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

[KomodoPlatform]

Many of you might be wondering what are these "assetchains" and what the heck is "PAX"  

In short, they are all part of the SuperNET's vision to decentralize everything and solve the biggest problems crypto has. These terms might be familiar for those who hang around in SuperNET slack daily, but go a little over the top for the new investors. So what problems are we solving?

> dPoW will secure the weak chains (solves security problems)
> assetchains will create independent assets with their own blockchain (solves blockchain dependency problem)
> atomic swaps (DEX) will create a market for coins and assets in assetchains (solves decentralize exchange)
> PAX will create fiat backed assets, i.e. crypto dollars (solves volatility problem)
> Iguana is the multicoin wallet (solves decentralized wealth storing)

Each PAX asset has its own blockcahin (assetchain), and those are secured by dPoW. Likewise the dPoW will secure all the assets in assetchains and those assets can be sent and stored in a decentralized wallet called Iguana. Each PAX asset and any other asset from assetchains is traded in decentralized exchange thanks to low level Iguana tech and atomic cross-chain swap protocol.

Everything jl777 has been developing ties together into this big ecosystem of decentralized solutions. The different parts need each other and together they will power-up a bigger system that will go head-to-head against the old fiat system. In this vision the dPoW and Komodo play a big role. Whenever you see a mention about BTCD you can replace it with Komodo, as Komodo is the BTCD 2.0. In time, everything that uses BTCD will be using Komodo.

About PAX

You can read about PAX from bitcoindark.com website. It should be about 80% up-to-date info, and gives you a basic understanding about what it is.

Pegged Assets Exchange (PAX) - FAQ

There's also a good infographic about it. However, at last for now the PAX will only have fiat currencies and not gold, silver, etc.

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[farl4web]

GUI design looks nice! Compliments! 

[Wapinter]

A very attractive interface. So much so that I wish the operations of Komodo in the future will also attract many players.

Everything looks highly professional and well managed.I hope this become huge success

[HatakeKakashi]

Where I can buy a komodo coin I want to buy before the ICO ends?
Can anyone give the link .thanks.

[bctacc32]

Where I can buy a komodo coin I want to buy before the ICO ends?
Can anyone give the link .thanks.

https://ico.komodoplatform.com/

[jl777]

for anybody still worried about the toxic waste aspect of zcash:

https://z.cash/blog/the-design-of-the-ceremony.html

apparently the bitmex speculators are satisfied

[HatakeKakashi]

What I put in this "PASSPHASE VERIFICATION
Verify the passphrase you have saved in your backup in the textbox below: "

[Sharky444]

It was written in the Slack. I doubt it´s still there because of the limited stored messages. But i made a screenshot ;-)

The messages are not deleted in slack. They can still be accessed if the owner of the slack channel converts the channel to the paid model.

[NotMyFarm]

some questions
(sorry lost track here for a sec)

- ICO over ?
- when are komodo payouts ? (is there a wallet available ?)
- Notarynodes ? are they like Dash Masternodes ? (payouts and such- anybody can run one ?)

tx

[chousbwxx]

Released a new version of assetchains. (github.com/jl777/assetchains)

Make sure to install parallel to komodo so you end up with:

<dir>/komodo/src
<dir>/assetchains/src

It was a bit tricky to get the bitcoin codebase to run multiple coins at once, but I managed to get it to autospawn a new coin based on just the name. Various things are configurable from the commandline, but only the ac_name parameter is actually needed:

./assetchaind -ac_name=USD

From that, it autogenerates a genesis deterministically so all nodes end up with the identical genesis, it also generates different network magics and ports. By convention the rpc port I made one more than the p2p port.

SuperNET/iguana/tests/assetchains spawns 32 fiat assetchains.

after args: +USD port.10078 magic.b6117643 timestamp.1475772963 supply.10
after args: +EUR port.14589 magic.08b9c7e4 timestamp.1475772963 supply.10
after args: +GBP port.10973 magic.e0b0f630 timestamp.1475772963 supply.10
after args: +CAD port.13695 magic.d64ed952 timestamp.1475772963 supply.10
after args: +AUD port.13873 magic.fb64da69 timestamp.1475772963 supply.10
after args: +CZK port.14981 magic.efc70f59 timestamp.1475772963 supply.10
after args: +JPY port.13756 magic.e940ad14 timestamp.1475772963 supply.10
after args: +NZD port.13030 magic.77a0819b timestamp.1475772963 supply.10
after args: +RBL port.9084 magic.ee5ccbe4 timestamp.1475772963 supply.10
after args: +HUF port.12005 magic.1abb80ca timestamp.1475772963 supply.10
after args: +CNY port.13326 magic.32d0a944 timestamp.1475772963 supply.10
after args: +ZAR port.12883 magic.316df4fc timestamp.1475772963 supply.10
after args: +NOK port.9206 magic.d0aa7a1e timestamp.1475772963 supply.10
after args: +IDR port.12170 magic.527a1d90 timestamp.1475772963 supply.10
after args: +THB port.13565 magic.f78672db timestamp.1475772963 supply.10
after args: +KRW port.8690 magic.3d0c88a6 timestamp.1475772963 supply.10
after args: +MXN port.14948 magic.a705b45e timestamp.1475772963 supply.10
after args: +RUB port.13039 magic.0c676275 timestamp.1475772963 supply.10
after args: +SEK port.15315 magic.3ebba2b7 timestamp.1475772963 supply.10
after args: +HRK port.14554 magic.2b4b6ab0 timestamp.1475772963 supply.10
after args: +PLN port.15636 magic.9d555328 timestamp.1475772963 supply.10
after args: +USD port.10078 magic.b6117643 timestamp.1475772963 supply.10
after args: +DKK port.11814 magic.b9513acc timestamp.1475772963 supply.10
after args: +BGN port.11251 magic.6103fdfd timestamp.1475772963 supply.10
after args: +INR port.14099 magic.a895f51a timestamp.1475772963 supply.10
after args: +HKD port.12993 magic.20f4de39 timestamp.1475772963 supply.10
after args: +PHP port.12283 magic.0336ab4f timestamp.1475772963 supply.10
after args: +MYR port.8529 magic.aa1fd950 timestamp.1475772963 supply.10
after args: +TRY port.14335 magic.cdce41ec timestamp.1475772963 supply.10
after args: +ILS port.10934 magic.eda4a70e timestamp.1475772963 supply.10
after args: +SGD port.10431 magic.9c32dda4 timestamp.1475772963 supply.10
after args: +CHF port.10520 magic.e9820337 timestamp.1475772963 supply.10
after args: +RON port.11150 magic.b5fcd485 timestamp.1475772963 supply.10

With 32 blockchains, it would be a lot of empty blocks, so I have it setup to only mine new blocks when there are transactions. You might notice that the supply for each chain is set to just 10, which is $10 USD for the USD assetchain. This is just to have some coins to test, but the idea is that KMD paxdeposit command is used to deposit coins into the fiat chain.

And so that is what I have working now. A KMD paxdeposit command is monitored by the fiat chain and when seen, it will create the corresponding amount of USD coins. But wait! you say, what is the corresponding amount of USD coins? The answer is in the paxprice command, which will show the KMD cost for each USD.

So a paxdeposit calculates the KMD required to match USD, this then is seen by the USD chain, which issues the USD. USD can then be transacted like bitcoin and even the DEX will work with it once I add the fiat chains into iguana.

Then the withdraw from the fiat chain will work with a paxwithdraw command that is already implemented in the assetchaind. There is still a bit more work needed to do on the komodod side (ie. monitor assetchains and process the withdraw, but it will keep on the blockchain) but for now I am finalizing assetchain changes

Also of note is that assetchaind already integrates dPoW with a relatively easy 5 step process as described in main.cpp:

// dPoW integration steps:
// 0. make sure komodo is installed parallel to this project so ../../komodo/src/komodo.h is right
// 1. include komodo.h with KOMODO_SOURCE being the string of coin symbol
// 2. add extra test to ContextualCheckBlockHeader()
//    else if ( komodo_checkpoint(&notarized_height,nHeight,hash) < 0 )
//        return state.DoS(100, error("%s: forked chain %d older than last notarized (height %d) vs %d", __func__,nHeight, notarized_height));
// 3. call komodo_connectblock(pindex,*(CBlock *)&block) at the end of ConnectBlock()
// 4. call komodo_disconnect(pindex,*(CBlock *)&block) at the start of DisconnectBlock()
// 5. Make sure notarized tx are being made by notaries running iguana notary dapp. replace the notaries.h and komodo_notary.h list if using your own notary nodes.

A lot of code is shared between komodo and assetchains as a lot of the dPoW process is very similar, just with different source/dest, and the processing of komodostate is also very similar.

Next I need to update the iguana notary dapp to do the dPoW for the assetchains to complete the third party chain support of dPoW. I figured it would be cool to have 32 meaningful fiat chains to have as the first dPoW chains. Also REVS can be spawned using the identical code. Currently I dont wait for N confirmations, just so we can test things faster, but of course it will be changed to wait for the transactions to be notarized. That way, we can transact fiat chains at BTC security level.

Before we can scale PAX usage up beyond testing amounts, I will need to add some portfolio balancing code, but all this can and will be done after iguana DEX is supporting the KMD and fiat chains, as that gets us quite a lot of nice functionality.

To do:
1. add third party chain support to iguana notary dapp
2. rebase to zcash mainchain release
3. verify election ratification
4. activate 5% APR
5. iguana DEX support of KMD (ZEC) and fiat chains
6. komodod paxwithdraw and portfolio balancing

Only 2, 3, and 4 are strictly required for komodo mainchain release, but I would like to get all 6 done to avoid any hardforks soon after mainchain release

nice update sir. Thanks

[polycryptoblog]

some questions
(sorry lost track here for a sec)

- ICO over ?
- when are komodo payouts ? (is there a wallet available ?)
- Notarynodes ? are they like Dash Masternodes ? (payouts and such- anybody can run one ?)

tx

1) ICO is still in progress  until November 20th
2) Mainnet will be live 2 weeks after ICO finishes wallet will be available and you will be able to withdrawal your coins then.
3) Anybody can technically be a notary node provided that you have good enough hardware, participate in the #notarynode  channel of the SuperNET slack and receive enough votes when the election is held.   Notary Nodes are different than Dash's Masternodes,  Notary nodes primarily do the mining in Komodo where Dash Masternodes are complementary to Dash mining.

[boomboom]

how many people are offering notary node setup & maintenance services for hire so far?

[Andeze17]

Many of you might be wondering what are these "assetchains" and what the heck is "PAX"  

In short, they are all part of the SuperNET's vision to decentralize everything and solve the biggest problems crypto has. These terms might be familiar for those who hang around in SuperNET slack daily, but go a little over the top for the new investors. So what problems are we solving?

> dPoW will secure the weak chains (solves security problems)
> assetchains will create independent assets with their own blockchain (solves blockchain dependency problem)
> atomic swaps (DEX) will create a market for coins and assets in assetchains (solves decentralize exchange)
> PAX will create fiat backed assets, i.e. crypto dollars (solves volatility problem)
> Iguana is the multicoin wallet (solves decentralized wealth storing)

Each PAX asset has its own blockcahin (assetchain), and those are secured by dPoW. Likewise the dPoW will secure all the assets in assetchains and those assets can be sent and stored in a decentralized wallet called Iguana. Each PAX asset and any other asset from assetchains is traded in decentralized exchange thanks to low level Iguana tech and atomic cross-chain swap protocol.

Everything jl777 has been developing ties together into this big ecosystem of decentralized solutions. The different parts need each other and together they will power-up a bigger system that will go head-to-head against the old fiat system. In this vision the dPoW and Komodo play a big role. Whenever you see a mention about BTCD you can replace it with Komodo, as Komodo is the BTCD 2.0. In time, everything that uses BTCD will be using Komodo.

About PAX

You can read about PAX from bitcoindark.com website. It should be about 80% up-to-date info, and gives you a basic understanding about what it is.

Pegged Assets Exchange (PAX) - FAQ

There's also a good infographic about it. However, at last for now the PAX will only have fiat currencies and not gold, silver, etc.

This was a great explanation. Thanks!

[pufuletz]

Does Komodo come
--without the 20% founder mining reward?
--without that 6 trusted custodians thing?

if so, in what other ways is it better than zcash? any big dev names associated with this?

[Trivelius]

Does Komodo come
--without the 20% founder mining reward?
--without that 6 trusted custodians thing?

if so, in what other ways is it better than zcash? any big dev names associated with this?

You have all the info in front page. 20% founder reward is a scammy practice and Komodo's design has nothing to do with that supply model.

[pufuletz]

Does Komodo come
--without the 20% founder mining reward?
--without that 6 trusted custodians thing?

if so, in what other ways is it better than zcash? any big dev names associated with this?

You have all the info in front page. 20% founder reward is a scammy practice and Komodo's design has nothing to do with that supply model.

and it doesnt come with that trusted custodian thing either?

[KomodoPlatform]

Does Komodo come
--without the 20% founder mining reward?
--without that 6 trusted custodians thing?

if so, in what other ways is it better than zcash? any big dev names associated with this?

Yes, there are no founder mining rewards.

In launch we will sell 90M KMD coins out of the 100M. The remaning 10M is reserved for development, advisers and bounties.

After the launch the Komodo supply will inflate to 200M over 14 years.

The mining is different from Zcash because we are building the dPoW consensus on top of the Zcash equihash PoW mining. This means that the Notary Nodes will do majority of the mining with an easier difficulty, and the other normal nodes will have a higher 'normal difficulty'. Thus it is not economical to mine KMD with normal nodes, but the system ensures that the mining (and the network) continues even if the notary nodes would disappear for some reason.



The Notary Nodes will receive blockrewards and the tx fees.

Anyone holding KMD will receive 5% APR from (like staking awards) when they send a normal non-anon TX. The reward is paid from the last time you sent it. So if you hold 1000 KMD for 6 months without moving them, you would receive the interest once you send them to a new address.

About the trusted setup

There is no way for us to create the parameters more securely than the Zcash team will, thus we will use the same parameters. The topic has been addressed before by jl777, see:
https://bitcointalk.org/index.php?topic=1605144.msg16257692#msg16257692
https://bitcointalk.org/index.php?topic=1605144.msg16352842#msg16352842
https://bitcointalk.org/index.php?topic=1605144.msg16636554#msg16636554

Also the Zcash blog posts are relevant:
https://z.cash/blog/generating-zcash-parameters.html
https://z.cash/blog/the-design-of-the-ceremony.html

We don't see ourselves competing with Zcash. We are simply using their privacy technology because it is the best technology available. We expect there to be many Zcash forks, and we are just the first one. Many different projects require privacy, and that's why they too are an open source project ... so different projects can utilize their technology.

Here's what jl777 things about competition with Zcash: https://bitcointalk.org/index.php?topic=1605144.msg16592269#msg16592269

But what makes us different from Zcash? From privacy standpoint: none. However there are two major things, 1) we have the new dPoW consensus mechanism that can be used by third party blockchains as an additional security layer, 2) Komodo integrates and is used by the overall SuperNET technology / ecosystem.

We have one quite famous developer: jl777. He's the lead developer of SuperNET, Iguana, and Komodo. Recently he came up with a way to describe these three things very simply: "SuperNET is the vision, iguana is the software, komodo is the coin".

[pufuletz]

Yes, there are no founder mining rewards.

In launch we will sell 90M KMD coins out of the 100M. The remaning 10M is reserved for development, advisers and bounties.

So in immediate term, Zcash founders/dev/etc. team get 20% of available coins Komodo founder/dev/etc. team get 10% of available coins?

After the launch the Komodo supply will inflate to 200M over 14 years.

The mining is different from Zcash because we are building the dPoW consensus on top of the Zcash equihash PoW mining. This means that the Notary Nodes will do majority of the mining with an easier difficulty, and the other normal nodes will have a higher 'normal difficulty'. Thus it is not economical to mine KMD with normal nodes, but the system ensures that the mining (and the network) continues even if the notary nodes would disappear for some reason.

What's the difference between regular and notary nodes? Does zcash have notary nodes?

The Notary Nodes will receive blockrewards and the tx fees.

who becomes a notary node?

[jl777]

I would like to welcome ca333 to the komodo technical team. He will be in charge of security and will be doing regular audits on the codebase and APIs. He has also come up with a novel solution, but I will let him introduce himself more.

[yassin54]

I would like to welcome ca333 to the komodo technical team. He will be in charge of security and will be doing regular audits on the codebase and APIs. He has also come up with a novel solution, but I will let him introduce himself more.

Welcome @ca333!!