Ok. Listen up. This is not your average meme coin post where I tell you to buy into X Ponzi scheme because I saw a fractal in my morning coffee. In this post, I want to tell you about recent development that will forever change the crypto space as we currently know it.
Visa crypto payments solution Gleec has launched a decentralized trading exchange called GleecDEX in partnership with Komodo. Gleec will utilize Komodo’s p2p atomic swap technology, AtomicDEX.
This is HUGE for Komodo and the crypto space. If you have been here long enough, or you have a crypto savvy friend, you probably know that Komodo’s tech is unparalleled. But let’s talk first about the title of this post.
During its first-quarter earnings call, Visa announced that their strategy is to work with wallets and exchanges to enable users to purchase or to cash out crypto into fiat using their Visa credentials. Imagine a company that already supports 190 billion transactions per year, not just opening into the crypto space, but also launching a decentralized exchange now.
Crypto itself cannot democratize the financial world if we keep using centralized and rigged exchanges. If an exchange gets hacked and is forced into bankruptcy, all the users who held funds on that exchange have no recourse. Their funds are gone forever and there is no way to recoup their losses. Does Mt.Gox hack sound familiar? In AtomicDEX, you never need to deposit anything into the exchange, you trade directly from your wallet. Your keys. Your funds.
And security is not the only thing here. Have you ever tried to log into your Binance/Coinbase account during periods of huge volatily to just find out their servers are down, and that by the time you can log back in, your orders did not execute and now you are rekt? This happen again just 6 days ago when BTC tanked 30%. Nothing new under the sun. It is widely known that big exchanges favour large customers. They lock retail out during periods of huge volatily, and by doing this, big players can scoop the dip before anyone else. AtomicDeX ensures 100% uptime because it is a full peer-to-peer decentralized exchange. Funds can’t be frozen and orders can’t be stopped.
And this just does not stop here… Komodo’s technology is so fucking ahead in security and scalability that just blows my socks off. Komodo features ‘Delayed Proof of Work (dPoW)’, which in simple words is like recycling mining activity. What!?? Yes. Listen up. By notarizing to a chain with a very high hash rate, Komodo “recycles” the mining output to secure $kmd and other smartchains
Komodo also provides this to other chains. This helps prevent 51% attacks for smaller PoW / PoS chains who don’t yet have a mature enough network to guarantee their own security.
NO OTHER PROJECT DOES THIS