A host of factors determines the success of any startup. And when analyzing the extensive list of items blockchain projects require in order to flourish, technology always bubbles towards the top.
But far too many of today’s blockchain ventures are perpetually frozen within the confines of a whitepaper. New ideas are often promising, and some are even achievable. But for one or more reasons, products fail to ship.
And more often than not, a lack of technology is what slams the brakes on a project’s forward momentum. Teams may have big plans to shake up the world using DLT, but with inadequate tech, they just spin their wheels.
Now, we’re very fortunate to have the luxury of avoiding that problem here at RedFOX Labs. That’s not to say we haven’t encountered our share of obstacles. Because, as every startup does, we most certainly have.
However, although our IEO concluded less than two months ago, we’re already operating one of blockchain’s most secure and technologically advanced networks!
How’s that, you ask? The answer is simple. We’re employing proven tech from a five-year-old blockchain network: Komodo Platform.
And our collaborative partnership opens up a wealth of opportunities for us to do what we do best — accelerate blockchain adoption.
Blockchain Building Blocks
Komodo’s smart-contract ecosystem delivers end-to-end blockchain solutions to businesses and developers alike.
The platform’s open-source, interoperable network is modular. Komodo’s Blockchain as a Service allows companies to build their own blockchain — completely alleviating the threat of network congestion.
Organizations also have the option of outsourcing blockchain creation to one of Komodo’s certified service providers.
Now, we encourage you to have a look at the RedFOX Labs Blackpaper to dive deeper into each of the topics below. But here, we’ll highlight overviews of what KMD brings to the table to help us succeed.
Backed by Bitcoin’s Hashrate
Bitcoin is the most secure cryptocurrency in existence. And by taking full advantage of KMD’s innovative dPow security service, the RFOX chain is just as strong.
To pirate 51% of our network’s computational power, bad actors would need to simultaneously conquer bitcoin, Komodo — and a host of other chains — all within 10 minutes. Not going to happen!
Infinite Scalability via Multi-Chain Syncing
Over 1,000 blockchains operate within KMD’s test environment. Although each chain is independent, they all communicate with one another and process transactions simultaneously.
Komodo’s blockchain interoperability currently reaches 45k transactions per second. Yes, KMD surpassed VISA’s TPS more than a year ago.
As RedFOX Labs identifies and builds unicorn ventures, there’s no worry of being able to scale them fast enough.
As Southeast Asia’s first blockchain venture builder, we certainly have our work cut out for us.
And by utilizing what Komodo Platform has already tested and refined, we can soften our focus on technology and concentrate on building successful startups.
Now, we know what the Komodo faithful are thinking — there’s a piece of blockchain adoption-driving tech that’s noticeably missing. And yes, you’re right.
But we think you’ll agree that describing the power to walk around with a Decentralized Exchange in your pocket warrants its very own article.
Come back this Friday when we’ll discuss one of KMD’s most exciting blockchain breakthroughs — atomic swaps. We’ll also cover their role with non-fungible tokens.
See you then!