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Author Topic: [ANN][KMD][dPoW] Komodo - Zcash Zero Knowledge Privacy Secured by Bitcoin  (Read 1088217 times)
Mokuton
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October 10, 2016, 02:16:41 AM
 #1161

Announcement! Komodo welcomes pre-ICO angel investors!

We will accept investments from angel investors before the ICO starts.

PreICO Angel Investors Terms:

Investments >250 BTC will receive 30% bonus instead of 25%.
Investments >500 BTC will receive 35% bonus instead of 25%.

The Offer will end right when the ICO starts on October 15th.
The total amount that can be raised with those terms is 5000 BTC.

Contact TwinWinNerD to take advantage of this deal, it is a manual process.

Best regards,
Komodo Team

WOW, this is beneficial to whales actually.

You are going to scare away a lot of small investors. Very few investors are going to invest 250 BTC with anonymous Team

This is exactly what we have taken a stand against. Greed.





lol everyone in crypto is greedy, don't be silly.

I for one welcome pre ICO whales, the bigger the investors the better the potential rollercoaster will be Smiley


But you got to admit the max greed on this one. dev gets ICO plus 10% of the supply, plus whoever bought into his unfinished projects in the past. You all just a bunch of sheeps in a grand scheme of things lol don't be blinded
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Rkana
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October 10, 2016, 02:16:59 AM
 #1162

Announcement! Komodo welcomes pre-ICO angel investors!

We will accept investments from angel investors before the ICO starts.

PreICO Angel Investors Terms:

Investments >250 BTC will receive 30% bonus instead of 25%.
Investments >500 BTC will receive 35% bonus instead of 25%.

The Offer will end right when the ICO starts on October 15th.
The total amount that can be raised with those terms is 5000 BTC.

Contact TwinWinNerD to take advantage of this deal, it is a manual process.

Best regards,
Komodo Team
With this announcement, I think I will pass Komodo ICO and just mine ZCash. What is the rush to get 5000BTC up front?
Good luck with your project.

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October 10, 2016, 04:19:14 AM
 #1163

Announcement! Komodo welcomes pre-ICO angel investors!

We will accept investments from angel investors before the ICO starts.

PreICO Angel Investors Terms:

Investments >250 BTC will receive 30% bonus instead of 25%.
Investments >500 BTC will receive 35% bonus instead of 25%.

The Offer will end right when the ICO starts on October 15th.
The total amount that can be raised with those terms is 5000 BTC.

Contact TwinWinNerD to take advantage of this deal, it is a manual process.

Best regards,
Komodo Team

Whilst I don't really like these sort of things it's important to note that people using BTCD to 'buy-in' to the ico will benefit from this as they get the averaged ico bonus which would include these higher %'s.
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October 10, 2016, 04:43:48 AM
 #1164

I am sitting this one out. I am sure the ICO will go just fine. It would have been ideal if there were just a swap of BTCD and allow Notary Nodes to start mining blocks with dPoW. Then the Notary Nodes get paid by selling their coins or they keep them and speculate. Now would be the time to rethink using an ICO. The swap of BTCD would make the value the same to start or cause buying in the market right now raising the price, and at that point if you want 200M coins you raise the Block reward. I just don't see why KMD needs so many coins. Since the devs need payment, instead of an ICO just have a premine for the 10%.  Then miners have incentive to mine the rest and support the network and the original BTCD holders don't get diluted initially 1.2M to 100M-200M even with the 25% it makes them a fraction of the new network. Transactions would have tx's fees to pay the BTC fees etc.

Please read the post that james wrote on why the ICO fundraiser is neccessary. If it was that easy it would have been done.

What happens if no one sends BitCoin in for the ICO? What is the minimum to start the coin?
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October 10, 2016, 04:55:34 AM
 #1165

Did the dev team ever consider using Zcoin over Zcash?
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October 10, 2016, 07:03:12 AM
 #1166

Did the dev team ever consider using Zcoin over Zcash?
you must be kidding.

why would we choose an obsolete 3 year old libzerocoin implementation that has significant bloat issues?

it would be like choosing an Intel 8080 CPU over Xeon

so no, never considered zcoin

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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October 10, 2016, 07:04:08 AM
 #1167

I am sitting this one out. I am sure the ICO will go just fine. It would have been ideal if there were just a swap of BTCD and allow Notary Nodes to start mining blocks with dPoW. Then the Notary Nodes get paid by selling their coins or they keep them and speculate. Now would be the time to rethink using an ICO. The swap of BTCD would make the value the same to start or cause buying in the market right now raising the price, and at that point if you want 200M coins you raise the Block reward. I just don't see why KMD needs so many coins. Since the devs need payment, instead of an ICO just have a premine for the 10%.  Then miners have incentive to mine the rest and support the network and the original BTCD holders don't get diluted initially 1.2M to 100M-200M even with the 25% it makes them a fraction of the new network. Transactions would have tx's fees to pay the BTC fees etc.

Please read the post that james wrote on why the ICO fundraiser is neccessary. If it was that easy it would have been done.

What happens if no one sends BitCoin in for the ICO? What is the minimum to start the coin?
Angel investors appear to have provided enough for the minimum already, so no worries on this

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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October 10, 2016, 07:13:44 AM
 #1168

Announcement! Komodo welcomes pre-ICO angel investors!

We will accept investments from angel investors before the ICO starts.

PreICO Angel Investors Terms:

Investments >250 BTC will receive 30% bonus instead of 25%.
Investments >500 BTC will receive 35% bonus instead of 25%.

The Offer will end right when the ICO starts on October 15th.
The total amount that can be raised with those terms is 5000 BTC.

Contact TwinWinNerD to take advantage of this deal, it is a manual process.

Best regards,
Komodo Team
With this announcement, I think I will pass Komodo ICO and just mine ZCash. What is the rush to get 5000BTC up front?
Good luck with your project.
I dont know why everybody assumes that the max specified amount is anything other than the maximum.

We had to pick some limit to prevent whales from buying up the entire ICO, 16% does not seem like an unreasonable maximum, especially since the actual amount coming in will likely be a lot less. it cannot be more, it will most likely be a lot less.

there is no rush for 5000btc. angel investors proactively approached us and made a reasonable request to get a slightly bigger bonus. we accomodated and made the identical offer available to everybody else.

if you criticize us for working with investors to secure funds, then maybe the fact that we are conducting an ICO to raise funds has been overlooked? is the criticism that we should have rejected the funds?

If you criticize us for offering the same deal to everyone, instead of keeping it secret and/or closed to public like most other projects, does that mean you prefer that we keep secrets about this or dont offer it globally?


http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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October 10, 2016, 07:25:45 AM
 #1169

Looks like an interesting coin. Wondering if I should join the campaign. But I'm a little iffy over the fact that it needs Bitcoins to work. I know it will be a while, but what happens once thouse Bitcoins run out?
At 25 cents per KMD the mined amount will cover the costs of the notary nodes, so the subsidy is not expected to last forever.

The BTC txfee costs will be less than the costs for the notary nodes.

I want to have at least a 10 year buffer, so for all that are complaining that we are raising funds or it is some sort of greed, they need to realize that it costs BTC to pay continuous BTC fees and to have many high end servers.

Once it is in place, it becomes a barrier to entry. Granted anybody else could fork the code, but still the entire notary nodes have to be reproduced and the BTC for txfees would be needed. Also, once KMD is live, people can just use KMD and obtain the benefits of being secured by BTC (indirectly) at a fraction of the cost.

Each user of KMD will create demand for KMD, usually on a continuous basis, and that will provide a base of demand. We will be migrating the various NXT assets to assetchains, which will use dPoW so there will be some reference cases available. By using KMD to secure the assetchains, for a minimal cost, each asset will obtain BTC level security for its transactions and not be a derivative crypto at the mercy of some master chain. the txfees for users would be denominated in that asset and the asset issuer would just need to purchase enough KMD to pay for the service.

Beyond assetchains, there will be smart chains which are special purpose blockchains that implement a dapp. think of it like an ASIC that does one thing and only one thing, vs a CPU that is running and OS and doing many things at once. We expect this to be a very popular way to utilize blockchain tech and the isolation it provides combined with efficiency that is further secured by dPoW will hopefully make a good demand for KMD.

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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October 10, 2016, 09:59:16 AM
 #1170

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon

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October 10, 2016, 10:00:06 AM
 #1171

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon
you have it wrong

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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October 10, 2016, 10:02:20 AM
 #1172

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon
1) BTCD isnt mined, it gets 5% APR via staking

2) the mining by notary nodes is designed to pay for the costs of running the notary node.

With KMD, the plan is to payout accrued interest (max weekly) whenever you spend an output. So the 5% from 1) is achieved without any need for staking.

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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October 10, 2016, 10:14:15 AM
 #1173

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon
1) BTCD isnt mined, it gets 5% APR via staking

2) the mining by notary nodes is designed to pay for the costs of running the notary node.

With KMD, the plan is to payout accrued interest (max weekly) whenever you spend an output. So the 5% from 1) is achieved without any need for staking.

OK so I get my 5% APR only when i spend it, I can't stake it? sorry if I seem stupid but i confuse staking and mining

Cheers Jon Embarrassed

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October 10, 2016, 10:20:39 AM
 #1174

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon
1) BTCD isnt mined, it gets 5% APR via staking

2) the mining by notary nodes is designed to pay for the costs of running the notary node.

With KMD, the plan is to payout accrued interest (max weekly) whenever you spend an output. So the 5% from 1) is achieved without any need for staking.

OK so I get my 5% APR only when i spend it, I can't stake it? sorry if I seem stupid but i confuse staking and mining

Cheers Jon Embarrassed
KMD doesnt have staking built in and utxo based staking adds a lot of blockchain bloat, NXT based staking adds a lot of extra work and both increase chance of bugs.

my opinion is that spend based accrued interest payments is the lowest footprint method to reward the 5% APR and ultimately I think that is what people care about, ie. getting their 5%

you are earning the 5% automatically, all the time.

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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October 10, 2016, 11:14:28 AM
 #1175

Did the dev team ever consider using Zcoin over Zcash?
you must be kidding.

why would we choose an obsolete 3 year old libzerocoin implementation that has significant bloat issues?

it would be like choosing an Intel 8080 CPU over Xeon

so no, never considered zcoin

I was thinking more of how parameter generation happens in both, I just read this comparison,

http://blog.zcoin.tech/zcoin-and-zcash/
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October 10, 2016, 11:22:31 AM
 #1176

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon
1) BTCD isnt mined, it gets 5% APR via staking

2) the mining by notary nodes is designed to pay for the costs of running the notary node.

With KMD, the plan is to payout accrued interest (max weekly) whenever you spend an output. So the 5% from 1) is achieved without any need for staking.

OK so I get my 5% APR only when i spend it, I can't stake it? sorry if I seem stupid but i confuse staking and mining

Cheers Jon Embarrassed
KMD doesnt have staking built in and utxo based staking adds a lot of blockchain bloat, NXT based staking adds a lot of extra work and both increase chance of bugs.

my opinion is that spend based accrued interest payments is the lowest footprint method to reward the 5% APR and ultimately I think that is what people care about, ie. getting their 5%

you are earning the 5% automatically, all the time.

Does this mean that I can't accrue the 5% APR and end up with more? I only get my 5% APR when I spend them(coins that I own in local wallet)?

Cheers Jon  Huh

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October 10, 2016, 11:35:42 AM
 #1177

Komodo Dev Blog: Notarized Data is Written to BTC Blockchain.






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October 10, 2016, 11:41:42 AM
 #1178

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon
1) BTCD isnt mined, it gets 5% APR via staking

2) the mining by notary nodes is designed to pay for the costs of running the notary node.

With KMD, the plan is to payout accrued interest (max weekly) whenever you spend an output. So the 5% from 1) is achieved without any need for staking.

OK so I get my 5% APR only when i spend it, I can't stake it? sorry if I seem stupid but i confuse staking and mining

Cheers Jon Embarrassed
KMD doesnt have staking built in and utxo based staking adds a lot of blockchain bloat, NXT based staking adds a lot of extra work and both increase chance of bugs.

my opinion is that spend based accrued interest payments is the lowest footprint method to reward the 5% APR and ultimately I think that is what people care about, ie. getting their 5%

you are earning the 5% automatically, all the time.

Does this mean that I can't accrue the 5% APR and end up with more? I only get my 5% APR when I spend them(coins that I own in local wallet)?

Cheers Jon  Huh
send it to yourself if you want to

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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October 10, 2016, 11:47:50 AM
 #1179

Did the dev team ever consider using Zcoin over Zcash?
you must be kidding.

why would we choose an obsolete 3 year old libzerocoin implementation that has significant bloat issues?

it would be like choosing an Intel 8080 CPU over Xeon

so no, never considered zcoin

I was thinking more of how parameter generation happens in both, I just read this comparison,

http://blog.zcoin.tech/zcoin-and-zcash/
You mean "Zcoin uses parameters generated 25 years ago from the RSA Factoring Challenge." those "secure" parameters??

If you would rather trust parameters generated by a single entity that has been caught putting backdoors into encryption, then that is your choice. Keep in mind that if anybody in the 25 years has gotten a hold of the RSA factoring parameters, it is compromised. What assurance is there that it hasnt been compromised?

As opposed to zcash which will use a carefully thought out parallel oblivious transfer method with a peer reviewed research paper where all participants need to be compromised.

We might as well compare zcash to ring signatures.

There is a lot of FUD against zcash parameters, but nobody has described to me how all the zcash parameter creation participants will be fooled into running the mystery laptop gift that just arrived in the mail. Or that they can all be bought. Or all their systems can be compromised.

It is not that any one of them can be compromised to compromise the parameters. ALL participants need to be compromised.

Please dont fall for the marketing tactics of a coin that intentionally changed their name to be confused with zcash. If they had good tech, then why this intentional creation of confusion? Unfortunately a lot of people will probably think zcoin is zcash, but please dont be one of them. zcoin is bragging that "their" libzerocoin has been around for 3 years vs. zcash 1 year. Of course they dont make it clear that libzerocoin was written by the zcash team and REJECTED as not ready for end users and they created zcash to solve these problems.

Its like rummaging in the trash and finding someone's used computer and then saying "your" used computer is as good as the brand new one that replaced it. since the new one hasnt been around as long.

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October 10, 2016, 11:54:24 AM
 #1180

Did the dev team ever consider using Zcoin over Zcash?
you must be kidding.

why would we choose an obsolete 3 year old libzerocoin implementation that has significant bloat issues?

it would be like choosing an Intel 8080 CPU over Xeon

so no, never considered zcoin

I was thinking more of how parameter generation happens in both, I just read this comparison,

http://blog.zcoin.tech/zcoin-and-zcash/
You mean "Zcoin uses parameters generated 25 years ago from the RSA Factoring Challenge." those "secure" parameters??

If you would rather trust parameters generated by a single entity that has been caught putting backdoors into encryption, then that is your choice. Keep in mind that if anybody in the 25 years has gotten a hold of the RSA factoring parameters, it is compromised. What assurance is there that it hasnt been compromised?

As opposed to zcash which will use a carefully thought out parallel oblivious transfer method with a peer reviewed research paper where all participants need to be compromised.

We might as well compare zcash to ring signatures.

There is a lot of FUD against zcash parameters, but nobody has described to me how all the zcash parameter creation participants will be fooled into running the mystery laptop gift that just arrived in the mail. Or that they can all be bought. Or all their systems can be compromised.

It is not that any one of them can be compromised to compromise the parameters. ALL participants need to be compromised.

Good points, I'm still trying to get my mind around things. Which organisation created the Zcoin parameters 25 years ago? That is the key 'trust' point in Zcoin
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