The cryptocurrency market is booming, and we cannot ignore the fact that there are over 850 different alternative cryptocurrencies in the market today. Every day, a new crypto-coin is being introduced in this space and it is difficult to predict which among them could actually leave a good impression in the coming future. Nevertheless, there are still many that are showing promises due to their insightful and practical roadmaps.

Komodo (KMD) is one such cryptocurrency. It has quietly risen quietly to the top 50 list of cryptocurrencies by market cap this year. In the last six months, Komodo prices have surged more than 2200%.

Komodo (KMD) is a decentralised, open-source cryptocurrency. It was launched in September 2016 and has evolved from BitcoinDark (BTCD) and is developed by the same developer (“jl777”). However, the underlying software was forked from Zcash. The new cryptocurrency runs on the SuperNET platform, using SuperNET’s infrastructure and software applications.

The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing fungible, private, anonymous, and transparent transactions, which are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol. It is important to note that cryptocurrency platforms attaching themselves to Komodo blockchain benefits from much lower transaction fees than that of Bitcoin.

You should know about these three things to understand the Komodo platform – Zcash, Delayed Proof of Work (dPOW), and SuperNET.

Almost all of the Komodo team members use pseudonyms because they believe in privacy protection, which leads many people to think that this operation is shady, but it really isn’t.

Here are some of the key players:

Komodo has a total fixed supply of 200 million coins, out which 100 million were pre-mined and distributed in the ICO, and out of this 100 million, 10 million were kept aside for future development and marketing of the Komodo platform, and 90 million were distributed to investors.

The remaining 100 million coins are still being mined via the POW algorithm.

The Komodo ICO period was October 15, 2016 – November 20, 2016, during which 2639 BTCs were raised (worth $1,983,781 at the time).

Komodo holders receive 5% annual percentage rate (APR) revenue, and this 5% APR will remain until the max supply of 200M KMD is reached (this is expected to be reached in approximately 14 years). It is important to note that only Komodo holders who have addresses starting with ‘T’ will receive the APR.

Komodo Currencies

The Komodo coins are usually transformed into 32 different currencies, which are linked with the local ones maintaining a stable value in the market. Each of the currency derived has its own block chain. This means that it tends to behave like any other cryptocurrency.

Market Cap of Komodo

According to CoinMarketCap, the total circulating supply of Komodo is 100,945,510 KMD. The current price of each unit is $2.21, which makes its market cap approximately $223 million.

The project is still alive and kicking. The team behind the project seems to be competent, at least technology wise. However, lack of marketing shrewdness and overall slump of crypto market led the the demise of KMD.

Right now, the project is essentially on life-support; similar to many other smaller projects.

It good be, potentially but right now it is not. It would be too risky to invest in Komodo since its future is still questionable.

That is very hard to predict but if the project lives long enough to see these years, you could expect it to be much higher than its current price.

The future outlook of Komodo is a cause of disputes among crypto fans, however, most of them agree that the project is promising and could survive the crypto winter. Komodo has a classic cryptopunks ethos – they respect basic principles of digital money, namely anonymity, decentralization, and accessibility with a high level of security.

As we can see below, Komodo cryptocurrency has something going for it, even though it is not much. KMD may become successful in several years. Let’s

According to DigitalCoin source, the Komodo coin price will go up to $1.4. In 2020, the average rate of the coin will be above $1. 

The Komodo price is forecasted to reach $0.8663483 by the end of 2020.

The price of Komodo is predicted to be 1.28 USD by the end of 2020.

In one year’s time, Cryptoground sees no major changes for KMD. The price will hover around the same levels as now – predicted to be around $0.94.

Purchase Komodo from Cryptocurrency Exchanges

Here is a list of established and trustworthy cryptocurrency exchanges listing Komodo:

Purchase Komodo from ShapeShift 

It is important to note that purchasing Komodo directly in fiat currency is a little difficult. However, you can exchange your other coins, such as ETH, LTC, or BTC in exchange of Komodo tokens on ShapeShift and the procedure is very simple.

In order to purchase Komodo, you will need the following things:

Purchase the Ledger Nano S here

Komodo Swing Wallet is available for Linux, Mac, and Windows operating systems.

Agama Wallet is available for Linux, Mac, and Windows operating systems.

Komodo has given a significant return to its investors since the ICO, and I believe this high return will continue as the team is going to refine and strengthen their marketing/development efforts.

Apart from this, Komodo is officially part of the SuperNET project, which is developing multiple standalone projects that will come together around the Komodo Platform. These projects are meant to improve, not only Komodo but the entire cryptocurrency ecosystem as a whole.

Among these projects is the Iguana Multi-wallet. This is a GUI implementation in which users can access Komodo and other cryptocurrencies. Users will be able to access all the basic functions of Komodo. They will also be able to access some of the advanced features like private transactions. It is important to note that other blockchains that do not have a GUI implementation can also use Iguana.

There are two decentralized exchanges within the Iguana multi-wallet – PAX and EasyDEX.

The PAX (Pegged Asset Exchange) – This exchange allows users to exchange national currencies in the form of assets issued on the Komodo network. These assets are protected by the same zero knowledge proofs as Komodo. This means that they can be exchanged and transferred anonymously.

EasyDEX (Easy Decentralized Exchange) – This is a fully decentralized exchange for cryptocurrencies, which allows users to exchange cryptocurrencies without the need to entrust a third party service. Trades are performed directly on the coins held. EasyDEX differs from other decentralized exchanges because it provides liquidity and speed. These are two key components that have been missing from almost every centralized exchange.

Users can also have access to a decentralized coin mixing service for other cryptocurrencies through EasyDEX. They can be exchanged for Komodo with privacy, and then sent to the destination in the form of the original coin. This service is known as Jumblr.

Many good things will happen for the Komodo community (including a surge in price) as the tools in this image keep on developing and getting mass adoption.

Here are some links that will help you keep updated about Komodo:

You can’t buy it directly for fiat on any exchange. You can choose the best bitcoin exchange for your region and buy BTC there, then trade it for KMD on exchanges. Learn here how you can instantly convert altcoins to bitcoin and vice versa.

Our recommendation is always check if Coinbase is available for your country and buy there – as it is by far the safest and best regulated bitcoin exchange. Coinbase is legit and safe cryptocurrency exchange.

If your country is not available on Coinbase – check for exchanges that are good Coinbase alternatives (such as Cexio and Indacoin – see here Cex.io review and Indacoin review) and buy BTC on one of those exchanges. You can always exchange your coins on Changelly (see if Changelly is legit), instantly and directly to BTC.

Best and safest option to store your coins is to download an official coin wallet and store it on a hardware wallet – our recommendation is just go and buy Ledger Nano S, it is the safest option.You can read our review of Ledger Nano S or check out other best hardware wallets here.

The post What is Komodo Cryptocurrency (KMD)? Komodo Price Prediction 2020 – 2025 appeared first on CaptainAltcoin.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

223 +