likes of a Bittrex I don’t know yet.
Right now Komodo is focused on dICO, or decentralized initial coin offering. Komodo combines its BarterDEX and Jumblr (coin mixer) features for dICOs. You can read more about dICOs from Komodo here. The first dICO on Komodo is an ebanking company called Monaize and the token sale starts November 10.
Overall investors have been interested in Komodo. As you can see from the chart below it’s up roughly 10x from the launch price, yet down over 50% from all-time highs.
In total there will be 200 million KMD tokens with slightly over half in circulation right now.
I’m impressed with what I see so far with Komodo and like that they’re launching the first dICO on the platform in November. I also like that they’ll be releasing the Agama wallet and Pangea Poker dApps in the near-future.
I’m going to watch it and in the meantime try to figure out if it can become a major decentralized exchange.
What do you think of Komodo (KMD)?
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Bitshares dex does most I feel of not all what Komodo does plus more. and reliably fast. For over 3 yrs. and doesn't use pow. Just saying.
I second that. Bitshares DEX works very well. I'm interested in other decentralized exchanges and I'll also be watching Komodo. For now, I've been consistently trading on Bitshares DEX using https://openledger.io and I've been doing quite well. Surprised with my success in trading!
Got a point here too, Keep earning..
From what I know Bitshares does not have decentralized anonymous ICOs. EOS probably will have such features. But Bitshares is not a smart contract platform. Komodo has a DEX as an extra feature. So Don't be too dissapointed if it isn't as good as BTS. Komodo DEX is only there to exchange coins.
another interesting crypto coin.
btw, can it be mined?
Yes, uses the Equihash algorithm so you can mine w a GPU
Haven't heard of Komoda before but seems like an interesting idea. Thanks for the post. Upvoted and followed
Thanks!
No problem! Keep posting!
wow grate post ....i like this..
i have some post .....you can check
here https://steemit.com/crypto/@letsmakes/newsflash-bitcoin-cost-goes-crazy-tears-past-usd6-000
I think KMD and BTCD still have the 50 to 1 swap live till jan 2018. Do you think we see a KMD price jump after BTCD has been decommissioned?
Yep. According to this the swap started at 50 to 1 but drops over time... not sure the rate now - https://support.supernet.org/support/solutions/articles/29000010804-how-to-swap-btcd-to-kmd
I don't think BTCD being decommissioned will affect the KMD price
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@g-dubs it is good to be updated with decentralized disruptions, and more when its about exchanges. Something that needs to get more attention over time. and the more we get exchanges like @blocktrades and komodo, we'll get great benefits for all. this is a great post. upvoted. @gold84
Thanks @gold84, giving all the decentralized exchanges a look. We need them yesterday!
Thanks you for the information @g-dubs, I haven't heard of all this before.. I gain something here with your help and I will also do some research later.. Kudos to good job done. Steem on boss!
Thanks! Steem on!
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Wow, cool! Thank you @blocktrades
Why choose this over bitshares just out of curiosity.
Congrats on making @mrsquiggle curation list.
Thanks!
I haven't picked one over the other at this point. I want to evaluate all the players, including BTS.