What is Komodo and how to exchange KMD at the best rates
Komodo

Komodo

 KMD

There is no doubt that the future of blockchain and DeFi will favor only those platforms that provide multi-chain user solutions. The hard cold truth is that your project needs to be multi-chain to become competitive. And that’s where the debate about which blockchain platform is the best foundation lies. The Komodo project, a multi-chain platform, is a blockchain project that seeks to provide business-friendly solutions that are secure, affordable and speedy. In today’s article, we take a deep dive into Komodo, what it is, key features, partnerships, and how you can buy Komodo coins.

Komodo Exchange Rate

KMD by TradingView

What Is Komodo?

Komodo is a privacy-oriented cryptocurrency project that promises to provide more privacy and security using its own ecosystem. Komodo’s blockchain development can be traced all the way back to 2014. Therefore, Komodo is one of the pioneers of multi-chain architecture in the blockchain industry.

The platform relies on a technology referred to as a Delayed Proof-of-Work (DPoW) consensus protocol. Additionally, Komodo offers a technology suite known as the Antara framework that houses tools for blockchain development, a library of built-in modules, an open API for building blockchain-based apps, and an app-specific Smart Chain.

Key Features

After several years of innovation and development, the Komodo multi-chain architecture has become a solution to problems that challenge other smart contract platforms. Some of the major features that the Komodo platform relies on include:

Security

Through the Komodo platform, you can enjoy the protection provided by Litecoin hash rate. Through Komodo’s Delayed Proof-of-Work consensus mechanism, you can spend less time worrying about attackers and more time developing your project.

Scalability

As a developer or a user on the Komodo platform, you have full access to the Komodo smart chain. Not to mention, you also have the ability to create more than one blockchain and combine any number of them into one cluster. Therefore, if your project grows beyond the capabilities of a single chain, you can simply add more.

Interoperability

Thanks to Komodo’s industry-leading Atomic swap technology, it’s possible for one project to become interoperable with all other projects within the Komodo ecosystem. It also enables all these projects to be connected with over 99% of coins and tokens on the platform as well. Therefore, you can simply transfer assets and tokens between any and all compatible smart chains.

Adaptability

You can create and adapt your smart chain to be a solution to a problem that fits your individual needs. This you can do with the help of the Antara framework.

Komodo Coin

Komodo coin is Komodo’s native cryptocurrency, otherwise known as KMD. Thanks to the DPoW consensus mechanism, the Komodo crypto is an integral part of the Komodo network. KMD is mineable using the Equihash algorithm and a total of 200,000,000 tokens will be issued by the network. Currently, over 120 million KMD tokens are in circulation with the last coin expected to be mined in 2030. KMD initially began as an ICO which lasted from October 15th all the way to November 2016. The ICO event raised 2,639 BTC which was valued at nearly $2 million at the time.

Ecosystem

Komodo ecosystem’s composable design makes it a choice platform for a wide range of blockchain projects and dApps. Currently, there are several projects building their own independent chains on the platform. The focus of these projects spans a wide range of use cases such as digital privacy, gaming, instant messaging, and lending. The ecosystem allows any developer to create a fully independent chain that’s secure and exists in a competitive environment.

Partnerships

Thanks to its multi-chain architecture and cutting-edge technology, Komodo has become wildly popular with both enthusiasts and investors across all manner of industries. Therefore, it has formed crucial partnerships with several companies to enable the continued development of the Komodo ecosystem along with the apps being built upon it. A few key partnerships include:

  • Travala
  • Amazon Web Services
  • Google Cloud
  • Binance chain
  • Atomic DEX
  • Tokel

How to Buy Komodo Coin On Swapzone?

If you are wondering how to buy Komodo coin worry no more. In this section, we are going to show you how to buy Komodo coins using the best KMD exchange aggregator in the market. Simply head on to the official Swapzone website and follow the below procedure:

  • Step 1. Launch Swapzone on your computer browser.
  • Step 2. In the “select pair” tab choose BTC as the coin that you wish to exchange to receive KMD.
  • Step 3. In the section “get up to” enter KMD.
  • Step 4. After you’ve entered these details along with the correct amount, Swapzone will provide you with a number of Komodo exchange offers from the exchange platforms it has partnered with.
  • Step 5. Go through the different offers and select the one that you want.
  • Step 6. Once you’ve narrowed down an offer you want, select it and click on “exchange” to proceed.
  • Step 7. Do provide a wallet address to receive your Komodo coins. You may also provide additional details if you so wish. Click on “proceed to exchange” to initiate the process.
  • Step 8. Once the transaction begins, it may take a while before your coins show up in your wallet. Just give it a few minutes.
  • Step 9. The process will finalize and you will receive your coins at your wallet address. After this, just take a moment to rate the experience and leave behind an honest review.

Popular pairs to convert Komodo

Frequently asked questions

What is the Komodo exchange rate?

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An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.

There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.

Where to find the lowest transaction fees?

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Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.

If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.

What is average transaction time?

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Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.

The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.

The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.

How to choose a cryptocurrency wallet to store Komodo?

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To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.

There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.

If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.

What is the best cryptocurrency exchange for beginners?

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There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.

To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.

What is Swapzone?

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Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.

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