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

[Nivir]

Will there be any effect on the development of the coin if the ICO doesn't meet the goal?

The minimum goal is already met!

jl777 mentioned that even with 2000 BTC we might have to decrease the notarization costs by having less then 64 notary nodes, so that we can get more funds into development.

Yes we have reached the minimum! But of course more funding would ensure more development and all the 64 notary nodes with a decent notarization speed.

I only have very basic knowledge on programming but I want to know what happens if Komodo have less than 64 notary nodes? That means lower notarization speed? So meaning if ICO won't reach the projected amount we will get a lower quality Komodo?

[KomodoPlatform]

Will there be any effect on the development of the coin if the ICO doesn't meet the goal?

The minimum goal is already met!

jl777 mentioned that even with 2000 BTC we might have to decrease the notarization costs by having less then 64 notary nodes, so that we can get more funds into development.

Yes we have reached the minimum! But of course more funding would ensure more development and all the 64 notary nodes with a decent notarization speed.

I only have very basic knowledge on programming but I want to know what happens if Komodo have less than 64 notary nodes? That means lower notarization speed? So meaning if ICO won't reach the projected amount we will get a lower quality Komodo?

Komodo block time is 1 minute, Bitcoin blocktime is ~10 minutes. Ideally we would have one Komodo notarization per bitcoin block. That means we would do the notarization every 10th Komodo block (that is the current plan). However we can decrease the costs of notarization by decreasing the notarization speed, for example every 20th Komodo block.

We also have the option to decrease the amount of notary nodes, which would also bring the costs down. Ideally we would like to have 64 of them, but less would get the job done also.

It's all about balancing between notarization costs vs development costs.

[MoveCrypto]

I must say, I'm impressed with the pace James writes new code and debugs it.

It's exciting to see many of the BitcoinDark/SuperNET projects finally coming together under Komodo.

BitMex futures are predicting a 30 December market cap of ~200000 BTC for ZEC
https://www.bitmex.com/app/trade/ZECZ16

KMD has the Zcash anon tech, even greater hashpower security through DPow with Bitcoin, and more Supernet tech like assetchains, easydex, iguana.

KMD market cap is only 9000 BTC right now.  This is obviously a winning pick.  I'm putting my money where my mouth is and transferring more BTC to my komodoplatform.com account this week.

[tiggytomb]

Is this correct?, it states that the minimum amount per transaction to deposit bitcoin is 0.0777 when you login to https://ico.komodoplatform.com/

[KomodoPlatform]

Is this correct?, it states that the minimum amount per transaction to deposit bitcoin is 0.0777 when you login to https://ico.komodoplatform.com/

Yes, the minimum is 0.0777 BTC.

If you send below that amount, then you can do another payment to match it, so that the total goes over 0.0777 BTC.

[tiggytomb]

Is this correct?, it states that the minimum amount per transaction to deposit bitcoin is 0.0777 when you login to https://ico.komodoplatform.com/

Yes, the minimum is 0.0777 BTC.

If you send below that amount, then you can do another payment to match it, so that the total goes over 0.0777 BTC.

Cool, thanks for the info.

[MoneyJ]

I must say, I'm impressed with the pace James writes new code and debugs it.

It's exciting to see many of the BitcoinDark/SuperNET projects finally coming together under Komodo.

BitMex futures are predicting a 30 December market cap of ~200000 BTC for ZEC
https://www.bitmex.com/app/trade/ZECZ16

KMD has the Zcash anon tech, even greater hashpower security through DPow with Bitcoin, and more Supernet tech like assetchains, easydex, iguana.

KMD market cap is only 9000 BTC right now.  This is obviously a winning pick.  I'm putting my money where my mouth is and transferring more BTC to my komodoplatform.com account this week.

Nice strategy I may say. If only btc price settles down to a more stable amount sooner. I am going to put another batch.

[jl777]

Now that the assetchains appears to be working somewhat stably, we decided to do a ratify test.

We have had a dozen new testnet nodes that want to be notaries, but until there is a ratify in the blockchain, there is no change in the official list of notaries.

./komodo-cli notaries <height> -> prints the notaries as of any height, but they only change at multiple of 1000 boundary.

It required 14 signatures to approve the 41 candidates:

Code:

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and after we got the required ratify done by the 14+ notaries, the above tx was created. Unfortunately due to going from 14 to 41 there wasnt enough to pay for txfee as the same fixed size utxo was used.

So I need to tweak the process to include a bigger utxo and then we will get the ratified list into the blockchain. Since as of last week, I use the data from the blockchain for the official notary list, so once it gets to the blockchain, it should automatically switch to the new list.

While I was waiting for the ratification, I also got iguana to sync the KMD chain, at least with transparent tx.

[Mia Wallace]

It will be under 1 BTC per ZEC within days.

The terrible performance of ZEC will make Komodo ICO a failure... who want to invest in a clone when the original one is a failure? Support is already totally drying up on Poloniex.

what do you mean by terrible performance of ZEC ,is it because of the astronomical change in price which makes it a failure or the level of interest in the coin itself.

[@boutiuqe]

How 30,000 btc rise so far ?

[BigCat45]

How 30,000 btc rise so far ?

Checking the thread 10-20 times a day, quite frustrated to see you guys doing nothing with the feeding. Just change the cap to 4k, or 3 if you want. Get that shut. Would love to see 10k raised, but lets be more realistic, every 2-3 hours some account comes up with "why you want 30,000 BTC" question. Do 3k, see how soon it'll fill up.

[CryptoSporidium]

How 30,000 btc rise so far ?

Checking the thread 10-20 times a day, quite frustrated to see you guys doing nothing with the feeding. Just change the cap to 4k, or 3 if you want. Get that shut. Would love to see 10k raised, but lets be more realistic, every 2-3 hours some account comes up with "why you want 30,000 BTC" question. Do 3k, see how soon it'll fill up.

And then everyone knows details can be changed, so 10% dev amount might be changed to 20%, or btcd swap rate might be cut by 50% ... can't change things now, and it's just a maximum. 5k looks very unlikely to me,

[Sincere_]

Will think about buying more on launch depending on how everything goes

Me too, i will choose to buy after ico, because i estimate this project will break ico price, and go dip.

Its usually the case for most projects. At launch it can be high but then it dips down, if lucky go up and steady and then roller coaster from then on.

This is true but the project seems interesting also not sure if they meet the BTC goal but if they do that's a lot of interest in this coin

[johny08]

How 30,000 btc rise so far ?

Komodo tx are too expensive. You have to pay btc and thats weird. There are better approaches, like zcash.

[crazydeadmoth]

How 30,000 btc rise so far ?

Komodo tx are too expensive. You have to pay btc and thats weird. There are better approaches, like zcash.

What is zcash scheme?

[bitcoinuserz]

How 30,000 btc rise so far ?

Komodo tx are too expensive. You have to pay btc and thats weird. There are better approaches, like zcash.

If you think Komodo blockchain is expensive to maintain, you have no idea how much Ethereum blockchain costs.

Just do some math on how much eth is mined everyday and multiply that by 11 dollars.

[KomodoPlatform]

How 30,000 btc rise so far ?

Komodo tx are too expensive. You have to pay btc and thats weird. There are better approaches, like zcash.

If you think Komodo blockchain is expensive to maintain, you have no idea how much Ethereum blockchain costs.

Just do some math on how much eth is mined everyday and multiply that by 11 dollars.

Actually the Komodo blockchain will be quite efficient in itself, and we will have as cheap tx costs as a PoS blockchain.

The notarization process is expensive, as we will have to pay a lot of tx fees to the Bitcoin blockchain. However in time that will become self-sustaining as more and more other blockchain will use Komodo's services. Also if the KMD price rises we might not have to give any subsidies as the notary nodes will get a good revenue from the block rewards alone.

Anyone looking more in depth answer can read them from here:
Max BTC Cap, capital expenditure, SuperNET roadmap
Notarization costs vs development costs

[KomodoPlatform]

When we can send the BTCD? It's not clear.

After the ICO and the BTCD snapshot. We haven't announced yet when exactly that snapshot will happen, but it will be a specific block.

It all should happen within two weeks after the ICO, so that everyone gets their KMD coins at the same time.

[KomodoPlatform]

GUI Update!

Our GUI dev Grewal Satinder is developing the EasyDEX GUI that will also have a Komodo wallet with transparent and anonymous payments. He just had a small update:

EasyDEX-GUI wallet settings section updated to get active coin’s wif keys from logged in wallet.

P.S. Notice the "Komodo Wallet" tab
P.S. Soon we will release our second whitepaper: "EasyDEX – A Practical Native DEX"  

[bedskills]

GUI Update!

Our GUI dev Grewal Satinder is developing the EasyDEX GUI that will also have a Komodo wallet with transparent and anonymous payments. He just had a small update:

EasyDEX-GUI wallet settings section updated to get active coin’s wif keys from logged in wallet.

P.S. Notice the "Komodo Wallet" tab
P.S. Soon we will release our second whitepaper: "EasyDEX – A Practical Native DEX"  

Nice GUI, but why there is zcash wallet?