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

[jl777]

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon

1) BTCD isnt mined, it gets 5% APR via staking

2) the mining by notary nodes is designed to pay for the costs of running the notary node.

With KMD, the plan is to payout accrued interest (max weekly) whenever you spend an output. So the 5% from 1) is achieved without any need for staking.

[jd1959]

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon

1) BTCD isnt mined, it gets 5% APR via staking

2) the mining by notary nodes is designed to pay for the costs of running the notary node.

With KMD, the plan is to payout accrued interest (max weekly) whenever you spend an output. So the 5% from 1) is achieved without any need for staking.

OK so I get my 5% APR only when i spend it, I can't stake it? sorry if I seem stupid but i confuse staking and mining

Cheers Jon

[jl777]

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon

1) BTCD isnt mined, it gets 5% APR via staking

2) the mining by notary nodes is designed to pay for the costs of running the notary node.

With KMD, the plan is to payout accrued interest (max weekly) whenever you spend an output. So the 5% from 1) is achieved without any need for staking.

OK so I get my 5% APR only when i spend it, I can't stake it? sorry if I seem stupid but i confuse staking and mining

Cheers Jon

KMD doesnt have staking built in and utxo based staking adds a lot of blockchain bloat, NXT based staking adds a lot of extra work and both increase chance of bugs.

my opinion is that spend based accrued interest payments is the lowest footprint method to reward the 5% APR and ultimately I think that is what people care about, ie. getting their 5%

you are earning the 5% automatically, all the time.

[CryptoSporidium]

Did the dev team ever consider using Zcoin over Zcash?

you must be kidding.

why would we choose an obsolete 3 year old libzerocoin implementation that has significant bloat issues?

it would be like choosing an Intel 8080 CPU over Xeon

so no, never considered zcoin

I was thinking more of how parameter generation happens in both, I just read this comparison,

http://blog.zcoin.tech/zcoin-and-zcash/

[jd1959]

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon

1) BTCD isnt mined, it gets 5% APR via staking

2) the mining by notary nodes is designed to pay for the costs of running the notary node.

With KMD, the plan is to payout accrued interest (max weekly) whenever you spend an output. So the 5% from 1) is achieved without any need for staking.

OK so I get my 5% APR only when i spend it, I can't stake it? sorry if I seem stupid but i confuse staking and mining

Cheers Jon

KMD doesnt have staking built in and utxo based staking adds a lot of blockchain bloat, NXT based staking adds a lot of extra work and both increase chance of bugs.

my opinion is that spend based accrued interest payments is the lowest footprint method to reward the 5% APR and ultimately I think that is what people care about, ie. getting their 5%

you are earning the 5% automatically, all the time.

Does this mean that I can't accrue the 5% APR and end up with more? I only get my 5% APR when I spend them(coins that I own in local wallet)?

Cheers Jon 

[yassin54]

Komodo Dev Blog: Notarized Data is Written to BTC Blockchain.

https://komodoplatform.com/notarized-data-is-written-to-btc-blockchain/

Tweet: https://twitter.com/KomodoPlatform/status/785440754663624704

Reddit Komodo : https://www.reddit.com/r/komodoplatform/comments/56ri6w/komodo_dev_blog_notarized_data_is_written_to_btc/

Reddit Cryptocurrency : https://www.reddit.com/r/CryptoCurrency/comments/56ri74/komodo_dev_blog_notarized_data_is_written_to_btc/

Reddit Bitcoin : https://www.reddit.com/r/btc/comments/56ri7h/komodo_dev_blog_notarized_data_is_written_to_btc/

Facebook : https://www.facebook.com/KomodoPlatform/posts/344095299270381

News SuperNET : http://news.supernet.org/posts/PzqvrbHzMSrDJ76fJ/komodo-dev-blog-notarized-data-is-written-to-btc-blockchain

[jl777]

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon

1) BTCD isnt mined, it gets 5% APR via staking

2) the mining by notary nodes is designed to pay for the costs of running the notary node.

With KMD, the plan is to payout accrued interest (max weekly) whenever you spend an output. So the 5% from 1) is achieved without any need for staking.

OK so I get my 5% APR only when i spend it, I can't stake it? sorry if I seem stupid but i confuse staking and mining

Cheers Jon

KMD doesnt have staking built in and utxo based staking adds a lot of blockchain bloat, NXT based staking adds a lot of extra work and both increase chance of bugs.

my opinion is that spend based accrued interest payments is the lowest footprint method to reward the 5% APR and ultimately I think that is what people care about, ie. getting their 5%

you are earning the 5% automatically, all the time.

Does this mean that I can't accrue the 5% APR and end up with more? I only get my 5% APR when I spend them(coins that I own in local wallet)?

Cheers Jon 

send it to yourself if you want to

[jl777]

Did the dev team ever consider using Zcoin over Zcash?

you must be kidding.

why would we choose an obsolete 3 year old libzerocoin implementation that has significant bloat issues?

it would be like choosing an Intel 8080 CPU over Xeon

so no, never considered zcoin

I was thinking more of how parameter generation happens in both, I just read this comparison,

http://blog.zcoin.tech/zcoin-and-zcash/

You mean "Zcoin uses parameters generated 25 years ago from the RSA Factoring Challenge." those "secure" parameters??

If you would rather trust parameters generated by a single entity that has been caught putting backdoors into encryption, then that is your choice. Keep in mind that if anybody in the 25 years has gotten a hold of the RSA factoring parameters, it is compromised. What assurance is there that it hasnt been compromised?

As opposed to zcash which will use a carefully thought out parallel oblivious transfer method with a peer reviewed research paper where all participants need to be compromised.

We might as well compare zcash to ring signatures.

There is a lot of FUD against zcash parameters, but nobody has described to me how all the zcash parameter creation participants will be fooled into running the mystery laptop gift that just arrived in the mail. Or that they can all be bought. Or all their systems can be compromised.

It is not that any one of them can be compromised to compromise the parameters. ALL participants need to be compromised.

Please dont fall for the marketing tactics of a coin that intentionally changed their name to be confused with zcash. If they had good tech, then why this intentional creation of confusion? Unfortunately a lot of people will probably think zcoin is zcash, but please dont be one of them. zcoin is bragging that "their" libzerocoin has been around for 3 years vs. zcash 1 year. Of course they dont make it clear that libzerocoin was written by the zcash team and REJECTED as not ready for end users and they created zcash to solve these problems.

Its like rummaging in the trash and finding someone's used computer and then saying "your" used computer is as good as the brand new one that replaced it. since the new one hasnt been around as long.

[CryptoSporidium]

Did the dev team ever consider using Zcoin over Zcash?

you must be kidding.

why would we choose an obsolete 3 year old libzerocoin implementation that has significant bloat issues?

it would be like choosing an Intel 8080 CPU over Xeon

so no, never considered zcoin

I was thinking more of how parameter generation happens in both, I just read this comparison,

http://blog.zcoin.tech/zcoin-and-zcash/

You mean "Zcoin uses parameters generated 25 years ago from the RSA Factoring Challenge." those "secure" parameters??

If you would rather trust parameters generated by a single entity that has been caught putting backdoors into encryption, then that is your choice. Keep in mind that if anybody in the 25 years has gotten a hold of the RSA factoring parameters, it is compromised. What assurance is there that it hasnt been compromised?

As opposed to zcash which will use a carefully thought out parallel oblivious transfer method with a peer reviewed research paper where all participants need to be compromised.

We might as well compare zcash to ring signatures.

There is a lot of FUD against zcash parameters, but nobody has described to me how all the zcash parameter creation participants will be fooled into running the mystery laptop gift that just arrived in the mail. Or that they can all be bought. Or all their systems can be compromised.

It is not that any one of them can be compromised to compromise the parameters. ALL participants need to be compromised.

Good points, I'm still trying to get my mind around things. Which organisation created the Zcoin parameters 25 years ago? That is the key 'trust' point in Zcoin

[jl777]

Did the dev team ever consider using Zcoin over Zcash?

you must be kidding.

why would we choose an obsolete 3 year old libzerocoin implementation that has significant bloat issues?

it would be like choosing an Intel 8080 CPU over Xeon

so no, never considered zcoin

I was thinking more of how parameter generation happens in both, I just read this comparison,

http://blog.zcoin.tech/zcoin-and-zcash/

You mean "Zcoin uses parameters generated 25 years ago from the RSA Factoring Challenge." those "secure" parameters??

If you would rather trust parameters generated by a single entity that has been caught putting backdoors into encryption, then that is your choice. Keep in mind that if anybody in the 25 years has gotten a hold of the RSA factoring parameters, it is compromised. What assurance is there that it hasnt been compromised?

As opposed to zcash which will use a carefully thought out parallel oblivious transfer method with a peer reviewed research paper where all participants need to be compromised.

We might as well compare zcash to ring signatures.

There is a lot of FUD against zcash parameters, but nobody has described to me how all the zcash parameter creation participants will be fooled into running the mystery laptop gift that just arrived in the mail. Or that they can all be bought. Or all their systems can be compromised.

It is not that any one of them can be compromised to compromise the parameters. ALL participants need to be compromised.

Good points, I'm still trying to get my mind around things. Which organisation created the Zcoin parameters 25 years ago? That is the key 'trust' point in Zcoin

RSA
you are putting your trust in RSA
the same one as in this article: http://arstechnica.com/security/2013/12/report-nsa-paid-rsa-to-make-flawed-crypto-algorithm-the-default/

[CryptoSporidium]

Did the dev team ever consider using Zcoin over Zcash?

you must be kidding.

why would we choose an obsolete 3 year old libzerocoin implementation that has significant bloat issues?

it would be like choosing an Intel 8080 CPU over Xeon

so no, never considered zcoin

I was thinking more of how parameter generation happens in both, I just read this comparison,

http://blog.zcoin.tech/zcoin-and-zcash/

You mean "Zcoin uses parameters generated 25 years ago from the RSA Factoring Challenge." those "secure" parameters??

If you would rather trust parameters generated by a single entity that has been caught putting backdoors into encryption, then that is your choice. Keep in mind that if anybody in the 25 years has gotten a hold of the RSA factoring parameters, it is compromised. What assurance is there that it hasnt been compromised?

As opposed to zcash which will use a carefully thought out parallel oblivious transfer method with a peer reviewed research paper where all participants need to be compromised.

We might as well compare zcash to ring signatures.

There is a lot of FUD against zcash parameters, but nobody has described to me how all the zcash parameter creation participants will be fooled into running the mystery laptop gift that just arrived in the mail. Or that they can all be bought. Or all their systems can be compromised.

It is not that any one of them can be compromised to compromise the parameters. ALL participants need to be compromised.

Good points, I'm still trying to get my mind around things. Which organisation created the Zcoin parameters 25 years ago? That is the key 'trust' point in Zcoin

RSA
you are putting your trust in RSA
the same one as in this article: http://arstechnica.com/security/2013/12/report-nsa-paid-rsa-to-make-flawed-crypto-algorithm-the-default/

A smoking gun ... ok,  Zcoin isn't water tight, which makes it easier to pick which implementation is better, thanks james

[BadAss.Sx]

Now anyone can control one of the 64 nodes which are needed for the Komodo Notary Network.

I have for rent:

6 (or 8, when i'm not getting elected) BadAss Notary Node incl. colo in a bulletproof location in the Netherlands.
A node can also be swapped with one of the servers in another geographic region!

1 x Intel Xeon L5520 (4 cores/8 threads) you can use 2 threads for Komodod and 2 for Bitcoind and others for administrative tasks.
64GB memory
1 x 500GB Samsung Enterprise SSD (no consumer version)
15TB bandwidth
1 x IPv4 addresses
KVM access and control panel
Installed with preferrable Linux distro

200USD per month in BTC (3 months up front)

I can fully secure the server and install everything for you for a fee if you don't know how to do that (one time 100usd). It is also possible that i manage the server for a fee (25usd per month)

My DC has an uptime of 99.9% (in reality it is 100%). jl777, BTCDdev and others can confirm this. All servers are directly connected to the AMS-IX backbones.

Keep in mind, you'll get 500usd per month in KMD & BTC (if KMD are not 500usd worth at that time). So a profit of 300USD. 200USD you pay me in BTC.

3 months up front, after that payment per month or annually (with discount 1 month FREE).

You rent the server ANONYMOUS. But please, don't think you can abuse the server. Phishing, spam mailruns, kiddyporn and terrorism is strictly forbidden!!

When payment is not received at the first week of a new month, the power goes down and you lose the right to be the owner of the node. A new owner will get elected and the pubkey will be changed on the notary node list.

ELECTION (READ THIS!)

Only elected people can get a spot. Server admins will get elected by the shareholders. This means that you can still be on the list for a spot, even when i already have 6 clients. If they won't get elected their spot comes available again. So I am looking for 14 possible clients.

You only pay when you get elected! So, basically this offer is a no brainer. Get elected and earn 300usd per month!

CURRENT LIST:

- yassinnxt
- pondsea
- stenkross
- proto
- Killakem
- Durerus
- farl4bit
- bitcoinuserx (reserve)
- polycryptoblog (reserve)
- (reserve)
- (reserve)
- (reserve)
- (reserve)
- (reserve)

Only 1 spot per client

Q&A

- What do i need to do when i get elected?
Setup the server as a Komodo Notary Node, sit back and relax. Of course you have to secure the server so do your maintenance and updates.

- How do I get elected?
I don't know. Do a trump campaign, act crazy like Clinton or hug the shareholders? It's all up to you. Or read this https://bitcointalk.org/index.php?topic=1605144.msg16450895#msg16450895

- Is it really free money?
Well..uhm yeah. Get elected, run the node, receive Komodo's and there it is. Free money.

- What if the Komodo's are not worth the 500usd?
jl777 will give the rest in BTC from the ICO funds.

- Ok, i'm in, what to do?
Write a message in this topic why you want the node. And if you trust me up front, write me a trust review on BCT.

- What is BadAss Security Services?

BadAss (me) is a privacy and security consultant and specialised in being paranoia. BadAss does not like Tor services and so called anonymous VPN providers. BadAss provides co-location servers for all kinds of blockchain projects.

BadAss stands for an open and free internet and provides different services to support that noble thought. Like for instance:

Bulletproof VPS https://www.badass.sx
Bulletproof VPN https://www.rootvpn.eu
Encrypted Email Service https://www.safe-mail.eu
Bulletproof Blockchain Nodes
Anonymous domain registration
Anonymous DNS servers
SSL certificates
Installations of all kinds of services

BadAss cares about your privacy. For all of our services we only need your name and BTC payment.

We will make the internet GREAT again!!!

List updated

Servers are ready. All first 7 spots are noticed about it. Still spots left so hurry up

[farl4web]

@BadAss Good to be on the list, but can you change my name? It's farl4bit.

[Ai7xpressTV]

Komodo ICO will start in 5 days, are you ready to take part in the project.?

[sambiohazard]

I am ready with my BTCD!!

[BadAss.Sx]

I am ready with my BTCD!!

Then you have to wait

[sambiohazard]

yeah until after ICO but those are free BTCD after trading profits so i dont mind

[jahl]

I am sitting this one out. I am sure the ICO will go just fine. It would have been ideal if there were just a swap of BTCD and allow Notary Nodes to start mining blocks with dPoW. Then the Notary Nodes get paid by selling their coins or they keep them and speculate. Now would be the time to rethink using an ICO. The swap of BTCD would make the value the same to start or cause buying in the market right now raising the price, and at that point if you want 200M coins you raise the Block reward. I just don't see why KMD needs so many coins. Since the devs need payment, instead of an ICO just have a premine for the 10%.  Then miners have incentive to mine the rest and support the network and the original BTCD holders don't get diluted initially 1.2M to 100M-200M even with the 25% it makes them a fraction of the new network. Transactions would have tx's fees to pay the BTC fees etc.

Please read the post that james wrote on why the ICO fundraiser is neccessary. If it was that easy it would have been done.

What happens if no one sends BitCoin in for the ICO? What is the minimum to start the coin?

Angel investors appear to have provided enough for the minimum already, so no worries on this

this is great to hear, good start 

[Skatebird]

Watching this project very seriously

[kennyP]

Now anyone can control one of the 64 nodes which are needed for the Komodo Notary Network.

I have for rent:

6 (or 8, when i'm not getting elected) BadAss Notary Node incl. colo in a bulletproof location in the Netherlands.
A node can also be swapped with one of the servers in another geographic region!

1 x Intel Xeon L5520 (4 cores/8 threads) you can use 2 threads for Komodod and 2 for Bitcoind and others for administrative tasks.
64GB memory
1 x 500GB Samsung Enterprise SSD (no consumer version)
15TB bandwidth
1 x IPv4 addresses
KVM access and control panel
Installed with preferrable Linux distro

200USD per month in BTC (3 months up front)

I can fully secure the server and install everything for you for a fee if you don't know how to do that (one time 100usd). It is also possible that i manage the server for a fee (25usd per month)

My DC has an uptime of 99.9% (in reality it is 100%). jl777, BTCDdev and others can confirm this. All servers are directly connected to the AMS-IX backbones.

Keep in mind, you'll get 500usd per month in KMD & BTC (if KMD are not 500usd worth at that time). So a profit of 300USD. 200USD you pay me in BTC.

3 months up front, after that payment per month or annually (with discount 1 month FREE).

You rent the server ANONYMOUS. But please, don't think you can abuse the server. Phishing, spam mailruns, kiddyporn and terrorism is strictly forbidden!!

When payment is not received at the first week of a new month, the power goes down and you lose the right to be the owner of the node. A new owner will get elected and the pubkey will be changed on the notary node list.

ELECTION (READ THIS!)

Only elected people can get a spot. Server admins will get elected by the shareholders. This means that you can still be on the list for a spot, even when i already have 6 clients. If they won't get elected their spot comes available again. So I am looking for 14 possible clients.

You only pay when you get elected! So, basically this offer is a no brainer. Get elected and earn 300usd per month!

CURRENT LIST:

- yassinnxt
- pondsea
- stenkross
- proto
- Killakem
- Durerus
- Frl4web
- bitcoinuserx (reserve)
- (reserve)
- (reserve)
- (reserve)
- (reserve)
- (reserve)
- (reserve)

Only 1 spot per client

Q&A

- What do i need to do when i get elected?
Setup the server as a Komodo Notary Node, sit back and relax. Of course you have to secure the server so do your maintenance and updates.

- How do I get elected?
I don't know. Do a trump campaign, act crazy like Clinton or hug the shareholders? It's all up to you. Or read this https://bitcointalk.org/index.php?topic=1605144.msg16450895#msg16450895

- Is it really free money?
Well..uhm yeah. Get elected, run the node, receive Komodo's and there it is. Free money.

- What if the Komodo's are not worth the 500usd?
jl777 will give the rest in BTC from the ICO funds.

- Ok, i'm in, what to do?
Write a message in this topic why you want the node. And if you trust me up front, write me a trust review on BCT.

- What is BadAss Security Services?

BadAss (me) is a privacy and security consultant and specialised in being paranoia. BadAss does not like Tor services and so called anonymous VPN providers. BadAss provides co-location servers for all kinds of blockchain projects.

BadAss stands for an open and free internet and provides different services to support that noble thought. Like for instance:

Bulletproof VPS https://www.badass.sx
Bulletproof VPN https://www.rootvpn.eu
Encrypted Email Service https://www.safe-mail.eu
Bulletproof Blockchain Nodes
Anonymous domain registration
Anonymous DNS servers
SSL certificates
Installations of all kinds of services

BadAss cares about your privacy. For all of our services we only need your name and BTC payment.

We will make the internet GREAT again!!!

List updated

I would like to apply for a spot.