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Komodo
About Komodo
Komodo (KMD) is a blockchain and cryptocurrency platform focused on security, anonymity, and interoperability. Stemming from Bitcoin's foundation, it surpasses limitations with advanced tech. Key is "delayed proof of work" (dPoW), backing up Komodo on Bitcoin's chain for extra security. This innovation supports independent blockchains with unique consensus mechanisms, ideal for decentralized apps and secure token sales. Founded by James Lee, Komodo's team envisioned a privacy-focused, scalable ecosystem, leveraging Lee's software and blockchain expertise.
Komodo is a comprehensive blockchain platform and cryptocurrency designed with a focus on providing advanced security, anonymity, and interoperability features. Developed as an enhancement over the Bitcoin protocol, Komodo integrates innovative technologies to overcome the limitations of previous blockchain systems and enrich their functionalities.
One of Komodo's hallmark features is "delayed proof of work" (dPoW), a consensus mechanism that allows the Komodo blockchain to secure itself by leveraging the robustness of the Bitcoin blockchain. This adds an additional layer of security, safeguarding the network against potential attacks.
Komodo's versatile platform supports the development of independent blockchains, each with customizable consensus mechanisms. This flexibility makes it suitable for a wide array of applications, including the deployment of decentralized applications (dApps) and the execution of secure token sales. The Komodo token (KMD) serves multiple functions, such as covering transaction fees, powering dApps, voting for Notary Nodes (dedicated validating servers), and even earning users a 5% active user reward without requiring staking or locking of funds.