Focus Fire: Komodo (part 3)
In the Focus Fire series, we take time to really get to know a project and focus on different elements of what makes the project great. We hope it provides a better understanding of the technology and its vision to the larger cryptocurrency and blockchain community. Today, we continue our examination of the Komodo platform by looking at its massive capacity to scale and be customized, far beyond the limits of more traditional blockchain technology.
In Part 2 of our Focus Fire series about Komodo, we examined the project’s solutions to the problem of security, namely, Delayed Proof of Work (DPoW). The usual trade-off for increased security is diminished scalability or speed, neither of which is a problem for Komodo’s technology, due to innovative solutions to the scaling trilemma. Thus, the Komodo platform retains security, while being capable of scaling limitlessly and offering extensive customizability.
How does the Komodo platform allow for such extensive scaling whilst retaining security?
It goes back to our earlier analogy of the Komodo platform as a multiverse. Instead of relying on a single blockchain that must bear the burden of all activities in its network, Komodo allows for dedicated, independent blockchains for each project on its platform, even allowing for individual entities to operate on multiple blockchains within its platform. Because each entity existing on the Komodo platform can operate its own blockchain or even multiple blockchains, scalability problems vanish.
Not only do scalability limitations vanish, the platform’s customizability offers limitless possibilities. Komodo offers white label tools that enable precise and detailed levels of customizability, unlike previous generations of blockchain platforms like Ethereum, where developers would have to figure out and design functions or be stuck paying a consultancy team to slog through the work on their behalf. Multi-currency wallets, decentralized exchanges, block explorers and even crowdfunding via decentralized ICOs are all tools made available on the Komodo platform. With these dedicated tools available, blockchains can be custom-built with a variety of construction and design tools, then notarised via KMD, and finally deployed independently.
Since all of these Komodo “universes” operate independently, they are not hampered by scaling issues on a central network. Yet, they can interact and benefit from the development and improvements of the Komodo platform, with updates being extended to all Komodo blockchains.
This is what a blockchain platform should do — act as a service, a platform to provide the opportunity for creative innovations, unfettered by the restrictions of any of its parts. Komodo decentralizes the blockchain itself, breaking the chains of technological limitation. Through this approach, control is in the hands of developers, not centralized into the hands of the platform itself. It truly is a fascinating platform with massive potential for the future of blockchain.
We hope you have enjoyed our series about the Komodo platform! Special thanks to Steve Lee, CMO of Komodo! The team at CryptoMurmur learned a great deal about this fascinating project in our discussions. We wish you all the best in your pursuit of a liberated blockchain multiverse!