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Exclusive: Komodo GM Explains How to Build on Bitcoin without Being Constrained by It

P. H. Madore
bitcoin komodo

CCN had a moment to speak with Ben Fairbank, the general manager of Komodo (KMD), a community-oriented smart contract-centric fork of Zcash. Komodo offers a usable layer between the world’s largest proof-of-work system, Bitcoin, and decentralized applications.

Komodo enables tokenized systems to rely on the security and immutability of the Bitcoin blockchain without having to build directly on top of it. They have pioneered the “crypto conditions” aspect of smart contracts. In layman’s terms, smart contracts can run on Bitcoin-based blockchains with the same degree of usability as Ethereum smart contracts.

Delayed Proof-of-Work

komodo cryptocurrency bitcoin

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Komodo uses something called delayed proof-of-work (dPoW). Delayed proof-of-work provides developers with the ability to conduct fast transactions on their independent blockchains. Within 10 minutes, notary nodes notarize such transactions on the Bitcoin blockchain.

Read the full story on CCN.com.