Building a Wallet on Komodo Blockchain
Komodo is a platform that allows businesses and developers to build customizable, scalable, and highly secure blockchains for their needs. Think of it as decentralized applications built not on the platform’s mainnet but on their dedicated chains. Such a solution allows Komodo to overcome the limitations of such platforms as Ethereum or Tezos.
If you want to provide your users an opportunity to leverage the Komodo blockchain infrastructure, building a Komodo wallet is a solution. For doing so, the first thing you’ll need is robust access to a Komodo node: a source of data on the transactions status, wallet balances, and much more. NOWNodes is ready to provide you with such a node with a reliable connection and super-short response time: only get a node API key for free, and you’re good to go! Continue reading to learn how to connect to a Komodo node on favorable terms.
What is Komodo (KMD)?
Komodo is a platform for building dApps that addresses the shortcomings of the major public chains (Ethereum, Tezos, Cardano). Among these issues, there are scalability (using one blockchain for all dApps), smart contracts’ vulnerabilities, and unpredictable high fees.
In Komodo, every dApp can build its own independent Smart Chain — a separate blockchain with smart contract features. Each of such networks may be secured using the Litecoin mainnet, while Komodo’s Delayed Proof of Work consensus enables Notary nodes that review blocks thus bringing more security to the blockchain.
How Komodo’s dPoW works. Note: the coin has recently switched from Bitcoin to Litecoin.
Komodo enables private and anonymous transactions in its dApps by implementing privacy solutions used by ZCash. The platform has AtomicDEX where you can trade KMD-based assets and make atomic swaps with other blockchains. On Komodo, you can launch your own whitelabel wallet, decentralized exchange, and more.
What is a KDM node?
As a blockchain that leverages a variation of the Proof of Work consensus, the Komodo network consists of nodes that validate transactions and add them to the blockchain. To do this job, a Komodo full node disposes of the most up-to-date copy of the Komodo blockchain, which makes it the best source of information regarding all the transactions that have ever been made in the network.
How to build a wallet on the Komodo blockchain?
The first step in building a wallet on a blockchain is getting stable access to that blockchain’s node. When a user sends or receives transactions, the wallet syncs with the blockchain through the node to get the relevant information on the status of the user’s funds. If this synchronization is robust, the wallet will update the user fast, and sending a transaction will be seamless at any time.
To access the blockchain, you can launch your own node. It may be quite costly, but you will be in full control over it. However, it’s also necessary to maintain the node, and this requires some tech skills — here is when you might want a specialist to help you. If your node goes down even for several minutes, your wallet won’t sync with the blockchain, and the users will get disappointed for not being able to send or receive a transaction.
NOWNodes allows you to avoid all the difficulties of setting up, configuring, and maintaining the KMD explorer node. We do this job for you so your wallet could request the node for transaction status and get responses at any time.
What requests to the Komodo node can I make?
Your KMD wallet will make many requests to the Komodo block explorer to keep the users updated on the status of their money. This includes getting the balance of addresses, getting the transaction data, block numbers, etc. In our Docs, you can find the full list of such requests specifically for Komodo. To run requests with NOWNodes, you’ll need an API key. Now, let us tell you how you can get it.
How do I get a NOWNodes API Key?
First, you need to get your crypto API key. Head on to our landing page and click the yellow “GET FREE API KEY” button. Fill in the short form and find the key in your email in just a few seconds. You can also simply contact us to get an API key.
When you have the key, find a list of sample requests to the node here. Paste the key in place of the “your_API_key” part. Now, your wallet is ready to make requests to the node.
20,000 requests are available for you a day for free. If you see that your wallet requires more, see our pricing plans and choose one that fits your needs best.
NOWNodes monitors the state of the Komodo node 24/7 so that you always have a robust connection. Our API response time is less than 1 second, and its uptime is 99.95%. If you ever decide to build an application on any other blockchain than Komodo, you can leverage NOWNodes to reach 40+ other networks’ nodes: save your time and energy that you’d otherwise spend on looking for another service that would support the coin you need.
Building a Komodo wallet is not an easy task, but if you have stable access to a KMD node, consider it’s half the battle. NOWNodes provides you with fast and predictable access to a Komodo node that will make your users enjoy a robust Komodo wallet. Contact us, and we will be extremely glad to help you start!