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

[jl777]

I have a new question about the 5% inflation of Komodo: do only the notary nodes earn this staking revenue? Or anyone that participate in the network? Though the latters don't help confirming blocks.

Everyone that holds KMD, will automatically get staked.

Great! 

keep in mind the protected funds (zero knowledge) wont be able to be staked as there is no way to know the balances for those funds.

I am working on a way where people can stake as normal so they can make sure they will earn staking under their control, or they can just let the notary nodes stake for them. Keep in mind, if your total balance is low then it could be that you wont get many blocks at all, regardless if your node is staking directly or you let notaries do it.

The advantage to this dual nature is that even in the unlikely event that something happens to all the notary nodes, the network will still be able to generate blocks. That way we get a fully decentralized node by node staking, with the elected notary nodes staking as an overlay. Not sure I can get both to play nice with each other yet, but so far it is looking promising

James do you need to move funds into and out of a protected funds wallet/address? Is that how it will work?

There are transparent funds (normal bitcoin) and protected funds (zero knowledge)

You can of course transact using transparent funds
You can also transact using protected funds
You can convert transparent to protected
You can convert protected to transparent

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[armyman]

Hi James, there is any minimum amount of KMD that needs to be held in order to get stakes? Or any amount is good? (i.e. even 1 token)

What is required instead, in order to become a node? If it is a minimum amount of tokens, how many?

Cheers

[PondSea]

Hi James, there is any minimum amount of KMD that needs to be held in order to get stakes? Or any amount is good? (i.e. even 1 token)

What is required instead, in order to become a node? If it is a minimum amount of tokens, how many?

Cheers

I dont think there will be a minimum number of KMD to stake via the nodes. Now if you want to stake directly, James will need to answer.

If we get sufficient funding, we would be running 64 global nodes. These nodes dont need a minimum threshold of KMD like Dash masternodes, but they will need to have sufficient hardware requirements (8 core/64gb ram likely) and very reliable connectivity. They will also need to be voted in by the KMD community.

[jl777]

Hi James, there is any minimum amount of KMD that needs to be held in order to get stakes? Or any amount is good? (i.e. even 1 token)

What is required instead, in order to become a node? If it is a minimum amount of tokens, how many?

Cheers

There will be two independent ways of staking. The peercoin utxo based and the chances of winning a block depends on the amount of KMD in each utxo along with its coinage. The older it is, the higher chance it has to win, so eventually even small amounts will be able to win a block. Of course, a 1 satoshi utxo will probably never win a block, regardless of how old it is.

The issue of the utxo based staking is that you need to have many utxo if you have a large balance and this creates bloat and starts taking a fair amount of resources to stake. However, it is the time tested way for a decentralized staking and I prefer to use such time tested methods.

The other method is the NXT style that is based on total effective balance. That is the method the notary nodes will use and it wont matter how many utxo you have, though if you are spending them and it is not old enough, it wont have the staking power. There will be a bundle boundary balance that serves as a maximum possible and it is adjusted by any balance changes. This avoids attacks based on moving funds all around to addresses that would win a block. Also after an address gets a payout, it will need to "recharge". This will allow smaller addresses to win blocks.

With approx 1440 blocks per day, 1/1440'th total supply will on average win 1 block per day. So a balance of approx 2000 KMD should get staked once per month. And however long it takes, all the interest will then be paid out.

Anyway, the exact details are still subject to change, but I am working to allow people to passively earn 5% per year without having to do anything, but if so inclined would be able to proactively stake on their node.

[PondSea]

Hi James, there is any minimum amount of KMD that needs to be held in order to get stakes? Or any amount is good? (i.e. even 1 token)

What is required instead, in order to become a node? If it is a minimum amount of tokens, how many?

Cheers

There will be two independent ways of staking. The peercoin utxo based and the chances of winning a block depends on the amount of KMD in each utxo along with its coinage. The older it is, the higher chance it has to win, so eventually even small amounts will be able to win a block. Of course, a 1 satoshi utxo will probably never win a block, regardless of how old it is.

The issue of the utxo based staking is that you need to have many utxo if you have a large balance and this creates bloat and starts taking a fair amount of resources to stake. However, it is the time tested way for a decentralized staking and I prefer to use such time tested methods.

The other method is the NXT style that is based on total effective balance. That is the method the notary nodes will use and it wont matter how many utxo you have, though if you are spending them and it is not old enough, it wont have the staking power. There will be a bundle boundary balance that serves as a maximum possible and it is adjusted by any balance changes. This avoids attacks based on moving funds all around to addresses that would win a block. Also after an address gets a payout, it will need to "recharge". This will allow smaller addresses to win blocks.

With approx 1440 blocks per day, 1/1440'th total supply will on average win 1 block per day. So a balance of approx 2000 KMD should get staked once per month. And however long it takes, all the interest will then be paid out.

Anyway, the exact details are still subject to change, but I am working to allow people to passively earn 5% per year without having to do anything, but if so inclined would be able to proactively stake on their node.

So with the first method, would it be more advantageous to have smaller balances across multiple addresses?

In the second method, it looks like it would be best to have everything in one wallet. How long does it take to "recharge"?

[jl777]

Hi James, there is any minimum amount of KMD that needs to be held in order to get stakes? Or any amount is good? (i.e. even 1 token)

What is required instead, in order to become a node? If it is a minimum amount of tokens, how many?

Cheers

There will be two independent ways of staking. The peercoin utxo based and the chances of winning a block depends on the amount of KMD in each utxo along with its coinage. The older it is, the higher chance it has to win, so eventually even small amounts will be able to win a block. Of course, a 1 satoshi utxo will probably never win a block, regardless of how old it is.

The issue of the utxo based staking is that you need to have many utxo if you have a large balance and this creates bloat and starts taking a fair amount of resources to stake. However, it is the time tested way for a decentralized staking and I prefer to use such time tested methods.

The other method is the NXT style that is based on total effective balance. That is the method the notary nodes will use and it wont matter how many utxo you have, though if you are spending them and it is not old enough, it wont have the staking power. There will be a bundle boundary balance that serves as a maximum possible and it is adjusted by any balance changes. This avoids attacks based on moving funds all around to addresses that would win a block. Also after an address gets a payout, it will need to "recharge". This will allow smaller addresses to win blocks.

With approx 1440 blocks per day, 1/1440'th total supply will on average win 1 block per day. So a balance of approx 2000 KMD should get staked once per month. And however long it takes, all the interest will then be paid out.

Anyway, the exact details are still subject to change, but I am working to allow people to passively earn 5% per year without having to do anything, but if so inclined would be able to proactively stake on their node.

So with the first method, would it be more advantageous to have smaller balances across multiple addresses?

In the second method, it looks like it would be best to have everything in one wallet. How long does it take to "recharge"?

the odds are theoretically the same regardless of how it is split. however connectivity issues might make it so it is better to have multiple utxo so you dont miss out on a block due to bad connection

however, the notary node staking will have priority, so the single large address balance will have the slight edge as far as compounding

[armyman]

Hi James, there is any minimum amount of KMD that needs to be held in order to get stakes? Or any amount is good? (i.e. even 1 token)

What is required instead, in order to become a node? If it is a minimum amount of tokens, how many?

Cheers

There will be two independent ways of staking. The peercoin utxo based and the chances of winning a block depends on the amount of KMD in each utxo along with its coinage. The older it is, the higher chance it has to win, so eventually even small amounts will be able to win a block. Of course, a 1 satoshi utxo will probably never win a block, regardless of how old it is.

The issue of the utxo based staking is that you need to have many utxo if you have a large balance and this creates bloat and starts taking a fair amount of resources to stake. However, it is the time tested way for a decentralized staking and I prefer to use such time tested methods.

The other method is the NXT style that is based on total effective balance. That is the method the notary nodes will use and it wont matter how many utxo you have, though if you are spending them and it is not old enough, it wont have the staking power. There will be a bundle boundary balance that serves as a maximum possible and it is adjusted by any balance changes. This avoids attacks based on moving funds all around to addresses that would win a block. Also after an address gets a payout, it will need to "recharge". This will allow smaller addresses to win blocks.

With approx 1440 blocks per day, 1/1440'th total supply will on average win 1 block per day. So a balance of approx 2000 KMD should get staked once per month. And however long it takes, all the interest will then be paid out.

Anyway, the exact details are still subject to change, but I am working to allow people to passively earn 5% per year without having to do anything, but if so inclined would be able to proactively stake on their node.

Thanks

[bigs21024]

Following this i think this may be a good one to get in on

[AltcoinScamfinder]

Bitcoin is barely ready to accommodate "an investor."  The Winklevoss ETF process is a barometer of that immaturity.

No altcoin is ready for anything beyond the wildest, wooliest-eyed get-rich-quick speculation.

You're here for the pump and dump, and don't care about the tech even if you understood it.

I'm here primarily for intellectual pursuits; intramurals such as trolling scams like BTCD and KoMoDo are just a nice diversion.

Case in point: you guys are having waaay more fun ganging up on me than discussing the (shared) point that "no one is exactly banging down the door to use BTCD."

You really think you are "investing" in BTCD and its convoluted consequent exit scam?  You millennials are so cute sometimes!  

"You millennials are so cute sometimes!" One word: HASHFAST. How did you manage to get your scammer reputation fixed? Seem to remember you being red as a lobster after your shilling for a scam.

I fixed my damaged reputation by being prescient and absolutely correct about many other things, such "XT/Classic will get rekt," "Monero will go to the moon," and the soon to be famous 2015 prediction that "BTCD would be abandoned like ICOscam777's dozens of other unregistered investment schemes."   

I know millennials are incapable of paying attention to anything for more than 30 seconds, but please avail yourself of the latest (IE this year's) developments, rather than relying on ancient rumors and groupthink.

tl;dr Hashfast successfully made the world's fastest mining ASIC and the scam accusations from 2014 went nowhere in both of the court cases where they would be supremely relevant.

But by all means, keep using old debunked urban legends about a bankrupt tech start-up as a cudgel with which to bash me for all eternity.

Your risk-averse, terrified of failure attitude is a perfect example of Generation Snowflake's asinine "we are all winners" gestalt.

Many American and Russian astronauts died screaming in horrible fiery deaths during failed attempts to escape earth's gravity well, but according to your logic they should have just stayed safe at home rather than trying something new and wildly audacious for the sake of advancing mankind.

Best efforts do not entitle anyone to success.  There is honor in making a brave attempt and no shame in failure if it's unavoidable.  That's what you gormless Ritalin junkies don't get, and why you are so fucking worthless.

So what you mean is, you whined to the admins to reset your massive negative rep. Gotcha.

[bitkokos2]

Just bought 100 fresh BTCD and moved them to my wallet 

[Amalgamus]

Just bought 100 fresh BTCD and moved them to my wallet  

I also bought some BTCD but can't have a working wallet. I have only one active connection and 0 blocks downloaded after 3 days of letting the wallet open.

Where did you get your wallet?

On the front page of Bitcoindark.com they announce: "download soon", rather strange for a coin that's been around for some time.

[yassin54]

Just bought 100 fresh BTCD and moved them to my wallet  

I also bought some BTCD but can't have a working wallet. I have only one active connection and 0 blocks downloaded after 3 days of letting the wallet open.

Where did you get your wallet?

On the front page of Bitcoindark.com they announce: "download soon", rather strange for a coin that's been around for some time.

If you need you can download my files here for Windows : https://www.sendspace.com/file/436p0i

[Zubnin]

Just bought 100 fresh BTCD and moved them to my wallet 

There were some epic dumps yesterday. Not that I don't understand why someone doesn't want to wait 3 months, but just to spread 1.5k over entire day would save you around 20%, considering how many people are supporting it. Even sell wall @36 wouldn't hold a day. But what do I know.

[KomodoPlatform]

Announcement!

A lot of people have asked about the translation bounties and bounties in general. We have now decided which bounty programs we will be running, and those are translation bounties and a signature campaign.

We won't have any social media or newsletter bounties as we thought they will not be effective enough considering the amount of money they would require and the risks of abuse they carry. We wish that everyone on our email list is there because they are interested about the technology and not only about a small bounty. Likewise we wish to have an organic social media growth instead of an artificial boost.

Translation bounties

We will have 5 translations, each worth 0.1 BTC. The bounty will be paid in KMD after the ICO. We will translate to the following languages:

 - Spanish (reserved)
 - Chinese (reserved)
 - French (reserved)
 - German (reserved)
 - Portuguese (reserved)

Note that you must be a native speaker to do the translation! We will accept the translation and eventually sent out the bounty only if 3 other native speakers vouch for the text.

One from our own team will do the Portuguese translation, so it is already reserved. The other translations are free for anyone to take, just send us a private message! It would be great if you can explain why you are the right person to do the translation! If there are more than one person looking to do the same translation, we will pick the one who we believe to be more capable.

If you have already expressed your interest earlier in this thread, please send us a private message.

We are sorry but we won't do any other translations than the one's listed above.

Update: All the translations have been reserved

Signature Campaign

We have the designs ready and the signature campaign will begin shortly. More information with all the details will be posted soon.

[umair1123]

all bounty out of my ability , I will wait for the other bounty . tanks

[yassin54]

Announcement!

A lot of people have asked about the translation bounties and bounties in general. We have now decided which bounty programs we will be running, and those are translation bounties and a signature campaign.

We won't have any social media or newsletter bounties as we thought they will not be effective enough considering the amount of money they would require and the risks of abuse they carry. We wish that everyone on our email list is there because they are interested about the technology and not only about a small bounty. Likewise we wish to have an organic social media growth instead of an artificial boost.

Translation bounties

We will have 5 translations, each worth 0.1 BTC. The bounty will be paid in KMD after the ICO. We will translate to the following languages:

 - Spanish (free)
 - Chinese (free)
 - French (free)
 - German (free)
 - Portuguese (reserved)

Note that you must be a native speaker to do the translation! We will accept the translation and eventually sent out the bounty only if 3 other native speakers vouch for the text.

One from our own team will do the Portuguese translation, so it is already reserved. The other translations are free for anyone to take, just send us a private message! It would be great if you can explain why you are the right person to do the translation! If there are more than one person looking to do the same translation, we will pick the one who we believe to be more capable.

If you have already expressed your interest earlier in this thread, please send us a private message.

We are sorry but we won't do any other translations than the one's listed above.

Signature Campaign

We have the designs ready and the signature campaign will begin shortly. More information with all the details will be posted soon.

Tweeted!! https://twitter.com/KomodoPlatform/status/775327596729040896

[yassin54]

You can now subscribe to Komodo newsletter.

http://eepurl.com/cdmTQP

Tweet!! https://twitter.com/KomodoPlatform/status/775351243887763456

[lembang]

follow done,

What email subcribe including bounty?

[KomodoPlatform]

Currently we are only missing one translation: Chinese

follow done,

What email subcribe including bounty?

Hello! Are you asking if we will have an email/newsletter bounty?

Unfortunately no, we won't have any bounties for newsletter or for social media.

[lembang]

Currently we are only missing one translation: Chinese

follow done,

What email subcribe including bounty?

Hello! Are you asking if we will have an email/newsletter bounty?

Unfortunately no, we won't have any bounties for newsletter or for social media.

no available bounty in here?