On January 24th, we had an AMA session with Komodo, the first open, composable Smart Chain platform with the atomic swap technology, in our Telegram Chat. The team members present on the discussion with our community were Kadan Stadelmann (Chief Technology Officer), Jason Brown (Business Developer), Audo Kowitz (Marketing Manager) and Alper Can (Head of Social Media).
Here are the essential points of the AMA session:
Please welcome Kadan (K), Jason (J), Audo (AK), Alper (AC) and the questions from our Telegram chat members (Q).
Komodo and its platform
Q: Tell us about the Komodo Platform.
K: We are an open, composable Smart Chain platform built on top of a multichain architecture. We do provide a set of various technologies and tools that reflect our vision and biggest goal: global blockchain interoperability for all projects that build on KMD and giving them a sovereign and independent blockchain stack to build their dapps, chains, systems and other tools on.
Q: The Komodo Platform has already outperformed itself for the past 3 years or so. Is there any specific highlight key of KMD that you would like your users to remember about you?
AK: Komodo is an open, composable multi-chain platform. We strive to achieve a growing ecosystem with different projects building on top of the Komodo Platform.
Q: What are the major milestones Komodo has achieved so far?
AK: First Atomic DEX stress test, the public beta launch of Atomic DEX, the launch of the Antara Smart Chain Composer, rebrand and continued to build Antara Modules such as quantum-resistant and more are the major milestones Komodo has achieved so far.
Q: What is a smart chain and which field can it be used for? Why does Komodo have an Antara Smart Chain Composer on its platform?
AK: Smart chains are blockchains that are built with Komodo Platform. Blockchains are mostly naked. Smart Chains, on the other hand, come with a lot of out-of-the-box features like DPoW, etc.
Q: What is the difference between Komodo Smart Contract and Ethereum Smart Contract? How KMD Smart contact can lead over Ethereum smart contract?
J: Komodo smart contracts are done at the consensus level where Ethereum contracts use an interpreter. This allows for use of languages better suited for fine control of the hardware such as C as opposed to a high-level language like Solidity. Since contracts in the Komodo system are independent chains, issues such as being at a mainchain’s developer’s mercy are removed. This freedom and autonomy are required for success and currently is not found on Ethereum.
Q: What makes Komodo different from other competitor projects out there? What is the killer score Komodo has?
AK: The main difference to many platforms is our vision about multi-chain architecture where multiple blockchains work together instead of one single chain or platform. There are a couple of other projects who have also embraced this vision and kudos to them.
Q: How will the privacy feature of Komodo be suitable for enterprise businesses if there are some regulation requirements?
J: Komodo removed privacy features on its chain. Chains built with Antara can still enable privacy features on their own independent chains. Any regulatory responsibility falls on the project that uses it.
Komodo and the Atomic DEX
Q: Please elaborate on what Atomic DEX is.
K: Atomic DEX is a 3rd generation native decentralized exchange technology that our team is working on for over half a decade already. Earlier last year, we entered a public beta phase and since then, the technology has evolved a lot. We do cover compatibility for 99%+ of all CMC-listed cryptocurrencies and tokens and we managed to port our technology to all platforms, operating systems and environments — desktop, server and even mobile. But that is not all. We also got Atomic DEX to run natively within the web-browser environment (WASM).
Q: Why is Atomic DEX the leading market DEX technology?
AK: Atomic DEX is running almost in a production-ready environment. It has a full platform coverage (OS and device agnostic) on top of that we have even managed to run Atomic DEX in a browser, which means that you will be able to do Atomic Swaps in a browser. AtomicDEX does also fulfill all 4 core requirements to be called a ‘True DEX.’
Komodo and the KMD coin
Q: How does the Antara Framework benefit KMD coin? How does the KMD coin fit into the Komodo ecosystem in general?
AK: KMD is the money of the Komodo ecosystem. Every Smart Chain that launches on Komodo Platform using the Antara Framework needs to pay the fees in KMD.
Q: What are the major use cases of KMD coin?
AK: The major use cases of KMD are the gateway to trustless trading, easy mobile payments, and Komodo platform services.
Komodo and its future plans
Q: What are your plans for 2020?
J: Our goal for 2020 is a full scaleup and production test (2nd stress test) as well as completing the beta phase of Atomic DEX and presenting a release candidate towards the end of this year. Additionally, we plan on bringing out a desktop version of Atomic DEX this year as well and continue on with developments in other areas of blockchain technology such as decentralized order matching, improved SPV clients and blockchain modularization.
Q: Any new features going to be added to the Komodo Platform this 2020?
J: 2020 will bring a lot of refinement to Atomic DEX with more coin additions, improved order matching system and further developments in the gaming sphere. Several community-requested features have been implemented in Atomic DEX such as Segwit support and the ability to run in the background has already been added and we actively seek user feedback in UX development. Additionally, we are launching a community portal for Komodo to better enable collaboration among the many projects in the ecosystem and its users.
Q: What are Komodo’s achievements last 2019? What is Komodo’s 2020 development plan?
AK: We will publish our year-end report for 2019 in the coming weeks as well as the development plan for 2020.
Q: Where precisely are you looking at in about 3 to 5 years from now?
AK: In 3 to 5 years, we think that most of the current and new projects will realize that the Gas model is flawed and will realize that scaling can be a problem.
Q: What is Komodo’s mission now?
AK: Komodo is committed to accelerating global blockchain adoption through a composable, multi-chain architecture, an open-source model and an open, business-friendly ecosystem that allows developers, startups and enterprises alike to prosper with blockchain technology.
Q: What are your plans to educate and raise awareness among the community to make more people understand the Komodo Platform, its technology, and adoption?
AK: We see Komodo as the WordPress of Blockchain. We strive to make it as easy as possible to get started with blockchain. For this, we have created the Antara Composer. Everyone is able to create a blockchain under 5 minutes and add plugins (Antara Modules) to the newly created Smart Chain.
Q: What is the business model for creating Komodo revenue? Is there enough profit to sustain the project in the future?
J: Fees are collected for integrations into Atomic DEX and DPoW by ecosystem service providers. Additionally, we are working on integrations with credit card services and other value add-ons for Atomic DEX. Komodo, through a variety of means, has acquired funding to last us many years and has assured the support of its DPoW mechanism for the next decade and a half without requiring any additional funding.
Q: When can we buy KMD through fiat on Binance and Huobi OTC?
J: Many times, it is up to the exchange to add us to respective services. Currently, there are several fiat gateways — Bittrex and Metal Pay for the US, Bitpanda in the EU, Bitbns in India, Netcoins in Canada and Australia and Upbit for Korea. We are looking to expand to other fiat currencies as well when the opportunity presents itself.
We were glad to host Komodo on our Telegram. Thanks to the team and all the members of the session!