Zcash is a privacy- centric cryptocurrency. The purpose of making Zcash was to introduce zero knowledge, hence untraceable transactions in the world of cryptocurrency. It tends to set new standards of anonymity and privacy by employing a zero- knowledge scheme which can make sure untraceable transactions.
Some people have misconceptions regarding Bitcoin as an anonymous cryptocurrency. However, in reality, bitcoin is pseudonymous cryptocurrency every transaction done by using bitcoin is recorded on the blockchain. Thus, when you use Bitcoin, then sender, amount as well as the receiver information is being recorded.
Zk-SNARK is a zero-knowledge proof construction which is used by Zcash and Komodo brings you with the zero- knowledge anonymous Zcash technology which is not only untraceable.
Creation of Komodo
As mentioned already that Zcash brought forth the concept of untraceable zero knowledge transactions. The cryptocurrency technology is safe and anonymous. Further betterment in technology was introduced to make it more secure and anonymous and hence, Komodo came into being.
KomodoPlatform is expected to be a highly beneficial platform. It aims to take cryptocurrency anonymity and security to the next level. It is protected by the Zcash Zero knowledge proofs and thus, the users can be sure of 100% anonymous and untraceable transactions. Since the creation of Zcash, the anonymous cryptocurrency technology was worth thousands of dollars and since, Komodo is created on the same code, it is expected to make its mark in the industry as well. Komodo will bring you not only the untraceable zero anonymous Zcash technology but also
• Bitshares inspired Witness based consensus system
• NXT style PoS security
• Reliability and security of the Proof of work Bitcoin Blockchain; it is an experimented and proven system kept by the thousands of nodes.
dPoW Consensus method
Just like the Zcash, Komodo is just a PoW coin whereas, the difference is only that dPoW consensus method is at the top of it. Now, Komodo becomes exactly the same efficient as a PoS blockchain because of the notary nodes, dPoW consensus and the round robin mining. More