China has released its latest crypto rankings and at number 3 is Komodo (KMD). Komodo has been at the top of Chinese rankings for a while now, which means that the Chinese authorities do like this project. This could be an asset for Komodo’s adoption, in the massive Chinese market. But from a tech perspective, what really makes Komodo stand out?
Looking at the Komodo website, Komodo is a platform that allows anyone to create their own blockchain. But this is the same thing that all platform blockchains do. Ethereum, NEO, Cardano and the rest are designed to allow techpreneurs to develop their own blockchain for whatever purpose they want. However, the platforms blockchain market leans heavily towards Ethereum, which why so many hyped “Ethereum killers” never succeed. What makes Komodo unique is that for a relatively small project that is ranking highly on the Chinese tech ladder. This could drive Chinese Dapps developers towards it, especially those whose functionality is geared towards the public sector. This is without a doubt a major plus to the long-term value of Komodo.
However, the biggest asset to Komodo is the fact that it has an edge in atomic swaps technology. Komodo’s BarterDEX implements atomic swaps technology, which means people can exchange their cryptos cost-free, and without the need for escrow services. Through BarterDEX, Komodo is bringing the dream of true peer-to-peer decentralization to fruition.
With all the problems that centralized exchanges have shown recently, especially with regards to crypto hacks, the BarterDEX platform that is powered by atomic swaps is a step ahead of the rest. And since this exchange runs on Komodo (KMD), it follow that the exchange adoption will play a huge role in the growth of not just the crypto ecosystem, but also on KMD as an investment as well.
Another interesting aspect to Komodo is that it is also a privacy coin. Komodo is a fork of ZCash, and carries all the privacy of ZCash with it. Since anonymity is an interesting aspect to crypto, this aspect gives Komodo a huge intrinsic value in the markets.
Clearly, the Chinese ranking of Komodo is not by mistake. It has the tech to back it up. A combination of a decentralized exchange that implements atomic swaps, privacy and a platform that allows for the development of personalized blockchains give it a huge intrinsic value.
From an investor perspective, these features make Komodo a good long-term hold, one has the potential to gain significantly in the long-run. Besides, Komodo has another critical aspect supporting it, and that’s coin supply. While most of Komodo’s competitors in the platform blockchains market have a supply that runs in the billions, Komodo only has 109 million coins circulating. This means that in a bull run, Komodo could gain faster than most altcoins that are bogged down by a large coin supply. It’s definitely a good altcoins to watch for those investing for the long-haul.