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Author Topic: [ANN][KMD][dPoW] Komodo - next generation platform, Secured by Bitcoin  (Read 1144250 times)
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November 25, 2016, 06:41:50 AM
 #2741

We should vote for jl777
http://www.coindesk.com/vote-coindesks-most-influential-blockchain-2016/
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November 25, 2016, 06:56:35 AM
 #2742

Howcome the spreadsheet in signature bounty has not yet been validated . The ICO was already finished.
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November 25, 2016, 08:15:58 AM
 #2743

Howcome the spreadsheet in signature bounty has not yet been validated . The ICO was already finished.

Sorry for the delay, we will do it as soon as we can.

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November 25, 2016, 09:54:27 AM
Last edit: November 25, 2016, 11:14:28 AM by KomodoPlatform
 #2744

Notary Node Election Details

We will use the ICO funds to guarantee a certain payment for the notary node operators. In this way we will ensure that we will have quality notary nodes and our network is reliable.

There will be 32 - 64 notary nodes. We will ensure funding for at least 32 notary nodes, but there could be up to 64. Each region has its own election and its own budget, thus each region will have at least 8 notary nodes and an equivalent budget.

Each notary node candidate can decide themselves how much guaranteed subsidy they require to run a node. They are able to set this figure for each node they operate, and it can be anything between 0 and 100 %. The full 100% subsidy means that they need a guaranteed payment of $500/month.

The total guaranteed amount is $16,000 per month, or $4,000 per month per region. In other words we could say the total guaranteed amount is 3200 %, or 800 % per region.

Each candidate must publicly announce the subsidy required, and that may affect how people vote. Who ever gets the most votes wins the election and is guaranteed to be able to run a node. The subsidy percentage they require is subtracted from the total budget, which is 800 % for each region. This process will continue until all subsidy is gone. The end result is at least 8 nodes per region, but probably more as some candidates won't need a full 100% subsidy.

An example

Region A has 6 candidates with 400 % subsidy. [for simplicity, but we will have 800 % subsidy]

After election we count the votes, and the result is as follows:
1. Alice - 211 votes (subsidy: 100%)
2. Bob - 190 votes (subsidy: 100%)
3. Charley - 187 votes (subsidy: 50%)
4. Dan - 122 votes (subsidy: 75%)
5. Mike - 88 votes (subsidy: 90% )
6. Tom - 51 votes (subsidy: 50% )

-> Alice is the winner, and gets elected, 300% subsidy left
-> Bob finished second, and gets elected, 200% subsidy left
-> Charley gets elected, 150% subsidy left
-> Dan gets elected, 75% subsidy left
-> Mike does not get elected, not enough budget
-> Tom gets elected, 25% subsidy left

Region A ended up with 5 notary nodes, and 25% subsidy was left over.

At the end those left over subsidies are combined from all 4 regions, and another notary node is elected - if the total subsidy is enough.


The Guaranteed Subsidy

A 100% subsidy means that with the ICO funds we will guarantee an income of $500/month. However, it is possible that we won't have to pay anything if the mining revenue is more than $500/month.

There will be 1440 new block each day, and each block has a 3 KMD block reward, which means there will be a 4320 KMD income per day.

With 64 notary nodes each would receive 4320/64 = 67.5 KMD/day -> 2025 KMD/month [Note that possibly we won't get 64 notary nodes, which would mean more income per node]

With the current exchange rate of 0.00012909 BTC/KMD the notary node would get 0.26 BTC/month = $190/month.
 -> thus we would pay the node $310 in BTC, so that their total income is $500/month.

When KMD price goes over $0.25 dollars we don't have to pay any subsidy.

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November 25, 2016, 10:17:52 AM
 #2745

Notary node election details and budget.






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November 25, 2016, 12:12:08 PM
 #2746

Notary Node Election Details
...
With the current exchange rate of 0.00012909 BTC/KMD the notary node would get 0.26 BTC/month = $190/month.
 -> thus we would pay the node $310 in BTC, so that their total income is $500/month.

When KMD price goes over $0.25 dollars we don't have to pay any subsidy.

What is it about? Where you can see a KMD exchange?
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November 25, 2016, 12:50:59 PM
 #2747

Notary Node Election Details
...
With the current exchange rate of 0.00012909 BTC/KMD the notary node would get 0.26 BTC/month = $190/month.
 -> thus we would pay the node $310 in BTC, so that their total income is $500/month.

When KMD price goes over $0.25 dollars we don't have to pay any subsidy.

What is it about? Where you can see a KMD exchange?

It's the price the ICO investors paid to get KMD with 0% bonus.

Of course we don't know the actual market price until there is a market.

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November 25, 2016, 02:30:42 PM
 #2748

The Komodo Platform: Security and Privacy.









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November 25, 2016, 03:10:06 PM
 #2749

Im new in bitcoin and altcoin. but i have little bit bitcoin right now and i dont know why i interest with KMD.  When KMD listed to the exchange? I need learn more about this coin and may be l'll start invest my little bit of BTC for KMD if i think there is good future.

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November 25, 2016, 04:24:52 PM
 #2750

Im new in bitcoin and altcoin. but i have little bit bitcoin right now and i dont know why i interest with KMD.  When KMD listed to the exchange? I need learn more about this coin and may be l'll start invest my little bit of BTC for KMD if i think there is good future.

Komodo is not yet being distribute to their ICO participants yet....so you need to wait maybe 2 more weeks, before KMD hit the exchanges




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November 25, 2016, 07:51:03 PM
 #2751

Notary Node Election Details

We will use the ICO funds to guarantee a certain payment for the notary node operators. In this way we will ensure that we will have quality notary nodes and our network is reliable.

There will be 32 - 64 notary nodes. We will ensure funding for at least 32 notary nodes, but there could be up to 64. Each region has its own election and its own budget, thus each region will have at least 8 notary nodes and an equivalent budget.

Each notary node candidate can decide themselves how much guaranteed subsidy they require to run a node. They are able to set this figure for each node they operate, and it can be anything between 0 and 100 %. The full 100% subsidy means that they need a guaranteed payment of $500/month.

The total guaranteed amount is $16,000 per month, or $4,000 per month per region. In other words we could say the total guaranteed amount is 3200 %, or 800 % per region.

Each candidate must publicly announce the subsidy required, and that may affect how people vote. Who ever gets the most votes wins the election and is guaranteed to be able to run a node. The subsidy percentage they require is subtracted from the total budget, which is 800 % for each region. This process will continue until all subsidy is gone. The end result is at least 8 nodes per region, but probably more as some candidates won't need a full 100% subsidy.

An example

Region A has 6 candidates with 400 % subsidy. [for simplicity, but we will have 800 % subsidy]

After election we count the votes, and the result is as follows:
1. Alice - 211 votes (subsidy: 100%)
2. Bob - 190 votes (subsidy: 100%)
3. Charley - 187 votes (subsidy: 50%)
4. Dan - 122 votes (subsidy: 75%)
5. Mike - 88 votes (subsidy: 90% )
6. Tom - 51 votes (subsidy: 50% )

-> Alice is the winner, and gets elected, 300% subsidy left
-> Bob finished second, and gets elected, 200% subsidy left
-> Charley gets elected, 150% subsidy left
-> Dan gets elected, 75% subsidy left
-> Mike does not get elected, not enough budget
-> Tom gets elected, 25% subsidy left

Region A ended up with 5 notary nodes, and 25% subsidy was left over.

At the end those left over subsidies are combined from all 4 regions, and another notary node is elected - if the total subsidy is enough.


The Guaranteed Subsidy

A 100% subsidy means that with the ICO funds we will guarantee an income of $500/month. However, it is possible that we won't have to pay anything if the mining revenue is more than $500/month.

There will be 1440 new block each day, and each block has a 3 KMD block reward, which means there will be a 4320 KMD income per day.

With 64 notary nodes each would receive 4320/64 = 67.5 KMD/day -> 2025 KMD/month [Note that possibly we won't get 64 notary nodes, which would mean more income per node]

With the current exchange rate of 0.00012909 BTC/KMD the notary node would get 0.26 BTC/month = $190/month.
 -> thus we would pay the node $310 in BTC, so that their total income is $500/month.

When KMD price goes over $0.25 dollars we don't have to pay any subsidy.


Before we start we value KMD at 0 $.
Good image for investors before the delivery of KMD valued at 0 $.
At a minimum, these KMDs should be valued at the price of ICO. 100% subsidy does not mean $ 500 spending.

1btc = 10000 KMD ICO price use this for elections too

Thanks
KomodoPlatform
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November 25, 2016, 08:47:49 PM
 #2752

Before we start we value KMD at 0 $.
Good image for investors before the delivery of KMD valued at 0 $.
At a minimum, these KMDs should be valued at the price of ICO. 100% subsidy does not mean $ 500 spending.

1btc = 10000 KMD ICO price use this for elections too

Thanks

We simply guarantee a subsidy for the notary node, so that they stay in operation. Without a guaranteed income we could lose notary nodes if the KMD block reward would not be enough to cover their expenses. $500 is enough to cover all the expenses.

We discussed this in Slack, see: http://sprnt.slackarchive.io/elections/

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mig5000
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November 25, 2016, 09:10:49 PM
 #2753

There is 2.5k BTC from the crowdfunding and 7k BTC from BTCD. Anybody who is not expecting a dump the few first weeks is a lunatic. Jl777 and co have been accumulating BTCD for months. Komodo is their exit pump. 3/4 of the theorical value of Komodo will be comprised of BTCD bag holders. Gl with that
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November 25, 2016, 09:25:12 PM
 #2754

Before we start we value KMD at 0 $.
Good image for investors before the delivery of KMD valued at 0 $.
At a minimum, these KMDs should be valued at the price of ICO. 100% subsidy does not mean $ 500 spending.

1btc = 10000 KMD ICO price use this for elections too

Thanks

We simply guarantee a subsidy for the notary node, so that they stay in operation. Without a guaranteed income we could lose notary nodes if the KMD block reward would not be enough to cover their expenses. $500 is enough to cover all the expenses.

We discussed this in Slack, see: http://sprnt.slackarchive.io/elections/
What role will our tokens play in this node?I mean what is the gain for a small token holder like me?
twistelaar
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November 26, 2016, 12:16:38 AM
 #2755

quick question; when launch on exchanges?

Thanks!
RJF19
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November 26, 2016, 12:22:43 AM
 #2756

There is 2.5k BTC from the crowdfunding and 7k BTC from BTCD. Anybody who is not expecting a dump the few first weeks is a lunatic. Jl777 and co have been accumulating BTCD for months. Komodo is their exit pump. 3/4 of the theorical value of Komodo will be comprised of BTCD bag holders. Gl with that

To quote you: "Please stop this type of worthless speculation comments that are out of the reality in most cases"

I can see why they kicked you out of the KMD Slack.

Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time. Thomas A. Edison
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November 26, 2016, 01:01:39 AM
 #2757

I think after listing on exchange. there are some dumps for fiat with big inverstors because They have more bonus coins (25% or 30%).
This fact will affect to the small investors so KMD manager should use the reserved funds to cover all bonus coins and it will help KMD to keep the price rising up.
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November 26, 2016, 09:43:10 AM
 #2758

I think after listing on exchange. there are some dumps for fiat with big inverstors because They have more bonus coins (25% or 30%).

Right now, the investors with the biggest bonus are BTCD holders. At current market price, the bonus must be something like 50% ...

KomodoPlatform
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November 26, 2016, 09:47:06 AM
 #2759

Before we start we value KMD at 0 $.
Good image for investors before the delivery of KMD valued at 0 $.
At a minimum, these KMDs should be valued at the price of ICO. 100% subsidy does not mean $ 500 spending.

1btc = 10000 KMD ICO price use this for elections too

Thanks

We simply guarantee a subsidy for the notary node, so that they stay in operation. Without a guaranteed income we could lose notary nodes if the KMD block reward would not be enough to cover their expenses. $500 is enough to cover all the expenses.

We discussed this in Slack, see: http://sprnt.slackarchive.io/elections/
What role will our tokens play in this node?I mean what is the gain for a small token holder like me?

I'm a bit unsure what you are asking, but

You can vote with your coins and get the good/stable notary node operators elected. You won't directly gain anything from the voting process itself.

◈▣ KOMODO ● Set Your Ideas Free ▣◈
.......AECOSYSTEFONATIVE BLOCKCHAINS.......
Blockchain Generator | Decentralized Crowdfunding | Decentralized Exchange | Bitcoin Security | Zero-Knowledge Proofs | Blockchain Interoperability | Scalable Infrastructure
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November 26, 2016, 12:07:17 PM
Last edit: November 26, 2016, 12:41:28 PM by Titomanereal
 #2760

Before we start we value KMD at 0 $.
Good image for investors before the delivery of KMD valued at 0 $.
At a minimum, these KMDs should be valued at the price of ICO. 100% subsidy does not mean $ 500 spending.

1btc = 10000 KMD ICO price use this for elections too

Thanks

We simply guarantee a subsidy for the notary node, so that they stay in operation. Without a guaranteed income we could lose notary nodes if the KMD block reward would not be enough to cover their expenses. $500 is enough to cover all the expenses.

We discussed this in Slack, see: http://sprnt.slackarchive.io/elections/
What role will our tokens play in this node?I mean what is the gain for a small token holder like me?

I'm a bit unsure what you are asking, but

You can vote with your coins and get the good/stable notary node operators elected. You won't directly gain anything from the voting process itself.


In the example that you put:
https://bitcointalk.org/index.php?topic=1605144.msg16985638#msg16985638

Mike has more votes but the elected is Tom.
How does that explain?

Because with that same format
for example: Only 10% of subsidy remains after 8 nodes.
9th 100 votes 60% subsidy
10th 90 votes 78% subsidy
11th 81 votes 90% subsidy
12th 70 votes 15% subsidy
13th 1 votes 0-10% subsidy

13th node is elected. I think votes are not worth anything.

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