There was a time when Komodo (KMD) was on the lips of every cryptocurrency trader and blockchain enthusiast. Everyone wanted Komodo to moon and the project that focuses on freedom via the blockchain, to soar and devour the competition like the gigantic, venomous lizard that is known to roam the Indonesian Islands of Komodo, Rinca, Flores, Gili Motang and Padar.
I mean, if you are going to name your coin after a gigantic lizard that is straight out of a scene from Jurassic park, then the whitepaper must be solid to the point of you believing that it will devoir the competition.
As a matter of fact, the Komodo (KMD) coin had reached its peak of $12.89 on 21st December, 2017. The coin was soaring and then the buzz surrounding it simply went poof, like a backfired firecracker. In actual fact, the Komodo Telegram group no longer is as exciting as it used to be between early November and mid-December. You can hear a pin drop in that chat group.
KMD is easily a $20 – $100 coin that should be slugging it out with the big boys of Lisk (LSK – $22.86), Qtum (QTUM – $24.52), Augur (REB – $52.72) or even Litecoin (LTC – $145). The technology and the whitepaper to back it is solid. The coins in circulation are also relatively low for the cryptocurrency market. At 103 Million coins, KMD only has 6 Million more coins than Ethereum which is currently priced at $815. Komodo (KMD) is currently trading at $4.03.
So what is Komodo and its platform?
Komodo is an end-to-end blockchain solution you can use to launch your own independent blockchain or ICO. This sounds more or less like what the Ethereum platform does or even the ICON (ICX) platform.
However, Komodo (KMD) has a silver bullet that annihilates the competition. It also includes a decentralized exchange and a cryptocurrency anonymizer to improve on the privacy of your transactions on the platform. The latter sounds more like what Verge (XVG), Dash (DASH) and ZCash (ZCH) have also achieved. All these three coins, have a privacy protocol.
Komodo’s whitepaper has four separate entities: BarterDEX, Jumblr, Delay Proof-of-Work (dPoW) and Decentralized Fiat Currencies (DFCs).
BarterDEX is the decentralized exchange earlier mentioned. Jumblr is the open-source and decentralized crypto anonymizer that is used to enhance your privacy when using the Komodo Platform. dPoW is a consensus algorithm used to maintain the network. The complex mathematical explanation is in the whitepaper and it shows that this algorithm is layered on the existing Bitcoin PoW algorithm due to the high hashrate present. The Decentralized Fiat Currencies are pretty much cryptocurrencies that are tied to local fiat currency.
So why is Komodo (KMD) not devouring the competition like the gigantic lizard?
The marketing and noise regarding the coin on the social media space is lacking as can be seen with the quiet Telegram Chat Group. The team behind the platform needs to up the ante on marketing the coin and the platform. The fans of the coin and users of the platform also need to assist in doing so.
The good news is that the Komodo website is scheduled for a face-lift that promises to be a game changer that will excite the cryptocurrency space. The Komodo team promises a new online presence that combines new functionalities, content and design.
Secondly, the decentralized exchange, BarterDEX, will soon find popularity with traders who do not want the hustles of regular centralized exchanges. Such hustles include website shutdowns for maintenance and upgrades (Binance), hackings by smart criminals (Coincheck) and even regulation and taxation by countries (Coinbase).
In summary, it is time to resurrect the Komodo (KMD) Dragon. We need the revolutionary options the platform offers in the blockchain space. Also, the coin was doing fantastic in terms of value around mid-December. It needs to come back to its winning ways and compete with the big boys for it is a marvelous coin and platform! The coin is easily a $100 contender in 2018.