Komodo is an open smart-chain platform, build on a multi-chain infrastructure. Originally created in 2014 as a fork of Zcash, it has pivoted towards being a multi-chain network.
At its core, Komodo relies on a consensus mechanism called Delayed Proof-of-Work (DPoW). At every new block on the Bitcoin network, the Komodo blockchain is backed up on the Bitcoin blockchain. This process is organized with 64 notary nodes and secured by the hash-power of the largest PoW blockchain.
Komodo also relies on multi-chain syncing: a large number of blockchains perform calculation in an asynchronous fashion, while these sub-chain are synced on the Komodo (main) chain.
Other innovations include atomic swaps (Komodo DEX), interoperability features, which allow subchains and other blockchains (like Ethereum) to interact, and the Antara Framework (offering tools to create custom blockchains e.g., PoS/PoW).
KMD is at the center of the Komodo ecosystem: it is used to perform on-chain operations (e.g., transfer of tokens) and as a reward for notary nodes, part of the DPoW consensus algorithm.