Advanced Blockchain Technology, Focused On Freedom
The Komodo project focuses on empowering users with Freedom through blockchain technology. There are many forms of Freedom that Komodo can provide, and we currently focus on empowering two types of users: the blockchain entrepreneur, and the average cryptocurrency investor. Together, our community of entrepreneurs, investors, and other users form an economic ecosystem.
The foundational pillar of the Komodo ecosystem is security. Komodo provides a unique and innovative form of security that is as strong as the Bitcoin network, yet does not require the incredible cost. Every member of the Komodo ecosystem receives the benefits of this security. The investor relies on it for everyday use. The entrepreneur relies on it to protect their blockchain innovation at a cost that is affordable even to small businesses and startups.
Another of Komodo’s powerful technologies is a new method of trading cryptocurrencies directly from one person to another. It is a new kind of "decentralized exchange." Our decentralized exchange removes all forms of middlemen, vouchers, and escrow services. It relies on an underlying concept called the "atomic swap", and we are the leaders in this technology.
Our atomic-swap powered decentralized exchange serves both the investor and the blockchain entrepreneur.
For the investor, they can trade cryptocurrencies without having to pass through a centralized exchange, which can be an arduous and even dangerous process. They also do not have to use an escrow service, voucher, nor even an intermediary coin—not even Bitcoin. Furthermore, there is no registration process required, nor are there any withdrawal limits. We currently support approximately 95% of the cryptocurrencies in existence, including Bitcoin-protocol based coins, Ethereum, and Ethereum-based ERC20 tokens.
For the entrepreneur, our decentralized exchange enables the release of new products to the world without middleman involvement. Furthermore, even entrepreneurs who have previously built other blockchain projects outside our ecosystem can easily feature their coin on our decentralized exchange. The only requirement is that the blockchain product have the proper security elements in the core of the blockchain’s code.
Komodo also has powerful privacy features built into our platform. When activated, these features allow the investor to trade and purchase goods and services within their right to privacy. This also allows the entrepreneur to release their product, and to crowdsource funds, from an audience that may prefer to maintain this privacy.
There are many other technologies and features in the Komodo ecosystem, and we are experiencing a rapid growth of both entrepreneurs and investors.
The documentation in the Core Technology Discussion section provides an in-depth discussion about Komodo’s unique security features, our decentralized exchange, the method of releasing new products on it, and our native privacy features.
We welcome feedback from our readers. If you have any questions or concerns over the course of reading this material, please reach out to our team directly. You may find our contact information on our accompanying website: https://komodoplatform.com (opens new window)
# Note on Changes Since Whitepaper Creation (cr. 2019)
The documentation in this section is based on the Komodo whitepaper that was written in 2017. The content was updated in July 2019 to ensure technical accuracy. We recommend that all newcomers read this documentation to enhance their understanding of the nature and design of Komodo.
Since 2017, the Komodo team has greatly advanced the technologies on the Komodo Platform, and these new technologies are discussed in other areas of the technical-documentation website.
Also, zero-knowledge transactions are still available on Komodo-based blockchains, but they are no longer available on the KMD main chain. This change was made largely in response to community feedback and industry developments.