I am aaking this again as nobody replied. Maybe jl777 could think about it.
I have read in previous posts that KOMODO will use the same parameters from the trusted setup like Zcash. Wouldn't it be better to generate our own trusted setup? KOMODO will be a very well funded project and could gather some highly trusted people in a controlled environment to perform the trusted setup. This way it can differentiate itself from Zcash and also build credibility.
But could we ever manage to make the process more trustworthy? They had prepared for it a long time and used very experienced guys to do it. If we would do the same it would definitely delay our launch. Would it be worth it? |
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An interesting conversation happened today in the #notarynode channel
  Currently the KMD exchange rate is set to 0.0001 BTC, which means it did cost ~0.1 KMD to get ~0.01 USD.  PaxEUR is not a real EUR, but a crypto that matches EUR's value There needs to be a conversion from pax ->KMD -> BTC -> fiat - pax -> KMD is via paxwithdraw - KMD -> BTC via DEX - BTC -> fiat would be via localbitcoins  More detailed explanation1. Paxdeposit converts KMD into the specified fiat coins in the fiat assetchain (paxprice shows the current conversion price) 2. The KMD disappears from the komodo chain and reappears as the fiat coins 3. Once the coin is in the fiat chain, it is usable as any altcoin, it just happens to have value of the fiat 4. On paxwithdraw (done on fiat chain), it disappears from the fiat chain and reappears as KMD on the komodo chain The process is somewhat similar to sidechains, except that instead of 1:1 value it uses the fiat value. QuestionOk, so if a lot of people want paxUSD then the KMD supply will decrease? The more usage, the smaller supply. Can the market run out of KMD if paxUSD becomes really big?
or will the price of KMD just keep rising as there's more demand and less supply? Yes, but impossible to know for sure how the market will value things. If people assign X marketcap to 100% of KMD supply and the KMD supply is reduced 50%, the price per KMD should double. However, will the 50% that is in pax form be attributed to any of the KMD marketcap? At the microeconomic level, lower supply and greater demand means higher prices QuestionThere's one thing however I still try to wrap my head around: is it possible there would be a scenario where there would not be enough locked KMD in PAX. - let's say I deposit 1000 KMD ($100) to PAX and get $100 to myself -> later I redeem it back, but the KMD price has doubled, so I get only 500 KMD ($100). Thus 500 KMD is still locked in PAX? - It could happen the other way around: I deposit 1000 KMD ($100) to PAX and get $100 to myself -> later I redeem it back, but the KMD price has fallen, so I get 2000 KMD ($100). Is there a risk that the locked PAX "account" would run out of KMD? Or will the balance be ensured through some interest payment scheme like described in the origianl PAX materials? http://bitcoindark.com/pax-faq.html#q1To prevent the overall coin supply from rising above its pre-set limit, users are incentivised to take the opposing trade through variable interest rates. Initially there will be max exposure limits, so except in a case where KMD price would go to zero (and nothing would work in such case), there will be enough. The opposite situation where KMD price would rise is no problem, it would just build capital, i.e. profits. Also the new version "PAX2" will have the dynamic balancing enabled which will allow people to create interest paying savings account and also to be able to short any of the pax fiats. As long as there is active creation of positions biased via incentives, things move closer to balance so that price moves are compensated for. Check out Komodo USD Explorer http://148.251.56.52/
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Regarding the discussion about SuperNET ICO... if you look at what has been achieved today, it should be clear that SuperNET is a success.
SuperNET was a startup, and like any startup it did have risks. Many startups run out of funds, hit the wall, not able to deliver, and then slowly fade away until they are forgotten. After 2 years SuperNET is still here and not going anywhere.
How did the team manage the funds? Very strict budget use, which allowed the project to survive many crisis, adapt, and adjust its goals and roadmap.
Were investor's interest protected? Yes: conservative expenditures and projects did not get abandoned. Best example: BTCD.
What has SN delivered? The Iguana codebase, which jl777 developed for 2 years. Now everything is possible: atomic swaps, pegged assets, assetchains, smartchains, dPoW, etc.
What if someone would start developing our current roadmap from scratch... how long would it take to complete? Two years sound pretty fast considering the scale and potential problems & obstacles. If you have followed SuperNET for the past two years, you are aware that there has been problems & obstacles. However, now the hardest problems are solved, backend is ready, only some bugs remain.
SuperNET and Komodo have great future prospects, and a strong history to show for. Of course there has been some setbacks too, but any entrepreneur or startup could tell us that no one can avoid all failures and setbacks.
Today SuperNET & Komodo are about to succeed, and Komodo is benefiting from the hard work SuperNET and jl777 have done during the past two years. Because of the strong basis our development has been really fast. We almost have a fully working product even before the ICO is over, and we included some bonus features that really were not on the initial roadmap. What are those? DEX, pegged assets, assetchains.
So what is SuperNET and what does it have to do with Komodo? SuperNET is a horizontally run organization that is building open source technology. It's main product is called 'Iguana', and now we are upgrading its infrastructure coin from BTCD to Komodo. SuperNET is not a coin, but just an asset listed on the Nxt Asset Exchange.
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I am having some serious issues with 2FA here.
1. I already had my passphrase backed up and saved + BTC and KMD addresses setup. Upon new login today, it gives me new passphrase generation. No old addresses there of cause. Why?
I was planning to invest on the last week. Now this? Little help?
2. Everywhere I see this:
"The following 12 word passphrase was securely generated in your browser.<br/>You MUST write down this passphrase and keep it secure.<br/>If you FAIL to safe this passphrase, you will NOT be able to claim your Komodo at launch.<br/>You will LOSE all your money!"
Yes, <br> like in brrrr, not really professional if you ask me.
3. It lets me activate 2FA and backup the seed, and that's it. No confirmation. Just "please follow the steps below:" and blank space after that. I've got 3 accounts setup on my phone already, doesn't work. Not even asking 2FA on login. (IE and Chrome)
And new passphrase confirmation every time I login
Please take care of all those mistakes ASAP, the end of the ICO is so close and it looks like a job half done.
Hey, Please send a PM and share the ICO email, and the BTC deposit address. I'll send it to the devs and they will take a look. Is ICO account required to transform BTCD into KMD? If yes, will registration be closed after ICO end as they did with WAVES?
You will be able to swap for one full year, no worries. Everyone can swap, even if they do not know about Komodo ICO and would read the news 6 months from now. |
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You can also use Zcash from Komodo's GUI. Hi. Not being funny, but how does this benefit Komodo? Generally speaking we try to integrate to the other cryptocurrency ecosystem as much as possible. We welcome all Zcash users to use our wallet, and then they probably will also use our exchange, and maybe even buy few KMD coins. KMD is our infrastructure coins, and to be able to use PAX fiat assets, for example, you will need to have KMD. If pax usage rises, there is less and less KMD. |
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EasyDEX Update from Satinder!
Zcash GUI in EasyDEX is now using the exact same screens, HTML/Js code as developed for Komodo GUI. In other words, everything that you seen in Komodo GUI works in Zcash GUI now. Zcash Wallet GUI Dashboard  Zcash Wallet Info  Zcash Wallet Receiving Addresses  Sending Zcash and checking Operations Statuses 
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A small Q&A happened on #komodo channel few minutes ago.
Where do the PAX fiat assets get their price feed?The price feed comes from notary nodes, which get it from ECB, with lots of processing to smooth the price out and prevent gaming of the price. What are these fiat chains from a more technical perspective?Fiat chains are specially enhanced chains as they have both the pricefeed and the decentralized gateway into and out of KMD. In other words, they are zcash forks with dPoW, pricefeed and decentralized gateway into and out of KMD Today komodod can spawn 4 types of blockchains: 1. KMD 2. assetchains without anything special 3. assetchains with dPoW 4. pax fiat chains Currently we have 32 category 4 blockchains; jl777 is testing REVS which is category 3; kolo made a category 2 chain the other day Over time there will be more types of komodo created chains. Since the chains are Zcash forks, can you do a private EUR transaction, for example?You can do a private tx, but we would lose explorers so lets wait until we get explorers that work with private tx first Do you always have to get these fiat assets through KMD? i.e. do you need Komodo to get these assets.
Yes, they require KMD What is ratification? Can we add new notaries with ratification?Yes, new slate of notaries can be ratified by existing notaries. Jl777 is still working out the kinks of the consensus for ratificaiton.
Got further questions? Just join our Slack and ask away! |
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My rank has risen. I sent a message back to the campaign.
Is it arranged?
You must fill out the change rank form linked in OP
Regarding the payment process: I talked with the manager and we will ask you to send the info to a specific bitcointalk user in some specific format. We will give all the details when this process starts. The timetable has not been finalized yet, so I cannot give an update about that yet. Please wait patiently  |
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How soon will Komodo be traded at EasyDEX? Have you started developing it already?
Will Komodo also be available to be traded at other exchanges? How long will after the ICO ends before the KMD tokens will be distributed to participants?
 In a central exchange: we will inform the major exchanges about Komodo, but we cannot know when and if they will list us. In a decentralized exchange: We are working hard so you could trade your precious KMD coins without any counterparty risk. But we cannot promise any specific date for this. We have however successfully conducted an atomic swap. For more info read our EasyDEX whitepaper. - 3 months ago jl777 conducted an atomic swap through the command line: https://steemit.com/easydex/@jl777/easydex-test-run-automated-atomic-cross-chain-swap- A week ago we published a whitepaper about the process: https://komodoplatform.com/dex-whitepaper/- grewalsatinder is currently developing a GUI for it, called EasyDEX GUI Our decentralized exchange has a long history, and now finally things are looking very good. We haven't announced any release date though. Satinder is working on other GUI's at the same time, such as the Komodo wallet (on another tab). Today Satinder shared some new screenshots on Slack, here's one:  You will have an access to the EasyDEX exchange and to the Komodo wallet from the same GUI. EasyDEX exchange is a grandma friendly simple exchange, like Shapeshift. We will also develop a fully featured trading environment called InstantDEX (for traders), but it will take a lot longer as it doesn't have a GUI team at this moment. EasyDEX will come first. EDIT: Oh, and we will distribute the KMD coins ~2 weeks after the ICO. |
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Downloads section updated!
We expanded the section, and now you can download our logopack & branding guide. Soon we will also have more articles to explain what we are up to. We are also working with a designer to make some cool infographics! https://komodoplatform.com/#downloads
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Windows wallet to komodo avalible to download?
Are we going to have a web wallet?, that would be awesome.
Here's what the GUI developer Satinder answered a while back: The EasyDEX-GUI is HTML code. Adjustable to all screens from Desktops, Tablets to Mobiles. EasyDEX-GUI is the front-end, user friendly view for end users.
The second part, and most important part is iguana core. iguana core is backend. It is the binary which provides backend APIs used by the front-end user interface EasyDEX-GUI.
iguana binary has been tested on Linux, OS X, Windows, and android in earlier versions of development. But, first we need to have iguana and Komodo to be on stable stages before we concentrate on mobile platforms. As we reach enough stable stages, a native iguana binary packaged for android app can be expected.
I am anyway also spending time in debugging iguana binary for android time to time and report back any bugs or errors found in android version to core developer (jl777). So, hopefully when the right time comes we make Android Mobile version of EasyDEX App without much difficulties.
In stages expect first Desktop wallets to be stable, and then tablet/mobile support to come afterwards.
Hope this clears.
Satinder
I'm not 100% sure about the windows wallet status, but of course the wallet will be available on all platforms in time. |
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I had uploaded a wrong image to grewalsatinder's update. I updated it with the correct one, which is this:  |
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It looks really good! Thanks for the constant updates. The project seems to be moving along really fast! Yes, things are happening so fast that I'm surprised myself! I think now it's just about connecting different pieces together to build the final product. jl777 spent ~2 years building the Iguana backend, which now contains massive amount of highly efficient C code. That really powers everything and allows us to build things such as notary nodes, and do atomic swaps. EDIT: and the thing is that we would like others to use our platform and build DAPPs on top of it (like we are doing). The goal is to make everything easy for developers, so we can bring crypto to a whole new level. Check out http://docs.supernet.org/ |
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Two GUI Updates: one from each projectIguana GUI = multiwallet EasyDEX GUI = full komodo GUI + decentralized exchange + some other extra things (see the tabs) First we have an Iguana GUI update from Boogieman! The GUI update: 1. Angular switch is in full progress and about 50% of the work is done. We plan to close it by the end of the next week. 2. Also, we fixed issues with responsiveness and made screens adaptive for mobile. 3. Now the GUI is Iguana compatible, though still can be buggy on some cases as we have not tested it all around yet. Waiting for our testing forces set free from some urgent tasks. Thus it means the next release will be Non-Iguana and Iguana. 4. We also agreed on how to add coins. We are going to do it steadily, by portions of 40-50 something coins or more, if now issues will arise with icons visual adaptation or coinds on testing. So the GUI will support up to 150-200 coins within next 2-3 releases. 5. Meanwhile we are upgrading some released features, but the major work on upgrade is planned for late November. 6. As soon as we have the GUI stable with Iguana, we will be porting it for mobile platforms and now we are busy with getting sexy mockups for this purpose. They are not 100% meeting Android and iOs style guides, as this requires much more time and more accurate adaptation due to platform specifications. Though we are trying to make them as universal as possible, so they need less changes later on. Creating a new wallet  Login mobile  Next an EasyDEX update from grewalsatinder: - Receiving Address section added, - Get New Transparent Address works - Get New Private (Z) Address works - Receiving Table updates with new updated list of wallet address as new address generates. I was trying to see how I can update history and receiving tables when new data is available to show. With this update that too is figured, and works. I can now implement Send Transaction API oh another update forgot to mention. well, that’s more of a backend code update. I updated the backend code to make wallet ready for first tests to see if a different wallet action is performed, like if user selects to open Komodo GUI, or Zcash GUI, the same HTML code is used, the same JavaScript code is used but with conditions and the exact same GUI elements then show that wallet’s information. I was trying to get Zcash API work through iguana today, but got stuck with something, just waiting for help, and as soon as it’s working, I’ll try my experiments with Komodo/Zcash GUI elements/JS portability So, expect the so far made Komodo GUI work Exactly for Zcash GUI as well!  Once these GUIs works to good extent, I’ll make them work with Fiat Chains and Assetchains well Fiatchains/Assetchains will need a separate GUI Manager, probably, which will be added to EasyDEX-GUI. Hopefully won’t take much time. Will keep this space updated as I move forward. Komodo GUI receiving addresses section You are all welcome to join our Slack, where you can talk with the devs in case you have any questions. SuperNET has always had very open communication towards its community. All these updates are posted on Slack, and more http://slackinvite.supernet.org/
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From on of our Steemit articles: What is the ‘revenue asset’?
For BitcoinDark a certain revenue share was promised from the various projects that compose the overall SuperNET ecosystem. Those revenue shares won’t migrate to Komodo. Instead, the BTCD holders will get an extra asset that will inherit those revenue streams.
The asset is entitled to these revenue streams:
5% of InstantDEX profits
5% of SuperNET profits
5% of crypto777 profits
After the ICO is over, a snapshot of the BTCD blockchain will be taken. Then after the Komodo blockchain supports assetchains that information will be used to create a new asset. A BTCD private key will be required to prove that you had BTCD during the snapshot.
The assetchains are working and currently there are - 32 fiat assets - REVS asset They are all secured by dPoW. |
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When is the snapshot of BTCD for Komodo?
What is the best wallet to store my BTCD in for these purposes? Currently they are still on Poloniex.
Please advise, Regards
The snapshot will happen after the ICO, but there is no exact time yet. We will announce the exact block when it happens once it is decided. If you want the REVS asset via the snapshot, then you must send your BTCD to a local wallet. Check out bitcoindark.com for instructions, and join #BTCD channel in SuperNET slack to get more info or if you have a problem. For the KMD swap the funds can be sent from anywhere, even from an exchange. Sorry if this has been answered before but couldn't find it.. when will the snapshot for the REVS asset happen? Before the end of the ICO? In the quote I was talking about the REVS snapshot There is no snapshot for KMD, as it is just swapped. There's only one snapshot, and it is for the REVS asset |
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When is the snapshot of BTCD for Komodo?
What is the best wallet to store my BTCD in for these purposes? Currently they are still on Poloniex.
Please advise, Regards
The snapshot will happen after the ICO, but there is no exact time yet. We will announce the exact block when it happens once it is decided. If you want the REVS asset via the snapshot, then you must send your BTCD to a local wallet. Check out bitcoindark.com for instructions, and join #BTCD channel in SuperNET slack to get more info or if you have a problem. For the KMD swap the funds can be sent from anywhere, even from an exchange. |
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Our campaign manager was/is going through the list to find spammers.
Regarding the pay day
I'll discuss with the campaign manager and find out what's the exact timetable. I doubt we can pay exactly on nov 20th, as it takes some time to check everything and we also need to collect the BTC / KMD addresses.
I will update you guys soon with more details.
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Satinder Grewal gave an update about Komodo GUI!- Updated Komodo GUI to display both public and private address history on Komodo Wallet Dashboard, in pagination, and with search enabled for that history. - Previous wallet info widgets moved to Komodo Settings section - Komodo Send screen lists both public and private KMD address with balance in that address. Next is: - To link take values from send screen and trigger KMD Send command, which will allow sending transactions: -> Transparent Address to Transparent Address -> Transparent Address to Private Address -> Private Address to Private Address -> Private Address to Transparent Address - Trigger Dashboard transaction history to show updated transaction, - Show Protected Transactions status at Dashboard I hope to get these to do task list done in day or two. Here are updated screens: KMD GUI dashboard 1  KMD GUI dashboard 2  KMD GUI send screen  KMD GUI settings screen 
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Warning to notary node operators
If you are thinking about setting up a notary node, there are some financial risks involved. There are two issues, 1) no one can guarantee you will get elected, 2) the final notary node number depends on our budget
We will setup 32, 49, or 64 notary nodes, depending on how much money we raise. As jl777 has explained before, 5000 BTC would allow us to setup the full 64 notary nodes.
The development team is very grateful for those who have invested their own money and time in notary node testing. Those who have actively participated in testing will receive a substitute for their efforts if they for some reason wouldn't get elected. This promise doesn't cover those who are just now setting up their notary nodes or planning to do so. If you are spending considerable amount of money, please understand that there is a risk that you won't get elected.
***
We are planning to add a field for percentage of subsidy required. That means that each notary node candidate can decide how much guaranteed subsidy they require per node. This is expected to bring down our costs on areas where it is cheaper to run a node.
The vote is what counts though, so a candidate with no subsidy requirements could still not get elected. As a voter you should also consider the candidates technical skills and the hardware specs.
Because some node operators won't require $500/month subsidy the average subsidy amount will be lower than $500/month. Thus we need to reserve less capital for the 10 year buffer.
This thing is probably only relevant for the EU region, where we currently have more notary node candidates than there are spots (even with 64 notary nodes). Also the server costs are a lot lower in EU than they are in other parts of the world. We expect the subsidy to stay around 100% at the other parts of the world. The choice is made by the notary node candidates who set up that percentage (0 - 100 %) and the voters who elect the candidates.
We certainly hope that we can setup all 64 notary nodes. We are working hard to raise the remaining funds during the last week.
How the elections will happen
When you redeem your KMD after the ICO, you will have to vote. In other words the first voting process is embedded to our ICO. After we know our notary nodes and they are running, the network will officially launch and we distribute the coins. There will be enough time reserved for the voting, that even the BTCD investors get a chance to do the swap and vote.
The next elections
If you have paid attention, you have noticed that we haven't talked about the other elections at all... that is because the election process beyond the initial one is still wide open.
We won't make any decision until later, as this is not the development priority. However we have speculated about different possibilities, and the most prominent one is to have periodical elections where some of the candidates are voted out for a re-election. This would drop out the bottom performers and incentivise the notary nodes to perform.
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