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1  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN][MNZ][B2B] Monaize - Banking Meets Blockchain on: October 02, 2017, 09:25:28 PM
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2  Bitcoin / Bitcoin Discussion / Why Komodo Group-Signed Transactions are Not Spam on: February 28, 2017, 08:25:53 AM
Why Komodo Group-Signed Transactions Are Not Spam



There are several in here that accuse the Komodo notary nodes in their group-signed transaction of contributing to the delays on the Bitcoin Network.  This is not the case.  First, our transactions count for well less than 1% of the current backlog. In addition they are a part of a necessary function in the SuperNET ecosystem aimed at enhancing the bitcoin networks scalability.


Everyone has heard of the block size debate and its proposed solutions.  Whether you are a proponent of SegWit + LN or BigBlocks or some other method in-between, most all can agree something needs done.   Komodo aims at tackling current and future need for storing data on a secure distributed ledger  through its scalability mechanism  known as " Delayed Proof-of-Work ".

Delayed Proof-of-Work  works by receiving submissions from third-party blockchains and recording their hashes into a Komodo Block.   The blockhash of that block  is then submitted in a group-signed transaction to Bitcoin's Network through a group of elected node operators.   This signed transaction forms a "checkpoint"  where if at a future time either a third-party blockchain or Komodo itself  becomes threatened by a malicious actor or a fork divides the community, this checkpoint system gives the operators of the respective networks a " last known good" block hash  from which they can start efforts of fixing their network. 


The Delayed Proof-of-Work system  is already securing more than 36 blockchains!!!   


For an attacker to totally compromise Komodo or the independent block chains that it secures  it would have to undermine bitcoin's security,  which is an extremely difficult if not impossible feat.



Delayed Proof-of-Work acts as a scalability mechanism  in the sense that developers can develop blockchain based projects, in full control of their own blockchain without being restricted by the technical and political limitations of bitcoin or other parent network   while at the same time  benefit from the security granted by the incredible amount of hashing power that is used to secure bitcoin.


To learn more about how the Delayed Proof-of-Work consensus mechanism works

https://komodoplatform.com/whitepaper/

or to find out how more about Komodo and SuperNET's  cutting edge crypto developments
https://bitcointalk.org/index.php?topic=1605144.6560
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