Avalanche Token vs Komodo vs ChainLink
What problem does this service solve?
Avalanche's goal is to enable a more secure and interoperable smart contract platform with faster transactions times. | Komodo is a blockchain building platform. They assist clients in creating their own blockhains and decentralized applications. | ChainLink wants to solve the connectivity problem facing smart decentralized applications. By connecting smart contracts to external data resources, many potential use cases for blockchain can be opened up. |
Token Stats
Company Description
The Avalanche token (AVAX) performs various tasks within Avalanche's Proof of Stake blockchain network. The Avalanche token functions as a rewards and payment system for users. The network is designed to be an open-source platform for launching highly decentralized applications, enterprise deployments, and decentralized financial instruments. The Avalanche ecosystem is meant to be smore scalable and interoperable than other blockchain platforms. Unlike Bitcoin and many other networks, transaction fees are “burnt” in order to increase token scarcity. This process is offset by the release, or “minting,” of new coins. | Komodo is a blockchain building platform that is focused on developing anonymity and security focused solutions. Komodo's platform, which was originally a fork of ZCash, is powered by the KMD token, and enables users to send anonymous transactions. Komodo has a delayed Proof of Work consensus algorithm. | ChainLink is developing the LINK Network, which will enable connected smart contracts. LINK will provide smart contracts with a variety of external data and access to APIs. ChainLink's goal is to solve the connectivity problem that plagues smart contract based systems, and discourages mass adoption. Many decentralized applications are unable to connect with important external data sources due to limitations involving their consensus protocols. The LINK network wants to connect their smart contracts with external systems and APIs by using secure middleware. |