Announcement

Two-factor authentication is now possible on our ICO site.

This feature is a bit late, sorry for the delay!

Another Announcement

We have finished our second whitepaper! It will be published on Saturday.

It's titled: "EasyDEX – A Practical Native DEX"

Soon anyone can use the Iguana wallet & EasyDEX GUI to store and trade other cryptocurrencies decentrally. That is our vision and that is what we have been developing.

It is, we just don't update the spread sheet until the end

Hey Juan!

Do you have a link to your SuperNET presentation at Anarchapulco?

I understood someone uploaded them all into some youtube-like bitcoin service.

Would be nice to see it. 

We are much more than just a simple Zcash fork. We just published a guide to clear everything out: https://steemit.com/komodo/@komodoplatform/a-guide-to-better-understand-komodo

Read it and you should have a pretty complete picture about Komodo  

The ICO ends on November 20th. Our schedule is to launch mainnet ~2 weeks after the ICO.

Currently we are ahead of schedule, and jl777 is implementing some bonus features such as PAX.

The GUI teams are working hard to release a wallet with transparent transactions, so that it's easy to send/receive KMD.

...

Speaking about GUI team... we have a pleasure to announce Boogieman has started blogging!

You can read his first blog from Steemit and get an inside look into the difficulties the team has had during the past 4-5 months. Now the biggest obstacles have been solved.

Here's a quote from his post:

Those are good news for all the grandmas out there!  

EDIT: also check out the Iguana GUI commits

SuperNET is all about helping the entire crypto space. We don't want to create an isolated platform - but instead connect to the existing infrastructure as much as possible. We want to integrate as many other coins as possible, so that they can use our multiwallet and our decentralized exchange. By welcoming others to use our tech we will increase our user-base and liquidity. All SuperNET services and Komodo as its infrastrucutre coin will benefit.

Adding Zcash doesn't require any more effort from our side, as Komodo is its fork. First and foremost this is our way to give back something to the Zcash devs who created this amazing technology. Of course we too will benefit if the Zcash users would prefer to use our GUI.


There are two things that should be kept separate:
 1) BTCD snapshot for the REV asset
 2) BTCD swap for KMD coin

There is a specific BTCD block when we take the snapshot, and at some later date you can claim the REV share asset with your BTCD privatekey.

The actual KMD swap will begin after that snapshot and it will continue for 1 full year. Anyone who buys BTCD can of course swap them for KMD at anytime.

Those who want to get the REV asset should keep their BTCD in a local wallet, and export its privatekey for later use. Then just wait until the snapshot is done and you can move your BTCD anywhere, for example back to an exchange or swap for KMD.

GUI Update!

Our GUI dev Grewal Satinder is developing the EasyDEX GUI that will also have a Komodo wallet with transparent and anonymous payments. He just had a small update:




P.S. Notice the "Komodo Wallet" tab
P.S. Soon we will release our second whitepaper: "EasyDEX – A Practical Native DEX"  

A Warning to Our Participants!

We had very simple rules, and one of them was that we do not tolerate spam. It looks like we haven't reviewed the quality of the content our participants post as regularly as we should have. If you have been spamming do not expect to receive any payment from us!


To make this very clear: even if you have been in the campaign for several weeks without getting kicked out, it doesn't mean we would pay you for that time. If you are caught breaking the rules you won't receive any payments!

Please post quality content because everyone will be reviewed. Thus far we haven't done weekly reviews, but there will be a major examination before we send our payment... probably even sooner as we are getting these messages.

After the ICO and the BTCD snapshot. We haven't announced yet when exactly that snapshot will happen, but it will be a specific block.

It all should happen within two weeks after the ICO, so that everyone gets their KMD coins at the same time.

Actually the Komodo blockchain will be quite efficient in itself, and we will have as cheap tx costs as a PoS blockchain.

The notarization process is expensive, as we will have to pay a lot of tx fees to the Bitcoin blockchain. However in time that will become self-sustaining as more and more other blockchain will use Komodo's services. Also if the KMD price rises we might not have to give any subsidies as the notary nodes will get a good revenue from the block rewards alone.

Anyone looking more in depth answer can read them from here:
Max BTC Cap, capital expenditure, SuperNET roadmap
Notarization costs vs development costs

and hopefully also filled out the change rank form!

Yes, the minimum is 0.0777 BTC.

If you send below that amount, then you can do another payment to match it, so that the total goes over 0.0777 BTC.

More info about the payment will come later.

There is no reserved KMD portion in our case. We will simply calculate how much your payment is in BTC terms and then use the KMD/BTC exchange rate to calculate how many KMD coins you will receive.

Komodo block time is 1 minute, Bitcoin blocktime is ~10 minutes. Ideally we would have one Komodo notarization per bitcoin block. That means we would do the notarization every 10th Komodo block (that is the current plan). However we can decrease the costs of notarization by decreasing the notarization speed, for example every 20th Komodo block.

We also have the option to decrease the amount of notary nodes, which would also bring the costs down. Ideally we would like to have 64 of them, but less would get the job done also.

It's all about balancing between notarization costs vs development costs.

jl777 mentioned that even with 2000 BTC we might have to decrease the notarization costs by having less then 64 notary nodes, so that we can get more funds into development.

Yes we have reached the minimum! But of course more funding would ensure more development and all the 64 notary nodes with a decent notarization speed.

Oh yeah!  

35% bonus 500 BTC
30% bonus 0 BTC
25% bonus 980 BTC
20% bonus 606.84 BTC
15% bonus 286.70 BTC

After the ICO we can calculate the KMD/BTC exchange rate, and then we will use that to calculate how many KMD's you would receive. The payment size depends on your rank and how many weeks you participated in the campaign. All the info can be found from the OP.

When we are close to the end of the campaign we will create a form, where
 - you can tell us whatever you want to get paid in BTC or in KMD
 - what is your BTC address
 - What is your KMD address / ICO account (we will provide all the info necessary at that time)

The Komodo mainnet won't launch until about 2 weeks after the ICO. We don't know when exchanges will support KMD. I don't have all the details yet about how the KMD payment scenario will go, but probably you would have to create an ICO account and we would send the payment there.

We will explain everything in detail close to the end of the campaign, no worries.

A Guide to Better Understand Komodo v.0.1

Understanding Komodo could be separate into three things: 1) Zcash, 2) dPoW, 3) SuperNET

If descriped in one sentence: Komodo is a Zcash PoW fork that adds the dPoW consensus on top of it and integrates into the SuperNET ecosystem.

- Zcash -

Komodo is a Zcash fork, so we will have all the same privacy features as they have. This includes having both transparent and protected transactions. We will also use the same trusted setup as they do.

What is Zcash?
Zcash is an implementation of the "Zerocash" protocol. Based on Bitcoin's code, it intends to offer a far higher standard of privacy and anonymity through a sophisticiated zero-knowledge proving scheme which preserves confidentiality of transaction metadata.

Relationship with Zcash
Komodo is not involved with the Zcash project in any way. However our lead developer jl777 was involved with discussions about Zcash protocol design. https://github.com/zcash/zips/blob/zips27.reorganisation.1/protocol/protocol.pdf

Tursted setup
Some people have critized the Zcash because there is no way to verify whatever they did successfully destroy the "toxic waste". This question is highly relevant for us too, because we will use the same parameters. It should be noted though, that it is enough if just one person managed to successfully destroy their private key. If someone would somehow manage to get all the private keys it would grant him a way to counterfeit more Zcash coins and KMD coins. For more info, see:
https://bitcointalk.org/index.php?topic=1605144.msg16257692#msg16257692
https://bitcointalk.org/index.php?topic=1605144.msg16352842#msg16352842
https://bitcointalk.org/index.php?topic=1605144.msg16636554#msg16636554
https://z.cash/blog/generating-zcash-parameters.html
https://z.cash/blog/the-design-of-the-ceremony.html

Mining
As our initial concensus we will have the same equihash PoW mining as Zcash has. However, because we add dPoW on top the mining aspects are not the same, see dPoW section for more info.

Competition with Zcash
We don't see ourselves competing with Zcash as we are simply the first fork of the many Zcash forks we expect to see. Zcash's open source code allows any project to integrate a privacy technology to their platform. We have discussed the Zcash competition aspect before, see:
 - https://bitcointalk.org/index.php?topic=1605144.msg16592269#msg16592269
 - https://bitcointalk.org/index.php?topic=1605144.msg16592178#msg16592178

- dPoW -

dPoW is a brand new consensus mechanism that provides bitcoin security to all other dPoW chains. Only Komodo has to attach itself to Bitcoin blockchain, and for others it would be more economical to attach to Komodo blockchain because Komodo has lower tx fees than bitcoin.

Why dPoW?
We developed dPoW so we 1) get better security for Komodo, 2) third party blockchains can use Komodo as an additional security layer, 3) SuperNET can achieve its own vision about independent assetchains.

Notary Nodes
64 notary nodes will handle the bitcoin blockchain notarization. Notary nodes are elected by Komodo coin holders.

Elections and running a notary node
If you want to run a notary node we highly recommend you to start one in our testnet. Join #notarynode channel on SuperNET slack. More info:
https://github.com/SuperNETorg/komodo/wiki/Setup-Komodo-Notary-Node
https://www.komodoelection.com/
https://steemit.com/komodo/@komodoplatform/notary-node-elections
https://steemit.com/komodo/@komodoplatform/komodo-zcash-pow-with-dpow-consensus-mechanism
https://komodoplatform.useresponse.com/topic/can-you-give-me-information-about-the-notary-nodes-election-process
https://komodoplatform.useresponse.com/knowledge-base/article/do-we-need-to-have-the-dedicated-server-already-in-place-for-the-vote-or-is-it-enough-to-describe-the-server-which-will-be-ordered-after-a-successful-candidacy

Mining
Notary nodes will do majoity of the mining because they will have a lot lower difficulty. The other 'normal nodes' can also mine, but it won't be economical as long as the notary nodes are also online.

Round robin mining will ensure that there won't be notary node mining wars and that Komodo tx fees will stay low. For more info see: https://komodoplatform.com/notary-mining-wars-and-how-to-avoid-them/

5% APR
5% APR is expected to be accrued automatically (no actions required) by detecting when the funds arrived in the output and calculating the accrued interest. the total inputs are then adjusted by this amount. It has nothing at all to do with mining or notary nodes. For more info see: https://komodoplatform.com/how-to-implement-5-apr/

Notarization
Komodo's block hashes are recorded to Bitcoin blockchain through group signed transactions. The Komodo blockhain history cannot be changed without also changing the bitcoin blockchain's history. Thus if you make a komodo transaction and wait for it to get notarized the transaction will get secured by Bitcoin's hashrate.

Value Proposition
Third party blockchains can use Komodo to get the Bitcoin level security. The dPoW consensus can be thought as an additional security layer or a two-factor authentication method for blockchains. We believe that we will continue to see more and more blockchains and those will require a way to secure themselves. By using Komodo they pay tx fees to our network, and additionally they can choose to use our high capacity notary nodes.

We will make it as easy as possible for other blockchains to get the bitcoin security through Komodo. Currently the Stratis Platform is interested about using dPoW to secure their private chains. https://www.youtube.com/watch?v=uiIYj9d8bOU&feature=youtu.be&t=1877

Seamless transition
If all the notary nodes would suddenly dissapear the Komodo blockchain could continue to function as it would seamlessly transition into the equihash PoW mining done by the 'normal nodes'. However, without notary nodes the system would lose the bitcoin protection.



more info
https://steemit.com/komodo/@komodoplatform/komodo-zcash-pow-with-dpow-consensus-mechanism

- SuperNET -

Komodo is part of a broader project called SuperNET. SuperNET needs Komodo because:
 - SuperNET needs the best anonymity technology
 - dPoW to secure SuperNET's assetchains
 - The ecosystem needs an infrastrucutre coin - a blockchain - that other SuperNET technologies can use. (SuperNET aka UNITY is an asset without a blockchain).

A Short Roadmap
SuperNET has an extremely ambitious roadmap that includes
 1) assetchains that allow anyone to create their own asset with its own blockchain
 2) multiwallet where those assets can be stored, including many coins like Bitcoin and Komodo
 3) atomic swaps, so that people can trade their coins from the multiwallet without counterparty risks
 4) pegged assets - which are another asset created from the assetchains - that solve the problem of price volatility

History
SuperNET had an ICO back in 2014. Its original vision was to build services on top of NXT, and cooperate with other blockchain projects, aka 'corecoins'.

SuperNET successfully created a decentralized exchange where custom tokens were traded on Nxt Asset Exchange. This project is known as MultiGateway and is still working today. http://multigateway.org/. Related to this is a multiwallet called SuperNET lite client, that was also build on top of Nxt. That project is also still actively used. https://tosch110.github.io/SuperNET-Lite-3/

The next big thing coming from the team was InstantDEX, an ambitious project that would create a decentralized trading layer between decentralized and centralized exchanges. The backend was build on top of the Nxt and only a GUI was missing. However, due to Nxt's new development path the Nxt's dependency had to be removed from all SuperNET services.

It was a hard choice made by jl777 that caused the entire project to take multible steps back, and InstantDEX never had it's release. Because of the choice the SuperNET's roadmap was considerably widened with even more abitious goals. jl777 wanted SuperNET to not be dependent on third party services/blockchains and began to develop Iguana.

Overall this caused a lot of concern among some investors, who started to belive nothing would never get fully finished. Nonetheless the development continued and progress was made, but it has been under the radar of most people.

Today the backend code is working, and jl777 is connecting all the pieces together. Our community/team is finding bugs and the technology is more and more polished every day. We also have freelance GUI devs working and we are getting ready to introduce our ecosystem to the broader crypto community.

Komodo is a major missing piece that will ensure we get Notary Nodes, dPoW, and funding for development.

If you still doubt that there has been no progress read this post: https://bitcointalk.org/index.php?topic=1605144.msg16173959#msg16173959

Why we need funding
See this post: https://bitcointalk.org/index.php?topic=1605144.msg16734523#msg16734523

GUIs
Komodo can be used in Iguana GUI in its transparent mode. Another GUI is beind developed that will also have the protected (anonymous) mode. For more info: https://steemit.com/komodo/@komodoplatform/komodo-gui-graphic-user-interface-update

From here you can see all the Iguana GUI updates: https://imgur.com/a/mi6SU

PAX
Each PAX asset has its own blockcahin (assetchain), and those are secured by dPoW. For more info see this post: https://bitcointalk.org/index.php?topic=1605144.msg16703712#msg16703712

Ecossytem
Everything jl777 has been developing ties together into this big ecosystem of decentralized solutions. The different parts need each other and together they will power-up a bigger system that will go head-to-head against the old fiat system. In this vision the dPoW and Komodo play a big role.

Our open source code
Iguana - https://github.com/jl777/SuperNET
Komodo - https://github.com/jl777/komodo
Assetchains - https://github.com/jl777/assetchains

More info
https://steemit.com/iguana/@komodoplatform/the-silent-progress-of-deep-tech
https://steemit.com/komodo/@komodoplatform/q-and-a-supernet-iguana-and-the-role-of-komodo