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

[Bannedseller]

Seems very interesting project. Following this project

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[yassin54]

We have created a Facebook page! Like us! 

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Tweeted!! https://twitter.com/KomodoPlatform/status/776508192637550592

[KomodoPlatform]

Does SuperNet NAV hold Zcash?

SuperNET holds many things, but looks like Zcash is not on the list.

http://www.supernet.org/nav.php

[jl777]

Does SuperNet NAV hold Zcash?

There is no ZEC until Oct.28th

I dont count cash settled futures markets

[LiskEnterprise]

Does SuperNet NAV hold Zcash?

There is no ZEC until Oct.28th

I dont count cash settled futures markets

Understood.

Did SuperNet invest into Zcash ICO?

SO will something show on coin release?

[jl777]

Does SuperNet NAV hold Zcash?

There is no ZEC until Oct.28th

I dont count cash settled futures markets

Understood.

Did SuperNet invest into Zcash ICO?

SO will something show on coin release?

There was no ICO for zcash...

and SuperNET wasnt any of the early investors, though I definitely would have if I had been given the chance

So only way to get it is by mining or on the open market, but I expect both of those methods to be quite expensive. The diff on testnet is already quite high and that is for testnet, cant estimate the mining that will be there during the slow start.

I had estimated a 0.1 BTC price for ZEC during the early days, but based on the futures trading today up to .075 I think I will need to revise that upward

[LiskEnterprise]

Does SuperNet NAV hold Zcash?

There is no ZEC until Oct.28th

I dont count cash settled futures markets

Understood.

Did SuperNet invest into Zcash ICO?

SO will something show on coin release?

There was no ICO for zcash...

and SuperNET wasnt any of the early investors, though I definitely would have if I had been given the chance

So only way to get it is by mining or on the open market, but I expect both of those methods to be quite expensive. The diff on testnet is already quite high and that is for testnet, cant estimate the mining that will be there during the slow start.

I had estimated a 0.1 BTC price for ZEC during the early days, but based on the futures trading today up to .075 I think I will need to revise that upward

Ok cool so the best entry to the Zcash tech is right here

[PondSea]

Yes plus all the other tech that will be rolled into it.

[bv68bot]

What % of KMD supply is PoW, or is 100% ico from genesis? Is there a tail emission like xmr?

[jl777]

What % of KMD supply is PoW, or is 100% ico from genesis? Is there a tail emission like xmr?

After ICO it is half the lifetime emission.

After that, stakes get 5% per year, plus there is a blockreward starting at 3KMD, with halvings.

When coin supply reaches 200 mil, it will just be txfees, but that wont be for over 10 years

There is a backup block generation method using equihash PoW, but this will only be used when there are no notary nodes. In order to allow both methods to coexist, similar to how peercoin allows PoW and PoS to coexist, the notary side will be given priority.

I guess if there is an extremely large amount of hashpower, even in the presence of notary nodes, the PoW could generate a block, but I doubt it would make economic sense unless KMD price goes to much higher levels than expected.

For the hardware/miner peoples, the way to earn KMD is by running one of the 64 notary nodes. Payouts will be calibrated to be around $500 per month per notary node, so in the even the KMD block rewards are not sufficient, payments to the notary nodes will be made in BTC to make up the difference.

Right after the ICO is completed, we will have elections to select the 64 notary node operators. I am currently working on the voting system and this will be the first thing we need to do after genesis. Between genesis and the notary nodes coming online is the only pure PoW period that is expected.

[bv68bot]

What % of KMD supply is PoW, or is 100% ico from genesis? Is there a tail emission like xmr?

After ICO it is half the lifetime emission.

After that, stakes get 5% per year, plus there is a blockreward starting at 3KMD, with halvings.

When coin supply reaches 200 mil, it will just be txfees, but that wont be for over 10 years

There is a backup block generation method using equihash PoW, but this will only be used when there are no notary nodes. In order to allow both methods to coexist, similar to how peercoin allows PoW and PoS to coexist, the notary side will be given priority.

I guess if there is an extremely large amount of hashpower, even in the presence of notary nodes, the PoW could generate a block, but I doubt it would make economic sense unless KMD price goes to much higher levels than expected.

For the hardware/miner peoples, the way to earn KMD is by running one of the 64 notary nodes. Payouts will be calibrated to be around $500 per month per notary node, so in the even the KMD block rewards are not sufficient, payments to the notary nodes will be made in BTC to make up the difference.

Right after the ICO is completed, we will have elections to select the 64 notary node operators. I am currently working on the voting system and this will be the first thing we need to do after genesis. Between genesis and the notary nodes coming online is the only pure PoW period that is expected.

Thanks for comprehensive answer, your model is very well thought out. Will there be some minimum stake required to run a notary node like dash, or is the vote the single determinant? How notary node operators are selected and governed to keep komodo decentralised will be critical, I look forward to more details on that when you have them.

[jl777]

What % of KMD supply is PoW, or is 100% ico from genesis? Is there a tail emission like xmr?

After ICO it is half the lifetime emission.

After that, stakes get 5% per year, plus there is a blockreward starting at 3KMD, with halvings.

When coin supply reaches 200 mil, it will just be txfees, but that wont be for over 10 years

There is a backup block generation method using equihash PoW, but this will only be used when there are no notary nodes. In order to allow both methods to coexist, similar to how peercoin allows PoW and PoS to coexist, the notary side will be given priority.

I guess if there is an extremely large amount of hashpower, even in the presence of notary nodes, the PoW could generate a block, but I doubt it would make economic sense unless KMD price goes to much higher levels than expected.

For the hardware/miner peoples, the way to earn KMD is by running one of the 64 notary nodes. Payouts will be calibrated to be around $500 per month per notary node, so in the even the KMD block rewards are not sufficient, payments to the notary nodes will be made in BTC to make up the difference.

Right after the ICO is completed, we will have elections to select the 64 notary node operators. I am currently working on the voting system and this will be the first thing we need to do after genesis. Between genesis and the notary nodes coming online is the only pure PoW period that is expected.

Thanks for comprehensive answer, your model is very well thought out. Will there be some minimum stake required to run a notary node like dash, or is the vote the single determinant? How notary node operators are selected and governed to keep komodo decentralised will be critical, I look forward to more details on that when you have them.

The notary nodes will earn KMD, no KMD is needed to be elected, though it could be the voters will give more preference to known and large KMD stakeholders.

The notary nodes are elected by stake. A somewhat arbitrary division of the geolocation into 4 areas: North America, Europe, Asia, Southern Hemisphere will be used to ensure no over concentration in any specific region of the world.

Each notary operator could run up to 1 node per region, if they win of course. For anybody to try to get more than one spot, they would need to pass the turing test in realtime as the notary operators will actively cooperate with each other and also there will be a certification tests to verify hardware performance.

With 16 notaries in each of the 4 areas, we end up with 4 elections in parallel for the 16 spots. So each voter can vote 4 times, once per region. Of course a person's stake will allow voting for that many spots and this is one of the reasons for a large scale ICO, to ensure as wide of a stakeholder base as possible, without any large concentration of voting power.

However, with the separation of powers, the notary nodes are able to create blocks and earn the block reward and also determine which valid tx are included in a block. However, they wont have any powers to spend any funds that are not theirs. And unless a majority of nodes are compromised, the notary process is not affected. Of course, any misbehaving notary will be detected and soon be replaced.

As with any crypto, any 51% control leads to a failure mode, but with dPoW any such majority control of notaries would be temporary. If somebody is able to accumulate 51% of all KMD, then we assume that they wont have the motivation to damage.

[altcoinrich]

Want to hear bounty info. Please specify them.

[KomodoPlatform]

Want to hear bounty info. Please specify them.

We had translation bounties, those are all now reserved.

We will have a signature campaign that will begin shortly: today or tomorrow at the latest.

[KomodoPlatform]

Thanks for comprehensive answer, your model is very well thought out. Will there be some minimum stake required to run a notary node like dash, or is the vote the single determinant? How notary node operators are selected and governed to keep komodo decentralised will be critical, I look forward to more details on that when you have them.

Like jl777 already explained there won't be any minimum stake required, but the notary nodes have to meet certain requirements. Earlier jl777 had estimated the following:

- 64 GB RAM
- 300GB SSD
- ddos protection via second node
- good bandwidth

On top of those you must get enough votes from the KMD stakeholders to get elected to run a notary node. So you will have to campaign and assure that you are the best person to run a notary node.

[jl777]

Thanks for comprehensive answer, your model is very well thought out. Will there be some minimum stake required to run a notary node like dash, or is the vote the single determinant? How notary node operators are selected and governed to keep komodo decentralised will be critical, I look forward to more details on that when you have them.

Like jl777 already explained there won't be any minimum stake required, but the notary nodes have to meet certain requirements. Earlier jl777 had estimated the following:

- 64 GB RAM
- 300GB SSD
- ddos protection via second node
- good bandwidth

On top of those you must get enough votes from the KMD stakeholders to get elected to run a notary node. So you will have to campaign and assure that you are the best person to run a notary node.

I plan to benchmark each candidate's servers and that info would be made part of the election process, along with any candidate statements, their stake, etc.

Thinking through the voting process, which clearly is quite important, I think a lot of voters wont feel comfortable voting on what is a somewhat technical matter. It is one thing to vote based on the location of a node, but how to compare technical differences?

So, what I have come up with is 3 different ways to vote.
1) direct voting
2) random vote
3) voting for a representative who is direct voting

Unlike with normal elections (well maybe for those too), there is value in voting for a random candidate. this prevents concentration of power. Not sure if I will have time to create the two stage representative system, but maybe it wont be that much work to have specific addresses commit to making a direct vote. Given that commitment, then others can just give their voting power to such a representative.

In the event a representative doesnt vote or in turn uses a representative, can probably just fallback to random vote. That avoids infinite loops of dependencies and prevents loss of voting power.

Now is the time to speak up if you have ideas on voting as I am working on it.

[StratisKing]

Want to hear bounty info. Please specify them.

We had translation bounties, those are all now reserved.

We will have a signature campaign that will begin shortly: today or tomorrow at the latest.

Is the Chinese on reserved? I want to translate English into Chinese, just reserve it. thanks.

[KomodoPlatform]

Want to hear bounty info. Please specify them.

We had translation bounties, those are all now reserved.

We will have a signature campaign that will begin shortly: today or tomorrow at the latest.

Is the Chinese on reserved? I want to translate English into Chinese, just reserve it. thanks.

Sorry it's already translated! All the languages are now reserved and most already translated.

[Sir loin]

Question about BTCD swap:
I understood that all of those 90% of KMD will be sold for BTC/BTCD investors, but how do you guys know how much KMD:s will be given to BTC investors, since you don't know how many BTCD owners will swap in 1 year swapping period? Or do you plan to wait 1 year and then share the percents, when we know how much to give BTC investors and how many to BTCD swappers?

James I have another question.
There are going to be 100 million KMD for ICO
Let's say (in simple way) there are 1000 people who give 1 BTC each. Will they get 100,000 KMD each (100 million / 1000)
and if there are 30000 people who give 1 BTC each they get 3333 KMD each?

In other words all of those 100 million will go to those who buy?

90 % of the Komodo coins are distributed to investors (BTC+BTCD)
10 % will be reserved for development, advisers and bounties

So yes, you got the basic idea! The supply is fixed, but we don't know yet how much money Komodo raises.

*snip*

We will assume all the BTCD will be redeemed. If after a year it isnt, it would just go into working capital

There is something here I can't wrap my head around... even tho it seems it has been explained quite a lot, but still is convoluted like shit. (!)

Exactly how much KMD of the 90m are going to be reserved to BTCD holders?

If it is assumed all BTCD will be redeemed, (1,286,569*0.0053=6818 BTC) and 7k BTC are collected,

1.- Isn´t that unfair for BTC investors, who will get the bonus only if they risk investing during the ICO, and on top of that they will be the ones financing the project with real cash (BTC), and not some illiquid coin with no volume nor demand not to talk about future?

2.- What if 30k BTC are collected?

3.- Is then the real limit of BTC collected 36818 BTC or is it 23182 BTC ? (30k - 6818  = 23182 BTC)

If it is the former the dilution will be even more damaging for BTC investors, increasing their risk to lose money (!)

4.- Why is that real limit not especified in the OP?

5.- Isn´t that a sneaky way to dilute BTC investors stake (!) and having more working capital than the 10% stated?

(we know statistically there is going ot be an important chunk of ppl who wont swap their BTCD, either they died, lost control over the coins, simply forgot they have them etc,.)

6.- Why not limit the amount of KMD available to swap for BTCD and the time to do the actual swap as is done with BTC investors? Wouldn´t be that more fair?

[BitcoinOnFire]

What's your problem man? Got problem with not having BTCD? - buy some. You welcome.

There is something here I can't wrap my head around... even tho it seems it has been explained quite a lot, but still is convoluted like shit. (!)

Exactly how much KMD of the 90m are going to be reserved to BTCD holders?

If it is assumed all BTCD will be redeemed, (1,286,569*0.0053=6818 BTC) and 7k BTC are collected,

1.- Isn´t that unfair for BTC investors, who will get the bonus only if they risk investing during the ICO, and on top of that they will be the ones financing the project with real cash (BTC), and not some illiquid coin with no volume nor demand not to talk about future?

2.- What if 30k BTC are collected?

3.- Is then the real limit of BTC collected 36818 BTC or is it 23182 BTC ? (30k - 6818  = 23182 BTC)

If it is the former the dilution will be even more damaging for BTC investors, increasing their risk to lose money (!)

4.- Why is that real limit not especified in the OP?

5.- Isn´t that a sneaky way to dilute BTC investors stake (!) and having more working capital than the 10% stated?

(we know statistically there is going ot be an important chunk of ppl who wont swap their BTCD, either they died, lost control over the coins, simply forgot they have them etc,.)

6.- Why not limit the amount of KMD available to swap for BTCD and the time to do the actual swap as is done with BTC investors? Wouldn´t be that more fair?