The Unique SuperNet Technology Platform Releases 32 Stable Crypto-currencies
Komodo: The Unique SuperNet Technology Platform Releases 32 Stable Crypto-currencies
Komodo is a unique technology platform developed by SuperNet bitcoin Technology Company; with the primary aim of being the most advanced and innovative standard for crypto-currency security and anonymity. Komodo has been listed on Crypto exchange as a good exchange with liquidity and with the ability to protect user’s privacy and freedom.
In common with other crypto-currencies, Komodo Currencies have their own block-chains; however that is the end of the similarity because Komodo Currencies have the significant and peculiar advantage of being convertible into KMD, which is how they retain their value. The SuperNet technology platform has the specialized ability to trade any 2 crypto-currencies safely without a third party intervention, completely decentralizing user’s financial affairs
It is actually a big leap to move from traditional currencies to bitcoin but this can be made easier with clear user interface and instructions. However, it still leaves the user to wonder if a significant amount of money can be kept in bitcoin due to its volatility. On top of this, even the currency conversions can feel alien to most people so far as they have ever carried out transactions in their local currency.
“Komodo Currencies eases this blockchain adoption process by offering users the ability to get started with peer to peer payments in their local currency. Users can always trust the value of their holdings to be stable while they get all the added benefits of crypto-currency”, said James Lee the founder and CEO of SuperNet. “Businesses can easily integrate the Komodo Currencies into their services, and thus avoid credit card fees while developers can integrate it into their decentralized applications (DAPPs), which would not of course be possible with current fiat currencies”.
A fiat pegged crypto-currency is a necessary stepping stone for wider bitcoin and blockchain adoption. The pegging technology uses the Komodo Platform itself in combination with the wider SuperNET development platform resulting in a maintained price consensus that is decentralized for all 32 different fiat pairs.
Komodo blockchain is a secure record book of past price points allowing whoever finds the new block to be able to record another price point. Those price points are used to calculate the conversion rate between the currency pairs. The calculation process is enforced by code and requires a lot of smoothing, so that even if some false price points exist the calculated conversion rate will be correct. The conversion rate is used to convert KMD into any of these 32 Komodo Currencies. The Komodo coins (KMD) get locked out until the local currency is redeemed.
“We have completed phase one of the development process which is a proof of concept, and some restrictions have been imposed to reduce risks. Each currency market capitalization has been capped due to the current lack of dynamic supply. In the second development phase the limitations will be removed thereby allowing the Komodo Currency market capitalizations to grow unrestricted said James Lee the founder and CEO of SuperNet. “A built-in mechanism will ensure that the locked away KMD equals the currency supply. What this means is that even if all the supply were to be quickly redeemed the value of the locked away KMD would be enough to balance it”.
For further information about Komodo visit supernet.org