Komodo [KMD][dPoW] - Zcash Zero Knowledge Privacy Secured by Bitcoin



  • Komodo Platform

    Mission

    Komodo aims at being the new standard for cryptocurrency security and anonymity. Protected by Zcash Zero Knowledge proofs users can make 100% untraceable transactions that are secured by Bitcoin‘s Petahash Proof of Work, due to Komodo’s new delayed Proof of Work consensus mechanism.

    Komodo: the Native Currency of the SuperNET Ecosystem

    Anonymous

    Untraceable Zero Knowledge transactions allow Komodo to move seamlessly between hands

    Secure

    Komodo’s delayed Proof of Work consensus mechanism allows it to be as safe as Bitcoin

    Green

    Komodo’s dPoW consensus mechanism recycles Bitcoin’s hashrate, making it more efficient

    White Paper:

    Delayed Proof of Work Whitepaper

    EasyDEX Whitepaper

    PAX Whitepaper (in production)

    More Details from komodo steem:

    Understanding Komodo could be divided into three topics: 1) Zcash, 2) dPoW, 3) SuperNET. Lastly we will explain why we are hosting this ICO in the first place - why we need funding and how we will use those funds to better the whole crypto scene.

    If we would have to describe Komodo in one sentence it would be:

    Komodo is a Zcash fork that adds the dPoW consensus on top of it and integrates into the SuperNET ecosystem.

    1. Zcash

    Komodo is a Zcash fork, so it will have all the same privacy features. This includes having both transparent and private transactions that are protected by zero knowledge proofs. We will also use the same trusted setup as they do.

    What is Zcash?

    Zcash is an implementation of the "Zerocash" protocol. Based on Bitcoin's code, it intends to offer a far higher standard of privacy and anonymity through a sophisticated zero-knowledge proving scheme which preserves confidentiality of transaction metadata.

    Relationship with Zcash

    Komodo is not involved with the Zcash project in any way. However our lead developer jl777 was involved with discussions about Zcash protocol design.

    Trusted setup

    Some people have criticized Zcash because there is no way to verify whatever they did successfully destroyed the "toxic waste". This question is highly relevant for us too, because we will use the same parameters. It should be noted though, that it is enough if just one person from their team manages to successfully destroy their private key.

    Here are is what jl777 said about the trustworthiness of Zcash team:

    Knowing the zcash devs, I put zero probability that ALL of them are govt operatives. And it would require all of them to be cooperating. So, what is required is that all of their systems are compromised without their knowing about it. Now there are not just the average joe computer users, they are arguably the most skilled in the field

    However if they all would collude and not destroy the toxic waste it would grant them the power to counterfeit more Zcash as well as KMD coins. Even in this case the Zcash or Komodo wouldn’t lose its privacy features.

    In another post jl777 continues:

    And if there is such a collusion and it is used to inflate the currency supply, it will be discovered and ALL the participants would be found out that they colluded. Also, market value of zcash will plummet, so it seems that smart people wouldnt collude together to be exposed as a colluding group, even if they were unethical and open to stealing.

    More info can be found from the Zcash blog posts generating Zcash parameters and the design of the ceremony.

    Mining

    Our initial consensus will have the same equihash PoW mining as Zcash has. However the mining aspects are not the same because we add the delayed Proof of Work (dPoW) consensus mechanism on top of the PoW mining. See dPoW section for more information.

    Competition with Zcash

    We don't see ourselves competing with Zcash as we are simply the first fork of many Zcash forks we expect to see. Zcash's open source code allows any project to integrate a privacy technology to their platform. The open source model allows developers to borrow ideas and features from each other in order to advance the ecosystem as a whole. - just like we are doing

    Our lead developer jl777 has written a lot about this frequently asked question.

    2. Delayed Proof of Work (dPoW)

    dPoW is a brand new consensus mechanism that provides bitcoin security to all other dPoW chains. Only Komodo has to attach itself to the Bitcoin blockchain, as it would be more economical for others to attach themselves to the Komodo blockchain since Komodo has lower tx fees than bitcoin.

    Why dPoW?

    We developed dPoW so that 1) we can get better security for Komodo, 2) third party blockchains can use Komodo as an additional security layer, 3) SuperNET can achieve its own vision of independent assetchains.

    Notary Nodes

    64 notary nodes will handle the bitcoin blockchain notarization. Notary nodes are elected by Komodo coin holders.

    Elections and running a notary node

    If you want to run a notary node we highly recommend you to start one on our testnet. Join #notarynode channel on SuperNET slack. For more info: Komodo Elections & Candidates Guide: Setup Komodo Notary Node Steemit Article: Notary Node Elections Q&A: Can you give me information about the notary nodes election process?

    Mining

    Notary nodes will do the majority of the mining because they will have a lower difficulty. The other 'normal nodes' can also mine, but it won't be that profitable or even economical if the notary nodes are also online.

    Round robin mining will ensure that there won't be notary node mining wars and that Komodo tx fees will stay low. Round robin mining means that each notary node will be able to mine with lower difficulty on their own turn. For more info see our development blog ‘Notary mining wars – and how to avoid them’

    5% APR

    Every KMD holder will get 5% annual percentage rate (APR) automatically. No other action is required than moving the funds between wallets once a year. Once the funds get moved the new address will be credited with new KMD coins based on how long they were in the previous address. The process has nothing to do with mining or notary nodes. For more info see our development blog ‘How to Implement 5% APR’.

    Notarization

    Komodo's block hashes are recorded to Bitcoin blockchain through group signed transactions. The Komodo blockhain history cannot be changed without also changing bitcoin’s blockchain history. Thus if you make a komodo transaction and wait for it to get notarized, then that transaction will be secured by Bitcoin's hashrate.

    Value Proposition

    Third party blockchains can use Komodo to achieve Bitcoin level security. The dPoW consensus can be thought as an additional security layer or a two-factor authentication method for blockchains. We believe that we will continue to see more and more blockchain projects that will require a way to secure themselves. By using Komodo they pay tx fees to our network, and additionally they can choose to use our high capacity notary nodes.

    We will make it as easy as possible for other blockchains to get the bitcoin security through Komodo. For instance, the Stratis Platform is already interested in using dPoW to secure their private chains. See their complete answer once asked about it in a Stratis Investor Q&A session.

    Seamless transition

    If all the notary nodes would suddenly disappear, the Komodo blockchain could continue to function as it would through a seamless transition into equihash PoW mining. In other words the 'normal nodes' would find all the blocks. However, without notary nodes the system would lose the bitcoin protection.

    More Info

    The picture below illustrates the dPoW consensus mechanism. The most important thing is to understand that there are two blockchains: 1) dPoW (komodo) blockchain, and 2) PoW (Bitcoin) blockchain. There are also two types of nodes: 1) Notary Nodes, and 2) normal nodes. Notary nodes are elected by the community, but normal nodes can be ran by anyone.

    dPoW Consensus Mechanism

    Our Steemit article ‘Komodo: Zcash PoW with dPoW Consensus Mechanism’ goes into greater detail about the role of the PoW mining and dPoW notary nodes. To understand the concept even more deeply read the dPoW whitepaper.

    3. SuperNET

    Komodo is part of a broader project called SuperNET. SuperNET has created Komodo because:

    • SuperNET needs the best anonymity technology
    • it will use dPoW to secure SuperNET's assetchains
    • The ecosystem needs an infrastructure coin - a blockchain that other SuperNET technologies can use. (SuperNET aka UNITY is an asset without blockchain.)

    Roadmap

    SuperNET has an extremely ambitious roadmap that includes

    1. assetchains that allow anyone to create their own asset with its own blockchain
    2. multiwallet where those assets can be stored, including many coins like Bitcoin and Komodo
    3. atomic swaps, so that people can trade their coins from the multiwallet without counterparty risks
    4. pegged assets - which are a form of price-stable assets created on the assetchains - these assets solve the problem of price volatility by attaching themselves to the value of stable currencies like EUR or USD.

    A Short History

    SuperNET had an ICO back in 2014. Its original vision was to build services on top of NXT, and cooperate with other blockchain projects, aka 'corecoins'.

    SuperNET successfully created a decentralized exchange where custom tokens were traded on Nxt Asset Exchange. This project is known as MultiGateway and is still working today. Related to this is a multiwallet called SuperNET lite client, that was also build on top of Nxt. That project is also still actively used.

    The next big thing coming from the team was InstantDEX, an ambitious project that would create a decentralized trading layer between decentralized and centralized exchanges. The backend was build on top of the Nxt and only a GUI was missing. However, due to Nxt's new development path the Nxt's dependency had to be removed from all SuperNET services.

    It was a hard choice made by jl777 that caused the entire project to take multible steps back, and InstantDEX never had its release. Because of that choice, the SuperNET's roadmap was considerably widened with even more ambitious goals. jl777 wanted SuperNET to be independent on third party services/blockchains and began developing Iguana.

    Overall this caused a lot of concern among some investors, who started to believe nothing would ever be fully finished. Nonetheless the development continued and progress was made, but it has been gone under the radar of most casual observers.

    Today the backend code is working, and jl777 is connecting all the pieces together. Our community/team is finding bugs and the technology is more and more polished every day. We also have freelance GUI devs working and we are getting ready to introduce our ecosystem to the broader crypto community.

    Komodo is a major missing piece that will ensure we get Notary Nodes, dPoW, and funding for development.

    If you are still in doubt that there would not have been progress then read this post that combines many jl777’s answers with additional explanations.

    Our GUI Projects

    Komodo can be used through the Iguana GUI in its transparent mode. Another GUI is being developed that will also have the protected (anonymous) mode.

    Iguana is the SuperNET’s multiwallet and it has been in development for some time now. Its GUI is being developed by Boogieman and his team, for all the GUI updates see this gallery. The other GUI is related to EasyDEX GUI and it is being developed by Satinder Grewal. For more info read our Steemit post ‘Komodo GUI (Graphic User Interface) Update’.

    Assetchains

    Assetchains enable anyone to create assets that have their own blockchain. Unlike the colored coins concept these assets are totally independent from any other blockchain platform. The problem is that low value assets have low security, and because of that we will secure them with the delayed Proof of Work system.

    PAX

    SuperNET’s Pegged Asset Exchange (PAX) enables users to buy and sell pegged assets that represent currencies such as dollars and euros. Each asset is created with the ‘assetchain’ technology and thus they will all have their own blockcahin. Those assets can be stored in the multiwallet and traded on a decentralized exchange.

    For more info see this infographic and PAX FAQ on bitcoindark’s website. The old materials are 80% up-to-date. We are currently planning to add fiat assets only.

    Ecosytem

    Everything our lead developer and architect jl777 has been developing ties together into this big ecosystem of decentralized solutions. The different parts complement each other and together they will power-up a greater system that will go head-to-head against the outdated fiat system. In this vision the dPoW and Komodo play a key role.

    We will soon enter a new era in crypto.

    Our open source code

    Iguana - https://github.com/jl777/SuperNET Komodo - https://github.com/jl777/komodo Assetchains - https://github.com/jl777/assetchains

    More info

    Steemit article: The Silent Progress of Deep Tech Steemit article: Q & A: SuperNET, Iguana, and the Role of Komodo

    4. Why we need funding

    In short, we need funding for two main areas:

    1. dPoW implementation
    2. development

    dPoW & Notary Nodes

    It costs a lot of money to do constant group signed Bitcoin transactions. About 100 notarizations per day would cost ~0.3 BTC/day, which is 9 BTC/month.

    Our plan is to attract third party blockchain to use Komodo's dPoW as an additional security layer (like 2FA for blockchains), we will make the process as easy and intuitive as possible and, according to jl777, they might not even need a hard fork to implement this technology. However, for them to take our service seriously we must be able to show them that we are able to continue running the service long in the future. Thus we have decided that we need at least 10 year buffer of tx fees. The tx fees alone would cost 1200 BTC in the 10 year period. Of course eventually the system will become self-sustaining as other blockchains will use our service and pay tx fees to Komodo.

    Then we have the 64 high capacity notary nodes. To them we guarantee an income of at least $500 / month. They will get revenue from the block tx fees and block rewards. However if that is not enough we will pay the difference, so that they will receive at least $500. From that info we can calculate worse case scenario where we would pay the full $500/month: 64 NN x $500/month x 12 months = 384 000 USD/year.

    Development

    Komodo has a central role as an infrastructure coin in the SuperNET ecosystem. Komodo is in fact the only coin as all the others are just assets, e.g. SuperNET (UNITY) is an asset on the NXT blockchain. Komodo will bring security via dPoW and privacy via Zcash zero knowledge proofs.

    • We need GUI devs: jl777 has created a lot of the basic low level tech, but many applications are still missing GUI.
    • We need project managers: jl777 is the lead developer / architect - not a project manager - and our project really needs a strong management team
    • We need C devs: currently it would take a lot of time for someone to replace jl777, so we need more people who understand the low level tech we have
    • We need testers: we need to remove all the bugs before the end users can use our product.

    So far, the SuperNET development has been going on with half steam, as we 1) haven't had a strong project manager, 2) we have had only part-time freelance GUI devs, 3) testing has been done by the community members on their free time... however jl777 has been coding non stop since he started the project in 2014, and that is really the reason why we have gotten as far as we have.

    That said, we are currently hiring so send us your application and resume: [email protected]

    Balance between notarization costs and development

    Komodo block time is 1 minute, Bitcoin block time is ~10 minutes. Ideally we would have one Komodo notarization per bitcoin block. That means we would do the notarization every 10th Komodo block (that is the current plan). However we can decrease the costs of notarization by decreasing the notarization speed, for example every 20th Komodo block.

    We also have the option to decrease the amount of notary nodes, which would also bring the costs down. Ideally we would like to have 64 of them, but less would get the job done also.

    It's all about reaching a balance between notarization costs vs development costs.

    Exchange:

    Cryptox

    CoinExchange

    Cryptopia: KMD/BTC

    Cryptopia: KMD/DOGE

    Cryptopia :KMD/DOT

    Komodo Explorer KPX: explorer.komodoplatform.com

    REVS explorer: http://revs.supernet.org/

    Komodo GPU Mining

    Mining Pool:

    KomodoPool.com

    Suprnova.cc

    Links:

    Twitter

    Twitter


    Facebook

    Steemit

    Bitcointalk

    Bitcointalk

    GitHub

    Dev Updates:https://komodoplatform.com/dev...



  • Komodo -Interview with our lead developer on

    https://soundcloud.com/coremed...



  • Iguana Multi-Coin Wallet Update #23

    It is another update from the Iguana team with some good news for those who can not stand waiting but finally try Iguana in action.

    We have released the 0.3 version of the Iguana wallet GUI. But this update will contain more a brief resume about what we have come to.

    Features in Iguana GUI now:

    1. Create
    2. Login
    3. Full Node
    4. Iguana coins syncing
    5. Lite and Native Nodes (disabled)
    6. Add coin(s)
    7. Fees
    8. Ref. currency (32) rates to coins
    9. Receive coins
    10. Send coins (breaking)
    11. Global fee settings (BTC only)

    When we got the first desktop beta applications, Iguana GUI team with the help of our community discovered some bugs related to account creation and login flows. Gladly, we fixed them all, reworked or upgraded the old ones.

    New Implemented Major Features In Details

    1. Full Node
    2. Lite & Native Nodes (disabled)
    3. Nodes Selector (disabled)

    'Select a coin to add' screen

    For security sake, we decided to release with Full Mode option enabled and Lite and Native disabled. The tests on the GUI level and desktop application level warned us about their instability. To switch on back Lite and Native buttons are our next priority.

    4.Coin syncing

    Dashboard

    The missing feature for displaying progress on syncing coins in Iguana mode is there. Now it shows the percentage of database download status. Moreover, we added labels so that a user can understand his assets states in seconds.

    WARNING! We discovered that Iguana may get crashed once a user tries to sync two coins at the same time. It depends on user's machine configuration and power. Make sure, you sync one coin at a time or have enough computer resources.



  • Komodo [KMD] New Exchange:

    Komodo Listed On

    https://cryptxc.com/markets/km...

    Formo more Details about Exchange:http://cryptocentral.info/topi...



  • Komodo [KMD] New Exchange:

    https://bittrex.com/Market/Ind...

    Komodo got just added to Bittrex. We are now trading on a number of exchanges, and we have ensured a liquid KMD market.

    During the first weeks, KMD has had an impressive volume considering it
    was not listed on a more established exchange. It will be interesting to
    see how the KMD volume and price develop from now on.

    We are now also listed on coinmarketcap.com, which helps to keep track of KMD markets and the price development.                         




  • Komodo release  Windows wallet V 0.6.2

    testing:https://github.com/ca333/komod...

    How to use: 
    1) Download the windows installerhttps://github.com/ca333/ or the official SuperNET website/git. Read the release-notes from https://github.com/ca333/komod...

    thank you,
    ca333





  • Iguana Desktop 0.1.5.1e beta release

    NOTE: This is experimental release.

    This release version starts a series of quick experimental ninja releases. You'll get updated releases with new updates very quite often. You can skip them if you wish. or wait for the Non-Experimental release version and install them when available.

    This version of wallet includes many performance improvement features for GUI and Iguana Core.
    The GUI for Full Mode and Basilisk Mode from the last release to this release is an almost 7th iteration of itself, improving on its previous dev builds.

    This build took a lot of dev time solving Basilisk Mode issues and improving its performance.

    NOTE: There are still known issues with Basilisk Mode. Please read Known Issues for workarounds to them.

    Native Komodo Support

    Komodo Native Mode works out of the box for OS X. (You must have zcashparams installed)

    For Linux users, it is recommended to compile komodo binaries from source code and replace it in Iguana App.
    Komodo Github repository:https://github.com/jl777/komodohttps://github.com/SuperNETorg/komodo/wiki/How-to-use-Jumblr-DAPP-in-Iguana-Desktop-App

    Known Issues

    • Basilisk Mode transactions may fail to send or error. The workaround is to push "Refresh Funds" button before sending the transaction.
    • Wait for a minute while Refresh Funds is updating the data cache for Basilisk Wallet.
    • Or just use Full Mode wallet.
    • Or Native Mode Wallet for available coin/KMD, if available for your platform.

    Installation Instructions

    Installers for this release version are not pushed. Installer builds need some troubleshooting pending. Will have the installers builds out soon. If not for this release then expect them for next release version.

    For this version, extract/unzip the files and run the Iguana binary to start.

    OS X users can replace the existing Iguana.app file in /Applications.

    Linux users can just run from the extracted files/directory or just replace the files inside /opt/ with the extracted one to upgrade.

    Windows build of this experimental release

    is a bit delayed.

    IguanaApp-0.1.5.1e-beta-osx.app.zip
    1a68074ffc9bcfbbfef3006bdc071be7955f145ea2590e6d7189c07d29b628ae
    

    Virus Total result of IguanaApp-0.1.5.1e-beta-osx.app.zip

    IguanaApp-0.1.5.1e-beta-linux-x64.tar.gz
    66e0494d33ed17aa6a9a13cfb3e975fbb34749aa68b064e79b48e703a73348c0
    

    Virus Total result of IguanaApp-0.1.5.1e-beta-linux-x64.tar.gz

    Downloads:https://github.com/SuperNETorg...



  • Security Bug Bounty Program: We Want A Bulletproof Komodo

    Technology can never be secure enough, and SuperNET believes that working with experienced security researchers across the globe is crucial in identifying weaknesses in any technology. If you find a security issue in our platform, we encourage you to notify us. We welcome working with you to resolve the issue promptly.

    Disclosure Policy

    • Let us know as soon as possible upon discovery of a potential security issue, and we'll make every effort to resolve the issue quickly.
    • Give us a reasonable amount of time to resolve the issue before making any disclosure to the public or a third-party.
    • Make a good faith effort to avoid privacy violations, destruction of data, and interruption or degradation of our service. Only interact with accounts you own or with the explicit permission of the account holder.
    • Public disclosure of vulnerability makes it ineligible for a bounty.

    Exclusions

    While researching, we'd like to ask you to refrain from:

    • Denial of service.
    • Spamming.
    • Social engineering (including phishing) of SuperNET staff or contractors.
    • Any physical attempts against SuperNET property or data centers.
    • Actively exploiting SuperNET or Komodo applications.

    The Security Bounty

    For now, our bug bounty program is limited to security bugs only, but if someone finds some other critical vulnerability, e.g. related to privacy, then we may discuss the possibility of a bounty. We define a security bug to be something which affects the blockchain, emission of KMD, economic damage, financial loss or other critical areas. Contact us if you are not sure.

    The security bugs are divided into several groups depending on their severity. The decision about the severity of each bug and the final bounty size is decided entirely between the SuperNET development and security team members.

    Hunt bugs either from Komodo or Iguana Core:

    Bug bounties are paid either in BTC or KMD, depending on your preference.

    Issues that are already known about are not eligible for a bounty reward.

    SuperNET and Komodo team members are not eligible for a bounty.

    Thank you for helping keep SuperNET and our users safe! Happy hunting!



  • KOMODO (KMD) NEW MINING POOL  - PPLNS Mining Pool - 1% Fee

    Hello miners, we are proud to announce http://komodominingpool.com/44 - NEW KOMODO COIN MINING POOL

    You can get Komodo Wallet and address here: https://supernet.org/en/products/agama1 AGAMA DESKTOP APP and discover new COIN here http://komodoplatform.com4

    HOW TO CONNECT stratum+tcp://komodominigpool.cloud:5555 ( Auto VarDiff - suitable for CPU and GPU ) stratum+tcp://komodominigpool.cloud:6666 ( HIGH VarDiff - suitable for big GPUs RIG )

    To mine KMD just use any ZCASH (EquiHash) miner example : ZecMiner64.exe -zpool komodominingpool.com:5555 -zwal komodo-address -zpsw x -allpools 1 example : ZecMiner64.exe -zpool komodominingpool.com:6666 -zwal komodo-address -zpsw x -allpools 1

    FEATURES - Personal mining stats - Stratum and auto vardiff for efficient mining - Payouts are done every 30 minutes. However, 101 confirmations for a block are required to receive a payment in your wallet. - 1% fees - Support with Gitter chat

    if you what mine with zcash t address please mine here http://www.zcash.cloud21

    Happy mining zcash users and new komodo user!



  • Komodo Currencies: Secure & Anonymous Currency Payments




    Komodo currencies create a direct and decentralized pathway from the cryptocurrency market into the traditional financial system; they ease users into the world of cryptocurrency and blockchain-based applications by providing a familiar medium of exchange.

    A bridge between the old centralized and the new decentralized financial infrastructures will help accelerate blockchain adoption. – Komodo Fiat Currency Whitepaper


    The beauty of it is that Komodo can offer access to centralized fiat currencies through an unique decentralized mechanism. Other systems, by contrast, often require users to trust a third party that maintains a reserve of the same amount of funds in the actual currency.


    The technology behind Komodo Currencies relies on two other innovative technologies called delayed Proof of Work (dPOW) and an atomic cross-chain swap protocol
    (DEX) as well as the Komodo blockchain. The dPoW protection mechanism
    allows these currencies to be as secure as the Bitcoin blockchain by
    attaching to the Komodo blockchain. The atomic cross-chain swap protocol
    lets users exchange the cryptocurrency in a decentralized and anonymous
    manner so that any currency can be easily converted to BTC.


    To maintain a price consensus each notary node connects to the European Central Bank (ECB) daily price feed, which provides a reliable price feed service which is used by numerous financial services around the world. To cover the weekend, when there are no ECB rates, three data points are projected from the Friday price point based on differentials from the previous week’s data, thus allowing the PAX to maintain a consensus at all times. The Notary Nodes record these raw prices onto the Komodo blockchain whenever they mine a block.

    All the nodes use the Komodo blockchain's price points to maintain a universal price consensus for each currency. Komodo coins (KMD) can be deposited and automatically converted into any Komodo currency since it is possible to calculate the exact conversion rate from those price points at any given blockchain height.

    Conversion process to Komodo Currencies

    This being the case, we have the necessary elements to allow users to easily adapt to blockchain technology and all the amazing features that the Komodo blocktech provides by giving users a familiar monetary unit that can be utilized by online merchants and payment services as fast and secure currency transactions.

    Komodo currencies will be released in two stages; the first stage will be a proof of concept where we will keep the currency supplies somewhat limited.

    You can learn more about our local Komodo currencies from its white paper. Stay tuned for the enhanced future release.

    Source:https://supernet.org/en/resour...




  • Komodo Platform will be attending M2020EU in Copenhagen.



    Event Homepage

    We are attending Europe's largest FinTech event in Copenhagen. The conference will last three days, and we have reserved a large booth where we can engage the biggest players in finance.

    Indeed, Komodo is a financial platform, and we have a lot to offer. Today's financial world is regulated by the laws and regulations that the jurisdictions around the world enforce, but we are creating a different kind of financial world. We could say that we have a self-regulating financial platform.

    Money2020 is our biggest conference so far, and it is not only about blockchain but rather about financial technology in general. We will use this opportunity to inform the whole financial sector about our technology. Our team is confident that we can use this chance to open new doors and to make new contacts.

    The conference will last from June 26th to 28th. If you are there, be sure to stop by and say hello.

    Source:http://mailchi.mp/9658cfb43cc2...

    We are a two-star sponsor, and that gave us the privilege to reserve a bigger booth and to send more team members. In total there are four of us, and we are flying to Copenhagen on Sunday. We are all very excited about the coming week.

    Ca333 is our security expert and developer. He has a deeper technical understanding about SuperNET and Komodo Platform. He is excited to take part in yet another conference.
    Alice is a SuperNET ambassador who's helping us in various ways. She understands our vision and technology and will be a great help when we are communicating with the people we meet.
    Audo is a marketing and content manager. He is mainly involved with Komodo Platform and is looking forward to explaining the vision for anyone who's interested.
    PTYtrader is a Komodo notary node operator and a support person in our team. He's been very involved in Komodo since the ICO and is now looking to share his enthusiasm in the conference.
    Here is what is happening on social media. Help our efforts on Twitter and tweet about #Komodo, #SuperNET, and #M2020EU.











  • Komodo [KMD] New Partnership Revealed & MONEY2020 SUMMARY




    MONEY2020 SUMMARY

    Exactly one month ago we attended the biggest FinTech event in Europe, the Money2020. During which time we made partnerships, and in this edition, we will reveal what happened. See the video below to listen to our thoughts after the conference.

    Summary of Money2020Europe FinTech Event

    CONTINUOUS NETWORKING

    There is more progress than meets the eye and our team has made accomplishments on many fronts. We approached a broad spectrum of people and businesses with the purpose of promoting our platform. These parties were interested in Komodo Platform and SuperNET because it is an open source blockchain project. It is easy for them to utilize our infrastructure and build their real world applications.

    As an example, one of our contacts will utilize Komodo's key/value storage technology. Our solution allows them to store data on Komodo's blockchain which is secured by Bitcoin’s hashrate. They also have the option to launch an “assetchain” (independent blockchain) using Komodo Platform. With the contacts forged during the conference, we now have the ability to exchange knowledge, share our vision, and plan for future collaborations or use cases. Below are some of the highlights and results.

    PAYMENT GATEWAY INTEGRATIONS

    One of the SuperNET’s goals is to facilitate Fiat to Crypto exchanges, and thus, the successful attendance to the Money2020 expo was a significant milestone. It allowed the team to establish relationships and showcase our technology. One of which are the Komodo Currencies (fiat-pegged assets).  When the BarterDEX is ready for public use, the tech will become available. To make the fiat pegged currencies usable, we need to find a way to integrate them into the established banking infrastructure. As an open source project, the SuperNET will not deal with regulation and KYC/AML policies; thus we will not be interacting directly with fiat currency gateways. However, third parties are encouraged to build on top of Komodo Platform’s global API. In other words, our project will remain open source while providing fiat based services to our users without compromising decentralization. Here's the bottom line: for crypto to succeed there must be sufficient bridges between the old and the new financial infrastructure. That is why third party platforms and integrations are important as we move forward.

    MONAIZE PARTNERSHIP

    In Copenhagen, we met an e-banking platform for small businesses and freelancers with a mission to empower entrepreneurs. They love technology, the blockchain, and innovation, just as we do, and so we immediately recognized the benefits we could provide to each other. A few days ago we flew to Paris to meet their team. We ate excellent food, talked a lot, and even paid little ping pong. Monaize is an e-banking platform and is registered as a financial service provider in France. Their team is just as dedicated, and we are impressed by what they have achieved.

    We are now working out different ways to
    collaborate to build a modern financial infrastructure. Both teams see
    the inefficiency in banking and are actively developing innovations. The
    potential is endless.

    Our team is very excited about this partnership, and its possibilities. Expect more news later.

    Let's make blockchain go mainstream.



  • Komodo [KMD] A Platform For Decentralized Society

    Blockchain technology is inherently exciting because of its disruptive nature, casting a shadow over many archaic industries. Thus many projects are born out of the idea of bringing an old industry into the new Blockchain era. In practice, however, very few go beyond that.

    Ultimately, the reason so many people are passionate about cryptocurrencies is not because they have the power to transform a single industry, but rather society as a whole. Komodo Platform aims to do just that: nothing less than to decentralize the whole world.

    This will by no means be a simple task. We have a long and hard road ahead of us, but we are off to a flying start and have made huge strides forward.

    Getting Up to Speed With Komodo

    Our project started back in 2014 with the vision of uniting crypto. The low-level development has been going on in stealth mode for a few years now, with the resulting inventions now used to power the Komodo Platform.

    Project history and future expectations on a timeline.

    2017 has seen our team grow substantially. We’re all driven by the firm belief that anything is possible when we put our minds to it. After all, changing the world requires more than just coding: it requires making the important step from invention to innovation.

    So, what do we do? Perhaps the best analogy is that of an Original Equipment Manufacturer (OEM). In other words, we provide solutions that others in the blockchain industry can build on top of. You could say that Komodo is to blockchain what Intel is to the hardware industry.

    Our Strategic Plan For A Prosperous World

    Our vision is of a flourishing, decentralized society. To get there necessitates making plans and goals which are calculated not in months but years or even decades.

    We have split our efforts into three separate objectives.

    • Technical objective: a robust platform
    • Nurturing objective: a thriving ecosystem
    • Empowerment objective: rapid adoption

    For mainstream cryptocurrency adoption to take place, there must be a streamlined ecosystem where modules work seamlessly together. In a decentralized society, such an ecosystem is not built by few in-house developers but rather by thousands of third-party projects working on top of the core platform. As the number of DApps and blockchain services start to increase exponentially, we fully expect regular users to start streaming in.

    The three strategic objectives for Komodo Platform.

    Before we can expect a third-party developer to develop concrete solutions for everyday users, the goal has been to build a complete set of tools. Our developers, most famously jl777, have been doing exactly that since 2014. We are still in deep development mode, and we continue to build more functionality into our platform on a daily basis.

    Now we’re approaching an exciting tipping point where other projects can start utilizing our platform. We have some novel solutions to offer developers and businesses; the phenomenon will only continue to accelerate as more and more developers come on board to use our technology.

    Blockchain technology is inherently exciting because of its disruptive nature, casting a shadow over many archaic industries. Thus many projects are born out of the idea of bringing an old industry into the new Blockchain era. In practice, however, very few go beyond that.

    Ultimately, the reason so many people are passionate about cryptocurrencies is not because they have the power to transform a single industry, but rather society as a whole. Komodo Platform aims to do just that: nothing less than to decentralize the whole world.

    This will by no means be a simple task. We have a long and hard road ahead of us, but we are off to a flying start and have made huge strides forward.

    Getting Up to Speed With Komodo

    Our project started back in 2014 with the vision of uniting crypto. The low-level development has been going on in stealth mode for a few years now, with the resulting inventions now used to power the Komodo Platform.

    Project history and future expectations on a timeline.

    2017 has seen our team grow substantially. We’re all driven by the firm belief that anything is possible when we put our minds to it. After all, changing the world requires more than just coding: it requires making the important step from invention to innovation.

    So, what do we do? Perhaps the best analogy is that of an Original Equipment Manufacturer (OEM). In other words, we provide solutions that others in the blockchain industry can build on top of. You could say that Komodo is to blockchain what Intel is to the hardware industry.

    Our Strategic Plan For A Prosperous World

    Our vision is of a flourishing, decentralized society. To get there necessitates making plans and goals which are calculated not in months but years or even decades.

    We have split our efforts into three separate objectives.

    • Technical objective: a robust platform
    • Nurturing objective: a thriving ecosystem
    • Empowerment objective: rapid adoption

    For mainstream cryptocurrency adoption to take place, there must be a streamlined ecosystem where modules work seamlessly together. In a decentralized society, such an ecosystem is not built by few in-house developers but rather by thousands of third-party projects working on top of the core platform. As the number of DApps and blockchain services start to increase exponentially, we fully expect regular users to start streaming in.

    The three strategic objectives for Komodo Platform.

    Before we can expect a third-party developer to develop concrete solutions for everyday users, the goal has been to build a complete set of tools. Our developers, most famously jl777, have been doing exactly that since 2014. We are still in deep development mode, and we continue to build more functionality into our platform on a daily basis.

    Now we’re approaching an exciting tipping point where other projects can start utilizing our platform. We have some novel solutions to offer developers and businesses; the phenomenon will only continue to accelerate as more and more developers come on board to use our technology.

    Komodo Platform Vision & Technology, Amsterdam June 2017

    Our mission is clear: to build a strong foundation for a thriving ecosystem, to nurture the growth of the digital economy and to empower the individual.



  • Komodo [KMD] Release v1.0.0-beta1

    1.0.0-beta1 release.

    Download:



  • Komodo - Extra Bonus for KMD holders on the upcoming Monaize dICO

    Monaize, our first dICO partner, recently released their much anticipated white paper. The whitepaper paints the picture of just how deep our relationship goes. On their whitepaper Monaize states:

    Our mission is to push the boundaries in innovation through a long-term partnership with the Komodo Platform. Our joint vision is to bridge banking and blockchain, and to help cryptocurrencies achieve mainstream adoption.

    Together, our teams have prepared at great length a strategy by which we can lead in the blockchain revolution.

    Monaize and Komodo have already developed a strong relationship and we will be working closely together to overcome existing barriers and push the boundaries of blockchain innovation in FinTech.

    DICO DETAILS

    Monaize, in collaboration with Komodo Platform is excited to be conducting the first decentralized token sale via “atomic coin swap”. When: Friday 20th October 2017 at 12pm (GMT) ICO Length: lasts for 30 days Accepted coins: KMD and BTC KMD Bonus: +20 % during the first 6 hours of the ICO

    LOYALITY REWARDS IN KMD

    Rewards are distributed on the 1st day of every month for MNZ token holders. Komodo Platform’s automatic reward distribution API crawls through the blockchain and creates a list with all public keys and their current holdings in order to distribute the rewards proportionally based on the percentage of MNZ tokens held.

    Token holders will receive rewards based on the number of monthly Monaize Business Account creations (new user sign ups and renewals in the Monaize iOS and Android banking applications).

    Read more from the Monaize ICO website and whitepaper.







    Read Whitepaper



  • Komodo On-Stage Presentation at the Bitcoin, Ethereum, & Blockchain Conference

    You may have heard about the massive Bitcoin, Ethereum, and Blockchain Superconference this coming February 16–18, 2018 in Dallas, Texas.

    It’s an annual conference where hundreds of blockchain enthusiasts from around the world gather to hear leading developers discuss ideas on how blockchain can change the world.

    This year, we’re on the menu!

    From the Komodo team, Jason Brown will present to the conference audience our advancements in decentralizing the ICO platform.

    He’ll be going over in detail our Jumblr and barterDEX technologies, how we made anonymous purchases during the ICO stage a reality, how we plan to implement the same Lightning Network employed by Bitcoin, and much more.

    If you’d like to get a preview, check out this fifteen-minute podcast where Jason sits down with the FutureTech team to discuss the nuts and bolts powering Komodo.

    Future Tech Podcast with Jason Brown: zk-SNARKs and Atomic Swaps



  • Komodo Investment Thesis

    By,

    Sylvain 'ArtPlay' Ribes

    Komodo Investment Thesis

    A laid-out .pdf version of this article is available: http://tinyurl.com/ybhxg5ff

    In this document we present why we believe Komodo to be a sound and lucrative investment, both short-term and long-term. We will start by reminding the reader of the current altcoin background, and then introduce how Komodo, by offering a decentralized exchange solution and running the world’s very first fully decentralized ICO, efficiently answers the most pressing concerns of the cryptosphere.

    We will then show how poor communication from the Komodo Team has led the token to remain seriously underpriced in spite of its technical prowess, further increasing its investment potential.

    Finally, by analyzing the Komodo token price history and examining both its competitors and underlying protocol capitalizations, we will assess both short-term and long-term expected returns, while analyzing why we believe the involved risk to be comparatively low.

    I. Current cryptocurrency ecosystem context

    The crypto-currency ecosystem has had an amazing year 2017. As of September 19, Bitcoin price surged from $1.000 to over $4.000. But even this four-fold increase pales in comparison to what happened to the overall crypto-market whose total capitalization went from little more than $17.7 billion to a gargantuan $139 billion.

    Excluding Bitcoin, the market cap of altcoins has surged from $2.2b to $73b a 33-fold increase literally dwarfing the massive Bitcoin returns.

    That explosion has mostly been fueled by the ICO (Initial Coin Offering) craze that has swept over the crypto-ecosystem, and the exposition it brought along with it. The unspoken promises of higher-than-ever returns are bringing more and more newbies into what was originally a very obscure ecosystem. As of mid-July, $1.3 billion had been raised in 2017[1], and ICO-funding had until recently showed only little sign of slowing down.

    While ICOs represent a very good way to launch start-ups while empowering the people with the ability to fund them in transparent terms, it is undeniable that the initial enthusiasm of would-be investors has slowly turned into a frenzy, largely entertained by the start-ups that keep asking for more and more money.

    The latest SEC rulings[2] and the more recent Chinese crackdown on ICOs[3] have been a stern reminder for investors and start-ups alike that regulations still applied even to a “tokenized” economy. It has naturally started to weaken the ICO concept: more and more of them have to jump through hoops to avoid being classified as securities, end up banning Chinese or American citizens from participating and force investors to adhere to strict KYC — Know Your Customer — policies. Bittrex, a leader in the altcoin exchanges, in spite of being previously known and criticized for adding just about anything to their platform, has yet to list a single new ICO-token since Civic on July 17.

    This is all bringing cryptocurrencies further and further away from their initial ideals of privacy and individual sovereignty. If you’re only ever capable to acquire new tokens (be that currencies or assets) through centralized exchanges that require you to register your passport into their centralized servers, how is that any different from simply applying for yet another bank account at your local branch? Worse, it may end up discouraging legit businesses from raising capital through an ICO.

    Solutions have to be found that maintain the appeal of crowd-investing to newcomers and yet guarantee the utmost levels of privacy and freedom to barter, from anywhere, with anyone.

    Komodo’s many features solve this predicament perfectly.

    II. What is Komodo?

    Komodo is an ambitious project that aims at

    - Allowing anonymous transactions through a zk-SNARK protocol, - offering a decentralized exchange platform using atomic cross-chain swaps, - running the very first “decentralized-ICO” for a product called Monaize[4].

    And securing the whole thing with a “delayed Proof of Work” mechanism (dPoW) that allows Komodo to benefit from the same level of security as the Bitcoin blockchain.

    This impressive list of boasts is both Komodo’s strength and weakness. To who takes the time to investigate the project, the value proposition becomes evident, in spite of its challenging aspirations. To those who do not, or lack the knowledge to fully grasp it, it sounds like mumbo-jumbo and they soon discard it as a potential investment. Let’s delve into it.

    The Komodo ICO and Zcash

    Komodo was initially funded through an ICO. They raised 2636.37BTC, worth $1,983,781 at the time of the sale’s conclusion[5]. Out of it, 90% were distributed in the form of KMD tokens, while 10% were kept for development, marketing and bounties.

    Komodo is a Zcash fork, and boasts the same privacy features. Zcash was developed by a team of world-class cryptographers and the way it handles privacy and the anonymity of transactions is arguably the best in the whole cryptospace. Although dubbed a “corporate coin”, its open-source code allowed the Komodo team to integrate Zcash privacy technology into their own platform.

    Komodo and Zcash share the same Equihash PoW mining. Without entering into unnecessary technical details, it is noteworthy, since the Equihash algorithm has been designed to be ASIC resistant[6]. Bitcoin’s mining centralization is proving to be a very contentious, almost crippling issue, and it is a step towards making sure neither Komodo nor Zcash suffer the same flaw.

    They however radically differ: Komodo adds a second “dPoW” mining layer, and their issuance schedules have nothing in common.

    The “delayed Proof-of-Work” mechanism

    dPoW is a brand new consensus mechanism that provides Bitcoin security to all other dPoW chains[7]. The objective is two-fold: enhance Komodo’s security and allow third-party blockchains to similarly use the Komodo blockchain as an additional security layer, also benefiting from a Bitcoin-grade security by proxy.

    Conceptually, the idea is simple and depends on so-called “notary nodes”. There are in total 64 notary nodes; the people who run them are elected by the Komodo community on the basis of their technical knowledge. Notary nodes have to regularly notarize Komodo’s block hashes by recording them into the Bitcoin blockchain. Thus the Komodo blockchain history cannot be altered without also changing Bitcoin’s blockchain history.

    Notary nodes are incentivized by a lesser mining difficulty, which allows them to secure a monthly wage in payment for their technical expertise.

    BarterDEX and the SuperNET legacy

    Komodo initially started as the flagship token of a broader project called SuperNET. In investment terms, this is clearly another double-edged feature. SuperNET has been around since 2014, and was originally designed to create services on top of NXT.

    Much like NXT itself, in spite of getting quite a bit of attention and praise from the technical community, SuperNET always failed to garner momentum and to yield the returns that simpler assets provided.

    SuperNET ended up separating from NXT entirely and jl777, the anonymous lead developer, had to entirely re-wire the infrastructure of his ambitious project. Thus Komodo was born to be the cornerstone token of the SuperNET framework. [8]

    The team has recently decided to rebrand the whole ecosystem as “Komodo” and “Komodo Platform”, and SuperNET should take the backseat and no longer be mentioned in their marketing material.

    The newly baptized Komodo Platform has a host of valuable features. It is worthwhile to mention JUMBLR, a decentralized and trustless mixer, effectively capable of rendering any bitcoin or bitcoin-forked coin anonymous. The platform also supports pegged fiat assets that solve the problem of price volatility by attaching themselves to the value of stable currencies like the Euro or the US Dollar[9].

    Given the current regulatory context in the crypto ecosystem the most invaluable product should however prove to be BarterDEX, a fully decentralized exchange that allows people to trade coins without a counterparty risk[10]. It relies on the much discussed atomic swaps to safely and directly exchange ownership of coins on two separate blockchains, and on a system of Liquidity Provider nodes that act as market makers to kickstart the available liquidity.

    BarterDEX rids the user of all the usual centralized exchanges problems: listing denial (Bittrex), unilateral coin delisting, and more importantly thefts (MtGox), hacks (Bitfinex) and legal or regulatory seizures (BTC-e).

    Within this ecosystem the KMD token will be used as fuel to pay for the JUMBLR and the BarterDEX fees, further increasing its utility and value.

    Decentralized ICOs[11]

    Whether in the field of decentralized exchanges or privacy protocols and currencies there is an undeniable amount of well-established competition. When the Komodo team announced after much teasing they would be hosting the first ever decentralized ICO, Komodo secured a strong first-mover advantage and took everyone by surprise, for two very distinct reasons.

    Firstly because the idea in itself is brilliant. Hosting decentralized ICOs will allow Komodo to showcase all of its best features, from JUMBLR to the atomic swaps, through the notarized security of their dPoW consensus mechanism. The concept will allow willing projects to transparently raise funds while maintaining investors’ privacy. In other words they will be able to free themselves from any legal constraints and regulatory framework if they wish to. Finally, decentralizing the nodes of purchase during the ICO should deter whales from monopolizing most of the initial supply, and later manipulate the market as they see fit[12].

    Secondly because the news was delivered in the most disastrous possible way. After roughly 10 days of a very neat and professional social media campaign, the KMD token price had gone from 30.000 satoshis (0.0003 bitcoin) to 80.000 satoshis. The announcement was then made on a YouTube live feed on September 8:

    A snapshot from the infamous video announcement

    A picture speaks a thousand words, but this one yet fails to convey the full extent of how badly the presentation screamed of amateurism. An ugly setup, a stuttery 8 FPS frame rate, a buggy microphone and three obviously uncomfortable gentlemen triggered an instantaneous and massive dump in the KMD token price. Within minutes it went from 86k satoshis to 66k satoshis. Quickly it hit 50k then 40k, and is now back in the 50k range, as of 26 September.

    There is a saying in trading, “buy the rumor sell the news”, that often applies well to cryptocurrencies. But rarely has it applied in such a spectacular fashion, especially not when the news were so positive.

    Far from being a crippling blow, this display of PR amateurism should give the savvy investor a cheap entry point into an asset that combines technological prowess with a remarkable awareness of the needs of the crypto-space, catering to its most pressing issues: user sovereignty, privacy, and the empowerment of ICOs potential.

    III. Komodo’s strengths and caveats

    Aside from Komodo’s strong technical features, many other details bear mentioning that directly influence the current token price and its future evolution.

    Interest revenue and inflation schedule

    One factor often overlooked by amateur investors and traders is the inflation schedule. 100 million Komodo tokens have been issued after the ICO. The final supply shall be 200 million tokens, and is expected to be reached within 14 years.

    The new tokens are minted in two different ways:

    - Each newly mined KMD block gives the miner a reward of 3 KMD. A new block is mined every minute. In total, 1.57 million KMD tokens are mined each year. - Each KMD holder is entitled to a 5% yearly interest payment.

    As a consequence, even though the total inflation will be 100%, anyone who’s holding KMD tokens only suffers the very mild mining inflation. 1.5>#/strong### in the first year, and decreasing as more and more people receive interest payment.

    As a comparison, here are the approximate inflation rates for several well-known crypto-currencies in 2017:

    Komodo - 1.5% Bitcoin - 4% Ethereum - 13% Monero - 13% Dash - 10% Litecoin - 10.4>#/strong###

    Investment-wise, this is a strong argument in favor of KMD.

    Plus, a case could be made that the 5% interest revenue is a particularly effective strategy to attract new money and gather attention. Anything that sounds like “free money!” is usually very attractive to the public. It also encourages long-term holding and thus helps build a strong grassroots community. Finally, more people choosing to keep the token in their own wallet obviously generates scarcity, which drives prices upwards.

    A rather obscure product

    Komodo is a complex product which is not simply or quickly explained, as this document perhaps shows. What is more, the resources that should explain it are scattered across different websites: the Komodo Website, the Komodo blog, the SuperNET website… and the main Komodo website is being restructured, making many links previously indexed by Google or quoted on forums obsolete.

    Seeing how difficult it is to grasp what Komodo is about, how it articulates with the SuperNET project, and seeing how people in 2017 have been flocking towards obscenely well marketed crypto-currencies rather than towards sound technologies, it is already remarkable that it managed to reach a $180 million market cap despite rather poor exposition and advertising.

    Far from a liability, in investment terms this could prove a huge advantage. Firstly because the team claims to have learned from the September 8 announcement fiasco, and has “added several new members to [their] team that explicitly focus on: marketing strategy; content creation; social media; and public relations”. If that is done properly it could tremendously bolster Komodo’s attractiveness and price.

    Secondly because as far as investment goes, focusing only on positive returns is utterly unrealistic in any market, even more so within the crypto ecosystem. With this year’s explosion in market cap, many people fear an imminent altcoin bubble burst; while it may never happen, it is certainly a good idea to account for the eventuality. And in the event of a crypto-wide price correction, Komodo’s technical and time-consuming barriers to entry will prove to be a strong asset to resist an oversized price drop. Because whenever prices crash, the first individuals to sell are always the ones that bought an asset they did not understand or properly appraised because of a shiny marketing and/or the promise of large returns. Those that took time to study the value proposition usually manage to resist the selling pressure.

    An anonymous developer leading a seemingly overreaching project

    The mind behind the Komodo platform goes by the name “jl777”. He has been working continuously on SuperNET since 2014, but always remained anonymous. Again, having a pseudonymous developer cuts both ways. This time however, it is mostly a liability: people like being able to reference to a figure of authority. Imagine Steve Jobs, imagine Elon Musk, or think of the god-like status Vitalik Buterin enjoys in the Ethereum community.

    The obvious counterexample is Satoshi Nakamoto, the mysterious entity that created Bitcoin. Far from hindering Bitcoin growth’s, Satoshi’s mythical status is now both catalyzing and protecting it, as there is no central figure of authority to slander or attack in any way.

    But these perks shall only reveal themselves down the line, if and when Komodo fulfills its goals.

    As ambitious as these goals might seem, it is refreshing to notice how grounded they actually are. For once a currency does not aim at “overtaking Bitcoin” or pretend it is “better than Bitcoin”, while in fact necessitating mass adoption to even guarantee the basic security of its blockchain. In that regard, Komodo acknowledges the current superiority of the Bitcoin blockchain, and smartly builds its dPoW layer upon it. This shows an acute sense of realities and a no-nonsense frame of mind, very much like the idea of the decentralized ICOs do. Elegant yet accessible solutions to actual problems.

    IV. Price and competition: putting a KMD investment into perspective

    Fundamental analysis of traditional, real-world securities usually gives a broad estimate of how stocks should be priced. One could carefully analyze the income statements, cash flows and growth sheet of a given company, deduce that its market cap should be in the ballpark of $10 billion and buy or sell its stock accordingly. But within the crypto ecosystem, it is generally unwise to try and guess what the price of an asset “should” be.

    Graham and Buffet rules do not apply in this world

    That is because, in spite of its tremendous growth, almost no real-life use-cases exist for cryptos yet, and the entirety of their value is speculation, based on how likely the market deems them to be successful, and on how much it expects they will be worth once they actually deliver.

    For that reason, it is generally wise to compare crypto-assets with one another to evaluate their relative value, rather than focusing on a theoretic absolute value. An example would be to reason the following:

    “I believe that Monero’s privacy tech is much better than Dash’s. However Monero’s market cap is $1.4b while Dash’s cap is $2.4b. In the long run this makes no sense! Hence I will buy Monero and/or sell Dash.”

    The rather uniquely ambitious scope of the Komodo Platform thus makes it even more difficult to ascertain what its price “should” be, because it has no feature-for-feature competitor. Some may however prove useful references. Starting with Zcash, from which Komodo inherited its privacy features, and Dash, one of the top “privacy contenders”.

    Komodo and Zcash vs Dash

    It does not make obvious sense to compare Komodo’s $180M capitalization with Zcash’s $500M. They are not adversary, but synergetic, as Zcash can be seen as the protocol underlying the whole Komodo ecosystem.

    Zcash however is often opposed to Monero and Dash as they are the three most promising privacy-oriented coins.

    Zcash’s market cap is currently about $500 million, while Komodo’s is about $180 million. As far as privacy alternatives go, Zcash is often compared to Monero and Dash. Dash is a particularly interesting case study, as its development path has been the complete opposite of Komodo’s.

    Dash is the prime example of a marketing-fueled growth. It has most likely been throwing millions at sponsored YouTube shows, Facebook posts and blogs, content creation, even at billboards and bus ads[13]! The marketing campaign worked incredibly well, Dash climbing from a $78 million market cap at the beginning of the year to a staggering $2.6 billion as of 26 September.

    And all the while people were buying into the PR campaign, they remained completely oblivious to the numerous critics of Dash’s anonymity, unfair instamine and inactive GitHub page. Even a very recent paper from Princeton researchers, successfully tracking supposedly anonymous PrivateSend transactions, has had no repercussion on its price whatsoever.

    In the same paper, researchers conversely reminded that Zcash “[provided] cryptographic untraceability, which is a stronger (and provable) anonymity property”[14].

    Marketing-fueled growth can only last so long if it is not backed by trustworthy evidence of a technically sound product. And when Dash loses its position of number one privacy-centric cryptocurrency, both the attention and the $2.4 billion dollars will go flocking towards its competitors, Monero and Zcash, further catalyzing the growth of the leading Zcash implementation: Komodo.

    Finally, the Dash example show how profitable a good PR campaign could be for Komodo, if the team makes good on its promise to improve on its communication.

    Komodo and BarterDEX vs Exchanges

    The demand for decentralized exchanges is obvious. Even the very crude and amateurish EtherDelta, lacking even the most basic order matching feature, sees a daily $7 million volume.

    Upcoming projects are numerous. 0x has raised $24 million in an ICO earlier in August, and is already valued at $100 million. The KyberNetwork ICO was a huge success, raising $60 million with absolutely no difficulty in spite of the recent Chinese ICO crackdown, and is already valued over $300 million. Consensys-backed OmegaOne and AirSwap projects should both ICO later this year, and will doubtless value themselves around $100 million.

    At the present time, very few people realize that Komodo is about to become fuel for a fully-fledged decentralized exchange, or that the KMD team has actually been pioneering atomic swaps for months[

    ] and has very recently managed to do so from a light client[]. In the short-term, when BarterDEX goes live for the Monaize ICO, it will undoubtedly garner much of the attention and capital that people have so far been giving to ICO-ed decentralized exchanges and protocols.

    The Monaize ICO

    It serves well to finally mention the fundraising objective of Monaize, as the measure of success they’ll enjoy should have a very significant impact on the short term price. According to the whitepaper their minimum objective is 1.000 BTC, while they set the hard cap at 10.000 BTC. At today’s rate, that is between $3.6 million and $36 million.

    The amount of media exposure of the Monaize ICO will definitely redound on Komodo. But it will also have a much more significant and mechanical impact.

    Indeed the token sale process greatly incentivizes people to buy in Monaize by using KMD tokens, by offering a 20% bonus to whomever contributes KMD rather than BTC[17]. This will mechanically affect Komodo’s price, as people will need to first acquire KMD tokens if they want to participate in the token sale.

    Komodo’s market cap is around $180 million. If Monaize hardly reaches its minimum cap, the impact will be close to none. If it however enjoys even a half measure of success, injecting as little as $10 million into a $180 million capitalization can go a very long way. It would be very incorrect to think that it would simply bump the capitalization to $190 million: enthusiasm in markets is contagious, and each KMD token bought at a given price makes the next one more expensive.

    What is more, the Monaize team has let it be known that they would hold a sizeable fraction of their KMD tokens and not convert them to fiat currency, ensuring that the price will not immediately drop back.

    V. Expected return and conclusion

    Komodo offers a great investment opportunity, both for the short-term speculator and the long-term investor. The first target should be the Monaize dICO. The fact that after the 8 September fiasco both teams appear to be pulling their weight in the intensifying PR campaign, coupled with the favorable “all things decentralized” climate, should allow Komodo to test its early September highs of 80k satoshis once again. Whether it will later fall back into the current 45k satoshis range, or finally manage to crack that resistance is anyone’s guess, but it will hinge on two things:

    - Success of the Monaize ICO. If they reach their 10k BTC hard cap, the massive influx of capital should easily bolster the KMD token price beyond 80k satoshis - User experience with the BarterDEX. A functional, liquid and user-friendly decentralized exchange, will give a tremendous amount of exposure of exposure to KMD, which has so far been relatively unnoticed in the cryptospace.

    Although somewhat correlated, a strong success with any of these two things will doubtless bring immediate market awareness to Komodo.

    If both missions fail, the downside risk should however be mitigated by a strong support in the 30k satoshis range, and by the aforementioned fact that Komodo’s supporters should prove less fickle than those of most marketing-fueled cryptocurrencies. Many of the core supporters of the currency have been following SuperNET since its inception, and are unlikely to be deterred by short-term market movements.

    For the same reason, even if the crypto market as a whole were to crash, it is likely that Komodo would retain more of its value than most other assets, making it a comparatively lower-risk investment.

    Many of the top 15 currencies valuations, all over $500 million, are based on the extremely speculative idea that they might overtake Bitcoin or Ethereum. Thanks to its realistic approach to growing a blockchain platform directly pegged to Bitcoin’s security via the Notary Nodes, Komodo does not need a quasi science-fiction narrative to be secured or to succeed, but is very much turned towards the present use-cases of the “blockchain technology”.

    Regardless of short-term success, future dICOs and successive technological achievements will put KMD on the map for good. Without showing excess optimism, Komodo should eventually ease itself into the top 15, or even top 10 currencies, which in today’s markets would at least bring its valuation between $500 million and $1 billion, a minimum three to six-fold return from its present price.

    ArtPlay



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