SuperNET Tuesday Update 28/03/2017
l rely on for the years to come. There are still a lot undecided, but the Komodo brand is coming into focus.”
The name PAX is an acronym for “Pegged Asset Exchange”. Although this doesn’t seem overly complicated to our community, entrant users will have no idea what “PAX” stands for.
Although PAX could be used as a name in of itself without the need to reveal the true meaning behind the acronym, we believe our products’ name should hint at what the products are, since we’re dealing with new and complicated technology. Even if we were to spell out what PAX means, the concept of “Pegged Assets” isn’t highly popular, so the problem remains.
We feel Komodo Currencies is a perfect name. Although it may seem blend at first, it brings up the Komodo brand and it assures that users know exactly what they`re dealing with when seeing the name for the first time.
In case you are not familiar with the technology, what are Komodo Currencies?
It is simple: you can convert your KMD value into any of the 32 local currencies we support. The process is, of course, decentralized and it happens automatically & instantly. Because of this, the peg will always hold.
These 32 Komodo Currencies each have a blockchain, and they are as secure as Bitcoin and as private as Zcash - just like Komodo, so you get to enjoy the benefits of cryptocurrency without any volatility risk (perfect for entrant users!).
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