Populous – History Made!

There was a number of tweets sent in the last few days. Did you understand the implication of these tweets? It isn’t just any tweet but possibly ones that will go down in the blockchain history books.

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A Historic Event!

On 18 March 2018 history was made. A coin based on the Ethereum protocol was swapped for another coin on the Bitcoin protocol without the need for a centralised exchange. The first ever cross-chain exchange was successfully completed and it was not just any Ethereum based protocol coin but PPT.

As a follow-up to the successful PPT atomic swap with BEER another successful Atomic Swap was carried out on 20 March 2018. This time the swap was between BTC and PXT.

The two swaps demonstrated that the tech is very real and working!

Congratulations to the Populous and Komodo Platform team for making this happen in the world first.

Komodo Dragon?

When we hear of Komodo, we think of the Komodo Dragon. Komodo referred to here is not the lumbering reptile you find in Indonesia.

Have heard of Komodo Platform who are responsible for the Komodo (KMD) cryptocurrency? Have you heard of Atomic Swap? Have you heard of BarterDex? If, you haven’t, then you have now!

Komodo (KMD) is a fork of Z-cash and just like Z-cash is a privacy coin, the Komodo Platform can facilitate decentalise ICO and also P2P crypto exchanges via Atomic Swap on their decentralised exchange called BarterDex. There is much more to KMD and could make it a leader in its field.

BarterDex is where the PPT/BEER and BTC/PXT exchanged was successfully completed via Atomic Swap.

There is more to Komodo Platform and if you want to find out who they are and what they do, then go here.

Significance of the BTC/PXT Atomic Swap

The BTC/PXT swap was not just a swap. The implication for PXT is tremendous and the partnership with the Komodo Platform has huge implications.

PPT successfully carried out its pre-ICO more than six months ago and yet it still has not yet been picked up by the major exchanges such as Bitfinex, Bithumb or Bittrex. PXT is also not listed so is not widely available.

It is not even sure that the PXT will be listed. It could be that the Populous team have not pushed for the PXT to be listed and yet when they do it will take time. The listing of any coin/token will be based on the exchanges’ listing criterias and time-frame, and not on the user’s needs.

Although you can procure the PXT (PXBRL) on EtherDelta and ForkDelta, these exchanges are not widely used compared to the more developed major exchanges. Furthermore, FD and ED requires know-how, extra care and attention lest you make a catastrophic mistake. FD and ED scares a lot people.

Bitcoin/Poken Swap Next?

PPT and PXT have successfully been Atomic Swapped with flying colour and the Poken is next. This should not be a problem and should be plain sailing following in the footsteps of the PPT and PXT Atomic Swaps.

Once Poken Atomic Swaps are shown to be successful the doors are opened wide for other uses as well. As an example, since Pokens are pegged to fiat making it Tether-like, Atomic Swaps paves the ways for Pokens to be utilised as safe haven assets without them being listed on exchanges.

Since Poken is backed by the Populous Liquidity Pool, the Poken is therefore a monitised crytpocurrency. Pokens are not just backed by fiat but also by gold. The gold will be audited as and when required by Delottie, one of the Big Four Accounting Companies in the world to give holders of Pokens assurance.

If you need to park BTC in a safe haven asset and do not want to pay high exchange fees, use Tether (USDT) or other safe haven alternatives, Atomic Swap your BTC for Pokens with the knowledge that Pokens are redeemable if required.

The Komodo Partnership

To top it off the Atomic Swap was a prelude to the exclusive partnership between Populous and Komodo Platform. Steve hinted of the prospect of an exchange within the Populous Platform and this partnership with Komodo Platform sealed the deal.

The strategic partnership seals an agreement, securing Populous to be the only invoice discounting platform that Komodo will collaborate with. No other invoice factoring, discounting and financing related platforms or companies will enter into a partnership or agreement with Komodo.
Populous and Komodo will work together, to integrate atomic swaps between tokens and other cryptocurrencies on Populous’ Beta live platform.

Read the partnership announcement put out by Populous here.

It is very obvious that Komodo Platform sees the benefit of an exclusive deal with Populous. One Partnership and Komodo Platform gets to be on two up-and-coming blockchain based financing Platform with real use case. Will we also find Komodo on a future Populous platform dealing in distressed assets?

Looking Ahead

This is an exclusive partnership between Populous and Komodo Platform. The agreement states that the Komodo Platform wll not partner with other invoice factoring and discounting platforms and other financing related platforms or companies. Therefore, expect Komodo Platform to be integrated not only with the Populous Invoice Discounting Platform but also the Populous XBRL Platform.

What is more, does the integration of a Komodo Wallet on the platform mean that PPT holders who have generated Pokens through the purchased of invoices can swap them for KMD and stake them in the In-Platform Komodo wallets?

Will there be a dedicated BarterDex for all things Populous connected to this wallet? This dedicated Populous BarterDex will definitely be the goto DEX for PXTs and all things Populous. What other features will also be incorporated in the Komodo Wallet on the Populous platforms?

In Conclusion

Centralised exchanges are seen as “King Makers” but maybe for only just for a teeny weeny while longer. Exchanges can make or break the success of coins/tokens where price is concerned. It is also important to ensure wide availability and ease of accessibility to the coins/tokens.

With the Populous Komodo Platform Partnership, there is no need to list the PPT, PXT and Pokens on the (possibly soon to be legacy) centralised exchanges. It can be said that it is no longer a “necessity” to be listed but it would be “nice” to be.

Nevertheless, when listed, it is also at the whim of the exchanges when the listing no longer serve their purpose or on command of “regulating” authorities to delist. The Populous Komodo Platform Partnership will help Populous mitigate this issue by eliminating the need for third party exchanges. The Populous Komodo Partnership will demonstrates to others how to become a crypto-crypto gateway for their coins.

There are other platforms pursuing cross-chain exchanges but the Populous’ decision to partner with Komodo Platform only means one thing. Could it be that Komodo Platform is the one who are furthest along with development of a fully working product?

The reign of centralised exchanges is about to end and the future is here with the Populous Komodo Platform Partnership leading the charge.

Other Populous Posts

My most recent Populous posts can be read by clicking the links below.

Populous – Now is the Time to Plan!
https://steemit.com/populous/@marcusxman/populous-now-is-the-time-to-plan
Populous – Light at the End of the Tunnel!
https://steemit.com/populous/@marcusxman/populous-light-at-the-end-of-the-tunnel
Populous – Who’s Next?
https://steemit.com/populous/@marcusxman/populous-who-s-next
Populous – PXT, The Great Equaliser?
https://steemit.com/populous/@marcusxman/populous-pxt-the-great-equaliser
Populous – Safety First!
https://steemit.com/populous/@marcusxman/populous-safety-first

There are many more Populous post and they can be found here.

Should you have any questions concerning Populous you can ask Populous through Slack, Bitcointalk forum or Twitter Account for answers and clarifications.

However, do bear in mind that Populous are not financial advisers and cannot respond to questions that are of a financial nature. The onus is on you to make that determination and what it means for you as a PPT holder.

This is NOT Financial Advice

In my humble opinion, the risks to the downside are small compared to the potential upside rewards. The contents in this article are for educational purpose only and should not be construed as financial advice. As usual do not invest more than you can afford to lose as these investments can go to zero and always do your own due diligence. If you need financial advice then speak to a licensed financial advisor.

Feel free to comment as you see fit below.

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I’m just letting off Steem, if you found this post informative then UPVOTE (with FULL POWER), COMMENT, FOLLOW and especially RESTEEM.

Live Long and Prosper

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I wrote this article myself and it expresses my own opinions. Computer literacy is crucial in this day and age, and just because someone tells you it is good does not mean that it is good for you.