Komodo is among the projects that we have been following since 2018. In this post, we want to link what has been happening in the past with some recent updates to understand how progressive blockchain projects can be and how hard the people behind the scenes work to bring the utility to blockchains.
On the October 1 blog update, the platform announced that the highlight of development on the blockchain includes the AtomicDEX v0.5. Tokel also completed what has been termed a peer-to-peer IDO on the DEX while the blockchain upgrade was successfully accomplished in September 2021. This simplifies the trading on the DEX, giving the user options such as setting the number of confirmations they require during trading.
In a previous update that we wrote a couple of years ago, we highlighted the Komodo team’s reputation of commitment to innovation as the network strives to become one to be reckoned with in the coin market.
The Komodo team then announced that there will be an upgrade of the Komodo code base on December 15, 2018 at 1:00 UTC. Some of the features that will be activated by the upgrade include Sapling Upgrade, 10 new asset chain parameters, and an increase in block size for all updated chains, from 2 MB to 4 MB.
A blog post from the official site of the network stated that the December 15 update is a mandatory hard fork that will give the network leverage to accomplish more and give greater benefits to users. The post read,
“Please note that this update is a hard fork and is therefore a mandatory wallet update which should be completed before 01:00 UTC December 15, 2018.”
It noted that a number of exchanges have already disabled their KMD deposit and withdrawals pending the fork after which these services will be reactivated.
The details said that the update may well be the most massive one for the Komodo network adding that more than 500 source files are involved in the upgrade. The developers said that all necessary precautions will be taken to ensure a seamless transition by collaborating with all exchanges with KMD support to safely have all wallets updated.
The post added,
“Also, being such a major update means there are always unforeseen communication challenges to tackle and understand this may cause inconveniences for some. We are committed to working with exchanges and all parties to continually improve lead times and timelines.”
The announcement said that many of the features were inherited from the coin ecosystem and are aimed to enhance user experience. It mentioned that the Sapling upgrade was first developed by the Zcash team.
The Verus Connection
Zcash is one of the best privacy coins. Some features are courtesy of Verus coin recognized as a friendly fork of Komodo. This upgrade is already functional in Verus and will be applied in Komodo by December 15.
The Komodo Sapling project was led by Mike Toutonghi who was a lead developer with Verus before being announced as the Komodo Strategic Advisor.
The Komodo Sapling has been packaged to include additional parameters in boasting the traditional open source. In the blog post, the team wrote,
“In addition to this upstream, which includes 6 new asset chain parameters, Komodo is adding 4 additional new parameters for asset chains, making this a massive technology boost for the entire ecosystem.”
More Features in Komodo Upgrade
Information reaching Cryptoinfowatch Komodo Coin News shows that other features of the hard fork that will be implemented on Komodo include
- The VerusHash algorithm, bringing near-equality between CPUs and GPUs with the fastest CPU mining algorithm in the world
- The VerusPoS algorithm, allowing for a 50/50 hybrid blockchain, which can be combined with either 50% VerusHash or 50% Equihash for the proof of work component.
- Time Locking, which allows mined rewards to be timelocked for random release, within a set of parameters.
- The “Eras” parameter (ac_eras), allowing 3 eras of different coin emission schedules to be defined which alter emission, including slow start options, and linear exponential decay at specific, predetermined block height schedules
The team is excited to host implementation of the new code upgrade and that Verus chose to build upon the Komodo platform.
The excitement is that as a truly open source platform, Komodo is poised to boast features that will attract greater partnerships and collaborations with other networks.
Platform For DApp Testing
It will be recalled that the Komodo Custom Consensus was built to enable dApp creators test their applications of the Komodo platform. The Komodo notary node scripts were specifically developed for this and has proven a success after initial tests.
It enables third party users to test decentralized applications using a team of experienced dedicated testers as well create more awareness among the community of such dApps and its functionality
The essence is to test for fungibility between staked chains for week to week testing.
Hiring New Hands
Well, even though some of these were past works embarked on by the Komodo team, we are not in doubt that this is one of the promising blockchain platforms due to the consistency in commits to the goals of the project. Komodo is also hiring new hands to assist at its community level. You can check the Twitter update of October 9, 2021:
— 🦎 Komodo (@KomodoPlatform) October 8, 2021