Komodo Price, News and Analysis (KMD)

Komodo (KMD) Frequently Asked Questions

What is Komodo?

Komodo is a privacy-centric cryptocurrency that combines the anonymity of ZCash with the security of Bitcoin. Using a new consensus mechanism developed by the Komodo team, delayed Proof of Work, Komodo blocks can be notarized using the Bitcoin blockchain. KMD is issued through an Equihash-based PoW protocol, and the new block information is sent to pre-voted notary nodes. These nodes insert the Komodo block information on the BTC blockchain by creating a custom transaction. This system ensures that in order to "hack" komodo, one would have to rewrite both chains.Komodo uses Zero Knowledge Proofs to provide 100% anonymous transactions, that are now secured with Bitcoin's hash rate. (Description provided by CryptoCompare)

How do I buy Komodo?

It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Komodo.

What do investment analysts think about Komodo?

Weiss Research, an investment research firm that rates cryptocurrencies, has given Komodo an overall rating of "C-", a technology and adoption rating of "D+", and a market performance rating of "B+".

Where can I get Komodo wallet?

Komodo produces its own wallet software that is available for download on its website, which allows you to store Komodo on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

What is the value of Komodo?

One Komodo (KMD) is currently worth $0.89 on major cryptocurrency exchanges. You can also exchange one Komodo for 0.00002086 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Komodo in U.S. dollars is $114.17 million.

What hashing algorithm does Komodo use?

Komodo is a dPoW/PoW coin that uses the Equihash algorithm.

How do I mine Komodo?

Komodo can be mined using specialized mining software. XMR Stak is a commonly-used mining tool that works for CPU mining and GPU mining with both Nvidia and AMD graphics cards. CCMiner is another popular mining tool for computers with NVIDIA graphics cards. In addition to having mining software, you will need a Komodo and access to a mining pool that pools your effort with other miners and a wallet to store the Komodo that you earn from mining. Most cryptocurrencies have multiple publicly-available mining pools that can be found with a simple Google search.

What coins are similar to Komodo?

The following coins use the same hashing algorithm (Equihash) as Komodo: Zcash, Bitcoin Gold, Horizen, Pirate Chain, Alchemy Pay, Flux, RedFOX Labs, Zel, BitcoinZ, Bitcoin Private, Ycash, Zero, ZClassic, TENT and Hush.

What is the Reddit page for Komodo?

The official Reddit community (subreddit) for Komodo is r/komodoplatform.