Review on Komodo by Arun Kaul

Name: Komodo
Item: Komodo
Rating: 4

June 15, 2019

Interoperable Blockchain Ecosystem - Komodo

Primarily, Komodo project wants to focus on centralization issues inherent to many digital currencies and blockchains today. Not only is Komodo its own coin and blockchain, but it also provides users with a decentralized ICO option, a place to exchange cryptocurrencies, and atomic swap capabilities.

Those using the Komodo platform will receive a unique delayed Proof-of-Work algorithm which promises to provide anonymity, privacy, and security. This applies to all blockchains based on the Komodo network.

It will be interesting to see if Komodo can handle its workload. The team has bitten off a big piece and taking care of business will be a challenge. However, the Komodo development team consistently delivers on-time in a world where missing deadlines by months is the norm. Komodo’s staff has shown the ability to quickly pivot based on what the community wants or needs.

This project is definitely worth keeping an eye on for the near term. If the team continues to provide on-time deliveries for the platform, it could create a long-lasting impact in the cryptocurrency market. It might be too early to tell yet, but it’s certainly worth watching.
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Pros

Komodo offers stability when it comes to cryptocurrencies. Even though it doesn’t have the same appeal that Bitcoin provides, it does have a large number of users willing to mine and support it.
Through the Komodo platform, users can work with their currencies on both mobile devices and desktop computers or laptops.
With its delayed Proof-of-Work protocol which improves upon the Zcash code, Komodo is nearly invulnerable to even the most persistent hacker attacks.
Even though other cryptocurrencies distance themselves from the ideals of decentralization, Komodo remains true to the principles associated with digital currencies. Changes within the Komodo platform can only occur when the entire community is on board.
Since Komodo is a reasonably new cryptocurrency project, transactions on the platform complete in a short amount of time.
Komodo has plenty of potential. The coin is young and has a bright future ahead of it. As long as the team makes the right choices in development, there’s no reason Komodo can’t reach great heights.

Cons

It can be a challenge to get Komodo coin with fiat currency. Users have to go through an exchange like Coinbase to convert their fiat currency to Bitcoin or Ethereum, then find an exchange that supports KMD. It would be nice if there were a more manageable process in place.
There are several projects in competition with the various aspects of the Komodo platform. Many of Komodo’s competitors are well-known in the cryptocurrency market and will make it a challenge for the coin to gain market share.
The marketing for Komodo isn’t as strong as it is with other cryptocurrencies. Komodo could gain more traction and adoption in the market if it did a better job of marketing itself and the features it offers.