What is Komodo?

Komodo is a comprehensive blockchain platform and cryptocurrency designed with a focus on providing advanced security, anonymity, and interoperability features. Developed as an enhancement over the Bitcoin protocol, Komodo integrates innovative technologies to overcome the limitations of previous blockchain systems and enrich their functionalities.

What are the Functions and Use Cases of Komodo?

One of Komodo's hallmark features is "delayed proof of work" (dPoW), a consensus mechanism that allows the Komodo blockchain to secure itself by leveraging the robustness of the Bitcoin blockchain. This adds an additional layer of security, safeguarding the network against potential attacks.

Komodo's versatile platform supports the development of independent blockchains, each with customizable consensus mechanisms. This flexibility makes it suitable for a wide array of applications, including the deployment of decentralized applications (dApps) and the execution of secure token sales. The Komodo token (KMD) serves multiple functions, such as covering transaction fees, powering dApps, voting for Notary Nodes (dedicated validating servers), and even earning users a 5% active user reward without requiring staking or locking of funds.

Who Created Komodo and When?

Komodo was conceived and developed by a team under the leadership of James Lee. With expertise in software development and an in-depth understanding of blockchain technology, Lee has been instrumental in shaping the vision and technical framework of the Komodo ecosystem. The project aims to deliver a secure, private, and scalable blockchain platform that caters to both developers and end-users. Specific information about the timeline of Komodo's creation was not available at the time of writing.