Interoperability across various blockchain networks has arisen as a key subject in the digital currency industry in the course of the last year, however many enormous assaults, for example, the $321 million Wormhole break, have featured the trouble in getting protected cross-chain moves.
Komodo, an open, composable multichain stage that is home to the AtomicDEX wallet and non-custodial decentralized trade, has acquired prominence in February because of its clever way to deal with guaranteed cross-chain interoperability.
As indicated by Cointelegraph Markets Pro and TradingView information, the cost of the stage’s KMD token expanded 54% to a day-by-day high of $0.687 on Feb. 22 in the wake of hitting a low of $0.446 on Feb. 20. The new consideration of help for 13 other blockchain networks with AtomicDEX, new nonfungible token (NFT) dispatches, and the protected idea of atomic trades on AtomicDEX are three clarifications at the flood in KMD’s cost and exchanging volume.
Integration of Multiple Blockchains
The incorporation of similarity for 13 unique blockchain networks on AtomicDEX has been the main advancement for the Komodo convention in 2022 to help work on its symbolic cost.
AtomicDEX is one of a handful of the decentralized trades that as of now upholds Ethereum Virtual Machine-viable organizations, yet in addition, networks that share a source code with Bitcoin (BTC), including Bitcoin Cash (BCH), Litecoin (LTC), and Dogecoin (DOGE). In light of comments from various gatherings, a portion of the extra chains that can possibly be converged with AtomicDEX in what’s to come is Digibyte, Cosmos, and Polkadot.
NFT Launch on Komodo
The acquaintance of NFTs with the environment with the unavoidable send-off of Cyber Komodos is a second reason for the flood in action for Komodo.
NFTs stay one of the most fervently discussed subjects in the digital currency space, and they are likewise one of the best strategies for an organization to enroll new individuals and drive association with their networks. Digital Komodos is an assortment of 777 distinct Komodos with contrasting rarities that will be accessible on the Tokel NFT stage on March 15.
Cross-Chain Swaps
A third component driving interest in Komodo is AtomicDEX’s cross-chain trading capacities, which capacities on an individual-to-individual premise and doesn’t need custodial administrations.
AtomicDEX executes exchanges by means of atomic swaps, which abatement hazard vectors and don’t need caretakers or muddled smart contracts, which are more inclined to botches. This, along with AtomicDEX’s tremendous scope of upheld networks, has drawn in more consideration regarding Komodo as security has been a significant issue for crypto brokers.
