Komodo is another one of those platforms that seems to always be flying under the radar.
Let’s give a quick rundown of some features of this platform:
- It has the privacy features of Zcash (zkSNARKS)
- It will be adding the Lightning Network capabilities of Bitcoin
- They will also offer white label solutions for blockchains and ICOs.
While Litecoin, Decred and Zcash have been in the news lately talking about their advancements with atomic swaps, @komodoplatform has been quietly plugging away.
So let’s check out their decentralized exchange that has atomic swaps as its main focus.
BarterDEX is the decentralized exchange for the Komodo Platform and it is the first to supply users with order matching for atomic swaps.
Right now their atomic swaps are limited to Bitcoin compatible coins
While before you would have needed to download the entire blockchain of the coins you’d want to trade via atomic swaps on BarterDEX, they’ve now made the improvement so that you can now conduct an atomic swap using Electrum servers. These are hosted nodes so you will not need to download the entire blockchain of each coin that is being traded.
The only trick now is that there will need to be an Electrum server for the coins being traded in order for you to bypass the need of downloading the entire blockchain which takes a lot of time and space.
Komodo has taken the responsibility of hosting Electrum servers for the most popularly traded coins so these coins can be more easily traded. If a coin wants to be a part of this exchange they can host their own Electrum server and contact the Komodo team to be added to BarterDEX.
As of right now their wallet that you would use to do atomic swaps on this exchange will only work via command line.
So it’s true that right now this is limited to experienced users of crypto and computer programming.
Let’s take a better look at what else Komodo can do.
Komodo has a system called Jumblr, which essentially combines traditional coin mixing techniques like: uniform coin amounts, and sending all transactions at once, they are also working towards obfuscation of location tracking of your IP address used to send or receive a transaction.