LISBON, Portugal, Nov. 16, 2016 /PRNewswire/ -- Blockchain
technology has brought us unparalleled tools that allow us to
achieve some degree of financial freedom. However, several aspects
of cryptocurrency force us to pick and choose which features we
value the most: efficiency, privacy, stability, speed, etc.
However, it does not have to be like this. The Komodo
Platform has put tools in place that can help cryptocurrencies
achieve mass adoption and consumer satisfaction by allowing users
to benefit from all the advantages that they provide without the
need to sacrifice what they like best about national
currencies.
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The Komodo Platform is fueled by Komodo coins, a cryptographic
token that allows users to protect their identity with zero
knowledge proofs, a technology first developed by the Zcash
project. To protect privacy and ensure that no double-spending or
hacks take place on the Komodo blockchain, a notarization process
known as Delayed Proof of Work has been created. This
mechanism relies on special nodes that publish the history of the
Komodo blockchain on Bitcoin's in order to notarize it. Once these
two important tools are in place (Privacy and Security), special
features that were not possible before can be implemented.
Many merchants and even average users stay away from Bitcoin and
Cryptocurrencies in general due to their volatile nature. No one
wants to sell a product to see his gains swept away by a price
crash that is completely unpredictable. As so, the team behind
Komodo has created a set of assets that consist in 32 fiat
currencies. These price stable assets are protected by the same
privacy and security standards that Komodo coins are, therefore
anyone can transfer national currencies anonymously on the
blockchain. Furthermore, a completely decentralized exchange for
these national currencies has also been put in place within the
Komodo wallet, known as Iguana.
Iguana is a multi-wallet that allows users to send, receive and
exchange Komodo and other cryptocurrencies like Zcash. Within this
wallet, users have access to all basic functions, including private
and transparent transactions, and also additional tools that have
been previously developed by the SuperNET team. These include the
aforementioned PAX (Pegged Asset Exchange) that allows
decentralized trading of national currencies and
the EasyDEX exchange, which allows decentralized trading
of many cryptocurrencies without resorting to proxy tokens.
It's also important to note that Komodo does not believe in
competition within the cryptosphere and believes instead in a
decentralized network of cryptocurrencies, where each can have its
specific function and purpose. Komodo places Bitcoin at the center
of its system by making it a notarization tool through delayed
Proof of Work. This same tool can be used by other cryptos to
ensure their security, giving them and Komodo a direct incentive to
contribute to Bitcoin's prosperity. The Iguana multi-wallet can
also be used for cryptocurrencies without a graphic user interface
wallet, and the decentralized exchanges can eliminate the
counterparty risk that all cryptocurrency users fear (No more
getting "Goxed").
To participate in Komodo, users can mine it with their
computational resources or acquire a pre-issued amount of coins in
exchange for Bitcoin during the ongoing Initial Coin Offering.
To learn more visit: https://komodoplatform.com
Media Contact
Contact Name: Audo Kryptowitz
Contact Email: press@komodoplatform.com
Komodo Platform is the source of this content. Virtual
currency is not legal tender, is not backed by the government, and
accounts and value balances are not subject to consumer
protections. This press release is for informational purposes only.
The information does not constitute investment advice or an offer
to invest.
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SOURCE Komodo