The Komodo Platform is a cryptocurrency project that focuses on providing anonymity through zero knowledge proofs and security through a novel Delayed Proof of Work (dPoW) protocol.

Komodo

whitepaper

An Advanced Blockchain Technology, Focused on Freedom

Introduction to Komodo

Komodo’s Method of Security: Delayed Proof of Work (dPoW)

The “Double Spend” Problem

The Consensus Mechanism Provides Security Against a “Double Spend”

A Miner Competes to Add Blocks to the Network’s History, in Exchange for a Reward

What is a Consensus Mechanism?

A Foundational Discussion of Blockchain Security

The Network Effect: Bitcoin’s Ability to Dominate Begins

Speed and Power are of the Essence

The Simple Effects of The Longest Chain Rule

A Tale of Two Blockchains

An Internal Conflict of Interest Arises Within the Bitcoin Network

The Longest Chain Rule: The History Which is Longer First, Wins

The Longest Chain Rule: The “Secret Sauce” of PoW Domination

The “Easy” Way to Destroy a PoW Network: The 51% Attack

Size is Yet Another Reason Behind Bitcoin’s Current Success Among PoW Networks

A Genesis Attack on the Bitcoin Network

The More Realistic Dangers of The Genesis Attack

The “Hard” Way to Destroy a PoW Network: The Genesis Attack

PoW is Currently the Most Secure Form of Consensus Mechanisms

PoW Networks Are Expensive

Miners are Free to Mine Other Networks

The Security Risks and Shortcomings of PoS

The Primary Alternative Consensus Mechanism: Proof of Stake

The Financial and Eco-Unfriendly Problems with All PoW Networks

A Summary of the PoW Consensus Mechanism

A Note About Komodo’s Iguana Core Technology

Abstract of the Delayed Proof of Work Consensus Mechanism (dPoW)

The First Step: Gathering the Appropriate Data

Step Two: Notarizing the Data to a Secure Location

The Third Step: Notarizing the PoW Network Information Back to the KMD Main Chain

The Notarization Process

Understanding “Difficulty” on a PoW Chain

Notary Nodes and Iguana Core Provide a Defense Against The 51% Attack

Each Notary Node Gets One Chance Per Every Sixty-Five Blocks to Mine on Easy

The Free-for-All Period

The Combination of Features Protects Against The 51% Attack

dPoW Has Elected Notary Nodes

The Ultimate Defense Against The Genesis Attack

A Brief Discussion of Komodo’s Protective Measures in Action

The dPoW Consensus Mechanism is Inherent in All Komodo Asset Chains

The Decentralized Initial Coin Offering

Abstract of the Decentralized Initial Coin Offering

Third-Party Discrimination

Centralization of Technology: “Whale” Manipulation, Theft, and Human Error

Lack of Privacy

Specific Weaknesses in the Centralized ICO Model

The Challenges in Current ICO Platforms

Third-Party Discrimination via the Centralized ICO

The Manipulative Behavior of Whales

Hackers and Human Error

The Right to Barter in Private

The Blockchain Industry Needs a Solution, and Komodo Presents an Answer

Centralization of ICO Technology: Whales, Hackers, and Human Error

The First Command to Create a New Coin

The Process of Creating a New Blockchain in the Komodo Ecosystem

The Features of the New Asset Chain

The Entire Coin Supply is Distributed in the Genesis Block

Generating and Mining the New Coins

Notarizing to the Komodo Main Chain

The Trials and Travails of the Centralized ICO Method

The Distribution of Coins

Powered by Komodo’s BarterDEX & Jumblr Technology

The Many Solutions of the dICO Model: Security, Privacy, Decentralization, and Freedom

Enter The dICO

Komodo’s Atomic-Swap Powered, Decentralized Exchange: BarterDEX

Abstract

The Beginnings and Travails of Decentralized Exchanges

Improvements in Our Current BarterDEX Iteration

BarterDEX: A Complete Solution

Introduction

Order Matching

Order Matching with Full-Relay and Non-Relay Nodes

Jumblr Technology Adds Privacy

Iguana Core Provides the Foundation for Our “Smart Address” Feature

BarterDEX Technology

Comparing the UTXO to Fiat Money

A Satoshi is The Smallest Divisible Unit of a Cryptocurrency

A UTXO is a Packet of Satoshis, just as a Fiat Dollar Bill is a Packet of Pennies

Understanding Cryptocurrencies and Their UTXOs

The UTXO: An Elusive, Yet Fundamental Concept

How BarterDEX Deals with Order Offers and UTXOs

Trading on BarterDEX

Atomic Swaps on The Komodo BarterDEX

Meet Alice and Bob

Alice and Bob Make a Deal

1 - Alice Sends <dexfee>

2 - Bob Successfully Sends <bobdeposit>

3 - Alice Successfully Sends <alicepayment>

4 - Bob Sends <bobpayment>

5 - Alice Spends <bobpayment>

6 - Bob Spends <alicepayment>

7 - Bob Reclaims <bobdeposit>

Additional BarterDEX Atomic Swap Details

Incentives and Disincentives to Maintain Good Behavior

A More Detailed Explanation of the Atomic-Swap Connection Process

Dealing with Confirmations

Zero Confirmations

High-Speed Mode: An Experimental Feature Using Time-Locked Deposits

Realtime Metrics

Orderbook Propagation

The DEX Fee: <dexfee>

The BarterDEX API

A Brief Discussion on the Future of BarterDEX

Detailed Explanations of the BarterDEX Process

Komodo’s Native Privacy Feature: Jumblr

The Option of Privacy is Essential to the Komodo Ecosystem

Challenges for Privacy-centric Systems and the Komodo Solution

An Introduction to Jumblr

Komodo Coin (KMD)

KMD Began as a Fork of Zcash

BarterDEX

Iguana Core

Komodod

A Brief Explanation of The Two Foundational Technologies

Anonymizing Native Komodo Coin (KMD)

jumblr_deposit <KMDaddress>

jumblr_secret <secretKMDaddress>

User Actions

The Jumblr Process

Jumblr’s Process of Breaking Down Funds

Option 1: Jumblr performs the next action

Option 2: Jumblr does nothing

Jumblr’s Process of Moving the Individual Lots into a Private Address

Additional Security Layers

The Timing Attack

The Knapsack Attack

More Defense Against The Knapsack Attack: Multiple Secret Addresses

Further Enhancements Against The Timing Attack

Further Security Enhancements to Combat The Timing and Knapsack Attacks

Additional Privacy Considerations

The Current Jumblr Process: Manual non-KMD to KMD Trading on BarterDEX

Future Capabilities: Jumblr Automates the BarterDEX Trading Process for the User

Komodo KMD