My Own Research (MOR) Part 2 - Komodo (KMD)
People say DYOR, as in "do your own research".
So I am. And I'm sharing it with the Steemit community because that will encourage me to actually record notes in one place rather than spending 6 hours researching twelve different coins to only remember what 3 of them do just a few days later.
If I ever make a post with a coin I have a stake in, I will announce that. I only own a single coin right now, and I'm not going to do a MOR post about it because I already did the research.
I'm not going to give any advice or make price predictions. My task is research and synopsis-- not analysis. When people say DYOR, they're essentially saying "I'm providing analysis, if you want to back this up, go look for yourself because I won't do it for you. But I think a lot of people would rather do the analysis themselves and have someone else do the research.
COIN GECKO & COINMARKETCAP
WEBSITE & TECH
The website is bland, concise, and readable. An overlay on the main page promises... a better website coming soon.
The opening infographic sells the ease of launching a secure and flexible ICO. As you scroll down, they lay out the "what's different about us" selling points.
The first few selling points will sound familiar if you've researched blockchain platforms before. It's modular and you have complete control over what technology you want to use in your blockchain.
Two of their points stand out, however. They emphasize support and offer a "Blockchain starter kit". They stress a desire to build an ecosystem (the idea is not unusual, but the emphasis is notable). They also have a description of what they call dPOW (delayed Proof of Work), which I include below.
Their final panel advertises "The world's first decentralized ICO". When you click through to the project, it introduces the first ICO partner on the KOMODO platform called Monaize, an e-banking platform that uses a Komodo platform blockchain. The Partners page offers help to potential developers who might want to conduct an ICO on the Komodo platform. If you click through to get more information about their first ICO with Monaize you'll find it has been postponed.
Bafflingly, the most exciting project Komodo is working on is not mentioned when you scroll through the main page. The BarterDEX aims to build a peer-to-peer cryptocurrency exchange based on atomic swaps that would allow you to make secure trades from within your wallet.
This service has several selling points:
-allows anyone to sell a coin of their own making
-avoids the insecurity of centralized exchanges holding private keys
-Bitcoin level security, through dPOW somehow-- I'm not a computer scientist or an expert on blockchain technology so check out the dPOW whitepaper if you're interested.
-Coins pegged to fiat currency (think USD Tether but transparent rather than shady)
TEAM
Information about the Komodo team is for the most part limited to usernames and avatars. None of the staff have listed credentials or links to personal or professional pages.
KOMODO SUBREDDIT STATS
HOPEFULS & DOUBTFULS
Hopefuls:
-Market Cap not insanely high
-If it achieves what they have set out to achieve, BarterDEX would be a vast improvement over current cryptocurrency trading options. Decentralized peer-to-peer exchanges are coming. If Komodo can build one that is secure and user friendly, on their platform, utilizing atomic swaps to allow for in-wallet trading, there is great potential for use of their platform.
Doubtfuls:
-It's unclear how a successful BarterDEX leads to demand for KMD.
-Outside of BarterDEX, it's unclear what makes Komodo likely to have more success than any other modular blockchain application platform.
That's it for KMD. Let me know what information you were curious about that you didn't see here, and I'll try to include similar information in the next one. If you have a request for which I coin I should do next, let me know.
Thanks for reading and Happy Hunting!
Previous MOR, MOR #1 which I for some reason called an "episode"