Komodo (KMD) Price Up 20% as Blockchain Gaming Progress Builds

Komodo (KMD) gained 20% on its value leading into Tuesday morning, hot on the heels of a sudden increase to marketing efforts, and the successful testing of multiplayer gaming modes on its blockchain.

Komodo Price – KMD/USD

The KMD coin price soared throughout the early hours of Tuesday morning, and the bulk of the 20% growth appeared in little over twelve hours. That took the dollar value from $0.675414 up to $0.813385, with the peak landing at around 14:00 UTC.

Trade volume rose 318% in that time period, from $1.1 million to $4.6 million; the KMD/BTC pair accounted for over 80% of the daily changeover, with Binance housing the most liquidity.

Komodo is now up 38% over the last seven days, despite sizeable drops in between. Today’s trade volume is the highest since October of last year, and the return of trade volume to KMD seems to coincide with a sudden increase in its online presence.

Komodo History

Komodo started in 2016 with the idea of liberating asset holders from the confines of any one blockchain. As stated in creator James Lee’s ‘Declaration of Independence’:

We the asset holders hereby declare our independence from any single blockchain.

An open and jointly developed specification on cross-chain atomic asset transfers will be developed. Any current or future blockchain is invited to join.”

Just under three years later and there are clear signs of progress. Atomic swaps have become a regular occurrence on the Komodo DEX, and the focus on blockchain interoperability has been such that the development team now claim compatibility with 95% of the world’s existing blockchains.

Check out Why Investors Should Pay Attention to Komodo for a rundown of the project’s main features. As early as mid-2018 the Komodo project brought admiring glances from the likes of Binance’s CZ, who remarked upon the possible future demand for customizable, interoperable blockchains like Komodo’s.

Blockchain Gaming

The 20% surge in the past twelve hours may have been helped by yesterday’s interview by Komodo’s pseudonymous CTO Oxca333, titled ‘Is Komodo on the Tipping Point of Mass Adoption?’. On the same day, one of the larger cryptocurrency news sites dropped Komodo’s name in article focusing on blockchain innovation.

Meanwhile, Tuesday’s tech update details the progress being made in bringing gaming to the blockchain. The team recently loaded a Rogue-like game onto the blockchain, and appear to have devised a way to verify player data automatically, rather than manually:

“…the keystrokes of the users game play will be used to validate the player data created. In fact, the user doesn’t even submit any claims for gold or player data, just the keystrokes and the blockchain replay the game to calculate the end result. Takes a few milliseconds per game.”

The team also state the potentiality for other games to be parked on the blockchain, adding:

“Any game that is deterministically random can be done – e.g. like single player Starcraft.”

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.