What is Komodo (KMD) Cryptocurrency?
Komodo is a fresh addition to the enormous cryptocurrency market. It was created to help blockchain entrepreneurs and typical crypto investors. As a result, the community has made a hopeful and enthusiastic gesture. And we do business in a secure environment.
What is a Komodo coin?
Komodo Coin, often known as Komodo (KMD), is a privacy-focused decentralized cryptocurrency that promises to be safer, faster, and easier to use thanks to its own ecosystem. It is said to combine Bitcoin's security and Zcash's anonymity. It works on the basis of Deferred Proof of Work.
Komodo is a revolution
The Delayed Proof of Work (dPoW) technology is used in Komodo blockchain systems. This is an example of zero-knowledge proof in action. Below is a more detailed explanation –
ZCash -
It is a cryptocurrency that operates on the zk-SNARK technology. This zero-knowledge proof ensures that any cryptocurrency's privacy, anonymity, and fungibility are preserved. Komodo also employs this protocol for private transactions.
Delayed Proof of Work (dPOW) -
The PoW network provides all of the necessary security, but it also serves as a storage space for Komodo transaction backups. It provides safe immunity, but only in the short term. According to their whitepaper, in order to hack a transaction, the Bitcoin blockchain must be changed. To mitigate the possibility of it continuing in the same manner, 64 pre-selected notary nodes notarize the blocks on the blockchain.
The SuperNET -
The new cryptocurrency sector is moving forward with the help of updated decentralized tools such as multi-coin wallets, decentralized exchanges, price stability products, and other resources such as infrastructure and software apps provided by SuperNET.
The following are some tools that have been created.
What is KMD?
Komodo's native currency is KMD, which embodies their community ideals and objectives by providing extra protection and autonomy. It was launched to the crypto globe in 2014, and they are building peer-to-peer with their satisfied advancements. It was created by jl777 and was raised from BitcoinDark (BTDC). It is guarded using PoW and dPoW, and it guarantees protection from approximately 51% of attacks.
The KMD structure
The block size is 4 MB, the block duration is 1 minute, and the block reward is 3 KMD. (During future halving events, block rewards will decrease from 3 KMD to 2 KMD to 1 KMD. At that point, block rewards will be permanently capped at 1 KMD. The entire supply is close to 124 million, but the maximum supply might reach 200 million. The Komodo coins can be converted into 32 other currencies while keeping their market value. However, KMD's demise was caused by a failure to comprehend the need for trustworthiness
How to Invest in Komodo Cryptocurrency
Komodo tokens can be traded for BTC, LTC, ERC-20, ZEC, ETH, and other cryptocurrencies. Komodo can be purchased on a cryptocurrency exchange such as WazirX or Bitbns. To purchase Komodo Coin, one must first open an account on one of these exchanges. Komodo Coin can be purchased with a credit or debit card that has sufficient funds. The account creation process requests basic information from the investor, such as name and bank account information. For verification, one may be required to upload a Pan Card.
Wallets of Komodo
Komodo Paper Wallet — Because they use the same address structure, any digital asset generated on Komodo's multi-chain network can be kept here.
Ledger Nano S wallets — The private key in this wallet never leaves the device. Komodo can be purchased from anywhere in the world.
Agama Wallet - Komodo created a desktop wallet called Agama Wallet. It is compatible with Mac(OS), Windows, and Linux. It contains built-in technology that facilitates exchanges and serves as a multi-coin wallet.
AtomicDEX — Like KMD, it can save any digital material on desktop (Mac, Windows, and Linux) and mobile devices ( iOS and Android).
OceanQT – A desktop wallet as well. It is used to sync and download the KMD Blockchain.
Is it a wise investment to buy Komodo?
It has a shaky future right now; it is on the verge of rising to $1.4 this year. However, because it is well-known among investors, the Komodo team is working hard to make it profitable. It is likely to grow quicker than ever in the near future because it runs on SuperNET.
Komodo Coin Price Prediction
Websites and professionals forecast the price of KMD Coin based on its past performance. According to Wallet Investor, the Komodo Coin price will grow to $1.2 in the coming year. Komodo Coin, according to the same outlets, may reach $2.396 in five years. These are, however, merely predictions, and they may or may not come true in the future. According to Digital Coin Price, the price of Komodo Coin is expected to reach $1.56 in 2022 and $2.73 in 2025.
Please DYOR before making an investment.
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