30 000 BTC CapWe are again talking about this  If we could go back in time we would not set such caps, as this clearly causes a lot of misunderstandings. Our goal was never to rise 30 000 BTC, but rather 1000 BTC minimum, and anything over that would allow us to increase the notarization expenditure and hire more full-time people. The 30 000 BTC was an arbitrary cap. Why we need capitaldPoW & Notary NodesIt costs a lot of money to do constant group signed Bitcoin transactions. About 100 notarizations per day would cost ~0.3 BTC/day, which is 9 BTC/month. Our plan is to attract third party blockchain to use Komodo's dPoW as an additional security layer (like 2FA for blockchains), we will make the process as easy as possible and according to jl777 they might not even need a hard fork. However, for them to take our service seriously we must be able to show them that we are able to continue running the service long in the future. Thus we have decided that we need at least 10 year buffer of tx fees. The tx fees alone would cost 1200 BTC in the 10 year period. Of course eventually the system will become self-sustaining as other blockchains will use our service and pay tx fees to Komodo. Then we have the 64 high capacity notary nodes. To them we guarantee an income of at least $500 / month. They will get revenue from the block tx fees and block rewards. However if that is not enough we will pay the difference, so that they will receive at least $500. From that info we can calculate worse case scenario where we would pay the full $500/month: 64 NN x $500/month x 12 months = 384 000 USD/year. DevelopmentKomodo has a central role as an infrastructure coin in the SuperNET ecosystem. Komodo is in fact the only coin as all the others are just assets, e.g. SuperNET (UNITY) is an asset. Komodo will bring security via dPoW and privacy via Zcash zero knowledge proofs. 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 We need GUI devs: jl777 has created a lot of the basic low level tech, but many applications are still missing GUI. We need project managers: jl777 is the lead deveveloper / architech - not a project manager - and our project really needs a strong management team We need C devs: currently it would take a lot of time for someone to replace jl777, so we need more people who understand the low level tech we have We need testers: we need to remove all the bugs before the end users can use our product. That said, we are currenlty hiring so send us your application: contact@komodoplatform.comIt is so expensiveWe hope it is now clear that we really do need capital, and without it our project could never succeed. Thus far the SuperNET develoment has been going on with half steam, as we 1) haven't had a strong project manager, 2) we have had only part-time freelance GUI devs, 3) testing has been done by the community members on their free time... however jl777 has been coding 24/7 since he started the project in 2014, and that is really the reason why we have gotten as far as we have. If we would have received only 1000 BTC, for example, then we would have had to decrease the cost of notarization. That would have meant less notary nodes and slower notarization speed. Now that we already have received over 2000 BTC we really want to thank our investors as you have already guaranteed that we can setup the notary nodes and continue the development with bigger full-time team! Thank you.
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Just applied for the avatar change. Reassure me, it isn't too late to join ? It seems more interesting that I originally thought so I wanted to take part in  . You were in the campaign and filled the form for an avatar change? Yes it should be all okay then |
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I also upgraded my acc and filled up the form. so the payments will be made after November 20th?
Yes, after the ICO/campaign is over |
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Meanwhile in SuperNET slack...
Boogieman posted a GUI update on #iguana channel: The GUI update:
1. We discovered different cases for amount and fee input in the sending function, so we created states screens and already deployed them.
2. Added animations to show common and sub-wallets balance and transaction history updating progress.
3. Done with responsiveness for desktop dimensions and working to make it mobile.
4. We also discovered some technical issues with old or less popular browsers, so we decided not account only Chrome, Firefox and Safari of the latest two versions so far. We will support other browsers or older version on demand.
5. As coins have unique logos, signs we have to make some visual adaptation of them to use in Iguan App. And as there are more then 100 coins, it will take some time to have them onboarding just because of the little issue. But we will pushing what is done and I will update the list of the supported coins in the release notes.
Through Iguana multiwallet the Komodo coins can be used in the transparent mode, so its development is highly relevant to us.
All GUI updates so far
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Yeah the dev has successfully copied zcash technology. Now what? I dont see any real world use case for komodo. Zcash price will slowly decline to peanuts and so will the price of kmd. No reward for investors.
I would be very careful investing in any zcash copycat. A lot of dev want to take advantage if this zcash hyoe. Dont lose money in the zcash hype.
Komodo is more than just a simple fork. See what we posted yesterday: https://bitcointalk.org/index.php?topic=1605144.msg16723402#msg16723402Polycryptoblog gave a nice answer too: https://bitcointalk.org/index.php?topic=1605144.msg16727264#msg16727264Not sure if this has already been answered but can someone please explain what happens to the additional coins if the target investment is not reached? Will they be burned off or will they be given to the investors?
We will distribute all the 90M KMD coins, no matter how much we raise. Forgive us, it was our first interview. We admit that we cannot give as throughout answers as our lead developer jl777 could. If you are looking very technical answers and in-depth information then this thread, our Steemit articles, and jl777's development updates are the best source. We are continuously trying to improve our ability to explain this complex project (SuperNET/Iguana/Komodo) to our investors. |
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Wait a minute, what is komodo and why suddenly involved with zcash? why komodo says : come and invest in zcash ico?
Hello there! We are not really involved with Zcash, although our lead developer jl777 were offering his input in the alpha stage. Komodo is a Zcash fork, that will add its own technology on top of it. Basically the privacy side is exactly the same as in Zcash, including the trusted setup. Currently we are having our own ICO for the Komodo coin. We will distribute 90M out of 100M coins to the investors. hey guys why did you remove the ICO stats from https://komodoplatform.com/it was good to see it w/o login, openly visible for everyone. You can still see the amount of BTC raised. I believe the bonus stages didn't show up correctly so the dev had to remove some statistic. |
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I watched the first video interview and still have no idea what this is... or why it is needed...
Very shortly & simply: Komodo is part of a broader project called SuperNET. - Komodo uses Zcash because SuperNET needs anonymity technology, and Zcash is the best tech. Komodo can be thought as SuperNET's infrastructure coin. - 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. Komodo = Zcash fork + dPoW + it will leverage from other SuperNET technologies Here's some more info:
About GUIs, open source code, decentralization, Zcash competition
About KMD supply, mining, trusted setupAbout assetchains, PAX, SuperNET ecosystemHere's an interview conducted by a Spanish news website with our community managerWhat is Komodo?
Komodo can be thought as an infrastructure coin that other blockchains and services utilize. Its biggest features are Zcash anonymity and a new delayed Proof of Work (dPoW) consensus method. Thus Komodo will use the best privacy technology (Zcash zero knowledge proofs) while enjoying Bitcoin level security.
What solution does Komodo bring to the cryptocurrencies and blockchain world?
In our bigger roadmap we needed a way to secure weak blockchains, and because of this we developed the dPoW consensus method. With the dPoW any blockchain can notarize its hashes to Komodo blockchain, which in turn notarizes its hashes to Bitcoin blockchain. It can be thought as a two-factor authentication method for blockchains or as an additional security layer.
Any blockchain platform can use Komodo for additional security, and by doing so they will also make Bitcoin more purposeful by “recycling” its hashing power. Thus Komodo will really help the entire cryptocurrency ecosystem.
What are you expecting to achieve with this ICO?
The dPoW implementation requires high capacity Notary Nodes, which will create group signed bitcoin transactions. Those transactions cost money, and part of the ICO funds will be used to make sure those Notary Nodes get properly funded. Eventually the system will become self sustaining, as other blockchain will pay tx fees to Komodo.
With the funding we will make sure our long term vision for crypto is achieved with a bigger team and an accelerating development.
Why people should invest in your ICO?
One of the hottest word in crypto is Zcash and its zero knowledge proofs, which allow extreme anonymity for its users. As the first Zcash fork we will give the same anonymity features to our users. Zcash didn’t offer a traditional ICO for its coin, so Komodo is the best opportunity to jump on this train.
Which are the plans of Komodo for growing in the future?
Komodo plays a key part in the other technologies our team is developing, and is guaranteed to get leverage from them. The other projects we are developing are parallel syncing multicoin wallet, decentralized exchange with atomic swaps, assets with independent blockchains, and so forth.
We will make it as easy as possible for other projects to start using dPoW in order to give additional security for them. Every chain using dPoW will create demand for KMD, and we expect the trend for individual blockchains to only increase in the future. A private blockchain will need security, and for that they will come to us.
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bounty will be paid to the account of email from ico ? Write something more about this procedure
If you want to get paid in BTC then you will give us a BTC address at the end of the campaign (we will create a way for you to do this). If you want to get paid in KMD then we probably can pay to your ICO account, but this will be specified later.
Registration is closed! |
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I would like to welcome ca333 to the komodo technical team. He will be in charge of security and will be doing regular audits on the codebase and APIs. He has also come up with a novel solution, but I will let him introduce himself more.
Thank you for this exciting opportunity! about me: I have worked multiple years in the field of IT-security, network security and network-based software development (relay services, div. detection system, and so on). In the last years i was involved in a few scientifc projects. I like pentesting software and network services. First and foremost i love reviewing and securing decentralized software and blockchain-based technologies. I found my calling in this. And i am very proud and feel honored to be part of such exciting projects and milestones in the evolution of IT. The vision behind SuperNET was the motivation for me to be part of this. Few days ago i did a security audit and source-code review for james and the superNET-org and we discussed many topics and potential enhancements in the general field of crypto-security. I proposed a novel solution which we are now working on. I do not want to reveal more than necesary. So far we are the first and only project to use this technic for the usage with cryptocurrencies. It will ease the usage and provide top level security for the average user with no IT-knowledge. I thank the superNET team and organisation for this interesting and exciting opportunity. I would like to welcome ca333 to the komodo technical team. He will be in charge of security and will be doing regular audits on the codebase and APIs. He has also come up with a novel solution, but I will let him introduce himself more.
Welcome @ca333!!  thank you @yassin54! Welcome to the team ca333! You were just added to our team page on komodoplatform.com |
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@yassin54 I want to leave komodo bounty campaign , please settlement
Ok,, I'll deliver your message. So now you have successfully left our campaign on October 28th. The bounty will be paid at the end of the ICO. Best regards |
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Does Komodo come
--without the 20% founder mining reward?
--without that 6 trusted custodians thing?
if so, in what other ways is it better than zcash? any big dev names associated with this?
Yes, there are no founder mining rewards. In launch we will sell 90M KMD coins out of the 100M. The remaning 10M is reserved for development, advisers and bounties. After the launch the Komodo supply will inflate to 200M over 14 years. The mining is different from Zcash because we are building the dPoW consensus on top of the Zcash equihash PoW mining. This means that the Notary Nodes will do majority of the mining with an easier difficulty, and the other normal nodes will have a higher 'normal difficulty'. Thus it is not economical to mine KMD with normal nodes, but the system ensures that the mining (and the network) continues even if the notary nodes would disappear for some reason.  The Notary Nodes will receive blockrewards and the tx fees. Anyone holding KMD will receive 5% APR from (like staking awards) when they send a normal non-anon TX. The reward is paid from the last time you sent it. So if you hold 1000 KMD for 6 months without moving them, you would receive the interest once you send them to a new address. About the trusted setupThere is no way for us to create the parameters more securely than the Zcash team will, thus we will use the same parameters. The topic has been addressed before by jl777, see: https://bitcointalk.org/index.php?topic=1605144.msg16257692#msg16257692https://bitcointalk.org/index.php?topic=1605144.msg16352842#msg16352842https://bitcointalk.org/index.php?topic=1605144.msg16636554#msg16636554Also the Zcash blog posts are relevant: https://z.cash/blog/generating-zcash-parameters.htmlhttps://z.cash/blog/the-design-of-the-ceremony.htmlWe don't see ourselves competing with Zcash. We are simply using their privacy technology because it is the best technology available. We expect there to be many Zcash forks, and we are just the first one. Many different projects require privacy, and that's why they too are an open source project ... so different projects can utilize their technology. Here's what jl777 things about competition with Zcash: https://bitcointalk.org/index.php?topic=1605144.msg16592269#msg16592269But what makes us different from Zcash? From privacy standpoint: none. However there are two major things, 1) we have the new dPoW consensus mechanism that can be used by third party blockchains as an additional security layer, 2) Komodo integrates and is used by the overall SuperNET technology / ecosystem. We have one quite famous developer: jl777. He's the lead developer of SuperNET, Iguana, and Komodo. Recently he came up with a way to describe these three things very simply: "SuperNET is the vision, iguana is the software, komodo is the coin". |
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Many of you might be wondering what are these "assetchains" and what the heck is "PAX"  In short, they are all part of the SuperNET's vision to decentralize everything and solve the biggest problems crypto has. These terms might be familiar for those who hang around in SuperNET slack daily, but go a little over the top for the new investors. So what problems are we solving? > dPoW will secure the weak chains (solves security problems) > assetchains will create independent assets with their own blockchain (solves blockchain dependency problem) > atomic swaps (DEX) will create a market for coins and assets in assetchains (solves decentralize exchange) > PAX will create fiat backed assets, i.e. crypto dollars (solves volatility problem) > Iguana is the multicoin wallet (solves decentralized wealth storing) Each PAX asset has its own blockcahin (assetchain), and those are secured by dPoW. Likewise the dPoW will secure all the assets in assetchains and those assets can be sent and stored in a decentralized wallet called Iguana. Each PAX asset and any other asset from assetchains is traded in decentralized exchange thanks to low level Iguana tech and atomic cross-chain swap protocol. 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. Whenever you see a mention about BTCD you can replace it with Komodo, as Komodo is the BTCD 2.0. In time, everything that uses BTCD will be using Komodo. About PAX
You can read about PAX from bitcoindark.com website. It should be about 80% up-to-date info, and gives you a basic understanding about what it is. Pegged Assets Exchange (PAX) - FAQThere's also a good infographic about it. However, at last for now the PAX will only have fiat currencies and not gold, silver, etc. 
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I get it now ! thanks. but when I asked about the wallet I didn't mean where the funds are sent but I meant the coin for the wallet itself (like Bitcoin have Bitcoin Core/Electrum/Multibit HD etc... ) , another question ... Is this coin open source ? and is it decentralized ? and how would you compare yourself to other "anonymous" coins like Monero , Dash & Zcash. There will be two GUIs for Komodo. The first GUI is Iguana, which is a SuperNET multiwallet that has been in development long before Komodo was announced. Through that GUI you can use Komodo in its transparent mode, i.e. send normal transactions. The other GUI is being worked on by Satinder Grewal, and it will also be able to send out the anonymous transactions, i.e. protected mode. The mainnet is scheduled to launch two weeks after the ICO has ended. Probably we won't have the anonymous transactions in a GUI format at that point, but we should have the Iguana GUI with transparent transactions. The Iguana GUI team led by Boogieman's team has been doing great progress. They make constant updates in SuperNET Slack channel #iguana. We have combined those updates into a gallery. Yes, it is all open source!
Iguana - https://github.com/jl777/SuperNETKomodo - https://github.com/jl777/komodoAre we decentralized? Yes, the whole SuperNET project is about decentralization: decentralized multicoin wallet, decentralized exchange, decentralized poker, decentralized pegged assets. Komodo is also decentralized, as we use the Zcash equihash mining as our initial consensus. However, in dPoW the data has to be notarized into the bitcoin blockchain by group transactions, which means only a limited set of nodes can do that. In dPoW we came up with 64 notary nodes that will give that Bitcoin security. Maybe someone could say that it is not as decentralized as having 1000 nodes, but it is quite decentralized nonetheless. Komodo is a Zcash PoW fork that adds the dPoW consensus on top of it. The system is not dependent on those notary nodes, as without them we would seamlessly continue with the normal PoW mining done by the normal nodes. See this picture. That brings me to the competition aspect... As I already stated Komodo is a Zcash fork, which means we will have the exact same privacy technology. However, Komodo is much more than just a private payment system. In any case we don't see ourselves competing with Zcash. We are simply the first fork of the many Zcash forks we expect to see. Many different projects require privacy features, and those are provided by their open source technology. 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#msg16592178Then how does the Zcash tech do against the other anonymous coins? Basically it's a totally different way to achieve privacy. If you are interested you can read more from Zcash's websiteAlso some interesting links: - https://forum.z.cash/t/what-does-the-zcash-team-think-of-monero/1465 - https://steemit.com/blockchain/@juansgalt/zcash-futures-at-2-2-billion-market-cap-is-it-s-technology-that-good-report |
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I was never interested in ICOs myself but after investing in ICONOMI , It became fun and I decided to invest in more projects. I can see your ads almost everywhere but there is something weird I can't understand , I know this is meant to be an "Anonymous" coin but I don't see the need to hide the Team identity , If this is a legitimate coin everything should be public ? https://komodoplatform.com/#about I only see their aliases and no real names? Hello! It is actually a small misconception that our whole team would be anonymous. Our community manager Audo appeared in a Spanish interview with his real photo. The English transcript can be found from here and later from our website also. On Friday we will appear in a live interview with coininterview.com. There you will meet Polycryptoblog and Grewalsatinder. Also many of the people working for GUIs are not anonymous. Likewise TwinWinNerD, one of the key holders, is the CEO of bitpanda.com. It is true that there are some anonymous members, like our lead developer jl777. We just value the past achievements more than official names and credentials, and because some of the team members are anonymous we all decided to wear nick names and avatars on the introduction page. I read some of the questions on the FAQ as well and I can't understand what is the relation between BTCD , NXT & Komodo Coin (KMD) ? also is there is any official wallet for this coin ? If yes , please link me. Another thing I would like to know is how much KMD will be created ? and is it possible to mine them ?
I know those are a lot of questions but I just want to get some information's right before I invest.
- Komodo is a BTCD 2.0, so the BTCD's are swapped for KMD after the ICO - NXT has no longer nothing to do with Komodo or SuperNET - Official ICO address is https://blockchain.info/address/35Rwwc9e2Mj7smFXJ1iXF826cMW3tqfz6x [but do not send investments directly there] - There will be 100M KMD (out of that we sell 90M in the ICO). In time we will have total of 200M KMD due to inflation. - Mining is done by Notary Nodes, and to become a notary node you will have to be elected. If you are interested about becomeing a notary node here are some useful links: https://github.com/SuperNETorg/komodo/wiki/Setup-Komodo-Notary-Nodehttps://www.komodoelection.com/https://steemit.com/komodo/@komodoplatform/notary-node-electionshttps://steemit.com/komodo/@komodoplatform/komodo-zcash-pow-with-dpow-consensus-mechanismhttps://komodoplatform.useresponse.com/topic/can-you-give-me-information-about-the-notary-nodes-election-processhttps://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 |
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Finally this account got a member status! To celebrate this we have made the tittles in the second comment more pretty! We also included links to all developer updates, steemit posts, and newsletters. From there you can also check how many BTC's we have rised in each bonus stage, and download the ICO calculator, etc. |
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Hello , I've been ranked up to Full Member now and wearing the Avatar. Could you update in the spreadsheet ? , I'm also filled the form as well  I just did an avatar change request. Can you confirm me that it has been taken into account, as I see that nothing is changing on the spreadsheet ?
Yes, if you filled the form it is all OK! The spreadsheet won't get updated until the very end. |
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Hi OP,its a week which I have been rank up to Senior Member with all the require form/code been setup but on the spread sheet I'm still on the Full Member list.. Why?
Fortunately, the answer is right above your post, ~snip~ You must fill out the ' change rank form'. We won't update the spreadsheet until the very end of the campaign.Just a suggestion, I personally think this question had been asked far too often that I think you better add this info on the first post, admin. Holydarkness,I have filled the change rank form since last week Tuesday and that's why it curious that I'm still on Full member list. Do I have to do it again? Could the op do something pls The spreadsheet won't be updated until the very end. And yes, I should definitely include this info in the OP  Dear Komodo Team, As of today October 26, I am now leaving the campaign. It was a great being part of the promotion team for the past few weeks. I wish you goodluck and success. Please update my status. I will be waiting for the ICO end for the bounty. Again, thank you.
Ok, thank you! Yes, you will get the bounty at the end of the ICO. |
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