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Author Topic: [ANN][KMD][dPoW] Komodo - Zcash Zero Knowledge Privacy Secured by Bitcoin  (Read 583389 times)
KomodoPlatform
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September 06, 2016, 01:45:37 PM
 #481

Where is the promised Anonymous Card?

It's was developed by Coinomat. The cards are issued & project finished, but the outcome didn't turn into a big success due to some problems which I'm not the right person to explain. Apparently some regulatory changes happened...

Can you explain why the project needs THAT much Money? Is there any plan what will happen with the budget?

The project seeks to raise funds to operate dPoW as well as pay for continued development and promotion. In order to use the Bitcoin blockchain tx fees must be paid, and that requires capital. Other usage is to ensure there are enough high capacity nodes around the world. Eventually the system will become self-sustaining, as other coins will use Komodo to get the benefits of dPoW.





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bitkokos2
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September 06, 2016, 01:58:37 PM
 #482

A few months ago BTCD was going to secure Bitcoin. Now I see Bitcoin is going to secure Komodo aka BTCD 2.0
How come?

Spend GCN at World of electronics Transfer files at www.gfile.us 10k free per transfer Smiley
KomodoPlatform
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September 06, 2016, 01:59:44 PM
 #483



About the lack of development


The only credible criticism I have heard so far is the lack of project completion. There have been reasons given for the delays, but iguana is about as done as any large scale project can be done. So it is time to package it up into nice GUI with installers and that process has begun.

For people that want to evaluate at the command line level on your own you can via my github.com/jl777/SuperNET repo. You might get a head start on the others that wait. I am constantly updating the repo but I do try to stabilize it as quickly as possible. production versions are made from a snapshot during stable times and go through a test procedure.

By necessity I am not personally involved in this testing, as the coder cant be the production tester of his own work. At this point I am still working in the iguana codebase, but at the higher levels of abstraction and rarely making any changes to the lower level code.

I took a few days off to code up a steemit liquidity awards bot, which worked and earned ~$10K in rewards in the week that it ran before the awards were stopped. To my knowledge my bot was the first one other than the insider's bots that earned the liquidity reward multiple times. My experiences about this are well documented. What does it mean? It shows that in one week I created a real money handling bot that competed against all the existing bots and managed to win awards. Something that few if any other outsider's bots did.

Does that count as a finished release? I did it on personal time one weekend.

Anyway, the question you need to answer is if I can actually code or not. I have my opinion, others have their opinion. If you are not a coder, ask around to find out how much work it is to write an entire bitcoin protocol from network wire protocol, script processing, secp signatures to RPC layer, from scratch without using external libraries. And if 9 months is a horribly long time to achieve this.

github.com/jl777/SuperNET
docs.supernet.org (a list of iguana API)

KomodoPlatform
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September 06, 2016, 02:07:12 PM
 #484

A few months ago BTCD was going to secure Bitcoin. Now I see Bitcoin is going to secure Komodo aka BTCD 2.0
How come?

Hey!

What are you meaning with "secure"? BTCD was never going to secure Bitcoin in the same way Bitcoin will secure Komodo through dPoW.

Please elaborate Smiley

flyer88
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September 06, 2016, 02:15:46 PM
 #485

The project seeks to raise funds to operate dPoW as well as pay for continued development and promotion. In order to use the Bitcoin blockchain tx fees must be paid, and that requires capital. Other usage is to ensure there are enough high capacity nodes around the world. Eventually the system will become self-sustaining, as other coins will use Komodo to get the benefits of dPoW.
Okay. I have some more questions. Maybe you can answer them too.

How many developers will work on that project?

How long will development last until its finished? Any time frame?

How many nodes will the network need to work? I guess most nodes will be private ones, as in other crypto-currencies. Why should they be paid with ICO-Funds? Isnt it a decentralised concept?

Can you complete the BTCD-Swap/asset thing in the first post? There are some posts of James where he wrote something about an asset. Dont see anything in the description.

Quote from: KomodoPlatform
In order to simplify the BTCD to KMD swap, a fixed exchange rate of 1.0 BTCD to 0.00532074 BTC was established, meaning that if you send one BTCD you will receive 0.00532074 BTC worth of Komodo.

I dont understand that. I will get Komodo to a fixed exchange rate, although Komodo has no price now. So i dont know how much i will get, right?


Thank you
bitkokos2
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September 06, 2016, 02:17:37 PM
 #486

A few months ago BTCD was going to secure Bitcoin. Now I see Bitcoin is going to secure Komodo aka BTCD 2.0
How come?

Hey!

What are you meaning with "secure"? BTCD was never going to secure Bitcoin in the same way Bitcoin will secure Komodo through dPoW.

Please elaborate Smiley

Honestly, I don't really remember when/where I saw that. It was meant to be more secure than BTC

Spend GCN at World of electronics Transfer files at www.gfile.us 10k free per transfer Smiley
metropolia
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September 06, 2016, 02:19:40 PM
 #487

What kind of campaign you will offer? Let us know, for example, twitter, facebook, signature and so on. Thanks
cryptospreader
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September 06, 2016, 02:22:50 PM
 #488

A few months ago BTCD was going to secure Bitcoin. Now I see Bitcoin is going to secure Komodo aka BTCD 2.0
How come?

Hey!

What are you meaning with "secure"? BTCD was never going to secure Bitcoin in the same way Bitcoin will secure Komodo through dPoW.

Please elaborate Smiley

Honestly, I don't really remember when/where I saw that. It was meant to be more secure than BTC

None of the coins can secure other coin(s). They're just speculations that are likely used to spoof people to get into their favorable coin.

KomodoPlatform
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September 06, 2016, 02:42:56 PM
 #489

The project seeks to raise funds to operate dPoW as well as pay for continued development and promotion. In order to use the Bitcoin blockchain tx fees must be paid, and that requires capital. Other usage is to ensure there are enough high capacity nodes around the world. Eventually the system will become self-sustaining, as other coins will use Komodo to get the benefits of dPoW.
Okay. I have some more questions. Maybe you can answer them too.

How many developers will work on that project?

How long will development last until its finished? Any time frame?

How many nodes will the network need to work? I guess most nodes will be private ones, as in other crypto-currencies. Why should they be paid with ICO-Funds? Isnt it a decentralised concept?

Can you complete the BTCD-Swap/asset thing in the first post? There are some posts of James where he wrote something about an asset. Dont see anything in the description.

Quote from: KomodoPlatform
In order to simplify the BTCD to KMD swap, a fixed exchange rate of 1.0 BTCD to 0.00532074 BTC was established, meaning that if you send one BTCD you will receive 0.00532074 BTC worth of Komodo.

I dont understand that. I will get Komodo to a fixed exchange rate, although Komodo has no price now. So i dont know how much i will get, right?


Thank you

Certainly!

How many developers will work on that project?

Komodo is coded almost entirely by jl777. With the funds we raise in the ICO will able us to hire more developers.

There is also a GUI team that is working for other SuperNET related projects, and who will also be working for Komodo.

How long will development last until its finished? Any time frame?

Very quickly: Komodo testnet with working dPoW is expected during the ICO and mainnet launch with anonymous transactions (Zcash) within two weeks after ICO ends.

How many nodes will the network need to work?

The plan is to get 64 notary nodes working worldwide, but if we don't rise enough funds that number would have to be revisited. 64 nodes would be optimal.

The block rewards for nodes including txfees are expected to pay for costs after the initial startup period.


Why should they be paid with ICO-Funds? Isnt it a decentralised concept?

There are some requirements to be a notary node:

1) To run a notary node you will have to be voted in by the Komodo stakeholders. That is done via a voting mechanism.
2) The notary nodes have to meet certain hardware requirements. Earlier jl777 estimated: 64 GB RAM, 300GB SSD is enough this year, ddos protection via second node, good bandwidth.

These nodes have to be paid from the capital until the system becomes self-sustaining

Can you complete the BTCD-Swap/asset thing in the first post? There are some posts of James where he wrote something about an asset.

We will be publishing a detailed ICO FAQ later today. The information will be there.


KomodoPlatform
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September 06, 2016, 02:49:18 PM
 #490

What kind of campaign you will offer? Let us know, for example, twitter, facebook, signature and so on. Thanks

We will have a signature campaign, translations, and so on. We are still working on the details and the signatures are being designed.

We won't publish any info until we are sure about the plan.

Sit tight!  Smiley


solix
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September 06, 2016, 02:58:58 PM
 #491

sorry guys, I do not understand what is Komodo? Is it Zcash fork?

Hey, no problem!

Yes we use the Zcash technology, all credit to them! However, we are not a simple fork as we have added our own technology on top of it. We use NXT style PoS along with a new consensus method called dPoW. The dPoW is an innovation of our own, which will secure Komodo with bitcoin's hashrate (and other coins can secure their blockchains via Komodo).

Another big component is Iguana, which is another project that is in its finish line. We haven't really talked about it yet, but Iguana and Komodo will complement each other.

We will be explaining everything, so sign up for our newsletter and you won't miss anything!
https://komodoplatform.com/

Here is our first article, describing a little bit about dPoW
https://steemit.com/bitcoin/@komodoplatform/komodo-has-been-born

Core Media wrote a great article about Komodo, check it out too!
http://coremedia.info/index.php/blockchain-news/item/303-komodo-zero-knowledge-privacy-secured-by-bitcoin/303-komodo-zero-knowledge-privacy-secured-by-bitcoin

More will come!  Wink

How are you guys managing the toxic waste from the "trusted setup"?

From: http://weuse.cash/2016/06/09/btc-xmr-zcash/

"Another problem ZCash faces is the “trusted setup”, the so called cryptographic “toxic waste” problem. This is some data that is needed when the initial parameters of ZCash are created, but needs to be deleted afterwards. If somehow someone gains access to this “toxic waste”, this entity can create coins out of thin air without anyone noticing. This is a serious problem because this makes a malicious backdoor in ZCash a real possibility.

The fact that ZCash is a US-based company, doesn’t really help with building confidence in this cryptocurrency. It’s not unthinkable some agency will require the ZCash team to make a copy of this “toxic waste” and hand it over to them. Just google what the US government did to the owners of e-gold, Liberty Reserve and the Liberty Dollar, and you’ll understand what kind of pressure they can exert on the owners of the ZCash company. If coins can be created at will, the inflation will diminish the value of the coin."


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flyer88
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September 06, 2016, 03:02:31 PM
 #492

Komodo is coded almost entirely by jl777. With the funds we raise in the ICO will able us to hire more developers.
Okay. But how many? Iam sure your team made some calculations about the needed manpower according to expenditure in the preperation phase before the ICO-Announcement.

Very quickly: Komodo testnet with working dPoW is expected during the ICO and mainnet launch with anonymous transactions (Zcash) within two weeks after ICO ends.
Its operational then. But when is it ready with all planned features? If you only need 2 weeks for coding, you dont need new developers..

We will be publishing a detailed ICO FAQ later today. The information will be there.
I Try to be patient  Smiley

thank you
Cassius
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September 06, 2016, 03:22:59 PM
 #493

BTCD Valuation for the swap

In order to simplify the BTCD to KMD swap, a fixed exchange rate of 1.0 BTCD to 0.00532074 BTC was established, meaning that if you send one BTCD you will receive 0.00532074 BTC worth of Komodo. This exchange rate was determined by adding a 50% bonus to the daily closing price average of August. The swapping process will take place after the ICO and detailed information will be posted soon.

Average price in Aug = 0.00354716 BTC/BTCD
BTCD exchange rate =  0.00354716 * 1.5 = 0.00532074 BTC/BTCD

When we take into account the bonuses during ICO, we get:

Oct. 15 -           25% bonus  = 0.00425 BTC/BTCD
Oct. 16-22 -      20% bonus  = 0.00443 BTC/BTCD
Oct. 23-29 -      15% bonus  = 0.00462 BTC/BTCD
Oct. 30-Nov 5 - 10% bonus = 0.00483 BTC/BTCD
Nov 6-12 -         5% bonus   = 0.00506 BTC/BTCD
Nov 13-20 -       0% bonus   = 0.00532 BTC/BTCD


Has more detailed information been posted about this yet?
The swapping process will take place after ICO but will still take into account the timing of the bonuses during ICO?
jl777
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September 06, 2016, 03:31:22 PM
 #494

sorry guys, I do not understand what is Komodo? Is it Zcash fork?

Hey, no problem!

Yes we use the Zcash technology, all credit to them! However, we are not a simple fork as we have added our own technology on top of it. We use NXT style PoS along with a new consensus method called dPoW. The dPoW is an innovation of our own, which will secure Komodo with bitcoin's hashrate (and other coins can secure their blockchains via Komodo).

Another big component is Iguana, which is another project that is in its finish line. We haven't really talked about it yet, but Iguana and Komodo will complement each other.

We will be explaining everything, so sign up for our newsletter and you won't miss anything!
https://komodoplatform.com/

Here is our first article, describing a little bit about dPoW
https://steemit.com/bitcoin/@komodoplatform/komodo-has-been-born

Core Media wrote a great article about Komodo, check it out too!
http://coremedia.info/index.php/blockchain-news/item/303-komodo-zero-knowledge-privacy-secured-by-bitcoin/303-komodo-zero-knowledge-privacy-secured-by-bitcoin

More will come!  Wink

How are you guys managing the toxic waste from the "trusted setup"?

From: http://weuse.cash/2016/06/09/btc-xmr-zcash/

"Another problem ZCash faces is the “trusted setup”, the so called cryptographic “toxic waste” problem. This is some data that is needed when the initial parameters of ZCash are created, but needs to be deleted afterwards. If somehow someone gains access to this “toxic waste”, this entity can create coins out of thin air without anyone noticing. This is a serious problem because this makes a malicious backdoor in ZCash a real possibility.

The fact that ZCash is a US-based company, doesn’t really help with building confidence in this cryptocurrency. It’s not unthinkable some agency will require the ZCash team to make a copy of this “toxic waste” and hand it over to them. Just google what the US government did to the owners of e-gold, Liberty Reserve and the Liberty Dollar, and you’ll understand what kind of pressure they can exert on the owners of the ZCash company. If coins can be created at will, the inflation will diminish the value of the coin."


The zcash devs are not very likely to be doing any funny business and I think their mechanism to create the parameters requires only one participant to be honest to avoid the problem. Also, the process to create these parameters has been quite carefully thought through:

http://diyhpl.us/~bryan/papers2/bitcoin/snarks/Secure%20sampling%20of%20public%20parameters%20for%20succinct%20zero%20knowledge%20proofs.pdf

If you read the paper you will quickly realize the highest caliber mathematics that permeates the entire zcash project. Considering the level of scrutiny and care that will be used to create the zcash parameters, I do not see being able to do any better (or come close).

I have confirmed that zcash forks will be able to use the same parameters as zcash and that is the plan. The alternative is to generate our own parameters but that will create a set of issues that even if solved, it wont create any better set of parameters. It is simpler to use the same parameters.

James

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
barbierir
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September 06, 2016, 03:34:12 PM
 #495

In a related question are Btcd tech like teleport/telepod still relevant to Komodo? That is are they used in combination with ZCash? Or are they no longer necessary because it achieves the same results and better?

.
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jl777
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September 06, 2016, 03:37:20 PM
 #496

Komodo is coded almost entirely by jl777. With the funds we raise in the ICO will able us to hire more developers.
Okay. But how many? Iam sure your team made some calculations about the needed manpower according to expenditure in the preperation phase before the ICO-Announcement.

Very quickly: Komodo testnet with working dPoW is expected during the ICO and mainnet launch with anonymous transactions (Zcash) within two weeks after ICO ends.
Its operational then. But when is it ready with all planned features? If you only need 2 weeks for coding, you dont need new developers..

We will be publishing a detailed ICO FAQ later today. The information will be there.
I Try to be patient  Smiley

thank you
Ideally we can recruit half a dozen high caliber C devs for continued enhancement of the tech, along with a similar number of GUI devs. We probably dont need quite so many and this is the high end scenario.

2 weeks after the end of ICO is still 3 months away and I expect that we will be able to hire a couple of devs to help me, but even without additional help I expect to be able to complete the dPoW in time.

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
jl777
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September 06, 2016, 03:43:28 PM
 #497

In a related question are Btcd tech like teleport/telepod still relevant to Komodo? That is are they used in combination with ZCash? Or are they no longer necessary because it achieves the same results and better?

zcash zkp replaces telepods as it is better tech.

teleport is network level and it is what is evolved into notary nodes.

Also, after initial release it will be possible to add an IP level mixing to shield IP addresses within a closed system, ie no exit nodes to worry about. With telepods, the teleport level protection would have been very critical, but with zkp tech the importance is less, so while it is a nice enhancement, the DEX to me is a higher priority

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
KomodoPlatform
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September 06, 2016, 04:02:37 PM
 #498

BTCD Valuation for the swap

In order to simplify the BTCD to KMD swap, a fixed exchange rate of 1.0 BTCD to 0.00532074 BTC was established, meaning that if you send one BTCD you will receive 0.00532074 BTC worth of Komodo. This exchange rate was determined by adding a 50% bonus to the daily closing price average of August. The swapping process will take place after the ICO and detailed information will be posted soon.

Average price in Aug = 0.00354716 BTC/BTCD
BTCD exchange rate =  0.00354716 * 1.5 = 0.00532074 BTC/BTCD

When we take into account the bonuses during ICO, we get:

Oct. 15 -           25% bonus  = 0.00425 BTC/BTCD
Oct. 16-22 -      20% bonus  = 0.00443 BTC/BTCD
Oct. 23-29 -      15% bonus  = 0.00462 BTC/BTCD
Oct. 30-Nov 5 - 10% bonus = 0.00483 BTC/BTCD
Nov 6-12 -         5% bonus   = 0.00506 BTC/BTCD
Nov 13-20 -       0% bonus   = 0.00532 BTC/BTCD


Has more detailed information been posted about this yet?
The swapping process will take place after ICO but will still take into account the timing of the bonuses during ICO?

We will post a detailed ICO FAQ later today.

Those bonuses are for the BTC investments. BTCD has a 50 % bonus already priced in. It will all be in the ICO FAQ!

bitkokos2
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September 06, 2016, 05:09:47 PM
 #499

Why do you expect people to buy KMD at 0.00425 - 0.0053 during that month where they can buy BTCD for cheaper and exchange that as 0.0053 ?

Also, if BTCD price goes down lets say in 6 months 0.001 people will be buying btcd and exchange it with KMD for 0.0053

Have you considered that?

Spend GCN at World of electronics Transfer files at www.gfile.us 10k free per transfer Smiley
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September 06, 2016, 05:15:44 PM
 #500


If you need any German translation:

I'm a native German speaker and would be very happy if I could help!

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