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

[jl777]

How many Komodos are needed to run a node ?

0

To run a notary node and get $500+/mo you need to be one of the top 16 in any of the four regions: North America, Europe, Asia/Eastern Europe, Southern Hemisphere

We will have ways for people who want to run a notary node to campaign so stakeholders can see the qualified node operators, their geo-location, bandwidth, server specs, experience, etc.

We want to get as diverse stakeholders as possible to ensure no single stakeholder is getting anywhere close to controlling 33 notaries. That wont allow any double spending or funds stealing, but they could prevent new notarized hashes from being created and make creating new blocks intermittent.

It is the same 51% issue that all crypto has, so with a one node per geographic region and 1 vote per geographic region we should end up with a diverse set of notaries and stakeholders. It is perfectly fine for a stakeholder to vote for themselves

Notary nodes earn komodo enough to cover the operating costs and as key part of the ecosystem, they will be able to participate in any price growth of komodo. A bit more than 1% per year is allocated for the notary nodes, which is far less than the 5% per year from staking.

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[jl777]

Some have asked about what happens to the redeemed BTCD. Since the BTCD that is redeemed will already have gotten the komodo and the revshare snapshot, it is not expected that it will have a giant value.

But this is crypto.

You never know and so I came up with the auroboros plan. This plan would air drop all the collected BTCD at the end of the one year redeem period to all the komodo stakeholders who are identifiable, ie. not locked in zkp. So it will go to all transparent komodo holders.

In addition for usages as a testbed, the BTCD 1.0 that will be locked for a year will come back to life and people can do with it what they will.

[tyz]

Thanks for answering my questions!
To be honest, I am really excited about Komodo. I have hodled my BTCD for a long time in the trust it will be something great in the future. All I've read about Komodo yet, confirms me in this assumption/hope.

Three questions:

Will the amount of 200 million KMD after 14 years be the final amount? If so, will it become POS afterwards?

What part will Komodo play in SuperNET? Will it be possible to swap BTCD stored in Supernet wallet to KMD?

I didnt plan to support direct conversion of superBTCD, but maybe we can do that. probably easier just to withdraw via MGW to native and then convert, or maybe we can do MGW withdraw's to a conversion address.

dont worry, we wont strand anybody and will ensure everybody is able to swap. there is a 1 year period for the swap starting after ICO closes.

[Hyena]

jl777 is just another jordan lee from nubits failed project, except this one is even more greedy. Thanks a lot for locking up my funds for the following 10 weeks in yet another foul ICO. This is the worst most draconian altcoin exodus for its stakeholders I've ever seen. You are basically freezing your investors' funds for 10 weeks with absolutely no reward. Everyone who bought BTCD lately in hope of long waited releases and finally some deserved appreciation got screwed hard by this move because they should not have bought into BTCD at all. Instead, they would have waited at least until your KMD ICO and bought into it directly with their BTC. In crypto space 10 weeks is like 10 years. A lot can happen. If I still had my BTC I spent on BTCD I would certainly find a much better investment at some point in the next 10 weeks. But now, no matter how good opportunities pop out, my funds are stuck in this BTCD which has no hope of growing in price due to KMD price fix. No one is going to buy BTCD from the open market because they could as well as keep their BTC and wait until your actual ICO. In the meantime they can spend their funds if a better investment opportunity pops out. I hope a bird shits on your head jl777.

[Scofield]

jl777 is just another jordan lee from nubits failed project, except this one is even more greedy. Thanks a lot for locking up my funds for the following 10 weeks in yet another foul ICO. This is the worst most draconian altcoin exodus for its stakeholders I've ever seen. You are basically freezing your investors' funds for 10 weeks with absolutely no reward. Everyone who bought BTCD lately in hope of long waited releases and finally some deserved appreciation got screwed hard by this move because they should not have bought into BTCD at all. Instead, they would have waited at least until your KMD ICO and bought into it directly with their BTC. In crypto space 10 weeks is like 10 years. A lot can happen. If I still had my BTC I spent on BTCD I would certainly find a much better investment at some point in the next 10 weeks. But now, no matter how good opportunities pop out, my funds are stuck in this BTCD which has no hope of growing in price due to KMD price fix. No one is going to buy BTCD from the open market because they could as well as keep their BTC and wait until your actual ICO. In the meantime they can spend their funds if a better investment opportunity pops out. I hope a bird shits on your head jl777.

Sorry, have to agree with this. All these new projects/ico's/assets/gateways/etc are just getting out of hand. I do believe you're a great developer, but damn finish some shit before starting something new.....

[jl777]

Thanks for answering my questions!
To be honest, I am really excited about Komodo. I have hodled my BTCD for a long time in the trust it will be something great in the future. All I've read about Komodo yet, confirms me in this assumption/hope.

Three questions:

Will the amount of 200 million KMD after 14 years be the final amount? If so, will it become POS afterwards?

What part will Komodo play in SuperNET? Will it be possible to swap BTCD stored in Supernet wallet to KMD?

I didnt plan to support direct conversion of superBTCD, but maybe we can do that. probably easier just to withdraw via MGW to native and then convert, or maybe we can do MGW withdraw's to a conversion address.

dont worry, we wont strand anybody and will ensure everybody is able to swap. there is a 1 year period for the swap starting after ICO closes.

thanks for your support!

dPoW is definitely a big leap forward and enables all non-btc chains to be considered for use in high value transactions. patient holders of BTCD will be very happy with the end result as it BTCD 2.0 (komodo) creates bitcoin security level transactions using zcash privacy. Ignoring any trading/marketcap issues, if you just think about the magnitude of this...

And of course all the iguana tech in progress will move right into komodo. I think it is fair to say no other coin will directly support so many total coins directly (13 at last count)

I saw grewalsatinder working on an iguana video to appease the chants of "iguana isnt finished", which if it was true makes the video hard to explain, especially since the source for both the iguanacore and the GUI are available. But please do not ask me when it is completed as I do not know.

Also, all the various translators who have PM'ed me, thank you for your interest but there is no point to ask me about anything other than deep core tech issues. I dont do the GUI or website or translations, all that is delegated out to others and I dont even know to who! This allows me to concentrate on tech (most days)

Thanks for your understanding

[CryptoSporidium]

A previous question was not answered how many ICO, coins, projects has jl777 launched in recent years and what is their success rate?

did you miss: https://bitcointalk.org/index.php?topic=1605144.msg16119953#msg16119953

I did not actually launch even BTCD, I joined midway through the PoW phase
I did conduct the SuperNET ICO

I did raise private investements for various NXT projects and most of them are still pending for reasons explained in the referenced link.

I am happy to answer specific questions about any specific project, but for ICO funds it is SuperNET 2 years ago. I would consider surviving the bear market and still retaining the majority of NAV while developing iguana codebase a middling success. Nothing to write home about, but nothing to be ashamed about either. And in any case the end is not reached for SuperNET yet, still has many many years

Also, please try to evaluate komodo dPoW on its own merits, it is quite the unique tech. The question is if after seeing a testnet for komodo if there will be a mainnet with notary nodes. Do I have the tech skills to complete the required komodo tech?

I did write a full bitcoin node from scratch in the last 9 months. Maybe that is an ordinary thing, but maybe there are less than a handful of people who have actually done that.

What is happening with the anonymous debit card project CryptoCard?

[jl777]

jl777 is just another jordan lee from nubits failed project, except this one is even more greedy. Thanks a lot for locking up my funds for the following 10 weeks in yet another foul ICO. This is the worst most draconian altcoin exodus for its stakeholders I've ever seen. You are basically freezing your investors' funds for 10 weeks with absolutely no reward. Everyone who bought BTCD lately in hope of long waited releases and finally some deserved appreciation got screwed hard by this move because they should not have bought into BTCD at all. Instead, they would have waited at least until your KMD ICO and bought into it directly with their BTC. In crypto space 10 weeks is like 10 years. A lot can happen. If I still had my BTC I spent on BTCD I would certainly find a much better investment at some point in the next 10 weeks. But now, no matter how good opportunities pop out, my funds are stuck in this BTCD which has no hope of growing in price due to KMD price fix. No one is going to buy BTCD from the open market because they could as well as keep their BTC and wait until your actual ICO. In the meantime they can spend their funds if a better investment opportunity pops out. I hope a bird shits on your head jl777.

Sorry, have to agree with this. All these new projects/ico's/assets/gateways/etc are just getting out of hand. I do believe you're a great developer, but damn finish some shit before starting something new.....

I will try to avoid birds.

At least we all agree that BTCD investors are not getting a massive preference, but rather a sideways move. This was necessary to not make this a value transfer from ICO investors to BTCD holders. Had we done that, the dPoW would not have been able to raise the needed funds and that serves nobody's interests.

In exchange for a 10 week implicit peg the upside is from post-ICO where komodo will have a lot more resources and can credibly become a top coin. We have to be honest, without some external infusion, the old BTCD 1.0 would not had much of a chance to rise to the top in the current crowded space. And without the 10 week ceiling, this chance for a much bigger upside would not exist.

Unless any new point regarding the fairness issue to BTCD holders is raised, I will be silent on this issue from now as I have been asked and have answered multiple times. And remember I am suffering the same consequence so I eat my own cooking.

I claim that iguanacore is working and it will be released with GUI before ICO funding starts. If you dont believe that I can complete tech projects dont put any funds in until the iguana is released. Or wait until testnet is live. Or wait until mainnet is live and buy from exchanges. The decision is entirely yours.

For BTCD holders, if you wait 10 weeks or so, it will likely rise back to .0053 or higher due to the revshare asset snapshot. I hope you can look past the short term to the long term. I have always stated my goals are long term. But if you just want out, then I am sure there will be a nice exit point where you get to sell out and forget all this long term stuff.

This ICO has been setup to be as fair as possible to all parties and I have yet to hear any alternative that would have solved all factors.

[jl777]

A previous question was not answered how many ICO, coins, projects has jl777 launched in recent years and what is their success rate?

did you miss: https://bitcointalk.org/index.php?topic=1605144.msg16119953#msg16119953

I did not actually launch even BTCD, I joined midway through the PoW phase
I did conduct the SuperNET ICO

I did raise private investements for various NXT projects and most of them are still pending for reasons explained in the referenced link.

I am happy to answer specific questions about any specific project, but for ICO funds it is SuperNET 2 years ago. I would consider surviving the bear market and still retaining the majority of NAV while developing iguana codebase a middling success. Nothing to write home about, but nothing to be ashamed about either. And in any case the end is not reached for SuperNET yet, still has many many years

Also, please try to evaluate komodo dPoW on its own merits, it is quite the unique tech. The question is if after seeing a testnet for komodo if there will be a mainnet with notary nodes. Do I have the tech skills to complete the required komodo tech?

I did write a full bitcoin node from scratch in the last 9 months. Maybe that is an ordinary thing, but maybe there are less than a handful of people who have actually done that.

What is happening with the anonymous debit card project CryptoCard?

that is coinomat's card

[Johnny00]

jl777 is just another jordan lee from nubits failed project, except this one is even more greedy. Thanks a lot for locking up my funds for the following 10 weeks in yet another foul ICO. This is the worst most draconian altcoin exodus for its stakeholders I've ever seen. You are basically freezing your investors' funds for 10 weeks with absolutely no reward. Everyone who bought BTCD lately in hope of long waited releases and finally some deserved appreciation got screwed hard by this move because they should not have bought into BTCD at all. Instead, they would have waited at least until your KMD ICO and bought into it directly with their BTC. In crypto space 10 weeks is like 10 years. A lot can happen. If I still had my BTC I spent on BTCD I would certainly find a much better investment at some point in the next 10 weeks. But now, no matter how good opportunities pop out, my funds are stuck in this BTCD which has no hope of growing in price due to KMD price fix. No one is going to buy BTCD from the open market because they could as well as keep their BTC and wait until your actual ICO. In the meantime they can spend their funds if a better investment opportunity pops out. I hope a bird shits on your head jl777.

Sorry, have to agree with this. All these new projects/ico's/assets/gateways/etc are just getting out of hand. I do believe you're a great developer, but damn finish some shit before starting something new.....

How? Buy now at under 400k and get 25% return. I'll buy your btcd for 380k

[CryptoSporidium]

A previous question was not answered how many ICO, coins, projects has jl777 launched in recent years and what is their success rate?

did you miss: https://bitcointalk.org/index.php?topic=1605144.msg16119953#msg16119953

I did not actually launch even BTCD, I joined midway through the PoW phase
I did conduct the SuperNET ICO

I did raise private investements for various NXT projects and most of them are still pending for reasons explained in the referenced link.

I am happy to answer specific questions about any specific project, but for ICO funds it is SuperNET 2 years ago. I would consider surviving the bear market and still retaining the majority of NAV while developing iguana codebase a middling success. Nothing to write home about, but nothing to be ashamed about either. And in any case the end is not reached for SuperNET yet, still has many many years

Also, please try to evaluate komodo dPoW on its own merits, it is quite the unique tech. The question is if after seeing a testnet for komodo if there will be a mainnet with notary nodes. Do I have the tech skills to complete the required komodo tech?

I did write a full bitcoin node from scratch in the last 9 months. Maybe that is an ordinary thing, but maybe there are less than a handful of people who have actually done that.

What is happening with the anonymous debit card project CryptoCard?

that is coinomat's card

Ok, I thought you issued the asset james, Is it still being developed?

[Johnny00]

jl777 is just another jordan lee from nubits failed project, except this one is even more greedy. Thanks a lot for locking up my funds for the following 10 weeks in yet another foul ICO. This is the worst most draconian altcoin exodus for its stakeholders I've ever seen. You are basically freezing your investors' funds for 10 weeks with absolutely no reward. Everyone who bought BTCD lately in hope of long waited releases and finally some deserved appreciation got screwed hard by this move because they should not have bought into BTCD at all. Instead, they would have waited at least until your KMD ICO and bought into it directly with their BTC. In crypto space 10 weeks is like 10 years. A lot can happen. If I still had my BTC I spent on BTCD I would certainly find a much better investment at some point in the next 10 weeks. But now, no matter how good opportunities pop out, my funds are stuck in this BTCD which has no hope of growing in price due to KMD price fix. No one is going to buy BTCD from the open market because they could as well as keep their BTC and wait until your actual ICO. In the meantime they can spend their funds if a better investment opportunity pops out. I hope a bird shits on your head jl777.

Sorry, have to agree with this. All these new projects/ico's/assets/gateways/etc are just getting out of hand. I do believe you're a great developer, but damn finish some shit before starting something new.....

I will try to avoid birds.

At least we all agree that BTCD investors are not getting a massive preference, but rather a sideways move. This was necessary to not make this a value transfer from ICO investors to BTCD holders. Had we done that, the dPoW would not have been able to raise the needed funds and that serves nobody's interests.

In exchange for a 10 week implicit peg the upside is from post-ICO where komodo will have a lot more resources and can credibly become a top coin. We have to be honest, without some external infusion, the old BTCD 1.0 would not had much of a chance to rise to the top in the current crowded space. And without the 10 week ceiling, this chance for a much bigger upside would not exist.

Unless any new point regarding the fairness issue to BTCD holders is raised, I will be silent on this issue from now as I have been asked and have answered multiple times. And remember I am suffering the same consequence so I eat my own cooking.

I claim that iguanacore is working and it will be released with GUI before ICO funding starts. If you dont believe that I can complete tech projects dont put any funds in until the iguana is released. Or wait until testnet is live. Or wait until mainnet is live and buy from exchanges. The decision is entirely yours.

For BTCD holders, if you wait 10 weeks or so, it will likely rise back to .0053 or higher due to the revshare asset snapshot. I hope you can look past the short term to the long term. I have always stated my goals are long term. But if you just want out, then I am sure there will be a nice exit point where you get to sell out and forget all this long term stuff.

This ICO has been setup to be as fair as possible to all parties and I have yet to hear any alternative that would have solved all factors.

Thank you sir and I like my cheap btcd. Future komodo.

[jl777]

A previous question was not answered how many ICO, coins, projects has jl777 launched in recent years and what is their success rate?

did you miss: https://bitcointalk.org/index.php?topic=1605144.msg16119953#msg16119953

I did not actually launch even BTCD, I joined midway through the PoW phase
I did conduct the SuperNET ICO

I did raise private investements for various NXT projects and most of them are still pending for reasons explained in the referenced link.

I am happy to answer specific questions about any specific project, but for ICO funds it is SuperNET 2 years ago. I would consider surviving the bear market and still retaining the majority of NAV while developing iguana codebase a middling success. Nothing to write home about, but nothing to be ashamed about either. And in any case the end is not reached for SuperNET yet, still has many many years

Also, please try to evaluate komodo dPoW on its own merits, it is quite the unique tech. The question is if after seeing a testnet for komodo if there will be a mainnet with notary nodes. Do I have the tech skills to complete the required komodo tech?

I did write a full bitcoin node from scratch in the last 9 months. Maybe that is an ordinary thing, but maybe there are less than a handful of people who have actually done that.

What is happening with the anonymous debit card project CryptoCard?

that is coinomat's card

Ok, I thought you issued the asset james, Is it still being developed?

i arranged the fund raising, but coinomat did the card. they have a debit card, but it cant be a full anon card due to all the finreg changes globally
so it was complete with not the perfect result.

[roncar]

Hello dev.. is Filipino Translation still available? If so kindly pm me to start working.. thanks

[Breasal]

The reason for all this is pretty simple the project needs to raise funds so James and his team can create the tech for all this and finance the dPoW algorithm. This is only possible with the freshly raise BTC.

But this dilutes the f*#k out of BTCD holders. Now we swap from a pool of 1.2 M total BTCD to 200 M Komodo....how is this good? BTCD holders need to have the same percent of komodo as they held BTCD...nothing less or we get f*#ked.

[Breasal]

BTCD holders will benefit from Komodo. The revenue share that was promised won't go over to Komodo holders, but instead BTCD holders will get an asset.

Haha...lol when has any of James' assets every been profitable?

[Breasal]

Have been kicked out of the slack after holding this coin for 2 years b/c I stated this was a money grab and scammy behaviour. Well done James

Hmmm, this is not a good sign that you were dumped from slack channel. Any discussion should ensue to answer concerns....not cool.

edit...just read this...

Are you gambleh? I banned 2 people (gambleh, mig) for spreading fud (policy in supernet slack) but removed the ban now, hopefully now chat can continue in a civilized manner. We dont want bitcointalk behaviour at our slack.

[Breasal]

The thing is this also not build much trust... Year later you can do another "ico/cwap" as you need more money....

This is hard to argue against imo.

[jl777]

The reason for all this is pretty simple the project needs to raise funds so James and his team can create the tech for all this and finance the dPoW algorithm. This is only possible with the freshly raise BTC.

But this dilutes the f*#k out of BTCD holders. Now we swap from a pool of 1.2 M total BTCD to 200 M Komodo....how is this good? BTCD holders need to have the same percent of komodo as they held BTCD...nothing less or we get f*#ked.

current max coins is 22 million, so it is about 9x increase
and the number of komodo will be a corresponding multiplier, like a stock split
in the even no ICO funds come in, BTCD holders will have the same percent of komodo as now.

please calm down

[starik69]

Just another, now like Crypti/Lisk, ico from James
Give me money and i'l code you something.
BTW, who will pay all this transaction fees in Bitcoin and what happen when Komodo fees will not be enough to pay them?