Komodo’s technology vision is anchored to the 4 Pillars of Blockchain Technology: security, scalability, interoperability, and adaptability. In addition, Komodo believes in reducing the barriers to entry into the blockchain space.
This post will discuss Komodo's plans to prioritize simplicity in order to accelerate the mass adoption of blockchain technology.
Crypto Complexity
For crypto to be widely adopted, it must be easy to use. Right now, the mainstream perception is that crypto is an obscure, complicated world, intended only for developers and other tech-savvy users. And in some respects, this criticism is fair. Getting involved in crypto can be a little intimidating.
But all is not lost. Think about the internet in its earliest days—it was essentially limited to emails. Sending a brief message would require booting up a huge computer, connecting to the Web with a 56k modem, using a command line interface, etc. It was limited to people with an in-depth knowledge of computers and technology.
This led some to doubt the practicality of the internet altogether. Here’s a quote from an article written by a physicist named Cliff Stroll that was published in Newsweek magazine:
“Visionaries see a future of telecommuting workers, interactive libraries and multimedia classrooms. They speak of electronic town meetings and virtual communities. Commerce and business will shift from offices and malls to networks and modems. And the freedom of digital networks will make government more democratic.
Baloney. Do our computer pundits lack all common sense? The truth is, no online database will replace your daily newspaper, no CD-ROM can take the place of a competent teacher and no computer network will change the way government works.”
You might be thinking this article was published in the 1970s or 1980s, but you’d be wrong. This was written and published in 1995!
The internet has since come to dominate every aspect of daily life for much of the human race. Most of the progress that’s been made over the last several decades is owed to simplicity.
Simplifying Blockchain Tech
Many people simply aren’t very comfortable with technology. This is even more true when it comes to an emerging, unfamiliar technology, and it’s exponentially more true if that technology involves the transfer of one’s hard-earned money.
Thus, the obvious solution is to make crypto simple. The blockchain industry must fight this battle on two fronts.
First, we must educate and inform the public so that people have a better understanding of blockchain and crypto in general. This means objective, fact-based information, not a bunch of pump-and-dump hype or promises of lambos and early retirement. Komodo is launching an educational campaign to help in this regard.
Second, we must make crypto so user-friendly that your grandparents could download an app and buy coins without a mindful grandchild standing over their shoulder to help them every step of the way.
Komodo’s Plans For Simplicity
We here at Komodo are already making blockchain simple for developers and entrepreneurs. This is true wit products like AtomicDEX and the Antara Composer, as well as services like a white label product offering and Komodo's Blockchain Security as a Service.
Within the Komodo ecosystem, a user can launch an independent Smart Chain, with its own consensus rules, decentralized network, and currency. Smart Chains can be customized in 18 different ways, leading to hundreds of millions of different configurations to choose from.
After the Smart Chain is launched, the modules available within the Antara Framework can be activated to enhance functionality and drastically reduce development hours. Modules include tokens, blockchain gateways, stablecoins, blockchain quantum security, trustless price feeds, oracles, and much more.
In the end of 2019 and beginning of 2020 approaches, Komodo plans to increase simplicity to an even larger degree. We will do this in three important respects.
First, as we mentioned above, we’re beginning an educational campaign to explain basic blockchain- and crypto-related topics in the simplest of terms. This will help people understand crypto and feel more comfortable using it.
Second, we will continue to refine and improve the the process of how to make a blockchain with the Antara Composer. This includes adding even more customization options for Smart Chains, as well as more modules in the Antara Module library. The process will become more advanced, allowing businesses and third-party projects to build a customized and purpose-built Smart Chain in just minutes.
Third, we will overhaul all of our user interfaces to provide a seamless, unified experience for making atomic swaps with Komodo's third-generation decentralized exchange, the AtomicDEX. This product makes trading cryptocurrencies easier and more secure than ever before.
Simplicity is prerequisite for mass adoption. We want everyone to feel comfortable with the blockchain industry, and we aim to accomplish this goal with the three improvements we’ve described here.