A small Q&A happened on #komodo channel few minutes ago.
Where do the PAX fiat assets get their price feed?The price feed comes from notary nodes, which get it from ECB, with lots of processing to smooth the price out and prevent gaming of the price.
What are these fiat chains from a more technical perspective?Fiat chains are specially enhanced chains as they have both the pricefeed and the decentralized gateway into and out of KMD.
In other words, they are zcash forks with dPoW, pricefeed and decentralized gateway into and out of KMD
Today komodod can spawn 4 types of blockchains:
1. KMD
2. assetchains without anything special
3. assetchains with dPoW
4. pax fiat chains
Currently we have 32 category 4 blockchains; jl777 is testing REVS which is category 3; kolo made a category 2 chain the other day
Over time there will be more types of komodo created chains.
Since the chains are Zcash forks, can you do a private EUR transaction, for example?You can do a private tx, but we would lose explorers so lets wait until we get explorers that work with private tx first
Do you always have to get these fiat assets through KMD? i.e. do you need Komodo to get these assets.
Yes, they require KMD
What is ratification? Can we add new notaries with ratification?Yes, new slate of notaries can be ratified by existing notaries. Jl777 is still working out the kinks of the consensus for ratificaiton.
Got further questions? Just
join our Slack and ask away!