Simplicity: End-to-End Blockchain Solutions

DanielJuly 13, 2018

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.

blockchain simplicity

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 tech 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 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 Platform are already making blockchain simple for developers and entrepreneurs. Komodo Platform is presently the only project to offer end-to-end blockchain solutions.

Within the Komodo ecosystem, a user can launch an independent blockchain, sell that blockchain’s tokens to the public via a decentralized initial coin offering, make those coins available on Komodo’s Agama wallet for easy and secure storage, and integrate those tokens into Komdo's decentralized exchange (DEX) for atomic-swap-trading and access to liquidity.

In the second half of 2018, we plan 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 automate the process of creating a blockchain. The idea is to allow users to launch their very own chain without ever having to consult Komodo developers. All of our code is open-source and customizable, so those with the necessary coding skills can make adjustments as they see fit. All other users will have the option to set a series of customizable parameters. This process is beginning development now. We will make launching a blockchain as easy as a few clicks of the mouse.

Third, we will overhaul all of our user interfaces to provide a seamless, unified experience for all features of Komodo Platform. This will include both Agama wallet and Komodo's DEX, as well as our blockchain creation services, all envisioned to be under a single GUI.

Agama, Komodo’s multi-coin wallet, will hold all your coins and tokens, while Komodo's DEX gives you the ability to trade those coins and tokens with other users via atomic swaps. It will be sleek and simple so no one will feel intimidated when getting started with crypto.

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.

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Join us as we continue to accelerate the adoption of blockchain technologies around the globe and to lead the world in blockchain integration.