[ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B

[alevlaslo]

I made a video about how to use the option of cold storage, in which your passwords never get on the network machine

https://youtu.be/UKKyWiTn16A

[alevlaslo]

One private key per SEED and the absence of a list of rich addresses in the block explorer - this is an additional security from Komodo. Yesterday was hacked rich EOS coin address of Bithumb, it became possible because the addresses there are short, only 12 characters and rich laid out in the public

[oblox]

One private key per SEED and the absence of a list of rich addresses in the block explorer - this is an additional security from Komodo. Yesterday was hacked rich EOS coin address of Bithumb, it became possible because the addresses there are short, only 12 characters and rich laid out in the public

In case you want to see the KMD richlist: https://www.dexstats.info/richlist.php?asset=KMD

[coin_1122]

During months of bull market late of 2017 and early of 2018, KOMODO has still maintain its position in crypto world very well.
Its price has fallen, I known it, but its position has still been in top of CMC.
KOMODO has stood in the range between top 50 and top 60 for recent months.
https://coinmarketcap.com/currencies/komodo/

It is because they are actively developing the platform and giving a good updates to their community on the time. Even the major important thing is they are very actively providing the development which makes the community to believe on this coin with more confidence.

[alevlaslo]

One private key per SEED and the absence of a list of rich addresses in the block explorer - this is an additional security from Komodo. Yesterday was hacked rich EOS coin address of Bithumb, it became possible because the addresses there are short, only 12 characters and rich laid out in the public

In case you want to see the KMD richlist: https://www.dexstats.info/richlist.php?asset=KMD

in vain it is made

[Adam D Levine]

I don't see many new candidates so far, bear market NN rewards aren't that great now. You should just run your own node trump, not much competition so candidates don't need you

Next year I will try and find a permanent tech partner and we will run two NN every year thereafter and split the rewards 50:50.

Why not run this year?

I agree notaries will be run as companies when the profits get massive in 2-3 years

[ptytrader]

Notary Node Manifesto - ChainZilla 2019

CLICK BELOW

[boomboom]

I believe many NN will bootstrap businesses that form the backbone of the whole komodo ecosystem and are able to interact with other crypto and non-crypto entities legally.

I agree, jl777 being anonymous means komodo needs more public people to help spread adoption, image if a komodo equivalent of Andreas Antonopolous got funded from running a NN, all the marketing probs solved

This will be my last post here, I've got nothing more to say, good luck to everyone!

Good decision trump, time for the community to focus on the election

[alevlaslo]

On the Hitbtc the most profitable exchange for Komodo, enrollment for 7 minutes, on the other two hours have to wait, on the Bittrex half an hour. But only DOGE whithdrawal need, or a large Commission for everything, even the Komodo 4 bucks   

[Brock Landers]

Komodo needs to attract as much talent and resources into the ecosystem as possible, and NN returns can help do that.

Unfortunately, a lot of smaller investors won't bother voting at all, and of the ones that do vote, many won't necessarily be following closely enough to make informed decisions about tech competence of candidates, and/or won't have the tech knowledge and understanding to judge tech competency anyway other than looking at notary stats of the bottom 30 performers from the previous year.

I think selecting NN is more than just picking the guys with the best stats, as I believe many NN will bootstrap businesses that form the backbone of the whole komodo ecosystem and are able to interact with other crypto and non-crypto entities legally.

As the top30 don't get elected tech competence is already being rewarded, so the community has to choose candidates from these basic categories in each election:

1- existing NN who have one or more NN in the top30 running again in more regions
2- existing NN running again, who don't have any nodes in the top30
3- new candidates who are known in the community, and have some reputation
4- new candidates who are unknown, and have no reputation

If we all agree that it is good to attract new talent into the ecosystem in these early elections then we want to assist candidates from 3-, and particularly 4- above.

But how do those new entrants compete with candidates from 1- & 2- if they don't have enough KMD/VOTE to elect themselves?

How can the community judge the tech competence of new entrants with no reputation?

Crypto time is sped up, so businesses like Binance, Bitmain and Coinbase grew from nothing to billion $ valuations in 1-3 years. Poloniex went from nothing in 2014 to exit sale of 400M USD in under 3 years. This is where Komodo NN businesses are heading IMO, I am super bullish!

So, I believe NN rewards will help fund entities that grow into massive companies rivaling some of the biggest crypto unicorns we see today, and I would prefer there to be 20-30 companies formed off NN rewards rather than 3-5 'too big to fail' monoliths.

When monthly NN rewards are consistently x10 what a top tier sys admin could earn elsewhere I don't think KMD holders will be electing guys from the community on reputation and tech competence alone, I don't think an early adopter guy running 2-3 NN's solo is going to get elected for years and earn +50K USD per month on the promise of offering bounties and donations, that is unrealistic.

NN rewards are a good wage today, but when KMD marketcap hits 2-3 billion USD, do the numbers, NN rewards will be revenue streams for businesses, and some will use that funding to develop new crypto business models that we can't even imagine today.

So, while I think most would agree it's better for the ecosystem to have lots of teams bootstrapping businesses off of NN rewards, I think it's clear that early adopters have a HUGE advantage over new entrants, and afaik there isn't anything stopping existing NN running every year and securing more and more NN publicly, or privately using surrogates & sockpuppet candidates. Look at the current candidates this year, who is running in more regions, who are running as individuals, and who are forming into businesses.

In 2017 I expected the NN selection process would take 5 years to mature whereby the quality and quantity of candidates reached a critical mass for businesses to start sprouting, but IMO 2018 changed that. Despite the bear market komodo development accelerated to such an extent last year that I think this election is the last when a talented unknown dev without capital to elect themselves can gain a NN relatively easily, next year successful candidates will be existing notaries, OR, other crypto business entities, OR, other groups who have made private arrangements with large holders. If the bear market is indeed ending, NN rewards will be much larger next year, and that will attract a lot of attention!

Last year I made about 2k additional KMD/VOTE from revenue sharing from multiple NN I voted for, but I make ~400 KMD PER DAY from my 5% reward - so my revenue sharing was equivalent to 5 days of KMD rewards - does anyone really think my argument is based on trying to justify leaching a few extra $ from NN operators? I've been accumulating BTCD and now KMD for nearly 5 years, and haven't sold a coin, why?

Because I value my proportion of VOTE very highly as it guarantees revenue streams from 1-3 NN in perpetuity, and I intend to use that revenue stream to bootstrap a komodo unicorn business with other like-minded people. I'm here for the long term, and it's worth preserving KMD/VOTE in these early years so I can contribute a stable long term revenue source from 2-3 NN to create a business, and I want to see as much talent enter the komodo ecosystem as possible.

As strange as it sounds, I am trying to encourage new unknown talent into the community by pointing out the advantage of winning a NN this year while they can, even if that means sharing revenue with voters, while they have the chance.

When voters look at an unknown candidate they might ask, "How serious is this guy, how committed is he?"

How much revenue he's willing to lose in his first year to get an opportunity is one measure of a guys commitment to running a NN, and I think last year proved that this measure had some validity, guys who offered some revenue got elected and overall did pretty well!

I value the contributions of the candidates to the komodo ecosystem x1000 more than the KMD they paid me last year! The candidates I supported last year wont need me this election, so I have one more opportunity to help some new guys get a go this year.

So, to answer your question, why aren't I running NN this year, it's because I didn't think the komodo talent pool would be big enough yet, but I think it will be next year, and even if it's not, it'll probably be too difficult for new unknown guys with no reputation to get a look in next year as there'll probably be so many competent people willing to run a NN for the rewards on offer that it becomes very hard for them to compete with existing known community members.

New entrants will have to join the community and establish themselves for a period before they can attempt to get elected, (and that's not a bad outcome), or more likely try and join an existing NN team, BUT, in 2019 an unknown guy could still get elected, BUT, they would probably need to share revenue/buy votes/offer bribes to get noticed. This is like the end of CPU Bitcoin mining era, NN operators get larger rapidly as KMD price increases, not because of hardware needs, but because of competition for rewards i.e it's still game theory

This will be my last post here, I've got nothing more to say, good luck to everyone!

Enough with the whale farts already, get on with the election ... where can I see a list of candidates?

[hiphoptrail]

I don't see many new candidates so far, bear market NN rewards aren't that great now. You should just run your own node trump, not much competition so candidates don't need you

Next year I will try and find a permanent tech partner and we will run two NN every year thereafter and split the rewards 50:50.

It means another year of HODL to preserve my ~2.7% of future VOTE, but from 2020 onwards I should be able to live off the ~1500 kmd per month and maintain my two NN's, even after the BIG players arrive.

In future years I think the discussion around this process will change and the community will speak more of NN 'selection' rather than 'elections'.

When the monthly reward is ~1500 USD candidates will mostly be individuals and small groups of 2-3 guys trying to bootstrap startup projects, and in that context, the process of voting feels similar to a regular political election.

When the NN monthly reward is consistently over 25k USD per month, however, the candidates will be profit-making businesses, and there will likely be quite a few large existing crypto players trying to secure one or more NN, and they won't be investing huge sums in the ecosystem if they have to rely on being 'popular' to attract VOTE from random community members in an 'election' where the community frowns upon revenue sharing to secure one of the limited NN spots.

We should never forget, NN aren't making any real decisions, in this early phase the NN rewards can attract new talent into the ecosystem, and so the process is sort of a popularity contest based on candidates skills and contributions to the community so far, but when the NN rewards are bootstrapping large crypto businesses this process will feel more like how monopoly licenses are allocated to large enterprises in industries where TPTB deliberately restrict who can participate.

Don't misunderstand me - I like the NN selection system jl777 and co. have designed, but we should never forget that the NN rewards come from a restriction on who can become a NN, and the easy mining rewards are by design anti-competitive compared to regular miners, and that's a good design IMO. BUT, this isn't like electing politicians where vote buying is obviously corrupt, this is more like selecting which large telco gets the right to roll out 5G networks, or which mining company can extract minerals from public land. The community wants reliable operators who do a good job, and the businesses want certainty so they can invest capital, time & skill.

Uncertainty is costly, and any business relying on their NN revenue streams to fund operational costs and growth in the ecosystem will not risk relying on an election every year where they have to campaign for votes, that is too uncertain, 'last year we could budget for NN rewards, but oh no, we lost the last election so for the next 12 months our revenue stream is gone' - this is a recipe for disaster, and not how successful businesses operate.

In the future when KMD MK is much larger than it is today NN candidates will look for ways to guarantee their spots over multiple years, and that will include things like competition with other NN candidates using incentives like revenue sharing, other token offerings, and discounts on various services and products offered by the NN business itself, as well as private deals with large holders.

I also hope in the future we see genuine community run nodes for small KMD holders to pool their VOTE.

This is not an outcome we should fear IMO, on the contrary, NN revenue streams will allow komodo based companies to prosper and grow without resorting to the traditional revenue sources of so many existing internet business (selling customer data and advertising), and charging exorbitant fees.

We should prepare for NN candidates to be businesses though, and expect that they will  try to secure NN 'licenses' in the future in ways that involve offering incentives to voters, and eventually I think the majority of the community will not be freaked out by revenue sharing, especially if we have genuine community pools.

In the end the community of komodo is best represented by the owners of KMD!

Good luck to ALL the 2019 NN candidates!

i always enjoy reading your posts. you put a lot of thought into them.

[VoskCoin]

I don't see many new candidates so far, bear market NN rewards aren't that great now. You should just run your own node trump, not much competition so candidates don't need you

Next year I will try and find a permanent tech partner and we will run two NN every year thereafter and split the rewards 50:50.

It means another year of HODL to preserve my ~2.7% of future VOTE, but from 2020 onwards I should be able to live off the ~1500 kmd per month and maintain my two NN's, even after the BIG players arrive.

In future years I think the discussion around this process will change and the community will speak more of NN 'selection' rather than 'elections'.

When the monthly reward is ~1500 USD candidates will mostly be individuals and small groups of 2-3 guys trying to bootstrap startup projects, and in that context, the process of voting feels similar to a regular political election.

When the NN monthly reward is consistently over 25k USD per month, however, the candidates will be profit-making businesses, and there will likely be quite a few large existing crypto players trying to secure one or more NN, and they won't be investing huge sums in the ecosystem if they have to rely on being 'popular' to attract VOTE from random community members in an 'election' where the community frowns upon revenue sharing to secure one of the limited NN spots.

We should never forget, NN aren't making any real decisions, in this early phase the NN rewards can attract new talent into the ecosystem, and so the process is sort of a popularity contest based on candidates skills and contributions to the community so far, but when the NN rewards are bootstrapping large crypto businesses this process will feel more like how monopoly licenses are allocated to large enterprises in industries where TPTB deliberately restrict who can participate.

Don't misunderstand me - I like the NN selection system jl777 and co. have designed, but we should never forget that the NN rewards come from a restriction on who can become a NN, and the easy mining rewards are by design anti-competitive compared to regular miners, and that's a good design IMO. BUT, this isn't like electing politicians where vote buying is obviously corrupt, this is more like selecting which large telco gets the right to roll out 5G networks, or which mining company can extract minerals from public land. The community wants reliable operators who do a good job, and the businesses want certainty so they can invest capital, time & skill.

Uncertainty is costly, and any business relying on their NN revenue streams to fund operational costs and growth in the ecosystem will not risk relying on an election every year where they have to campaign for votes, that is too uncertain, 'last year we could budget for NN rewards, but oh no, we lost the last election so for the next 12 months our revenue stream is gone' - this is a recipe for disaster, and not how successful businesses operate.

In the future when KMD MK is much larger than it is today NN candidates will look for ways to guarantee their spots over multiple years, and that will include things like competition with other NN candidates using incentives like revenue sharing, other token offerings, and discounts on various services and products offered by the NN business itself, as well as private deals with large holders.

I also hope in the future we see genuine community run nodes for small KMD holders to pool their VOTE.

This is not an outcome we should fear IMO, on the contrary, NN revenue streams will allow komodo based companies to prosper and grow without resorting to the traditional revenue sources of so many existing internet business (selling customer data and advertising), and charging exorbitant fees.

We should prepare for NN candidates to be businesses though, and expect that they will  try to secure NN 'licenses' in the future in ways that involve offering incentives to voters, and eventually I think the majority of the community will not be freaked out by revenue sharing, especially if we have genuine community pools.

In the end the community of komodo is best represented by the owners of KMD!

Good luck to ALL the 2019 NN candidates!

that's a very interesting comparison, thanks for sharing that

[VoskCoin]

Not planning to spam my campaign for 1 EU notary node, but I do want to share that VoskCoin has entered the 2019 Komodo Notary Node Elections



You can review my content at https://www.youtube.com/voskcoin and feel free to reach out directly to me with any questions, on any of the platforms I'm on.

[Big Naturals]

In the end the community of komodo is best represented by the owners of KMD!

+1

dPoW is a hybrid version of proof of stake where KMD investors get to decide who runs NN

will be awesome when someone sets up a community node, my prediction is when kmd hits next ATH NN profits will be high enough to pay operator a good salary with plenty left over for small hodlers to share some of the spoils, but with bear market prices the main priority is 64 reliable notaries running 24/7

[oblox]

dPoW is a hybrid version of proof of stake where KMD investors get to decide who runs NN

No.

[Big Naturals]

dPoW is a hybrid version of proof of stake where KMD investors get to decide who runs NN

No.

KMD investors decide who runs 64 notaries, so saying dPoW is a HYBRID VERSION of PoS is valid IMO

1 VOTE = 1 KMD

[kjadB]

Unfortunately, a lot of smaller investors won't bother voting at all,

What was the turn out last year?

[kjadB]

dPoW is a hybrid version of proof of stake where KMD investors get to decide who runs NN

No.

semantics

[oblox]

dPoW is a hybrid version of proof of stake where KMD investors get to decide who runs NN

No.

KMD investors decide who runs 64 notaries, so saying dPoW is a HYBRID VERSION of PoS is valid IMO

1 VOTE = 1 KMD

No, you aren't directly generating blocks. Nothing about your existing UTXOs influences block generation. Of the NN's you elect, they are still mining POW as well. It's a poor statement and only serves to cause confusion about KMD from people doing their DD.

[Big Naturals]

dPoW is a hybrid version of proof of stake where KMD investors get to decide who runs NN

No.

KMD investors decide who runs 64 notaries, so saying dPoW is a HYBRID VERSION of PoS is valid IMO

1 VOTE = 1 KMD

No, you aren't directly generating blocks. Nothing about your existing UTXOs influences block generation. Of the NN's you elect, they are still mining POW as well. It's a poor statement and only serves to cause confusion about KMD from people doing their DD.

Ok, give a definition of dPoW without mentioning how the notaries are selected then, is that how you propose to rid people of confusion?

You must be a troll, anyone doing DD who doesn't appreciate 64 NN are elected based on 1KMD = 1 VOTE would call komodo a scam shitcoin,

"proof of jl777's buddies in discord"