Is Komodo on the Tipping Point of Mass Adoption? Interview with CTO Kadan CA333
Hey. This is Steve good on the coin chat with my co-host Yuri Cataldo, and today we are with cadence, tatelman, from Komodo gate, and welcome, to the show today it's great to have you welcome, hi guys hey thanks for having me it's a pleasure thank, you for being here it's a very, exciting because Komodo has obviously become you know quite. A name in the market you guys have been around since 2016. And. From. What I can see you guys your name is getting bigger and more recognized, in more places so, it's. It's, great to have you to really get a dig it and find out more about the project so would really love to just you know tell. Us everything, you can about the project, but, before, we start you. Base a, three, three three, of. Course our I'm sure many people would like to know the, hell is see a three three three. Well. The CEA actually, I'll just tell you straight I'm. Not gonna hide it within a puzzle, or like turn it into a riddle. If. You'd like. You. Know I've always been like fascinated. By cryptography. Always. Been reading, a lot about this side of things, even in my during. My my younger, age like, even. Preteen. Age I was, fascinated I, mean first. Algorithms, that I learned were like the Caesar shiver, for, encryption/decryption. I. Remember is a little boy actually was like playing with my dad then we were like encrypting. And decrypting like, little textures, like hello bye. What's your name and stuff like that and, and C. Stands, for crypto, so that's, that's like one of the ideological divisions and I had, a. The. Second, one I mean it's still in my name I wouldn't like referred to me as a few, whole of that, but it stands, for energy, not in a negative sense no of course. But. More, further for, the open, liberal. Free. Side, of things that FX more like the idea. Behind the energy, and. Three. I mean we all know like from the Trinity and and just. General, three it's a prime number I like. That number a lot yeah, and you did three times, yeah. I have a three times so I'm, more like yeah. Actually yeah, I'm multiplying the, three on three. For. Double, the Trinity, all, the drives actually yeah, but three is a number that I feel like fascinated, this same, with seven, right, so right 73d. It's 6:30. 773, it's like the best number in my eyes and our core leader. And visionary, James. 3jl. Triple 7 mm-hmm. Had the 17, I took the three and seven three eight it's like the best. Would, be the palindrome like. Same. Number again backwards. And, it, has many many really interesting, properties. From. A geek perspective. It's. Interesting yeah just look into salmon just took in two three looking at the combination of those two and there was the reason why I took if. A seven would have been free I would, be see eight remove salmon but James. Earlier. So he took the. Best. And. You're you're the CTO of K of Komoda, right. Yes.
Right So have you been involved with the project since it's very inception since, the very beginning of it since. The very beginning yes, I haven't started in this position, but, still, I was, around like at the very beginning, already at the times of the announcement, and I've. Joined the team officially, publicly during the Alpha. Network like during the test network and before I, co. Was finished, oh cool. Yeah. A long way you've developed quite a lot that two-year journey yeah. So, Cayden, how would so your platform, does so many things how. Would you describe. It to somebody who is new to the platform in, like, the simplest way possible okay. If it's not a def then. I just say it's it's, a commode itself, became. A tool, like, it became I mean really a non-technical. Absolutely. Not person. Right I'd say became, a very, mighty blockchain, tool which. Basically. Doesn't just cover one simple, use case or two simple use case but. Further more low-level. Problems. Right so, our tech would allow you to cover. A lot, of different use cases a lot of different problems in the blockchain space, and not. Just a specific show, use. Case show case I think. Like the best example, for this is, how. We started, and what, we became now I mean right now you can take komodo and use, it to create your own blockchain, within a second mm-hm. You'd, enjoy Bitcoin, level security, while, creating. Your chain right and at the end of the chain creation, you would, be immediately, tradable. In, the decentralized, exchange right, without. Going through and my listing, processes, right you'd potentially, pay a fortune, of getting listed so, this, open. Flexible, liberal. Interoperable. System. That it is right now, Tomic. Swaps as a result meaning that you can create way, into any coin so, long as exactly that if you're the. Bartered ex right yeah, yes so how does one get into the barter Dex do they just put their coin in there and say I want to be in it or what do they have to do to get into it. Okay. I mean right now we are currently working on the, end-user, application. On the graphical user interface, for barter Dex right right, that. Would imply, the following, situation, for an end-user for a new for someone who is just not technical, enough to use it like we do so you'd have like a simple app you'd run it on your smart phone you. Would have a deposit address just, like you have on a centralized, exchange however. That, address and the associated. Private, key would, always be fully, under your control there's, no central, entity handling. Regulating. Or or even controlling, the transaction, right this, is like the biggest benefit, and so. Your first step is a end user would be to, just deposit, the, amount of, tokens. Of value, onto the. Trading. Engine like, a centralized, exchange sure, that, you want to trade but. But that's, literally. And. The. Security, part was actually a hard, fork right. The. Security, could for the privacy part of the obviou of the blockchain. Was. Part of the hard fork from. Um. I forget the coin I was addy, that. Right it C cash Z cash yeah it's. K4z. Career based on. Z. Cash yeah that's correct and when. He created, our cryptocurrency, we were basically, a fork a clone of Z cash and, based on that cryptocurrency. We, implemented, our logic, the, work that we did a couple last years I mean James been around for a much longer time he's been around since. 2013-2014. Wow. Last. Couple of art I have brought round that he might be actually. Satoshi. Nakamoto, freaking. Actually need you to and. They've. Been like religious. Area in. Atomic. Swap, protocol. Initially. It was based on tier Nolan's protocol. Specification. However, James turned it into like a piece of functioning. Software, okay. That. Wasn't all as when. We started as a base fork, is a clone of the cash we we, immediately, implemented, this so-called Depot, which, is the security yes, it was some sort of hard fork right after. Copying that cash we hard fork our own chain to have all the implementations, and everything running and I. Think you were referring to a recent hard for if I'm not mistake right. Yes, yes. Ok, that was a yeah there was like some security, issue, on. The. That cache core, and. We've. Been contacted by so that cache team they've. We've. Got the vulnerability.
Disclosure From, them oh that's, very cool and it is that's very active right, exactly. So they informed us we we. Contract, the, vulnerability. Disclosure. Agreement. And the security collaboration, agreement just so there's like some sort of guideline. And and base. For this year and we immediately implemented, it the, same month so we had everything implemented, in same month, and around two weeks later we run the heart fork and had everything fixed, that's well that's really cool to hear about communities, working together like that that's really us and we don't hear about that every day so just to just the fact that you forked from somebody, else to create your base chain and yeah. It's. Fantastic yeah yes. Yes in the background we all do we all have like strings. Attached to each other we all communicate we, all collaborate, that's, great, where'd, you guys get the name Komodo from by the way. Well. That's. Ganesha. Yeah. Well. It's somehow based, there but we had like the iguana, protocol, right which was like ahead of Komodos times was created, and developed back, in the day so, the first iteration of, the decentralized, exchange and, a, lot of other, technologies. That you see today in Komodo they. Were developed. Under this. Big, brand super net back in the day right that's like a long time ago that's NXT, time space right. And and. Since. We had already like these exotic, names like basilisk. For the network protocol, iguana. For, the applications, even our wallet, what's, called iguana back in the day right they'd wanna wallet so, yeah. One. Thing led to another it, was like a chain reaction and, somehow we we, just landed, there with Komodo. Furniture. Mostly. Like lizards, they are fast they are strong, they are intelligent so, yeah. Cold-blooded. Is. About the Komodo team but. So. One. Question I mean I'm gonna go a little bit into some of the business side of things because what, I see is that you guys raised about 2 million you, know in your IC o---- in what. Was it like October, November. 2016. Something like that about two million dollars so that's not gonna last a company very long that's building a business so what. Is it that you guys are using to kind of fund. The, employees. To pay for salaries to monetize. The platform, itself is can, you just give us kind of a an updated. Any sort in terms of where, you guys are in that space sure. Sure so I, mean we are aware that many projects, are currently struggling with a financial layer however Komodo, is even still hiring right, right. Now as we speak we have around 50, to $100,000, in open. Bounties, right for. Tech implementation. That we are offering the community, so, as, you can obviously see we we're not running into any financial issues, I mean we gladly are in the position that we had James just triple 7 it, was like pretty pretty.
Skilled Pretty experienced, with the whole ecosystem and, such so although, we. Just raised this this, limited. Number of funds, James. Always have been like able, to kind of manage additional. Revenue streams additional, technologies, that kind of create additional revenue for, Komodo for, supernet, right. Now in our current position. Situation, would. Be easy. Able. To, keep operating, for another five to ten years without. Having to think, about anything, really. However, yeah, really however, we, tend to solve, problems, before they arise before, they become reality, so, I'm, not sure if you know, but this is a little info that I can leak today that Komodo has been working on a block chicken as a service system over, the last around. Six months now. I'll. Just break it down abstract. What is it okay this is a centralized, web application, that we speaking, about that you can just get online. Www. Create my chain comm you. Just click, what do you want your chain to be what if, POS, POV, maybe hybrid form what, sort of algorithm do you want do, you want D pool do you want to be, supported. In a gamma in barter Dex whatever, you, have this, mighty. Flexible. Configuration. Possibilities. Which, would you allow you to afterwards, just click one button it's, really a matter of clicking get. Much a normal and eight and. This. Feature is is, able, to do, this within. A matter of seconds, so v, under 15 seconds just, pin up a chain and heavy life and usually so create my chain comm, well. This is just what I'm just, a subsided or saying, a local domain, I hope the domain wasn't take I'm not gonna buy that right now. We're. Gonna buy it yeah, yeah otherwise. This white guys fortunately. Through the live episode, it'll go out later so you've got some time in between recording, and going live to say it okay. Sorry. So. Back. To the monetization part so what is it that you're that, you're doing that's actually bringing, money into the platform itself because when I look at the platform, I see, a lot of cool, features a, lot, of amazing things about blockchain, and about scalability, and security. And adaptability, the. Interrupter, prop. Interoperability. Between chains, all. Of that sounds amazing I'll give you I'll give you one of my kids you see you look at it is what's generating, revenue to keep that ability, to stay alive for five ten years and I like because there's so many I SEOs that are like oh my, god you know we're not gonna survive three months I mean I'll be straight yeah, we have really lucky with three investments. Right. With, allocating. Funds properly, which. Luckily, led to a maximization, of those funds this is like a point one point two is just giving, you one example on, the, blockchain. Necessary, system. Ref, you got online on that system created, your chain with, two sync. Nodes to, have an online peer-to-peer, network, and then. Block Explorer okay. So three servers and the chain life here, pretty mind, okay, whatever it will cost us around sixty bucks a month okay if. We'd. Resold, this for one hundred seventy seven point seven US dollars, we'd. Have more, than a hundred bucks, in profit just out of this service northern, package I just described, to you create, your chain have to sync notes and a block Explorer it's, just the optimal. Really, optimal. Test. Chain setter for deaths for people careers on the tech etc, yeah, if you are able to manage a thousand, people to, just spin up a test chain for under 200 dollars and we, both know this ain't hard at all then we have at least a 10,000 people crawling. In Bitcoin talk asking, how to create their chain cuz they believe I'm gonna making a billion and fortune out of their own Lock chain right so yeah just say if you just cover. Area. The dreamers. You'd, make if you'd cover a thousand, dreamers you'd make over, $100,000. In profit awesome. Location, service system I'm so the thing is you don't because I mean this could be a first for a YouTube channel to launch their own blockchain, so, how. About we do a challenge your way and you give us when you're ready the, system to start with we don't know what we're doing but we'll all sure you, to chain, chain, on Komodo, and we'll jump together just, for the sake of it and Yuri, and I bluffed here's, a things we could do with coins say. Eyes. On it to do that you'll get I will give you an edition 1020, bonus. Keys that you can.
Rather. For campaigns what I'm that's. The code name by the way I just licked it we'll, be able to. Spin, up a chain for free so we'll cover the first say, the. Line. Could use its chain, lizard, chain, Lee so. What is chain lizard. Well. You know a lizard, right. Yeah. Yeah. The. Same. Guy. But when he opens it, okay. But the straight guy he's not criminal. Exactly, let's say it's, just to give you a deal one way or the other yeah. You. You. Oh dear. Carroll will be editing. You. The. Trades that also, floats back into the air let's. Talk another point you mention right. On. Pop for example there Depot technologies, we. Have. Some. Enterprise-level. Solutions for. The delayed from of work security, layer so, that's another revenue stream that we are already utilizing, right, now that is generating, revenue right now just for your right Wow. I. Had. Some sort of an internet, delay. And I lost like the last 30 seconds, oh I can, repeat if you want with you know I'll write it out, the, previous and I'll just cut it back in because I'll have to be sure your the top was about the revenue stream and this this blockchains. Service. System, is really just one of a revenue stream generating. Right software. Application, that are built with comodo as you. Know for example the part of the X network decentralized. Change same, thing just, gets a very, tiny fee, for all atomic swaps which. Floats, back into the Komodo ecosystem, again right so, we, have various, layers that. Are generating, revenue and even once around generating, revenue, as we speak for, example, depo the delayed proof of work system, as. An. External, third-party tool could you to pay a tiny service, fee for the maintenance service benefits etc to. Be secured, by our technology, so as you can see we have really various. Spending. A little bit of money it's a volume play as long as you get people on the system using it that. Makes sense I. Mean when, I look at the way the Komodo. Platform, is designed it's, you know it's all about. Instantiating. Creating your own blockchains, how. Many projects, do you have they've created their own blockchain, as side. Chains to the main Komodo. Platform. So far I tried. To do some research it was very hard to find it that's why, if. You check. Official. Integrator, chains in the echo system that, means they are not just create. The chains none but. Really being used utilized. I would, have to like to tell you a precise, number because. We literally, add a new chain. Like every, day or two every really, and depends. Yeah, we have a lot of things spinning up but we have a lot of even third-party, tokens contacting. Us and asking. What. Does it take to migrate. 23. Yeah cause we've, seen like, when I create my Chinon Komodo I get the x-axis, I get SPV infrastructure, I get your support your knowledge, everything. All your tools we have a wallet by tomorrow if you created the chain today if, you were doing the stuff on your own it would make you believe months, and years right yeah, is, one. More thing that we have a lot of impetus part design we're somewhere between 30, 40, live chains, really those, are life those are being used but. If I'd have to tell you like how many chains were created, Komodo, I'd have to say hundreds, to thousands. Of chains you know because. I cannot, track every single chain, I've got created of course not just by the reakless I get that I get it's at least at, least a thousand, chains that particular. Projects, that we would have probably heard of that are running on the Komodo. Environment. I do. You for example know I'm Steinem, coin yes you do yes.
They, Are they are utilizing, depo, technology, they are running on our in our network, they are being secured, by our network and the, block chain, information of, Einstein, coin is being backed up into Komodo in regular intervals okay to them backs them up into Bitcoin just to name one Varys, coin have you heard of Varys coin yeah, Varys. Coin is a pure, Komodo, based token, so not just a, they. Actually forked, the komodo base didn't they yeah. They the Komodo base right, they are and, we merge them back into the Komodo code so we are in, sync both code base are in sync now so, we melt it together again right if you want to put it like that and they are like a full, full. By, definition of full accession, like a pure, Komodo chain right, and those were just like - they're like many many mores change. The first change that is you'd like decentralized. Icos, earlier. That last year and, we have like. Block. Nation, per. Pay pro, pay is one of them so, there are couple each room, that. Are like third-party, projects. Companies, like. Almost. A missed opportunity that. You've got projects, that are on Komodo and Komodos not somehow. Able. To communicate, the. Greatness of the platform, by sharing, all, of the great coins that have joined into this community so. It, leaves you feeling a little empty when you're looking at Komodos website and going through all the online materials, trying to find out how. Significant. Are you and the answer is it's so hard to tell because the documentation, on the white paper and all the materials, are amazing. And, then. You go and try to find out the projects that are on there and you say are. There any. But. I have really to add that all. Our, different. Divisions yeah, we haven't really been focusing, on overhyping. Something, that's, not ready to share we. Kind of felt that it would, be anything, it, wouldn't be ethical at all really. Right our marketing. Team has been preparing, and working on rebrand over, the last full year really. The whole year. Researching. Analyzing user. Experience. Feedbacks. Revisions. A lot. Of empirical. Studies were like you choose interviews. They. Did like our marketing division has built, like a solid base and. Always been like in touch with us while, we build the backend system Whore of Komodo, and we've, been progressing. Really nice I mean our deck system architects is now the third generation it's. The only third, generation, cryptocurrency descent past exchange on this planet there's no other all, the other decks, that you see are all in development. Or still, testing. Or we. Are fine-tuning. The production, version okay just for every map that you have a to ops, is already. Cross-chain, atomic swaps yeah, we. Really really are using. With ERC and the cerium tokens right we were comfortable, but, compatibility. Is given with all other, block chains in in the in the universe and and. This. Is like lyft was also our main motivation have. A solid, system one that we would be happy with presenting, other people but more, importantly one, that makes not just me wake up with a smile on my face every, single day but also our users, right, this, is like really, important and now, now, right now we reached this moment where we feel like yes the tech is solid now we reach this a solid. Level where, it's time to spread, the news to fire. Up marketing, efforts, into. The PR direction, not just prepare, documentation. You, X we've, been like working hard on you it's right for, our apps get, user. Experience, across them that is what we all have, been doing and in the meantime our business, division has. Been working on partnerships. Potential. Partnerships, I mean that takes like calls every, week you guys are probably calling. A lot around you know it's a whole, day just to be a lot of effort together. Yeah. This, is the reason why we haven't, sorry. To say this but why we have just pumped, and over. Hyped our coin for nothing because I would have been unethical into, it we have been like for nothing we, would lie to ourselves but now like we're we can give you our code based and tell you review, it we're, comfortable with the whole situation, fantastic, right great. So, with, that you know you said your marketing team is ready to start kind of launching things up when, can, we maybe. Expect, to see more news, coming about your, projects, you're working on the platform all of that when will that start to trickle out already, it's already happening, for example yesterday there was a Forbes. Featuring. They. Interviewed, me and our CMO. Steve Lee and, they posted, it I can share a link with you I mean ahead was Forbes but the last through, to 2 to 3 weeks they, have been like media, reports, in the, whole universe. Weekly. For, sure weekly. Marketing. Is pushing, like a big update announcement. Out shortly, they're already electric, okay Perry working on it and I can send.
You An expert, mail just, to point, you towards it and give. You heads up when it's when it's ready in itself but it's happy birthday yes. Please yeah. Great. Other, question, so is. There an atomic, swap API or. It's only done by way of like, the your, own individual. No. So, all our software. Applications, and all our tools have. An API it's running, yeah they have back-end, API usually. An RPC interface so. You would have like a predefined. Set of functionalities, you could. Utilize on your own you wouldn't have to use our end-user apps on our front, and application, you could literally, simply, grab our tech just copy it and reuse. It for whatever, software, you want to build it's, a big advantage the only requirement. That we have is that you keep it open source and then you basically. Show the community what you change so teach the community as part of your modifications, yeah. Interesting. Yeah. I like that and. The. Other thing I'm wondering is how do you actually take snapshots, of this. Whole thing and store it on blockchain I mean what do you what, do you how long does it take to do it and what are you using to do that because it must be massive. Okay. Snap Spock always would depend, on the. Size of the chain yeah like how. Many blocks are they around but also how many transactions. Have there been around so. It's, somewhere between like minutes. And days. This, is what it potentially could take to create a blockchain snapshot, we. Have like apps, and tech in place which, covers, this automatically. So you have a script, you launch it and it you will create just. A snapshot of whatever chain you add a parameter, and now it becomes, better. To. Support. Assist. All the chains that want to migrate, over to Komodo, we even created a tool which would take this snapshot that you created yeah, and generate. A. Transection. Script, out of it what does this mean this, strength cents, a transaction script, can be used to. Distribute, the. Tokens, of the new chain to, all keys. Associated. With the private keys of the old chain so, you will just log in it will you. Check in with, your same seed or private, key and your, new tokens, will show up there so, this stack is, being provided by us yeah, very cool wow that's. Very impressive. Wow. So, what's the future plans then for Komodo what's. Coming next that people should be looking at and watching for, okay. So 2018. Was a big year for for, Dex technology, for, our infrastructural. Work but. Also for something that is called cryptic conditions okay CiCi's. And. Just to let you see see, I. Actually. I don't like, mentioning. The word smart contracts, however to explain, it someone non-technical, it's really essential, Sisi, is our version of smart contracts, however instead.
Of Getting just one smart contract, who fulfills a specific, logic, on top of the blockchain you'd. Compare, it to something that imagine. You would get, your own aphelion, platform, hmm, this is what CC does it. Allows you to modify, the consent, own rules of your chain it, basically gives you a smart, chain right it's not just a smart contract and this. Is like this tech is very very mighty and xvc jail, triple7, our border. Is developing. Rock the game from the 80s. So. It's gonna be like the first real, interactive. Blockchain. Game that's running, on chain, right. I'll share the link with you it's already implemented, it's github, it's on github it's online what, we're testing it so. We'll. Share that with our live with our listeners and subscribers, here on YouTube and I really yeah you can come and check it out and for. Those who want to try out a game on the blockchain coming, from Komodos platform, then. We'll, have it here for people to give it a go yes. And it gets, even better the. Character. From for the gameplay right. It's, actually, a collectible, because it's a non-functional token, with. Unique, attributes. A property, even items so like a RC 7 to 1 token effectively, right, that, better. In. Year, c 7 to 171, jokin, and. TRC. 7 to 1 3 3 3 token. That's. It seven. Seven seven children right. Cool, this has been really really useful I mean it's of, course it's always a shame that we don't have more time for all these types of episodes but just. Everything we've covered or, has been amazing. Thank you want. To slip, into conversation, before we, before. We end it just one thing this year is our mobile, year so as we see the mobile access to online platforms, in this year surpassed. A new record we are above 50% somewhere. Between 55, to 60 percent depending. On which then s providers, to provide this info so, we, clearly see, a laptop, like we all three. Use will. Be something rare in the future in five to ten years devs, geeks, IT people, will use it the rest is moving to mobile devices, without, long, boot times smartphones. Tablets etc this. Is what we are also focusing, on we're, bringing comodo platform, on all these features in technologies, to mobile to your smartphone and to, your tablet, fantastic. I think, you want to actually get into doing mining, of, KMD, what, do they need to do to get into doing that it's. Possible, like we're. Based on Ecuador the, Z. Cache algorithm, so, you can, either, get, in touch with our community, we have a mining community we have a couple of mining pools and you just start mining there or in. June, then. This, year's. Elections. For the notary nodes are taking place so. You can also if you feel your techy and you understand, the technology, just, get into this code rather. Today. Than tomorrow and, tell. Us what you know because that will rise, the chances of becoming a not really node operator. Which gives you a very low difficulty, for mining so, your mind your, predefined. Amount of tokens for sure every day Wow. How, interesting, well. Share the links with us we'll, put the episode. And we'll, make sure they've got, access to this so they can get involved in whatever way they want and. Akkadian. Thank you so much for taking the time to thank you so much makes. It exciting, yeah it's really a, pleasure. But, those people who haven't taken a look at Komodo, the. Website, is Komodo. Become. Promoter platform comm they've, got some fantastic information believe, it or not for a crypto, project, it's. Actually, written in English. Really, easy to read it's there's, some great content, down there so for people who want to just dig in and understand, you know what's what's the big deal about other, platforms, that crypto Yuri and I have talked about you, know outside of aetherium, oreos, you. Know komodo is a great example of this it's a real platform it's, got other things going on it's. Got privacy as well which a lot of people are really big on so lots, of really cool things well. Obviously not sponsoring, or suggesting, this project over any other cuz we don't give any investment, advice no I would don't know we both look what we've read and it's exciting so. Kate thank you so much for taking the time into all our listeners thanks for listening and our viewers, thank the viewing don't forget to give us a like and subscribe on the way out to, the moon.