In today’s world, people start investing in digital currency or cryptocurrency. In the market, various cryptocurrency is available that fascinate traders to invest their money in the purchasing and selling of digital currency. Komodo and Cardano are two such cryptocurrencies that are available on trading platforms.
The symbol of Komodo is KMD, and Cardano is represented by ADA.
Key Takeaways
- Komodo is a blockchain platform providing secure, private, scalable solutions. At the same time, Cardano is a decentralized platform that aims to provide a more efficient and secure way of transferring and storing digital assets.
- Komodo uses a unique consensus mechanism known as delayed proof of work, allowing it to achieve high security. In contrast, Cardano uses a proof of stake consensus mechanism, which provides a more energy-efficient way of verifying transactions.
- Komodo has its native cryptocurrency called KMD. In contrast, Cardano has its cryptocurrency called ADA, which is used to pay for transaction fees and other services on the Cardano network.
Komodo vs Cardano
The difference between Komodo and Cardano is that Komodo is a blockchain platform that allows the user to make or create their blockchain, and it consequently hosts the sale of the token. It is considered as a hard fork from a privacy-oriented fork, Zcash. On the contrary, Cardano is also a blockchain platform that is considered to be a more effective and efficient alternative to the PoW (proof of work) network. The major objective of Cardano is to be a decentralized application development platform.
Komodo is an open and multichain platform of blockchain. It mainly focuses on offering business-friendly and reliable blockchain solutions that would be easily adaptable.
Antara framework is provided by Komodo that offers various useful tools for blockchain development. KMD is a currency that is linked with this platform.
Cardano is also a blockchain platform that is majorly built in five stages. This platform has its primary currency named ADA.
The development of this platform started in 2015, and it was launched for people in 2017. Cardano stands as an alternative to Ethereum.
Comparison Table
| Parameters of Comparison | Komodo | Cardano |
|---|---|---|
| Symbol | KMD | ADA |
| Proof Type | PoW or dPoW | PoS |
| Founded Year | 2016 | 2017 |
| Algorithm | EquiHash | Ouroboros |
| Mining Calculator | Komodo Platform has a mining calculator. | It does not have a mining calculator. |
What is Komodo?
Komodo is a blockchain development platform that is launched as a Zcash fork in the market. It is a multichain open digital currency platform that ensures to provide business-friendly solutions more securely and adaptively.
Various new features are added to build this platform more interactive and customizable.
Komodo offers an independent blockchain platform to clients for their projects. KMD coin is the name of the token or currency of Komodo.
The block time of the KMD coin is 60 seconds, and it includes 3KMD as a block reward. The total supply of the coin is 200 million KMD.
Features of the Komodo platform include open-source, composable, and multichain blockchain development platforms.
Various aspects make Komodo different from other platforms. This includes atomic swaps, scalability, adaptability, and many more.
You can follow a proper procedure to use this platform effectively. Komodo launched tools or features like wallet, AtomicDEX, and exchange, which consequently offers to trade between peers.
The developer team focused on expanding the framework.
What is Cardano?
Cardano is one of the blockchain platforms that came into existence after Bitcoin and Ethereum. The native cryptocurrency of this platform is ADA.
This open-source platform was built by a team guide by Charles Hokinson (also the co-founder of the digital currency Ethereum). This is considered the first blockchain which is peer-reviewed and reliably developed by professionals.
The Cardano platform is developed and built-in five major phases. These phases consequently contribute to preparing a decentralized development platform that also includes smart and verifiable contracts.
This blockchain platform runs on the consensus platform named Ouroborus, which was created in its foundation phase.
Main Differences Between Komodo and Cardano
- Digital currency and blockchain development are getting popular. Investment in these aspects is increasing rapidly day by day. Komodo and Cardano are blockchain development platforms that offer to mine tokens or crypto. Both of these platforms have their primary or native currencies. The native currency of Komodo is called KMD. On the other hand, the primary or native currency of Cardano is called ADA.
- In the trading and investment market of crypto, various platforms are launched worldwide. These platforms provide new and convenient features to the users that help them to easily invest in cryptocurrency. Komodo is founded in the year 2016. On the contrary, Cardano was founded and launched in the year 2017.
- Blockchain-based technology is estimated to reach new heights in the upcoming years. Cardano and Komodo are open-source blockchain development platforms. Komodo was launched as a fork of Zcash, and Cardano was developed by the co-founder of Ethereum. Komodo has a mining calculator feature available for users, but Cardano does not have a mining calculator feature.
- Although Komodo and Cardano are blockchain platforms that are mineable, they have some differences. The maximum supply of these platforms is different, which consequently affects the total supply and circulating supply offered by these open-source platforms to the users.
- To provide an effective and enormous user experience, komodo and Cardano offered a wide range of tools and features to the users. The consensus of these blockchain platforms varies from each other. Cardano has a PoS (proof of stake) consensus. On the contrary, Komodo has DPoW (delayed proof of work).
- https://archive-ouverte.unige.ch/unige:108942/ATTACHMENT01
- https://www.sciencedirect.com/science/article/pii/S0960077920303350
Last Updated : 13 July, 2023
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Chara Yadav holds MBA in Finance. Her goal is to simplify finance-related topics. She has worked in finance for about 25 years. She has held multiple finance and banking classes for business schools and communities. Read more at her bio page.
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