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

[ca333]

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.

Thank you for this exciting opportunity!

about me: I have worked multiple years in the field of IT-security, network security and network-based software development (relay services, div. detection system, and so on). In the last years i was involved in a few scientifc projects. I like pentesting software and network services. First and foremost i love reviewing and securing decentralized software and blockchain-based technologies. I found my calling in this. And i am very proud and feel honored to be part of such exciting projects and milestones in the evolution of IT. The vision behind SuperNET was the motivation for me to be part of this.

Few days ago i did a security audit and source-code review for james and the superNET-org and we discussed many topics and potential enhancements in the general field of crypto-security. I proposed a novel solution which we are now working on. I do not want to reveal more than necesary. So far we are the first and only project to use this technic for the usage with cryptocurrencies. It will ease the usage and provide top level security for the average user with no IT-knowledge.

I thank the superNET team and organisation for this interesting and exciting opportunity.

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!! 

thank you @yassin54!

[1715076295]

1715076295

[Sharky444]

The UI looks nice. Will there be a native Windows client, or is this Java (slow start etc)?

[KomodoPlatform]

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

No one personally gets 10 %, they all go towards development just like the BTC we raise in the ICO does. The 10M KMD coins are part of the capital we will have.

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

Zcash does not have notary nodes, they are part of a delayed Proof of Work consensus that we are building on top of Zcash.

There will be 64 notary nodes, which are elected by the Komodo coin holders. The notary nodes will notarize komodo block hashes to Bitcoin blockchain and they will do majority of the mining. Mining with normal nodes is not economical.

Komodo: Zcash PoW with dPoW Consensus Mechanism
Notary Node Elections

who becomes a notary node?

Anyone can get elected. If you are interested we recommend you to join #notarynode channel on SuperNET Slack and run a notary node in Komodo testnet.

Setup Komodo Notary Node
https://www.komodoelection.com/

https://komodoplatform.useresponse.com/topic/can-you-give-me-information-about-the-notary-nodes-election-process
https://komodoplatform.useresponse.com/knowledge-base/article/do-we-need-to-have-the-dedicated-server-already-in-place-for-the-vote-or-is-it-enough-to-describe-the-server-which-will-be-ordered-after-a-successful-candidacy

[szachta]

This is to hard to understand https://www.komodoelection.com/registration/ but if i guess corect you are looking node i have only 1 requirements - 100Mbps internet connection  i have 120 Mbps i can rent my net.

[KomodoPlatform]

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.

Thank you for this exciting opportunity!

about me: I have worked multiple years in the field of IT-security, network security and network-based software development (relay services, div. detection system, and so on). In the last years i was involved in a few scientifc projects. I like pentesting software and network services. First and foremost i love reviewing and securing decentralized software and blockchain-based technologies. I found my calling in this. And i am very proud and feel honored to be part of such exciting projects and milestones in the evolution of IT. The vision behind SuperNET was the motivation for me to be part of this.

Few days ago i did a security audit and source-code review for james and the superNET-org and we discussed many topics and potential enhancements in the general field of crypto-security. I proposed a novel solution which we are now working on. I do not want to reveal more than necesary. So far we are the first and only project to use this technic for the usage with cryptocurrencies. It will ease the usage and provide top level security for the average user with no IT-knowledge.

I thank the superNET team and organisation for this interesting and exciting opportunity.

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!! 

thank you @yassin54!

Welcome to the team ca333!

You were just added to our team page on komodoplatform.com

[jamalaezaz]

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!!  

wow. this is really great to see Ca333 is now part of Komodo also.. I am working with Ca333 in CealNet project and believe me he's an extreamly friendly person.

find Ceal here: https://bitcointalk.org/index.php?topic=1644145.220

[yassin54]

ca333 joins Komodo team as the head of security!

https://komodoplatform.com/#tab-id-8

Tweet : https://twitter.com/KomodoPlatform/status/791998233589473280

Reddit : https://www.reddit.com/r/komodoplatform/comments/59ugn4/ca333_joins_komodo_team_as_the_head_of_security/

Facebook : https://www.facebook.com/KomodoPlatform/photos/a.330322533980991.1073741828.321638648182713/354538461559398/?type=3&theater

News SuperNET : http://news.supernet.org/posts/jQc46HFycAExjHjeF/ca333-joins-komodo-team-as-the-head-of-security

[pufuletz]

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

No one personally gets 10 %, they all go towards development just like the BTC we raise in the ICO does. The 10M KMD coins are part of the capital we will have.

Point is, in both cases there'll be an "overhang" of founder/dev dumpable supply - 20% in Zcash's case, 10% in yours.

[polycryptoblog]

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

No one personally gets 10 %, they all go towards development just like the BTC we raise in the ICO does. The 10M KMD coins are part of the capital we will have.

Point is, in both cases there'll be an "overhang" of founder/dev dumpable supply - 20% in Zcash's case, 10% in yours.

The cases are different.   The 20% going to Zcash's Founder Reward are also divided amongst the initial private investors,  whereas our 10%  goes towards development  as well as bounties such as the signature campaign.  Komodo's  10% coin holdings are NOT being divided amongst the team and will be used as working capital for the project.   This is a significant difference.

[ApexEvo]

Im not afraid of KOMODO people dumping, I was watching their work in crypto community for years. The have good reputation for being fair and serious. I wouldnt hesitate to use them as escrow anytime.

[revelacaogr]

ZCash deception.

https://blog.okturtles.com/2016/03/the-zcash-catch/

[jl777]

rebased komodod to the zcash mainnet version
rebuilding now and testing

One of the risk factors was what happens if zcash delayed their mainnet release. That is not an issue anymore as it is already on block 300. Good thing about the "slow start" with tens of thousands of CPU/GPU mining, the first 20,000 blocks could well be mined in a few days.

Another risk factor was whether komodod would be ready within 2 weeks after the end of the ICO. It appears to be almost ready now. We still need to validate 5% APR interest issuance and election ratification, but considering that there is still 3 weeks+ of ICO left, it seems that we can even get some bonus features like PAX and maybe even DEX working before the mainnet.

Current implied pricing of KMD vs ZEC is at about a 10,000:1 ratio, which is quite a lot higher than the poll results: https://bitcointalk.org/index.php?topic=1659890.0

[jl777]

ZCash deception.

https://blog.okturtles.com/2016/03/the-zcash-catch/

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

Do you really think all participants are colluding together? There is no financial incentive for the zcash insiders to do this as they already get the 20% and compromising it would cost them far more than they will make

[yassin54]

Komodo's first video interview is now live.

https://youtu.be/LxZswQWGLVg

Tweet : https://twitter.com/KomodoPlatform/status/792067581494562816

Reddit : https://www.reddit.com/r/komodoplatform/comments/59w08x/komodos_first_video_interview_is_now_live/

Facebook : https://www.facebook.com/KomodoPlatform/posts/354659408213970

News SuperNET : http://news.supernet.org/posts/gxmRnGZSkwcqs9ejD/komodo-s-first-video-interview-is-now-live

[clovis A.]

Meanwhile, ZEC is trading at 3000BTC for one ZEC

[Scott J]

It will be under 1 BTC per ZEC within days.

[weryo]

It will be under 1 BTC per ZEC within days.

I would guess within hours, there's only 4 ZEC for sale on Polo.
But nonetheless I see this as very positive for Komodo.

[Mia Wallace]

Meanwhile, ZEC is trading at 3000BTC for one ZEC

so with one ZEC i could feed an entire village,how come the price is 3000 BTC and not satoshi's  are they just hyping the coin with the help from exchanges. what is the reason for this trading price

[Wapinter]

It will be under 1 BTC per ZEC within days.

I would guess within hours, there's only 4 ZEC for sale on Polo.
But nonetheless I see this as very positive for Komodo.

Komodo has a great potential like ZEC.Happy to be a part of it

[jl777]

It will be under 1 BTC per ZEC within days.

I would guess within hours, there's only 4 ZEC for sale on Polo.
But nonetheless I see this as very positive for Komodo.

Komodo has a great potential like ZEC.Happy to be a part of it

To put things in perspective, if KMD can achieve 1/100000th the current price of ZEC, it would be about triple the implied price of current ICO funds raised

So to achieve 1/10000th the price would be 10x that, or 30x

Using LTC to BTC ratio of 200:1 would assume that KMD is a pure fork with no value added.

So while we cant really predict any such pricing, nor can we expect ZEC to maintain its current price level, even at max raise there would be room for price increases. and with the current pace there will be that much more room.