Komodo Progress Report | Q2 2023
Komodo Introduces “Komodo Wallet”: the Ultimate Decentralized Non-Custodial Solution, Launches Komodo SDK
Before we recap everything that happened in Q2, we have exciting news from early Q3.
On July 10, we officially announced the renaming of our flagship end-user application from "AtomicDEX" to "Komodo Wallet".
We have also renamed “AtomicDEX API” to “Komodo DeFi Framework”. Komodo DeFi Framework consists of two APIs (Wallet API and DEX API), providing the ultimate solution for developers looking to launch DeFi applications such as non-custodial wallets, cross-chain DEXs, IDO portals, or all-in-one solutions.
All of Komodo’s products will now exist under a new unified brand umbrella called “Komodo SDK”.
Introducing Komodo Zebra (a.k.a. Kebra)
Komodo inherited its blockchain network protocol from Zcash, which is itself a fork of Bitcoin built off of a poorly-specified C++ codebase. In 2022, Zcash Foundation engineers remedied this by releasing Zebra — a reimplementation of their node written in the Rust software language.
In April, we announced that Komodo had built the first iteration of our own Zebra implementation customized specifically for the Komodo mainnet. Our version is adapted to work with Komodo-specific consensus rules, Notary Nodes entities, and the dPoW security layer.
Komodo Zebra is a full node capable of validating and propagating transactions and blocks, discovering and maintaining connections with peers, and maintaining a complete and up-to-date copy of the blockchain. It doesn’t have mining functionality to solve the Proof of Work algorithm itself, but it will have the functionality to support pool software-producing blocks.
Season 7 Notary Node Election
In April, we held the 7th annual Notary Node Election. Thanks to all the candidates and voters who participated.
Congrats to all Season 7 election winners and autoelection winners (based on Season 6 performance).
As of Season 7, which kicked off on June 30, 2023, Notary Node operators provide delayed Proof of Work (dPoW) security for 20 blockchains and their respective cryptocurrencies.
Successful Komodo Network Upgrade v0.8.0 [Viserion]
Coinciding with Season 7 Notary Node operators going online, the Komodo daemon activated a scheduled hard fork/ network upgrade at KMD block height 3484958 on June 30. Assetchains (Komodo Smart Chains) activated the upgrade precisely at timestamp 1688132253 (June 30, 2023, at 13:37:33 UTC).
The network upgrade also introduced a few network changes such as a reduction of the KMD active user reward (AUR) from 5% to 0.01% as announced in KIP-0001, memory usage improvements, node startup performance improvements, and more.
How We’re Preventing Address Poisoning
Address poisoning (a.k.a. address poisoning attack) is a type of scam that targets users of any cryptocurrency wallet. A scammer will try to "poison" your cryptocurrency address by sending a tiny amount of crypto (i.e. BNB, MATIC, USDC). Sometimes the scammer will even send an NFT. Sometimes, the scammer's address might have similar characters to your crypto address.
We have recently implemented a hotfix to help mitigate the threat of address poisoning. Near-zero amounts for EVM-based coins and tokens will now have the option to be filtered out in your Komodo Wallet transaction history.
This update is now live in all of our GUI releases.
Komodo Wallet (mobile) Log File Bug — How It Might Impact You
In June, the Komodo team discovered a bug in the mobile app that logged private keys of specific coins, upon specific user actions, into a LOCAL in-app log-file. Most importantly, at no point in time did the Komodo Wallet mobile app leak or upload any sensitive data.
This bug only impacts the mobile app. It does not impact the web app or desktop app.
Your funds are only at risk if you did the following actions in this exact order:
- Used the export private key functionality in Komodo Wallet (mobile)
And then…
2. Shared your log-file with someone else afterward
If you believe you may have done these actions, please read our announcement for more information.
All mobile app users, whether directly impacted by this bug or not, MUST update to Komodo Wallet (mobile v0.6.4), which includes the fix, the next time you open the app.
Work In Progress/Proof of Concept
1) HD/Multi-account Wallet Support
a) The Komodo DeFi Framework team expects to complete the multi-account/address support in Q3.
b) Once completed, the current implementation will be integrated into the Komodo Wallet apps.
2) NFT Support
a) We plan to launch NFT wallet support on Komodo Wallet (web) in Q3.
b) Wallet support for ERC721 and ERC1155 token standards has been successfully integrated, enabling seamless interactions with the dynamic NFT ecosystem.
c) The NFT feature now supports multiple blockchains, including Avalanche, BNB Chain, Ethereum, Fantom, and Polygon.
3) Fiat On-ramp
a) Will allow Komodo Wallet users to buy crypto with credit/debit cards and bank accounts through one of the top providers.
b) Integration is WIP, and we expect delivery in Q3.
4) Website Upgrade
a) As a next step of renaming, we started to work on a visual identity refresh for komodoplatform.com.
b) We expect to complete our website upgrade in Q3 or Q4.
5) Mobile and Web Pirate/ZHTLC Coin Support
a) WIP to support Pirate/ZHTLC coins on Komodo Wallet (web & mobile),
b) We are expecting delivery in Q3.
6) Extensive Security Reviews
a) Our dev team allocated significant resources to a project-wide security review.
b) The review involved a two-prong approach. On one hand, we examined our interfaces, scrutinizing their operations, data exchanges, and potential vulnerabilities. On the other hand, we delved into the dependencies of our GUIs and protocols, identifying any hidden susceptibilities that could potentially be exploited.
c) The most significant finding was the aforementioned mobile log-file bug, which we fixed via Komodo Wallet Mobile v0.6.4 patch.
d) This effort clearly showcases our dedication to creating and maintaining a secure and user-friendly application.
7) Komodo DeFi Framework CLI Introduction — Streamlining Interactions and Command Line Functionality
a) A command-line interface (CLI) for Komodo DeFi Framework is in development. It will introduce an interface for RPC call execution to both the DEX API and Wallet API.
b) Commands will make it easy to enable and manage supported coins, place and manage trading orders, and access real-time order book data.
8) Komodo DeFi Framework Network Stack Upgrade — Boosting Performance and Connectivity
a) The network stack is being upgraded to leverage the latest advancements in networking technology, including the integration of the latest libp2p releases.
b) The aim is to elevate performance, strengthen connectivity, and unlock additional benefits for improved speed, reliability, and user experience.
9) Komodo DeFi Framework HTTPS Support — Reinforcing Data Security
a) HTTPS support has been added for the RPC server to prioritize data security and enhance user protection.
Q2 Komodo Wallet App Releases
Web
In May, we released Komodo Wallet (web v0.4.4), which added support for native mobile and desktop apps from the same codebase. We are now preparing open testing of unified interfaces (same look and functionality on desktop/mobile/web).
In June, we released Komodo Wallet (web v0.4.4b), which integrated all Komodo daemon updates applied in the v0.8.0 [Viserion] hard fork/network upgrade.
Desktop
In April, we released Komodo Wallet (desktop v0.5.7.2), which added UI/UX improvements and a few bug improvements.
In June, we released Komodo Wallet (desktop v0.5.8). This release integrated all Komodo daemon updates applied in the v0.8.0 [Viserion] hard fork/network upgrade. It also introduced support for Tendermint assets (IRIS, OSMOSIS, ATOM), updated the Komodo DeFi Framework to v1.0.5, and more.
Mobile
In April, we released Komodo Wallet (mobile v0.6.3). This release added support for VOTE2023 tokens, which users sent to cast votes in the Season 7 Notary Node Election.
In June, we released Komodo Wallet (mobile v0.6.4). As mentioned above, this release fixed the log file bug. All users must upgrade to v0.6.4 the next time they open the mobile app.
PR and Third-Party Website Coverage
Komodo CTO Kadan Stadelmann participated in Twitter Spaces hosted by Benzinga and GotBit Markets Global and was featured in several crypto media publications throughout Q2 2023, including the following:
OpEds
CMC Alexandria — Peer-to-Peer term and Cross-chain term
ValueWalk — Crypto Investors Priced In SEC Regulatory Action
The Daily HODL — The US Must Pursue a Disclosure-Oriented Regime Rather Than a Permissioning Regime
Commentary
Yahoo Finance weekly market wraps (also featured on Forkast News) — April 14, April 21, June 23
CoinDesk — Shiba Inu price reaction
Cointelegraph — Meme coins
Cointelegraph — MiCA regulation
The Fintech Times — Ethereum Shapella upgrade
Forkast News — Coinbase and the SEC
Finder — BTC 2023 price prediction
Grit Daily — US crypto regulation
Cryptopolitan (also syndicated to Bitcoinethereumnews) — BTC 2030 price prediction
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