Blockchain Interoperability, New Technology, and Lofty Goals: Interview with Komodo CTO Kadan Stadelmann at Cosmoverse 2022

Blockchain Interoperability, New Technology, and Lofty Goals: Interview with Komodo CTO Kadan Stadelmann at Cosmoverse 2022

The Cosmoverse 2022 initiative in Colombia last month hosted thought leaders in the still nascent blockchain interoperability industry. Among those speakers was industry veteran Kadan Stadelmann, who helped build Komodo, a technology aimed at facilitating a multi-chain future for blockchain networks.

Blockchain users cannot trade bitcoin for dogecoin out of the box, as these cryptocurrencies live on distinct blockchains. Cross-chain bridges exist to move assets between chains, but these protocols lack the security necessary for mainstream adoption. Komodo offers a different solution, described below.

First, Benzinga asked Stadelmann about the Cosmos software development suite, where Cosmos’ flagship exchange AtomicDEX is now integrated with Komodo.

BZ: What kinds of customizations does the Cosmos SDK offer that other blockchains can’t?

“I generally believe that the Cosmos SDK provides a basis for building independent blockchains with such a degree of customization opportunity, without having to reinvent the wheel or dig into the smart contract’s coding suite. This is a huge difference that other blockchains don’t have. On Ethereum, you can set up custom tokens. , but with the Cosmos ecosystem you have a maximum degree of personalization opportunities across the network. For example, transaction fees for apps built on Cosmos can be paid in app token, while all transactions on Ethereum are done with Ether.” – Stadelmann

BZ: Do you have any lofty goals for Atomic exchanges other than DeFi?

“I think one of the big sectors is data exchange. At the end of the day, when we exchange currencies, we exchange data. It could be an open market for knowledge transfer, like scientific reports that we exchange. Anything that has value and digital representation can be swapped on AtomicDEX in the future.” – Stadelmann

BZ: What parts of the user experience are simplified by integrating a wallet and decentralized exchange (DEX) into a single app?

“Technically speaking, they are still two different things because they use two different APIs, but they live within one product. If you look at a crypto wallet and a DEX on their own, what do people ultimately do with them? They need to send money from the wallet to dex file, and then back to the wallet, using two different wallets from different providers. We figured it makes sense to be served from one app. In fact, we figured out that the user interfaces complement each other. This is one of the main factors that made us realize that it was time to standardize these products.” – Stadelmann

Multiple wallets are sometimes necessary when using different block chains – it is not easy to trade cryptocurrencies between chains. Since AtomicDEX is multi-chain, it makes sense to create a one-stop shop for users to handle cross-chain.

BZ: Is this the product of being a cross-chain?

“Yes of course. It’s great to mention that we have many applications, because then this problem multiplies. It’s a complex matrix that you find yourself in. Here AtomicDEX is trying not only to simplify user interfaces, but also authentication layers to reach a larger scale. Our team is currently doing By implementing Kepler and Metamask authentication capabilities. The end user should be able to use the technology without having to go down a predetermined path. Instead, they can use whatever they are comfortable with.” – Stadelmann

BZ: What are the benefits of AtomicDEX over using a cross-chain bridge?

The main advantage here is that it is not 100% reliable in that there is no escort process from us or the AtomicDEX network. Each user who provides liquidity to the exchanges becomes an infrastructure provider at the same time. I think one of the big differences here that highlights the main factor of mistrust is that we don’t regulate control mechanisms, liquidity or buy orders. This is not always the case for other multi-chain AMM (automated market maker) setups. There were critical issues that ended up for the end user on some of these networks.

BZ: Liquidity providers are infrastructure providers?

“Each user using AtomicDEX also represents one instance in the network. It is like a node that can forward data packets to other peers, which can help other peers find new peers. The end user is not just someone who trades. It is someone who is scaling a network. DEX. This is the main difference between AtomicDEX and smart AMMs. It is a big difference in terms of technology, but we are trying to solve similar problems.” – Stadelmann

BZ: A lot has changed since Komodo launched its token. How have you adapted to new technologies such as Alternate Layer 1s and NFTs?

“Back today, 7-8 years ago, we were the first to mention a multi-chain vision of smartchain platforms. That’s how we’ve described Komodo for some time. There is only one technology group that we have focused on since the inception of Komodo: the exchange layer. Sometimes, other technologies emerge that were phrase It’s a hype and we start some research, but it costs us a lot of resources. What we focused on is NFT support with AtomicDEX. Cross-chain NFT swaps are not yet operational, but they are under development. It’s a technology similar to what AtomicDEX has now, but with different transaction types. Through Focusing on our DEX, it has enabled us to have the largest support for second and third generation blockchain protocols.” – Stadelman

With over ten years of experience in blockchain technology, Stadelmann is a visionary who has built what may be the future of finance and beyond. With the industry still in its infancy, there is still debate over whether the future is multi-chain or if it is multi-layered in the case of Ethereum. However, if the future is multi-chain, Komodo and AtomicDEX have established themselves at the forefront of the revolution.

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