THELOGICALINDIAN - n-a
Winter is coming, but some of us aren’t planning to hibernate. The crypto bazaar connected to backlash this morning, led by the Komodo Platform, whose bazaar cap jumped by 20 percent. A cardinal of updates appointed for the million-block anniversary appearance that Komodo hasn’t slept through buck season.
Here are some of the eggs the dragon is hatching:
Bitcoin Smart Contracts (Craig Wright charge not apply)
Bitcoin has some acceptable qualities, but activity is not one of them. Unlike Ethereum and added dApp platforms, the Bitcoin agreement is carefully bound to simple accounting commands.
There accept been some abiding marriages amid Bitcoin-based chains and acute contracts. We’ve ahead alien Rootstock (RSK), the Turing-complete ancillary alternation that allows Ethereum-like acute affairs to accomplish computations with approved bitcoins. Bitcoin Cash has additionally activated op-codes for blush tokens and alike CryptoKitties.
Komodo has additionally stepped in with Crypto-Conditions, a apparatus that allows circuitous acute affairs on Bitcoin-based blockchains. “[This] eliminates one of the above advantages that Ethereum has commonly had over Bitcoin and BTC-based cryptocurrencies,” Komodo developers said in a blog post.
Four Crypto-Conditions accept been added to the Komodo codebase, and will be activated at the millionth block: Faucets, Rewards, Dice, and Assets, which can be acclimated to actualize ERC20-like tokens.
Solving 51 Percent Attacks
We’ve ahead appear on the dangers airish by 51 percent attacks on abate blockchains like Verge and Bitcoin Gold, one of which ultimately resulted in the closing actuality delisted from Bittrex beforehand this week.
While the blow of crypto-space speculates on the intentions of Jihan Wu and Bitmain’s astronomic hashing power, Komodo Platform may accept already apparent the botheration for abate chains, via the delayed-proof-of-work accord mechanism. Every ten minutes, a snapshot of the Komodo blockchain—and its associate chains—is appear in a Bitcoin block, finer anchoring it to the astronomic assortment amount of the Bitcoin blockchain. Here it is from the dragon’s mouth:
In essence, the dPoW apparatus provides a anatomy of allowance for your blockchain. An antagonist would charge to booty bottomward both the BTC and KMD networks afore they could alter, disrupt, or abort the backups of your blockchain. The arrangement will not acquire a adaptation of the blockchain that doesn’t bout the best afresh notarized backup.
In added words, in adjustment to double-spend a Komodo token, an antagonist would charge 51% of the assortment ability for both the Komodo and Bitcoin blockchains. Good luck with that.
Komodo is a bit like a Swiss-Army Knife of blockchain tools. It’s not consistently the best tool—sometimes you charge a absolute knife— but with aggregate from aloofness functions to cross-chain exchanges, it’s advantageous back there’s lots to get done.
That versatility could be what’s befitting Komodo’s arch aloft the water, area added cryptos get done abroad by bazaar storms.
The activity still has affluence of assignment ahead, and cat-and-mouse on development milestones can be added annoying than a book by George RR Martin. However, accustomed the admeasurement of new blockchain projects, a arrangement for cross-blockchain interoperability like Komodo’s are acceptable to acquisition added use as the amplitude develops.
Even Jon Snow knows that.
The columnist is invested in Bitcoin and Ethereum.
