KMD +13%, Komodo's "Delayed PoW" To Fix Many Chains Problems - Komodo News, Price Analysis. Tuesday, September 4
KMD/USD Price Chart, Komodo News: Bittrex delisting Bitcoin Gold has created controversy, however Komodo's Delayed PoW system could easily prevent the problems caused by attack on BTG. In other news, Komodo coin KMD managed to get +13% in last 24 hours. Tuesday, September 4th.
Komodo Cryptocurrency News
Komodo's "Delayed PoW" To Prevent Many Problems
An interesting discussion broke out on Twitter, after CryptoGlobe's article about Bittrex delisting BTG when Bitcoin Gold Team declined to pay them a significant amount of their coins to remain listed. The money was to act as a compensation for a double-spend attack in May, which resulted in losses for the exchange. The article reminds the situation when: "malicious parties used rented power from NiceHash to perform 51% attacks which they used to attack exchanges with double-spends." The sole Bitcoin Gold's problem is a topic for a whole new article, however Komodo's community noticed that the technology provided by Komodo could easily prevent such attacks and many other problems connected with Proof Of Work based blockchains.
One of the twitter users, @Regnar__ has written:
"Komodo literally offers a service to prevent 51% attacks, preventing exchanges from double spend losses, & protecting chain integrity/reputation/investors from getting attacked/delisted. You saying Komodo shouldn't bring to light that there is another option for PoW chains?"
Official Komodo account also tweeted about the article and BTG problem:
"Interesting to read "51% attacks and double-spends are an unfortunate fact of life in the #PoW blockchain world" @siamakmasnavi @CryptoGlobeInfo. Actually, they don't have to be if a chain adopts 'delayed proof of work' to secure them."
Komodo To Get +13% In Last 24 Hours
There has been some positive news around Komodo's project lately and it may in fact affect the price of the coin. KMD was even listed as one of the better performing privacy-oriented coins on Altdex. The project managed to take away significant part of the market from cryptocurrency giants such as Monero or Zcash, which are the current leaders in that field and have impressive market caps and trading volumes.
For the past week, KMD was relatively stable trading around $1.32 without any notable fluctuations or price spikes. On September 1st, the price surged to $1.44 out of nowhere. However, the cryptocurrency didn't manage to establish stable ground there, as it didn't remain above $1.40 for too long. The coin quickly corrected back to the $1.33 region. On September 3rd, the biggest leap happened, as Komodo jumped from $1.34 above $1.55 in a matter of hours. Moreover, looking at the shape of the price chart, it doesn't seem to go down anytime soon, as KMD decided to confidently push with sideways or even a bit of upwards movements. Currently, it is trading for $1.60 and the trend is still strongly bullish.
KMD/USD Price Chart, Tuesday September 4th:
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