Komodo Celebrates The Mining Of Block 1 Million!

Komodo is excited to announce that the KMD chain has reached Block 1 Million! This is a huge milestone and cause for celebration.

Many thanks are owed to many people. First and foremost, the extraordinary efforts of James ‘jl777’ Lee, Komodo’s Lead Developer, have been a driving force for much of Komodo’s progress over the years. The Komodo team is extremely grateful to have such an innovative and diligent Lead Dev.

In addition, the Development Team and Support/QA Teams, led by ca333 and SHossain, have also both worked tirelessly to improve the Komodo Platform. Both the Dev Team and the Support/QA Team deserve special recognition for their hard work in coding, testing, and troubleshooting to bring innovative blockchain solutions into the Komodo ecosystem.

Last, but certainly not least, the Komodo team would like to extend a huge thanks to our community and open-source contributors for their continued support in driving growth and adoption. We cannot express how much we appreciate those who have helped Komodo along over the years. 

The Achievements Of Komodo Platform

The first block in the KMD blockchain was mined just under two years ago, on September 13, 2016 to 9:04 PM. Since then, Komodo has demonstrated a commitment to innovation and established a history of execution.

Let’s take a moment to celebrate everything that Komodo has accomplished over the past few years.

February 21, 2016 — The vision for Komodo Platform is born with jl777’s Declaration of Independence.

September 13, 2016 — The first block in the KMD chain is mined.

October 15, 2016 — Komodo’s initial coin offering (ICO) is launched.

November 20, 2016 — Komodo’s ICO comes to a close with a total of 2,639 BTC raised.

January 2017 — The Komodo Mainnet is launched, complete with independent assetchains and delayed Proof of Work security.

January 31, 2017 — The KMD coins purchased in the ICO are issued.

March 2017 — Komodo’s development team develops one of the first atomic swap protocols.

July 2017 — Thousands of atomic swaps are made in a public, observable setting.  

August 2017 — Private, zero-knowledge trades made possible with Jumblr, Komodo’s native shuffler.

October 2017 — Komodo develops a way to make atomic swaps in SPV Mode (“Lite Mode”), thus eliminating the need for traders to download entire blockchains to do atomic swaps.

November 2017 — First GUI for Komodo’s atomic-swap-powered decentralized exchange (DEX) is released, making atomic swap trading more accessible than ever before.

January 2018 — The mobile version of Agama wallet is released.

February 2018 — A public stress test allows 13,900 atomic swaps in a 48 hour period.

March 2018Komodo bridges the gap between Bitcoin-protocol-based coins and Ethereum-based ERC-20 tokens, providing support for 95% of coins and tokens in existence.

March 2018 — Komodo holds its second annual Notary Node Elections.

May 2018 — The world’s first decentralized ICO is held on Komodo Platform.

June 2018 — The alpha release of HyperDEX, a new GUI for Komodo’s decentralized exchange, is launched.

July 2018 — Komodo enters a partnership with Netcoins, making KMD coins available for purchase with fiat currencies at over 21,000 locations across three continents.

July 2018 — Komodo announces the 5 Pillars of Blockchain technology and begins introducing some Komodo 2.0 technology features, like Federated Multi-Chain Syncing and Cross-Chain Smart Contracts.

August 2018 — Komodo takes two big steps towards mass adoption, announces a collaboration with Ideas By Nature, an industry-leading blockchain agency, and releases a full briefing on the development on UTXO-based smart contracts.

Much has been accomplished over the last several years. At the same time, there is much work to be done. That’s why the Komodo team is still working hard to build upon the progress that’s already been made.

Komodo 2.0: Evolving Into The Future

Komodo’s tradition of cutting-edge development continues with new features activated at Block 1 Million. These new features include the introduction of Komodo’s UTXO-based smart contracts, as well as a minor adjustment to the way mining rewards are distributed and a slight change to KMD active user rewards.

While these features are a huge step forward for Komodo, they are just one aspect of the Komodo 2.0 tech updates. Other Komodo 2.0 tech updates include:

Delayed Proof of Work security services is now available to any PoW chain in existence, providing protection from 51% attacks.Cross-Chain Smart Contracts create inter-chain fungibility. With a unique burn protocol that keeps coin supply constant, Cross-Chain Smart Contracts allow multiple blockchains to function as one logical chain.Federated Multi-Chain Syncing enables cross-chain verifications and empowers Komodo to process more than 20K transactions per second. In the coming months, a new public scaling test will demonstrate 1 Million tx per second.

All of these remarkable features will become live in the Komodo code base and available to every project that builds on Komodo Platform.

On top of all that, the improvements coming with Komodo 2.0 don’t stop with the Development Team. This evolution of Komodo will encompass the entire project. The specifics of the Komodo 2.0 upgrade are being finalized but more details will be released very soon. Stay tuned for more information regarding the evolution of Komodo.

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Join us as we continue to evolve and lead the blockchain industry into the future.