In the Under the Microscope 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 begin our examination of the Komodo platform. Komodo has been seeing a ton of attention in market action and industry buzz lately. It’s a fascinating project with a long list of innovations, and it just might finally be starting to get the recognition it deserves.
Komodo, or KMD, is, at its simplest, a blockchain. But that is a severe over-simplification of the innovative technology.
Think of it this way to gain a little perspective:
Bitcoin can be thought of as being the first generation of Blockchain technology. The OG blockchain. The one that started it all. And to this day, it still does a great job at what it does, being the most foundational and secure blockchain. But other blockchain technologies have come along that have added features and greatly enhanced functionality.
That’s where a blockchain like Ethereum stepped in and established a new take on blockchain technology. When Ethereum first came along, it distinguished itself by not only having the basic transactional capacities of Bitcoin, but also by adding the capability of running smart contracts and of being a blockchain operating system upon which to build decentralized apps, or DApps.
With Ethereum, developers can create tokens that can serve specified functions, operating on top of the Ethereum blockchain. Ultimately, all of these tokens still directly depend on the main Ethereum network, and are thus limited by its technical capacities, as has been witnessed by the numerous occasions where we have seen the network grind nearly to a halt when under pressure during peak times.
This is where we get to the next level of complexity. Komodo exhibits, in many ways, this next generational step. Not only does it have the capacities of previous generations, it is much more capable and more broad in its functionality. Whereas Ethereum is a sort of hub with tokens spoked out from a central entity, all highly dependent on the abilities of the central hub to keep pace, Komodo operates in a completely free manner in comparison.
Think of Komodo as the multiverse. Within Komodo, there can be an infinite number of “universes”, each with their own laws and conventions — interdependent, yet very much independent at the same time. Every attribute that the Komodo multiverse has is transferable to each universe — so the remarkable transaction speed of the Komodo blockchain, for example, is available to every independent Komodo-built blockchain, but is not limited by the capacity of the Komodo blockchain itself. This is not a hub with spokes, it is, indeed, a multiverse consisting of infinite universes.
This truly liberates blockchain in ways not possible in other iterations of the technology. In the Komodo multiverse, each Komodo-built blockchain is like a drop in the Komodo ocean — a complex of molecules that is its own entity in a larger pool of entities, but not interfered with or hampered by other such entities.
It’s hard to wrap your mind around just how huge Komodo is when compared to these earlier blockchain iterations. Imagine a highway with two lanes. As traffic builds on the highway, it slows to a crawl. Earlier blockchain technologies have found ways to add lanes to increase traffic flow, but at some point, if the highway is popular enough, it gets filled and requires yet more lanes to keep up with demand. Side lanes can even be added, but these still have limitations, and at some point must rejoin the main highway to have any genuine functionality.
Komodo offers every single blockchain its own dedicated highway. The difference is significant. No single highway is dependent on any other highway, and traffic is free to flow on each independent highway according to the designs of each individual blockchain built on Komodo.
This is why Komodo is often referred to as a platform, rather than as a currency or protocol. But even the word “platform” does not really do it justice. Instead, think of it as the Komodo multiverse — a superstructure that can grow and build in a manner not possible by simply building up from a relatively flat, static, or singular central structure.
This is decentralization at the next level. There is no single central blockchain that must bear the burden of transactions and interactions. Instead, every blockchain — every “universe” in the Komodo multiverse — has its own fully independent capacities.
As we continue the Under the Microscope series, we will take time to look deeper into the Komodo platform and learn more about the underlying technology, the broad variety of entities operating in the Komodo ecosystem, and the key people behind the development of the platform.