Komodo is a privacy chain and blockchain project that is far more secure than the traditional blockchains. It is a unique platform that allows the developers to launch blockchains and ICOs. The Komodo platform also has a decentralized exchange and an anonymizer that helps to secure all transactions private. The Komodo platform has several components that create the entire ecosystem. The Komodo Token or KMD is the native currency of the Komodo platform. As per the last reports, KMD ranks at 78 in the market.
Those who traded in the cryptocurrency and even a few newcomers would have come across the word—DeFi. DeFi (an acronym for Decentralized Finance) is the specific ecosystem in the blockchain space that enables digital financial services. Based on the Ethereum blockchain, specially designed DApps or decentralized applications can be created for the financial sector. The principal characteristic of DApps is that they can be programmed as needed. When the DApp is implemented on the blockchain, it runs in a decentralized and independent manner.
The AtomicDEX is a decentralized exchange that sits atop the Komodo multi-chain platform. It is the most advanced peer-to-peer atomic swap protocol in the world. The Atomic DEX allows people to trade cryptocurrency in a secure environment. Trading is available for any coin that a developer chooses to connect to AtomicDEX. Not many people are still aware that the Komodo platform has two exciting DeFi ecosystem projects and not one.
In the 3rd week of July, Komodo had announced that Antara, a simple and adaptable framework for blockchain development, has gone live. It deserves special praise as it has allowed the developers to get complete freedom from the limitations that are associated with a single-chain blockchain platform architecture. It has allowed the creation of modular Smart Chains. They are made secure through the Bitcoin network with the help of the DPoW or Delayed Proof of Work feature. With the help of Antara, Komodo seeks developer independence from the single-chain architectures like Ethereum.