Kadan Stadelmann discusses AtomicDEX updates at Komodo

0:01i'm ashton addison from block west capital for investment pitch media in the Crypto Coin Show and today on blockchain interviews we have caden stadleman the cto of komodo back on the show once again welcome back hayden it's a pleasure to have you here hi ash hey thanks for having me you're very welcome let's dive straight into komodo your team has been working

0:22on so much since we last spoke feels like years now which is like decades in cryptocurrency and i've seen that there's a lot of updates from the protocol one of the things i want to focus on is the atomic decks and some of those updates but before we get to that i'd love for you to just give a little bit of background information on komodo what makes it such a unique protocol and

0:44why you're so passionate about working on it so thanks yeah i mean comodo is a blockchain open source technology provider we do provide like a variety of different open source technologies mainly targeting blockchain interoperability and blockchain into support so our technology supports like the majority of the existing like blockchain protocols and i mean since we last met i mean our

1:11focus really remained the same right we pretty much like kept working on atomic decks we've i had one huge iteration and the technology is out now in regards like to end user products we do have like a mobile as well as a desktop application out and i'll also like tell you a bit about our next like bigger iteration where we're basically shifting the entire

1:34technology towards like the web 3.0 support so we're already natively supporting the web environment and yeah so here we are again and yeah really glad to be here on the show great thank you for that background information and yeah last time you were here we were speaking about the atomic decks still working on it years later generations later i

1:56think last time we spoke it was in the beta i'd love for you to just give an overview for those people who you know they trade maybe they hold bitcoin maybe they trade on a centralized exchange maybe they've used a dex but they probably haven't used the atomic decks let me talk about what makes the atomic decks so special at the start so just speaking in general i mean the

2:17atomic dex is a third generation cross-atomic chain and cross-atomic protocol decentralized exchange it means it provides like a open source and permissionless peer-to-peer network and technology layer for trustless cryptocurrency exchange okay so i mean right now we're speaking about cryptocurrencies or tokens and types that i could for example exchange with

2:42you or any other like third party without any intermediary in between okay so that's i think like the main point about the atomic decks and this technology and its core functionality but i mean this is going like a step further now right so we're reaching like an era where this technology will also support the exchange of data right look at nfts just

3:03like for one example right and i mean lit technically really you could like exchange anything even like knowledge with this type of technology and again yeah it's it is now like a third generation technology and by shifting like purely to the web environment we make sure that we basically provide the technology to any operating system any platform right as much as it's like

3:30permissionless from just like an access perspective we thought it should also like be you know permissionless and you know widely interoperable with all the available platforms and operating systems and user definitely and right now i saw it's in the testing platform does that mean that anybody can go and start using it and testing it or is there is

3:55it just in the beta of testing and are there rewards for that or how does that work i mean while it's an ongoing beta phase is still it's been like attacked stable better so the application's been around like for quite some while we had a closed beta and we've now like shifted to a totally open beta so anyone could join like this program i mean technically it is like production ready

4:18we haven't had like you know additional like third-party validations ongoing but these are like steps that are like taking place right now as we speak and yes just like to answer the question like anyone can like feel free to download the application to use it as a wallet but as well as like as a deck escape way that's great and from what i understand

4:40with the atomic decks one of the main advantages is having the multi-chain you know as opposed to uniswap just moving in erc20 tokens back and forth you're able to move to different blockchains now is that is that true are they all set up to all of the blockchains or are there limitations and you know what's the main functionality within moving bitcoin to ethereum to maybe some

5:05smaller blockchains i think this is like different benefits one of them is of course giving like traders and users the ability to move native cro chains native coins interoperability wise like across different protocols and chains right but furthermore it basically provides also like a bridging solution you know we have like different cards different

5:27tokens with their representation on different like protocols so you could have like bitcoin and the representation of bitcoin or ethereum on cosmos on the finance blockchain etc and this is what we try we try to basically provide one global you know interoperable breaching solution between all of the major like protocols as of today the major blockchain protocols are all supported

5:51right speaking about erc so basically ethereum blockchain speaking about like bsc the buying and smartchain platform right and many others we've just like having a temp protocol integration rolling out just like shortly as we speak and that one will like extend to addition like blockchain protocols just solana just like to name one of them that we've like extended the

6:13interoperability to very cool and yeah there's so many i think this is really going to help with the blockchains that have been around for a long time you know even before dex has existed and you know they have their own blockchain so like they need to have that extra interoperability to go with each wallet and doesn't necessarily have instant compatibility with ethereum

6:37wallets so having atomic dex to move to those blockchains easily is obviously going to help i saw in the testing program that komodo was partnering with digibyte i'm curious if you can spread some some insight into digibyte how that fits into the testing program and why you've partnered with them okay so first of all i mean you know komodo and also like the atomic dexcore

7:01vision has been around for quite some while i mean this dates back to around like 2013 2014 during the nxt times the early blockchain days right it was like just shortly before this like first ico bubble occur and digi byte was also we call it like kind of like an og coin right the cryptocurrency that's been around for quite some while going back like 2013 14 when they had like kind of

7:27like the community action going and we still have like kind of like connection still like community-wise some interaction going on so our marketing team as well as like our tech team decided okay let's reach out to them let's involve third-party communities as part of an ongoing or actually like almost completing beta stage and that's what we did you reached out to them we

7:51hit them up ask them if they'd be interested to run this usability campaign with us it's basically an open testing session right and we invited third party communities to support us to give a shout out to you to their community members and inform them that look there's a decentralized cross-chain across protocol decks with a multi-coin wallet integrated right

8:13there's a set of additional features coming just a few to name a few lightning network support hardware wallet support right this aforementioned web environment support and digibyte is natively supported already on the mobile as well as the desktop application so it does have a native core support by the dax and that's why it was like an optimal candidate but i'm sure this

8:37is gonna like extend to many other communities to many other blockchain projects and communities just like to get you know our vision wasn't just like let's connect like the tech let's connect the different protocols it's all so about the communities and i've said this i think during our last call the core vision is breaching also the communities and using

8:57the technology right as an underlying like bridge builder if you want to put it like that yeah i really like that caden definitely communities first it seems the projects that focus on that are really successful in the end and that sort of leads me to the question about you know having open communities with the some of the ethereum dexes you know like

9:20uniswap it's hard for everyone to join in the community because the transaction fees are quite high for people that are just trying to enter into the space and they don't have a lot of capital can you give any insight into atomic decks and if there are high fees or extra fees to swap between blockchains and if that prohibits or allows people that are just joining into the

9:43community to easily start using it okay so this is indeed like a very good question and an existing and realistic like problem something was facing like every day this exorbitantly high feast i mean with many crosstrain atomic swaps the case is that in the reality is that you would rely on the native like protocol that you're using for this one so if i exchange

10:10native erc token with you for let's say like litecoin or bitcoin whatsoever i have to pay probably a very high fee if we're talking about like erc or ethereum at least recently that was the case right it might have like become a bit better so we know there's still like these representations on different like protocols right you have like for pretty much like all ercs as well as all native

10:31cryptocurrencies you'll find the representation on the vinyls marching platform but many other third-party platforms right so you could still use such a wrapped asset for a cross-chain atomic swap and could actually like trade professionally you know multiple times a minute second if you want it and you wouldn't end up paying as much as you pay for the native transaction fee right but

10:57then on the other hand you're also like implementing you know additional like enhancements such as the lightning network support and other layer two solutions that are also you know like designed as a solution like to these scalability problems and this like exorbitantly high transaction fees which we also think are a high problem they are definitely like a blocker for the

11:19average user and everyday users specifically definitely great points there and there's so much to work on you know you're talking about all these updates different protocols you're going to integrate into what do you think will be the key to bringing atomic decks closer to mainstream adoption is it more usability you know bringing on a certain network

11:44you know how do you get more people to start using atomic decks as you continue to grow it out and it gets into a more fuller platform what is that key i think it's like a balance of the things you just mentioned yes we do work on various like usability enhancements but then there's also security enhancements that we're working on and i believe they're like a few key and core

12:09features that are like missing at least for me and for us as as a project as a technology provider to consider it ready like for this mainstream adoption right i mean one of them is definitely like the hardware wallet support right like ultimate you know security so even if your device was infiltrated you couldn't face any damage so that's like one big point i think the day we have

12:34this implemented and that's something we're actively working on right now right so we are well passed by you know the prototyping proof of concept level i mean we're actively developing and integrating this feature and but then we have do have also like a few you know protocol enhancements just like hardening and you know making it like more robust there are a few

12:57items that we have on our like roadmap for the coming like quarters i think like quarter two we do have like majority of the plant enhancements rollout and that's also the time frame where we actually like going to seek external secure code you know reviewing an audit of the entire atomic decks so people wouldn't have just like to not trust us and each other in

13:21regards to the technology and it's like trustless and decent life nature but they would have to also not trust us for you know the our explanations and our presentation of the atomic dex protocol so i think this year like 2022 is like a huge year for us because we're finally you know like removing like the beta and the testing text from the software and rolling it out in a way

13:46that would enable any third party to use this with many millions with billions right of cryptocurrencies like cryptocurrencies and data and yes i think these these are like the few you know like outstanding like points we're gonna put like a check mark on and from then on it's it's it's really just like rolling it out reaching that stage also means that third parties such as

14:09other wallet providers software service provider services you know like that run in the cloud are able to integrate and implement the atomic decks within their solutions we have like a fully featured trustless permissionless api so you could if you have a wallet you could like or want to offer your users of course the trading capabilities you could use the atomic index for that

14:32trustless you could even like add the margin on top so that you could actually like generate the monetization revenue out of it very cool yeah i think those partnerships and having existing communities you know tag on through apis to the technology i think makes for more expansive growth so i'm definitely gonna watch for that as it continues to grow out and thank you so

14:56much as well for mentioning the hardware wallets i think that's super important especially for decentralized exchanges and many people using metamask without any hardware wallets and you know clicking the wrong button and all of a sudden their funds are are compromised in some way so i think that's super important i agree absolutely absolutely i mean we

15:18haven't mentioned it during this call but this like the custody that users give to centralized exchanges is like a huge risk i think many users aren't aware of this like counterparty risk and what could happen with their funds right i mean there's this like a famous or infamous quote like not your key not your coins and that's something we all have like to keep in mind and that's

15:39like what we're targeting with the atomic texts to really provide a piece of totally trustless non-custodial wallet very exciting caden and for all of those updates that you mentioned for the viewers to follow along and to go right now to the testing of the atomic decks and potentially earn coins as well i saw there were some rewards to be given out what is the best way for people to

16:04learn more about the atomic decks and about comodo yeah hit us out on twitter right give us a follow we are commodore platform on twitter i think that's the best place to really like get an ongoing stream of informations community updates technological updates and from there you'll also easily find the way towards like our discord server our community

16:25is like super active on discord so we use that instant messaging protocol and platform for the community communication i'm 333 0x03 on twitter as well so feel free to hit us up you know give us a shout out and yeah we'll be glad to discuss further and welcome in our community great thank you kaden i will leave all those links in the description box below

16:47as well all the best with the atomic decks and everything on comodo moving forward and let's follow up again in the near future awesome thank you so much ashton thanks for having us thanks take care you