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battled against C++ a bit, its not my language so progress is slow. Finally got things to compile, but still needs some debugging.
I like to make forward progress every day and the ratify API is nice, but not enough for my taste. With the C++ being so painful, I decided to do something that needs to be done at some point and would be good progress.
So I rebased komodo to latest zcash beta in the dPoW branch and it seems to work.
To update an existing installation:
git pull
# if not already using dPoW branch: git checkout dPoW
./zcutil/fetch-params.sh
./zcutil/build.sh -j8
it seems a -reindex is needed to be added the first time it is run
it does seem to be compatible with the existing testnet chain, so run it as normal
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Are the pre-ICO Investors included on that page? If not, how much was raised?
500 BTC pre-ICO is included First time that i read something about pre-ICO -Investors. it was announced about 10 days before the start of the ICO What was their price BTC/Komodo?
there was a 30% bonus for 250 BTC and 35% bonus for 500 BTC How many pre-investors are here, and who are they?
we respect the privacy of all investors and will not divulge such details |
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Are the pre-ICO Investors included on that page? If not, how much was raised?
500 BTC pre-ICO is included |
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The following is the remaining todo list:
// a) detection of special transactions to update list of current notaries
// b) updating latest notarized height based on the notarized tx data
// c) prevent overwriting blocks below notarized height
// d) award 5% APR for utxo older than a week when they are spent
// e) round robin mining difficulty
Just coded c) and getting feedback from BU devs.
Next up is a) and b) which when completed will complete the non-mining aspects of dPoW.
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also if iguana isnt done, then how is it possible that I create an iguana notary dapp that is working?
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Hey James,
maybe you can give us a statement to thefollowing.
There are dozends of projects and icos from you. jl777, nxtventure, supernet, etc etc
Almost none of your projects is anywhere near finished. The recent project Iguana is not finished.
Now you start the next project and the next ico.
Looks like there is some systematic behind this.
So maybe you can tell us, if you will ever finish a project?
While I have done many projects, I think "dozens" is an exaggeration. Similarily your statement about no projects finished is a bit harsh. jl777hodl is a holding fund for various crypto projects. As such it has been finished for years. It was the first asset that started trading and made history, this was something like 2 years ago. I would consider this finished. MGW is multigateway.com and that also has been finished and in service for over a year. Since it is working and being used for over a year, I would consider that finished. NXTventure is another one that has been finished for over a year. It has paid out in dividends more than I think any other NXT asset by value of dividends at the time it was sent out. Again, the future of NXTventure is hampered by all the changes with NXT that is out of my control, however I would consider NXTventure was completed. SuperNET is a hybrid holding vehicle and technology incubator. At least that is one way to look at it. http://www.supernet.org/nav.php shows its current holdings and despite being hit by a 75% reduction in its NAV the first year (mostly due to NXT price decline and my not actively trading), the NAV has more than doubled to within striking distance of the original. This is achieved while paying for all the costs to run SuperNET out of the investment gains. Now what other project self-funds from investment gains that it makes? I have issued more than a dozen proxy assets, such as mgwBTC and superBTC. These asset's function is to represent 1:1 the BTC to allow using the NXT AE to trade them via blockchain. I did this 2 years ago and I am pretty sure it was the first tokenDEX that allowed trading of crypto against crypto. This is 2 years ago, when just now we finally see other solutions of this kind appearing. I would consider these assets completed. Iguana is a bitcoin daemon and wallet that can sync the entire BTC blockchain from scratch in 2 hours. It also can sync over a dozen other coins, all from a self-contained codebase that I wrote from scratch. Its codesize is about 3MB and it has been ported from unix to osx, win32, win64, android and chrome app. docs.supernet.org documents its API bindings and it is now in the final stages of debug and will be used as a component within komodo. I have seen some GUI that is looking pretty good and for basic wallet function and parallel sync it appears to be working, though I do the core level code and not the GUI so I cant speak for it in detail. Is iguana completed? Not quite, but it is very close and I suggest you take a look at it. The source code has been open and available during the development process at https://github.com/jl777/SuperNET and you can see that I have been quite busy over the years. docs.supernet.org documents the API crypto777: this is an ongoing technology revenue asset and as soon as project start generating revenues, it will too. It basically represents revenues from the technology that I do that doesnt already have an asset to encapsulate its revenues. In some sense it is done, just that the revenue streams are flowing yet. Maybe this is in an in-between state, but there was no ICO per se for this, so not sure if you have an issue with it. Now to the real unfinished projects list, however please note that there was NO ICO for these and it was funded by small number of private investors, so I dont think it is fair for you to criticize them as an incomplete ICO, as they were not even ICO: InstantDEX: easyDEX is in last stages of coding/debugging and is part of the overall solution of loosely coupled blockchains using atomic swaps. The full InstantDEX was mostly working last year(!) however due to disappearance of GUI dev combine with NXT increasing txfees dramatically while reducing the available space to store data, made an InstantDEX built on NXT uneconomic. Should InstantDEX have been finished by now? Yes. I made a mistake of building the InstantDEX on top of NXT, which is a platform that I had no voice in and when everything was changed and made it so a few of my projects became unviable, my protests were met with a "you should have known better". OK, so lesson learned and now I know better, I wrote iguana from scratch so its entirety I am in control. Never again will I be at the mercy of arbitrary changes that break backward compatibility and the fundamental economic model of a service I built on top of it. Pangea: this is a decentralized poker service that is in a holding pattern now due to the retooling required to switch from a NXT based service to iguana based. Tradebots/NXTcoinsco: part of this is in the process of being completed within the easyDEX framework, but again the shift from NXT based to iguana based was a delay factor. NXTprivacy: this is mostly a deprecated asset due to my shift from NXT to iguana, but I do have a plan to infuse some life to it after the dust settles from the other projects. In any case it never did any ICO and didnt even do much of secondary trading on NXT AE, so its priority has been low. Do you want me to list the projects that I didnt even raise funds from private investors and are just various technology projects that I have percolating? Not sure why you would have any complaints if I have a lot of projects in the research phase that I have not raised funds for. I proposed an Asset Passport system, which is a way to protect asset issuer and holders by allowing them to migrate from chain to chain. This was actually the genesis of dPoW which evolved from the need to secure weak PoS chains. I never raised any funds for this. I have proposed Teleport, Telepathy and PAX within the BTCD context, but I did not do any ICO to raise funds to develop this. Teleport at a high level is similar to zcash, in that there is a blackbox of bits representing the transaction, but the math behind the zero knowledge proofs is a step above anything else and I always want to use the best tech solution for my systems, even if it means replacing something I made. Telepathy is a network level privacy "mixer" and this will work on top of the komodo, of course it needs for komodo to be finalized and also its urgency is much less due to the strength of zcash tech. PAX has been coded to alpha level, but as an unfunded project has been back burnered and also waits for the full transition to iguana. Is it is disappointing that these things have not been completed yet? Sure, but I am just one guy coding away most days and many have advised me to get more help at the core level. The issue is I cant find any other C coders at my level who will work for anything less than a lot of money. I am also providing free consulting for many projects, they just have to ask and I try to help as I can, which is usually with some technical ideas. I am not the one actually doing these projects though, so I hope you do not hold me responsible for any delivery status of all the projects I have helped with my advice. I understand if you see all these projects and there isnt the level of success you want to see. After all if it was all finished and a big success I wouldnt have to be working these 14 hour days 28 days a month, continuously. However, the perception that I never finish everything is not correct. The perception that I do dozens of ICOs and just spend all the money and ask for more, is not correct. I have done exactly one ICO outside of the NXT assets, and that is SuperNET. Its charter for use of funds is primarily to make investments and I have been funding operations from the profits, while growing the NAV from a low of .002 to its current .006 level. If you can name any other ICO I conducted where funds were raised and I havent delivered anything, I am curious to know what it is. As you can see I am not limited in the number of ideas, nor do I feel their quality is low. What I need is more resources. I had hoped to get at least half a dozen volunteers to work on the core C projects, but alas, there were none. With komodo there is the possibility of creating not only the first dPoW implementation, but also to fund all of the pending projects that are in slow motion due to my only having 16 hours per day to work and I am slacking off this year by working only 14 hours per day. James I just wonder how much money you have raised from so many projects? People's pockets are finished, you earned big but those coins/assets are dead. Also, this komodo will be the same result, delist from exchange, never trading higher than ico price. Did you even read my response? Most of the assets are either MGW assets that are issued when the corresponding crypto is deposited, or were given out for free in a sharedrop. Now since you think I make so much money, please tell me how I make money from MGW assets or doing sharedrops. SuperNET is the only ICO I have done prior to KMD. There were some private placements done for InstantDEX and NXTcoinsco. The total I have raised from all the NXT assets is around 5 million NXT, worth approx couple hundred BTC. Just the JLH asset has a value in excess of the total raised with its 200 siafunds. I gave away a lot of JLH and didnt gain much from selling it and I added various other assets along the way. Maybe you confuse what other people sold my assets for on the open market after they received it as a sharedrop. Now please tell me how much I get when somebody who gets a sharedrop for free sells it to someone else. As far as what NXT has done to itself, that has happened in spite of my big complainings about it. It is certainly not my responsibility that NXT decided to boost txfees for permanent tx 10-fold and to split the coin into two or three and not allow assets to be based on the new coin. To protect people with my assets, I am making assetchains. Total I have raised for assetchains? zero. Maybe you want to use facts to support your position that I have conducted so many ICO? Then again, if you used the facts, you wouldnt be able to claim that, so I guess it makes sense that you just make stuff up. |
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I was able to repurpose the notary tx creation almost entirely and now we have a dpow ratified API call! curl --url " http://127.0.0.1:7776" --data "{\"agent\":\"dpow\",\"method\":\"ratify\",\"minsigs\":2,\"timestamp\":1476711523,\"ratified\":[{\"handle\":\"testA\",\"pubkey\":\"03b7621b44118017a16043f19b30cc8a4cfe068ac4e42417bae16ba460c80f3828\"}, {\"handle\":\"testB\",\"pubkey\":\"02ebfc784a4ba768aad88d44d1045d240d47b26e248cafaf1c5169a42d7a61d344\"}]}" With the above curl issued on two nodes, it automatically generated the following pair of transactions: http://148.251.57.148:3001/tx/9e87060002b83a292a124576059df6ab06744ccea2905bd34d96fed9e4a92684https://blockr.io/tx/info/4e70f6bd8da799062c71790f3f0bd5d6bc72aa9d0faf078020da8e4cb5f73943The convention is that the crypto777 address is the initial address and each ratified pubkey gets an output. This way, only the crypto777 address needs to be monitored to update the state for active notaries and notarized height. Now the iguana notary dapp has been enhanced to be able to issue election ratification tx, I think it pretty much goes into maintenance mode. Next up are the half dozen komodod items |
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nother ico of a nxt related project / Coin / Asset ?
GET EM!
lol
Absolutely nothing to do with NXT. It is about bitcoin and zcash |
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The 5 notary transactions worked smoothly, so I increased it to 7 and we are generating a steady stream of those: https://blockchain.info/address/1P3rU1Nk1pmc2BiWC8dEy9bZa1ZbMp5jfgthe full BTC blocks are making them unconfirmed for quite a while. I will have to calibrate the txfee a bit higher to get us more regular confirmations |
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We have job openings for fulltime positions.
Our needs are greatest for project management and GUI devs. However, we can also use testers for command line API, windows build specialists and of course C devs.
If you feel you can be a key contributor, please contact @KomodoPlatform
We will be able to pay in BTC and/or KMD. Positions would start at the end of the ICO. The total positions available will depend on the total amount raised.
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Retooled the notary tx statemachine to go from doing a BTC tx and independently a KMD tx with the BTC txid, to making a pair of tx using the same nodes for both.
also cleaned up the code to be more modular and extensible in case new features need to be added.
no crashes with the last version, so it is running stable.
reduced the packet traffic required, also added special handling for different nodes starting at slightly different times.
probably still a few issues left but should have a good chance of getting consistent notary tx on both chains. That is the next functionality level that needs to be achieved as then I can switch from the iguana notary dapp to komodod using the dapp data.
the iguana codebase is quite handy for creating crypto based dapp's as it has all the bitcoin protocol, in addition to a variety of networking, all written from scratch. which means if it doesnt quite do what it needs to do, I can customize it as needed.
I separated out the notary tx dapp into a special standalone iguana, it uses a different port and morphs it functionality to just do what the notary nodes need done, ie. automatically create right size utxo, run a multiparty notary tx creation protocol for a source chain -> dest chain. The txid of the dest chain is added to the source chain tx and it has all the same signers, so all nodes in the source chain wont even have to query the dest chain (they can if they want, but not required to).
I made it so that the iguana notary dapp can be used for KMD -> BTC and the same dapp can also be used for OTHERCHAIN -> KMD. This means without any additional work, assetchains (and any other chain) can create notarized tx, but instead of having to pay bitcoin txfess, only KMD txfees are needed
by minimizing the code that has to go inside komodod, it minimizes the chances of introducing bugs. Since the notary tx is used if and only if it is there, it made sense to encapsulate it into a separate dapp.
Next up is creating the special tx for election results, since it is closest in mental distance to the notary tx dapp. I want to keep the election process open to change, but we need to lock down how to ratify election results. This way, as a community we can adopt sane election process, but regardless of the process there will be consensus on how it is recorded.
I dont expect it to be happening all the time, but only during times of big changes. So maybe just a way for each notary to submit a command to the iguana notary dapp that their node ratifies a specific election result. In the event a majority of notary nodes (or one third + devteam) approves, it goes into the blockchain as a valid result.
Once this is done, then we flip to the komodo side which has to use the data generated to update the current state which is the list of official notaries and the notarized height. What makes it a bit tricky is that each height could potentially have a different list of official notaries and blocks can come in any order. I think I will limit the change of notaries to a 1000 multiple height. That will allow a much more compact indexed data structure to be used.
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can i send bitcoins to my dedicated address from exchange directly?
yes. also ico deposit page is shapeshift enabled, so any shapeshift supported coin from anywhere can also be used. each account gets a dedicated BTC deposit address. all BTC sent to that address will credit your account. shapeshift is setup to convert and send the BTC to that address |
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Has a date been given yet for the BTCD blockchain snapshot?
No exact date/time, but it will be some specific BTCD block (announced later). It will happen after the ICO, but before the swapping begins. Thanks - plenty of time then. Final question, will the revenue share assets be fully tradable? Sorry for not being more up to date. yes, REVS will be its own chain and as such will be able to use the DEX protocol to be traded. Also, some exchanges might decide to list REVS and other assetchains. Before we can get all the assetchains running, ICO must complete, snapshot done, KMD mainnet active and all the notary nodes need to be elected and running. So it will be at the end of the process. |
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For those who worry about GUI status, keep in mind that dPoW will be fully functional without any GUI at all. While it would be cool to get color coded block explorers that show notarized status, the dPoW protection will be in effect even without any GUI.
Other than that, there really isnt much GUI required for dPoW.
All of the notary node side operations are fully automated once a node is setup, with the exception of funding the BTC needed for txfees.
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https://blockr.io/tx/info/5cce565993c932de9c62f3ba402c7e7790aa8aef3361f3a99cb2e4d6b4725cc9The above is the first 5 way signed notary tx. I decided to totally change the low level transport, which ended up requiring changing one third of the dPoW code. Now instead of using a NOTARY virtual coin, I use a nanomsg bus topology. A bit too tired to write lots of details now, but with the new bus topology, just need to verify that it can handle up to 33 signers. I coded up a duplicate filter, but it ended up filtering out too much. So the duplicate filter is disabled for now. However, the notary servers have plenty of bandwidth so even without a duplicate filter, I dont think there will be a problem. Still, I like things to be efficient, so I will likely improve it a bit more.
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Hey Komodo team, I have seen JL777 in Byteball thread and would like to ask, what do you guys plan to do with Byteballs. ICO account of KOMODO will surely get some nice chunk of Byteball. Is there any chance that you would distribute BYTE to ICO participants? It would be win win situation as some people might not invest in ICO because of BYTE distribution.
No promises, but if the max is raised, then it is much more likely to happen. My thinking is that if not enough is raised, then we would need extra income. But in the max raise scenario, it wont be needed. Also, timeframe would need to be as a background priority and it cant take away from komodo development |
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"blocks" : 23581, "connections" : 35, "difficulty" : 2.23659430, KMD testnet keeps chugging along and we now have almost a dozen active testnet notary nodes. We are doing daily deployments. Today, we got 3 and 4 node group tx to work: https://blockchain.info/tx/7b5a864df608ee39208efa9bebc2d62896fdbaf4d83e1bf7d0ae99e37b433aa4and latest version is testing a 5 way notarized transaction. We wont have to increment it one at a time to 33, soon I should be able to just set it to N/2 + 1. There have been many bugs I fixed over the last days and now it appears to be working fairly smoothly. I added notary packet versioning so non-updated notaries dont mess up the protocol. Dramatically reduced redundant packet transmissions and the notary network is pubkey based, so there is a layer privacy as far as the IP address goes. However it is not anything that can be relied on as it is at the mixin level, but it is better than nothing. Along the way, the notary tx to KMD chain seems to have stopped being consistent, so I need to fix that next. So steady progress. Not quite stable enough, but considering it just came online in its initial form a few days ago, things are coming together timely. I will now split time between improving the notarization process and the remaining loose ends. |
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The definition of a " Money Transmitting Business " is a subset of a Money Services Business which Wikipedia defines as An MSB has specific meanings in different jurisdictions, but generally includes any business that transmits money or representatives of money, provides foreign currency exchange such as Bureau de changes, or cashes cheques or other money related instruments. It is often used in the context of Anti Money Laundering (AML) legislation and rules.[1][2] The beauty ( and bane) of cryptocurrency is that the IRS and several other cases have ruled crypto as Property and not money. I'm no lawyer but if its consider property then nodes are not considered money transmitting businesses and do not need FINCEN registration. If you are concerned, it would be best to check with a business lawyer preferably one that deals with cryptocurrency. Regarding Mining/Staking and similar: I can't speak for everywhere but the IRS guidance for cryptocurrency mining is that it is considered income. quickly reading the PDF: ### "A user who obtains convertible virtual currency and uses it to purchase real or virtual goods or services is not an MSB under FinCEN’s regulations" "an administrator or exchanger is an MSB under FinCEN’s regulations, specifically, a money transmitter, unless a limitation to or exemption from the definition applies to the person." "An administrator is a person engaged as a business in issuing (putting into circulation) a virtual currency, and who has the authority to redeem (to withdraw from circulation) such virtual currency" ### I am not a lawyer(!) but my understanding of this is that a notary node (or anybody that is mining) is putting into circulation a virtual currency but there is no redeem powers as the KMD that is mined cannot be destroyed. Clever lawyers might try to argue that anybody can burn by sending to a null pubkey, but it is not actually destroyed, just very unlikely to be able to be spent. Also, any such "authority" would be something all users would have and as such is not fitting the context of an administrator. After all, how can everybody be an administrator? It would be nice if someone with legal experience in this can confirm that mining crypto does not make an administrator. It seems to apply more to gateways. In more good news the DEX I think fits into the end user category as each DEX swap is an end user paying crypto in exchange for crypto. From what I can tell, it is the providing of services to third parties that is what is being regulated. Direct peer to peer commerce does not seem to be covered by this, but again this is not any legal opinion, just my reading of the PDF above afaik the guy who's looked into this issue the most is anonymint/TPTB/iamnotback, his two threads below are required reading if you want to learn more about crypto regulation and legal issues. He's not a lawyer, but getting his opinion on the legal status of notary nodes would be very useful. Topic: The altcoin topic everyone wants to sweep under the rug (Read 15182 times)Topic: Which crypto-coins are "investment securities"? Implications? (Read 4427 times)Peter Van Valkenburgh is a lawyer with a Washington based non-profit crypto policy think tank, Coin Center. This talk is a good introduction to crypto regulation. Reaching out to these guys might yield some good advice too. Devcon2: Regulatory Considerations for Dapp Developmenthttps://coincenter.org/entry/framework-for-securities-regulation-of-cryptocurrenciesIMO KMD has features that are part virtual currency (FINCEN) and part security (SEC), so understanding both regulatory frameworks is important. Obviously it's too early to be definitive, and many in the cryptosphere obviously haven't considered these issues, or consciously ignore them, but I think it's good to know the rules even if you decide to break them. Also, as mentioned by Peter Van Valkenburgh in the Devcon talk, being a non american does not save you from USA law if USA citizens buy your token. disclaimer: I am running in the notary node election So the conflict is the Side Chains or branches that can be created? I thought that was a part of the service of the coin. Those are created with denominations of KMD right? It is still KMD and wouldn't allow the Notary Node to participate in a Fiat transaction. The Atomic Cross Chain Transfers are a possible issue but this is confined to the KMD blockchain also. It is written as an arrangement on KMD to X Coin and KMD goes to another recipient within KMD for X Coin and the Notary Node doesn't benefit from the transfer other than to do its job of writing the transactions and securing them. What is the catch here that I am missing? DEX atomic swaps are native wallet to wallet. Also the assetchains are not directly related to KMD, other than they issue KMD transactions, which I dont think entangles the KMD. KMD is just available to do transactions and since KMD is protected by dPoW, so are all KMD transactions notary nodes are not involved in either blockchain and KMD is only involved if it is one of the coins being swapped. I have designed a system of cooperating parts. So while they work together, the system as a whole is immune from a DAO-doa type of scenario. Any damage would be limited to a specific assetchain that goes bad. as far as what the conflict is, I dont know. That is up to the lawyers to figure out. |
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whether it is in the plan any social marketing bounty program?
thanks
No, only the signature campaign, but the payrate is also low, jl777 has raised many thousands of bitcoin from previous many ico, so he is still greedy and mean, what a shame.  For investors ;Dit should be a good sign, as we want to use the funds conservatively and not just throw away money just because we have it. Our team decided that a social media campaign is not an effective way to use the funds, and jl777 had nothing to do with that decision. Our team is quite decentralized/horizontal, where the areas of responsibility are divided for multiple people and teams. jl777 is responsible for the development decisions and the overall roadmap, but not about the Komodo ICO campaign, websites, GUIs, etc. Best regards, Does he have the most part of shares in kmd project? Who? jl777? Not really, because out of the 100 000 000 KMD coins - 90 000 000 KMD is distributed in the ICO - 10 000 000 KMD is reserved for development, advisers and bounties So majority of the coins is sold during the ICO. No, you misunderstood me, I mean how many of bitcoin fund of ico he will share?  Funds are reserved for komodo operating costs. I wont be taking any salary I expect to make money from my investment stakes |
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