Komodo Evolution: The 4 Pillars of Blockchain Technology
With blockchain development roots dating back to 2014, Komodo is consistently recognized as one of the most active and innovative projects in the blockchain industry.
Over the years, Komodo has demonstrated a strong commitment to innovation with a history of groundbreaking developments. This post will highlight all of Komodo's achievements and explain why Komodo is set to become a leading platform in the blockchain space in 2020.
Komodo's Developments In 2018
In 2018, Komodo made the roadmap a reality and reached several new milestones. Over the course of that year, Komodo:
- bridged the gap between BTC-based coins and ERC-20 tokens
- released an updated website and the Komodo 1.5 rebranding
- held the second annual notary node elections
- launched the world’s first decentralized initial coin offering
- developed a way to support smart contracts and software on UTXO-based blockchains
- established an official relationship with University of Texas at Arlington (UTA)
- successfully launched a major ecosystem upgrade, providing several powerful new features to all projects building with Komodo's technology.
Komodo's Developments In 2019
In 2019, Komodo continued to show an incredible amount of innovation and progress. Throughout the year, Komodo:
- announced a Technology Partnership with Coinbene
- held the third annual Notary Node Election
- made Dilithium quantum security an optional feature within the ecosystem
- solved the oracle problem with a trustless oracle module, launched the beta version of the Antara Composer
- released an end-to-end toolkit for blockchain development known as the Antara Framework
- innovated Adaptive Proof of Work (APoW), an improved version of Proof of Work consensus rules that is secured against difficulty stranding attacks
- developed the new nSPV technology super light client technology.
- released the beta version of AtomicDEX, a cutting-edge, third-generation decentralized exchange.
Recognition and Awards For Komodo
For all of these accomplishments, Komodo has received a great deal of recognition.
In March 2018, Darpal Rating awarded Komodo a 4.5 out of 5, landing Komodo in 12th place overall out of 200 projects.
Then, in May 2018, China's Center for Information and Industry Development (CCID) released a report evaluating and ranking 28 prominent blockchain projects. Komodo was given 5th place overall. When the China CCID released their fourth edition of blockchain project rankings in August 2018, Komodo was ranked even higher. In this edition, Komodo was given 3rd place overall out of the 30 major projects evaluated.
In August 2018, Fortune Magazine published an article that quoted Binance CEO Changpeng Zhao (CZ) as saying “newer tools like Komodo and Tendermint that make it possible to write blockchains for specific purposes, suggesting the future will consist of numerous bespoke ledgers.”
Later, in March 2019, the BlockData research firm published a detailed analysis of more than a dozen blockchain platforms. In the comparison chart, Komodo was ranked very favorably.
In June 2019, a blockchain analysis organization called Electra Capital published a report showing Komodo as one of of most active projects with regard to Github commits. The report called Komodo "highly active" and noted that Komodo has "high activity relative to network value."
In September 2019, Forbes Magazine published an article that recognized Komodo as "an atomic swap early adopter" and noted that Komodo "launched the first atomic swap across ethereum. Today, Komodo has facilitated atomic swaps across 95 percent of all cryptocurrencies."
Later in the same month, Altcoin Magazine named Komodo the "Most Innovative" blockchain project of 2019.
The Komodo blockchain is typically among the top 20 most active blockchains in existence, according to Blocktivity, a website that tracks and measures the transactional activity across hundreds of different chains.
Finally, Komodo's Github repositories are in a constant state of growth. Check out this video for a visual representation of all the Github commits Komodo’s core developers have completed over the last 3 years.
By virtually every metric available, Komodo is one of the world's best and most advanced blockchain projects.
The 4 Pillars of Blockchain Technology
Now, as we prepare for the remainder of 2019 and 2020, Komodo will continue to present solutions to the blockchain industry’s most pressing problems. All of Komodo's development is guided by the following qualities:
These are the 4 pillars of blockchain. The Komodo team first introduced them in June 2018 but all four of them are still just as relevant today as they were back then.
The important to note is that all four of these pillars must be respected for a blockchain project to be successful. Not a single one can be ignored. Having any three of these components is meaningless without the fourth.
That’s why Komodo is innovating unique features to promote each of these crucial blockchain attributes. The Komodo Development Team is working hard to put the finishing touches on these new technologies. Once released, they will truly put Komodo head and shoulders above every other blockchain project on the planet.
📧Komodo Newsletter
If you'd like to learn more about blockchain technology and keep up with Komodo's progress, subscribe to our newsletter. Begin your blockchain journey with Komodo today.