Overall Guide On Komodo Crypto
Komodo Crypto, often known as Komodo (KMD), is a privacy-focused decentralized cryptocurrency that uses its ecosystem to claim to be quicker, safer, and easier to use. According to rumors, it combines Zcash’s privacy and the security of Bitcoin. It operates according to the delayed Proof of Work theory. The Komodo Crypto was launched in 2016 and has a market capitalization of around $116 million at this time (as of July 7, 2021). To learn more about the Komodo Coin cryptocurrency price and where to purchase Komodo Coin from this article so keep reading.
Table of Contents
What is Komodo Crypto ?
Komodo platform is a multi-chain open blockchain. Komodo gives initiatives the chance to launch token sales and build their blockchains. A hard fork from Zcash is called Komodo. The privacy-focused fork of Bitcoin is called ZCash.
Thus, Satoshi Nakamoto’s groundbreaking work and the Bitcoin protocol serve as the foundation of Komodo. It incorporates technologies from both Zcash and Bitcoin.
The anonymity protections included in Zcash are preserved via the Komodo Smart Chain software. These essentially consist of the capability to transfer money from one private address to another after converting it from a transparent address to a private address. Money may be transferred between two private addresses using Zcash technology without leaving a public data trail.
Given that the anonymity provided is permanent, this is one of the most potent blockchain privacy models currently available.
With origins dating back to 2014, Komodo Crypto is one of the pioneers in multi-chain integrations. Since 2019, Komodo has concentrated on offering blockchain solutions that are suitable for businesses, with an emphasis on security, scalability, interoperability, and simplicity of use.
A customizable, application-specific Smart Chain, along with a library of built-in modules and an open API for creating blockchain apps, are among the end-to-end blockchain development tools offered by Komodo’s Antara framework.
KMDT Crypto Coin
The KMD coin serves as the Komodo network’s official currency. Because of the dPoW consensus algorithm, KMD is a crucial component of the Komodo network. Without a cryptocurrency, the consensus process would not function.
Komodo mining may be possible, and the network will issue 200,000,000 Komodo altogether. The coins are mined via the Equihash algorithm, much like Zcash (ZEC). Currently, there is a little more than 120 million KMD in existence. In 2030, the final coin is anticipated to be produced.
The first offering of KMD took place from October 15 through November 20, 2016. 7747 KMD were supplied for every 1 BTC at the time, or $ 0.376, making one KMD available for 0.00012908222 BTC.
2,639 BTC were raised during the ICO, translating to around $ 2 million at the time. During the crowd sale, exactly 100,000,000 KMD was spent, and 90% of the coins were bought by investors. The remaining 10% was set aside to pay for Komodo’s marketing and development expenses.
KMD CoinMarketCap ranks 70 out of 100 stocks by market capitalization. The ROI is 477% overall. Out of the 200 million KMD, 120 million are now in use. KMD all time the high price was attained on December 21st, 2017, and was $11.61. The ATL for March 13, 2017, is $ 0.002143.
The Komodo crypto development team has been working hard and has just released some fantastic enhancements. For instance, the group launched Dilithium in March 2019, a blockchain module with quantum security built using the Komodo Antara Framework. Dilithium is therefore compatible with all Komodo ecosystem-based projects.
Komodo later that year unveiled AtomicDEX, a wallet and exchange combined. This enables peer-to-peer trade.
The SPV payment verification technology, the Adaptive Proof of Work (APoW) consensus process, AtomicDEX testing, and the upgrading to Komodo v0.5.0 with Defi solutions are some more innovations made by the Komodo team.
The Komodo team will devote much of 2020 to developing the Komodo Core, the Antara Framework, and AtomicDEX.
The “core” of the project, the Komodo Core, requires ongoing care to operate at its best.
Enhancing efficiency and raising performance are many areas of concentration.
Framework of Antara
The software used to create Blockchains built on the Komodo protocol is called the Antara Framework. The redesign and improvement of the Antara Framework are one of the roadmap’s focal elements.
One of the platform’s significant releases in 2019 was the inclusion of a decentralized exchange and wallet in Komodo. To better serve its consumers in 2020, it will be upgraded, enhanced, and provide new services.
How is Komodo purchased?
Purchase a Ledger hardware wallet to keep your Komodo items safe.
Security and coin ownership are the two things that matter most when investing in cryptocurrencies.
The easiest method to manage and keep your cryptocurrency safe while keeping it fully accessible is using a hardware wallet.
Purchase Komodo via trading websites
Komodo may be bought on cryptocurrency exchanges using fiat money. You may purchase coins with them using dollars, pounds, euros, etc.
Komodo may be purchased straight on the exchange using a credit/debit card or a bank transfer.
You must first establish and authenticate your account by providing certain personal information data to purchase Komodo on exchanges. You’ll be able to start purchasing Komodo as soon as the exchange gives its approval.
Add your Komodo hardware wallet to your digital wallet.
Simply transfer your money from your exchange to your hardware wallet for Ledger. To accomplish so, you’ll need to utilize the Ledger Live app. After setting up a Komodo account, transfer your money from your exchange to the Komodo address you just generated.
Your Komodo will then be safeguarded, and you may use a single app to check your balance, manage your Komodo, and manage more than 1800 other assets. Securely.
Komodo Coin Value in Crypto
The price of a Komodo (KMD) coin is $0.9016 at the moment this article is being put up (06:12 PM IST, July 7, 2021). The high/low price of the Komodo coin on July 6, 2021, was $0.7995/$0.5948, hence the price has increased by 30% from yesterday. The 90-day high price, which was $4.71 on April 8, 2021, is substantially lower than the present price, which is much lower. KMD’s price fell to its lowest point in October 2020, when it was about $0.3773
How to buy Komodo Coin
One may purchase Komodo Coin KMD on a cryptocurrency exchange like WazirX or Bitbns.
One must register for an account on the aforementioned exchanges to purchase Komodo Coin. The investor’s name and bank account information are requested throughout the account creation procedure.
One may need to submit a Pan Card for the verification procedure. After the verification is complete, Komodo Coin may be purchased using a credit or debit card that has enough money on it.
Komodo Price Prediction
Komodo Coin’s price is predicted by websites and professionals based on its historical performance. The Komodo Coin price will increase to $0.945 in the next year, according to Wallet Investor. The same publications forecast that Komodo Crypto will increase to a high of $2.396 during the next five years. These are just forecasts, therefore they may or might not come to pass in due course. According to Digital Coin Price, a different source, the price of Komodo Coin might rise to $1.38 in 2021, $1.56 in 2022, and $2.73 by 2025.
Is buying Komodo Crypto a good investment?
Komodo saw 11/30 (37%) green days in the last 30 days. Our historical data shows that investing in Komodo is now lucrative.
Komodo crypto: what is it?
A decentralized, open-source, end-to-end blockchain and cryptocurrency platform called Komodo (KMD) is made to enable developers from any sector to carry out transactions secretly. 2014 saw the creation of the Komodo platform, which was forked from Zcash by an unidentified organization headed by a person using the alias JL777.
What stores sell Komodo coins?
On a cryptocurrency exchange like Coinbase or Coinmama, you may purchase Komodo with a credit or debit card. Before making a purchase, you must first establish a Komodo wallet (an account) and get it authorized.
The Komodo coin is rising why?
After a significant effort to increase compatibility with AtomicDEX, Komodo (KMD) has increased by 54%. After the project revealed intentions to establish an NFT collection and expanded support for 13 blockchain networks, KMD’s price increased.
Why is KMD currency used?
The Komodo platform‘s native money is KMD, which can be used to launch DApps, pay transaction fees, and cast votes for Notary Nodes (dedicated servers). Komodo also seeks to assist developers in conducting transactions while maintaining their anonymity.