{"id":8856,"date":"2023-07-20T20:26:30","date_gmt":"2023-07-20T20:26:30","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=8856"},"modified":"2022-05-12T15:33:06","modified_gmt":"2022-05-12T15:33:06","slug":"what-is-komodo","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-komodo","title":{"rendered":"What is Komodo?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-komodo\/#how_does_komodo_work\" >How does Komodo work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-komodo\/#where_to_buy_or_get_komodo\" >Where to buy or get Komodo?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-komodo\/#where_to_store_my_kmds\" >Where to store my KMDs?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><div>Today we are going to talk about what Komodo is and how the development of this cryptocurrency has provided innovative technological advances for the crypto world.<\/div>\n<div><\/div>\n<div>It is normal that you have never heard about this crypto ecosystem and just think that when we talk about Komodo, we are talking about an island in Indonesia, Thailand or something like that. And it really is, you can see it with this incredible photo that Juliana, our designer, has left below.<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_1763406685\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large ls-is-cached lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/%C2%BFQue-es-komodo.jpg\" sizes=\"(max-width: 648px) 100vw, 648px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/\u00bfQue-es-komodo.jpg 648w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/\u00bfQue-es-komodo-300x206.jpg 300w\" alt=\"Islas Komodo Bitnovo\" width=\"648\" height=\"444\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/\u00bfQue-es-komodo.jpg 648w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/\u00bfQue-es-komodo-300x206.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/03\/\u00bfQue-es-komodo.jpg\" data-sizes=\"(max-width: 648px) 100vw, 648px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div>Who could be on the Komodo beaches, reading this article about Komodo, while a Komodo Dragon serves us a glass of very fresh champagne. So comfortable.<\/div>\n<div><\/div>\n<div>Well now, let\u2019s stop dreaming.<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div>Komodo (KMD) is an open source decentralized cryptocurrency that was launched in September 2016 as an evolution of BitcoinDark (BTCD). Both cryptos have been created by the same developer known as \u201cjl777\u201d and the underlying software was forked from Zcash.<\/div>\n<div><\/div>\n<div>KMD aims to offer great privacy to its users and tries to provide a faster, safer and more decentralized cryptocurrency with its own established ecosystem.<\/div>\n<div><\/div>\n<div>As if this were not enough, Komodo includes a decentralized crypto exchange and allows you to improve the privacy of your transactions through a cryptocurrency anonymizer.<\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_does_komodo_work\"><\/span><strong>How does Komodo work?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Komodo could be defined as an ecosystem rather than just a cryptocurrency, and the main parts of this integrated ecosystem are:<\/p>\n<p><b>\u2013 AtomicDEX\u00a0<\/b><\/p>\n<p>Komodo cuenta con un\u00a0<b>exchange descentralizado<\/b>\u00a0que se promociona como \u201cel \u00fanico exchange descentralizado de la industria\u201d y cuenta con la<b>\u00a0primera aplicaci\u00f3n m\u00f3vil del mundo que utiliza la tecnolog\u00eda de atomic swap<\/b>\u00a0o intercambio at\u00f3mico. Es seguro, sin custodia, y permite intercambiar monedas digitales de par a par.<\/p>\n<p>Tambi\u00e9n, su capacidad de realizar atomic swaps posibilita que los usuarios puedan intercambiar tokens EHT o ERC a BTC u otros activos con base en UTXO.<br \/>\nEn este sentido, quedan atr\u00e1s las restricciones de otros DEX a la hora de realizar intercambios criptos e incrementa las opciones a disposici\u00f3n.<\/p>\n<div><strong>\u2013 AtomicDEX<\/strong><\/div>\n<div>\n<p>Komodo has a decentralized exchange that is promoted as \u201cthe only decentralized exchange in the industry\u201d and has the first mobile application in the world that uses the technology of atomic swap or atomic exchange. It is safe, non-custodial, and allows you to exchange digital currencies peer-to-peer.<\/p>\n<p>Also, its ability to perform atomic swaps allows users to exchange EHT or ERC tokens to BTC or other assets based on UTXO.<br \/>\nIn this sense, the restrictions of other DEXs when carrying out crypto exchanges are left behind and increase the options available.<\/p>\n<\/div>\n<div><strong>\u2013 Delayed Proof-of-Work (dPoW)<\/strong><\/div>\n<div><\/div>\n<div>This \u201cdelayed proof-of-work\u201d consensus algorithm was created by Komodo and is the one it currently uses. It is a version of the Proof of Work consensus algorithm but it uses the hashpower of the Bitcoin blockchain to increase the security of the network.<\/div>\n<div><\/div>\n<div>In this way, they not only secure the network itself, but also the blockchain of any third party that ends up joining the Komodo ecosystem in the future.<\/div>\n<div><\/div>\n<div>Every 10 minutes, the Komodo system captures its own blockchain and registers it with a block on the Bitcoin network. This is called \u201cnotarization\u201d and it works like a backup that strongly raises security levels.<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div><strong>\u2013 Jumblr<\/strong><\/div>\n<div><\/div>\n<div>This is the anonymizer that we referred to previously and that serves so that you can change eg. Bitcoin by Komodo anonymously. This occurs through an atomic cross-blockchain swap and once the BTC has been exchanged for KMD an anonymous transaction is made (protected by zero knowledge tests). This transaction will be in charge of cutting all the links to the Bitcoin blockchain that entered Jumblr.<\/div>\n<div><\/div>\n<div>Thus, nothing in the process can be traced and anonymous transactions (protected by zk-snkars) cannot be observed by anyone else.<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div><strong>\u2013 KMD Token<\/strong><\/div>\n<div><\/div>\n<div>The Komodo ecosystem has its own cryptocurrency that bears the exact same name and its initials are KMD. This crypto was launched through an ICO (initial coin offering) in 2016 and in which about 90 million Komodo tokens were distributed.<\/div>\n<div><\/div>\n<div>It is worth clarifying that the cryptocurrency has a total supply of 200 million tokens and 100 million have been mined (90 granted in the ICO and 10 reserved for future developments).<\/div>\n<div><\/div>\n<div>It is to highlight that users who maintain Komodo receive an annual percentage of 5% until the maximum supply is achieved.<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_1121825430\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/%C2%BFQue-es-komodo__2-1024x768.jpg\" sizes=\"(max-width: 1020px) 100vw, 1020px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/\u00bfQue-es-komodo__2-1024x768.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/\u00bfQue-es-komodo__2-300x225.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/\u00bfQue-es-komodo__2-768x576.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/\u00bfQue-es-komodo__2-1536x1151.jpg 1536w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/\u00bfQue-es-komodo__2.jpg 1601w\" alt=\"\u00bfQue es komodo? Bitnovo\" width=\"1020\" height=\"765\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/\u00bfQue-es-komodo__2-1024x768.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/\u00bfQue-es-komodo__2-300x225.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/\u00bfQue-es-komodo__2-768x576.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/\u00bfQue-es-komodo__2-1536x1151.jpg 1536w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/\u00bfQue-es-komodo__2.jpg 1601w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/09\/\u00bfQue-es-komodo__2-1024x768.jpg\" data-sizes=\"(max-width: 1020px) 100vw, 1020px\" \/><\/div>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"where_to_buy_or_get_komodo\"><\/span><strong>Where to buy or get Komodo?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div>The exchanges currently trading Komodo are:<\/div>\n<div><\/div>\n<div>\u2013 Bittrex<\/div>\n<div>\u2013 Cryptopia<\/div>\n<div>\u2013 Upbit<\/div>\n<div>\u2013 CoinExchange<\/div>\n<div>\u2013 Binance<\/div>\n<div>\u2013 HitBTC<\/div>\n<h2><span class=\"ez-toc-section\" id=\"where_to_store_my_kmds\"><\/span><strong>Where to store my KMDs?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div>Once you have your Komodos you can decide to remove them from exchanges to store them in private wallets including:<\/div>\n<div><\/div>\n<div>\u2013 Nano Ledger S<\/div>\n<div>\u2013 Trezor<\/div>\n<div>\u2013 Komodo Paper Wallet<\/div>\n<div>\u2013 Komodo Ocean QT (official wallet)<\/div>\n<div>\u2013 Verus Agama<\/div>\n<div>\u2013 Save Wallet<\/div>\n<div>\u2013 Zel Core<\/div>\n<div>\u2013 Pungo Wallet<\/div>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>Today we are going to talk about what Komodo is and how the development of this cryptocurrency has provided innovative technological advances for the crypto world. It is normal that you have never heard about this crypto ecosystem and just think that when we talk about Komodo, we are talking about an island in Indonesia, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/8856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=8856"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/8856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/6370"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=8856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=8856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=8856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}