Despite a nearly global market dip, the Komodo token’s price jumped as news broke that the project would soon add support for more than a dozen blockchains.
Plans are being made by the company to launch a new collection of NFTs.
Cross-chain bridges allow us to communicate more effectively between different blockchains. But, there are vulnerabilities to this that must be resolved in order not to cause any harm or exploits to the networks to which they connect.
The hack of Wormhole Bridge linking Ethereum and Solana is one example of a vulnerability because it didn’t take care of its security measures when connecting two different platforms. It didn’t have any security measures in place, and this led to disaster down the road.
You may also like these related readings| Solana’s Price Rises by 10% to $325 Million on Wormhole
Komodo, a new project that focuses on interoperability and is drawing increasing interest, has a unique approach. This network allows non-custodial trade and includes 13 blockchainsWhile respecting privacy as its fundamental values.
The innovative platform is one of few decentralized exchange (DEX) platforms that can support networks outside those supported by Ethereum’s Virtual Machine (EVM). As long as the network shares Bitcoin’s source code, this DEX will work with them seamlessly and efficiently.
Users can trade any asset against another using the cross-chain swap tech. Smart contracts are no longer necessary, which makes them more secure and efficient.
Komodos NFT Collection Launch News Making Hipe
Komodo revealed that Cyber Komodos will be launched, which is a collection 777 NFTs. Following the release of the news, there was an increase in the activity for the token. Each item will come with unique characteristics and varying rarity levels, ranging from uncommon to common.
You may also like these related readings| What is the source of NFT’s value?
With Komodo’s tokens launching nearly here on 15th March, it’s no surprise that price has been on an upward trajectory. Investors will see a rise in their investments portfolios at $0.69, up from $0.45.
KMD may be an attractive investment choice due to our technical analysis of a variety digital coins such as Komodo. KMD Worth is a virtual currency that offers a great return on investment over the long-term. I suggest buying it now and watching how it rises.
You will receive 184 KMD by purchasing Komodo for 100 dollars today, at 0.543 US Dollars. We expect long-term price rises over five years and a talent growth rate in excess of 91%. These are our projections. In 2027, your $100 investment might be worth almost 192 dollars
Komodo
Komodo, the leading blockchain platform, is designed with security and scalability in mind. Komodos provides an architecture that allows users to create their unique chains or “tokens” on the platform without affecting other parts of this system.
Komodo’s cutting-edge technology offers developers various tools to create blockchain applications.
This allows you to create custom blockchain apps and connect them with other blockchains. In addition, the platform is powered by an open API that allows developers to create their own modules for the Smart Chain Library – making it one of a kind in its class.
Featured image taken from Pixabay. Chart from TradingView.com