Komodo Platform Gathers 2636 Bitcoins in Initial Coin Offering

The Komodo Initial Coin Offering period ended two days ago. During this 5 week crowdfunding campaign, the Komodo team managed to gather 2636.37 Bitcoin in exchange for KMD tokens. The undeniable success of this ICO reveals, not only an overwhelming need for privacy-driven alternatives within the cryptocurrency space, but also the overall promise that the new delayed Proof of Work protocol and the Komodo Platform offers.

The Komodo Platform offers its users top-notch security features derived from Zcash’s Zero Knowledge proofs. These allow users to make private or transparent transactions, according to the requirements of each situation. One of the major differences between Komodo and Zcash are the supply and the way it is issued. While Zcash started from 0 ZEC and will go on to 21 million, until the total supply is mined, Komodo will start with 100 million issued coins that are distributed to investors. 100 million additional coins will be mined over the course of 14 years. Out of the 200 million coins issued, the Komodo team will keep 5% for development, marketing and bounties, which also differs from the Zcash “Founder’s Reward” that will amount to 10% of the Zcash total supply.

One of the most interesting aspects of Komodo is its novel approach on security, Delayed Proof of Work (dPoW). This protocol allows Komodo to “recycle” Bitcoin’s hashing power by notarizing its blocks on the Bitcoin blockchain. This process is headed by a group of pre selected notary nodes that will be voted on by the community.

Since the beginning of the ICO, the Komodo team has revealed how a series of previously developed projects will form around Komodo to build a complete ecosystem.

The Iguana multi wallet will be the hub where users can access the basic features of Komodo and other cryptocurrencies as well as other advanced tools like EasyDEX. EasyDEX is a decentralized exchange for cryptocurrencies. Using this tool anyone can exchange coins directly and with liquidity. Users will also be able to transfer fiat assets with the same privacy as Komodo, and to exchange them anonymously and in a decentralized setting.

While no exchange has been confirmed, users can count on the EasyDEX decentralized exchange to sell and buy Komodo, once it’s finished. Until then, users can learn more by engaging the SuperNET community through the official slack channel.