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

[boomboom]

lol, except that it has nothing to do with proof of stake. Stake-based =/= Proof of Stake. Your stake, represented by the coins you get 1:1 vote with (or your direct KMD for that matter), do not generate blocks themselves, nor do the NN's via POS.

As for your edit "if I said dPoW is a version of PoS you would be correct, but I didn't say that". Ummm? "dPoW is a hybrid version of proof of stake" So you inserted hybrid and that is suppose to change the core statement? Really?

And trolling? If correcting a nonsensical statement that is only going to serve as a statement of confusion makes me a troll, so be it. I'm probably one of the larger holders here.

Why don't you give a definition and explain dPoW then?

Just replying 'No' was worthless

My definition would not include POS, that's for sure.

Gutless, you can't define dPoW adequately can you, not without mentioning 'stake'.

Stay a million miles away from any marketing, komodo needs adoption and that comes from simple explanations people can understand. You can't do that, can you?

Then you are a shit marketeer if you reference a consensus algo as your base case for what dpow is. lol

I have found that referencing 'stake' when explaining dPoW is essential because noobies see PoW in the name and they can mine kmd also, so it's very easy for confusion where people don't appreciate the 'green' friendly innovation. It's like 'blockchain', it has multiple meanings now,  look for the intentions behind the statement, don't see every misuse an an opportunity to boost your ego and put someone down, try and explain things better.

[1713932990]

1713932990

[oblox]

lol, except that it has nothing to do with proof of stake. Stake-based =/= Proof of Stake. Your stake, represented by the coins you get 1:1 vote with (or your direct KMD for that matter), do not generate blocks themselves, nor do the NN's via POS.

As for your edit "if I said dPoW is a version of PoS you would be correct, but I didn't say that". Ummm? "dPoW is a hybrid version of proof of stake" So you inserted hybrid and that is suppose to change the core statement? Really?

And trolling? If correcting a nonsensical statement that is only going to serve as a statement of confusion makes me a troll, so be it. I'm probably one of the larger holders here.

Why don't you give a definition and explain dPoW then?

Just replying 'No' was worthless

My definition would not include POS, that's for sure.

Gutless, you can't define dPoW adequately can you, not without mentioning 'stake'.

Stay a million miles away from any marketing, komodo needs adoption and that comes from simple explanations people can understand. You can't do that, can you?

Then you are a shit marketeer if you reference a consensus algo as your base case for what dpow is. lol

I have found that referencing 'stake' when explaining dPoW is essential because noobies see PoW in the name and they can mine kmd also, so it's very easy for confusion where people don't appreciate the 'green' friendly innovation. It's like 'blockchain', it has multiple meanings now,  look for the intentions behind the statement, don't see every misuse an an opportunity to boost your ego and put someone down, try and explain things better.

There is nothing wrong with using the word "stake", it's when you use it in the phrase "proof of stake" (or POS for short) where you are changing the meaning to something it is not. Instead of him acting like a child over me pointing this out, he gets his panties in a twist that I'm trolling. Time to put big boy pants on and sack up.

[boomboom]

There is nothing wrong with using the word "stake", it's when you use it in the phrase "proof of stake" (or POS for short) where you are changing the meaning to something it is not. Instead of him acting like a child over me pointing this out, he gets his panties in a twist that I'm trolling. Time to put big boy pants on and sack up.

PoS is becoming a rubbery term like blockchain, if we want noobies to understand replying with a 'No' without any further explanation is not helpful and looks like FUD. He clearly intended to point out NN are selected based on stake via an election. Nothing too wrong there, maybe he could have said NN selection is similar to delegated PoS,

 the takeaway for noobs is dPoW doesn't require burning huge amounts of electricity or warehouses full of hardware, anyone can run in the election even if they own zero kmd.

[Big Naturals]

PoS is becoming a rubbery term like blockchain, if we want noobies to understand replying with a 'No' without any further explanation is not helpful and looks like FUD. He clearly intended to point out NN are selected based on stake via an election. Nothing too wrong there, maybe he could have said NN selection is similar to delegated PoS,

 the takeaway for noobs is dPoW doesn't require burning huge amounts of electricity or warehouses full of hardware, anyone can run in the election even if they own zero kmd.

Thanks you

What does 'immutable' mean after The DAO hack and Ethereum rollback?

What does Nakamoto consensus mean after the HashWar and BCH/BSV split?

Notary elections are stake based, 1 VOTE = 1 KMD, so I'm sticking with dPoW is a VERSION of (delegated) PoS, that makes sense to me, and regular Jo's can understand the concept. The VOTE allocation is based on proof of stake, no selling votes, no sending VOTES to third parties, just 1 legal send from KMD investor to a NN candidate. 64 NN then form a network for completing dPoW tx, that's the essence IMO

[boomboom]

Notary elections are stake based, 1 VOTE = 1 KMD, so I'm sticking with dPoW is a VERSION of (delegated) PoS, that makes sense to me, and regular Jo's can understand the concept. The VOTE allocation is based on proof of stake, no selling votes, no sending VOTES to third parties, just 1 legal send from KMD investor to a NN candidate. 64 NN then form a network for completing dPoW tx, that's the essence IMO

Something I've come across is people confuse the 5% 'reward' for PoS because they get coins without having to mine, like staking. For this reason I think the best way to phrase things is NN selection is stake based and there are no restrictions on who can run for a spot as a NN, so in a way it is similar to delegated PoS, but strictly speaking isn't PoS at all because once the NN are elected the KMD holders have no further roll in the dPoW process until the next election (like an electoral college), and KMD blocks are PoW mined.

It can be confusing

[Big Naturals]

Want a super crude and cheesy dpow definition without using the word stake (which is wrong): "Securing your project through Bitcoin's hashrate, because wasting resources is silliness" or "dPow Tether, back your project up to Bitcoin's ledger--simple, secure, affordable"

ha ha ... you came up with slogans for Tether lol

thanks for the giggles, do you know what 'definition' means?

You can't explain dPoW in simple terms, can you? not a slogan, a simple explanation that makes someone understand

marketing is NOT just slogans, it's a simple message that people can understand

[oblox]

Want a super crude and cheesy dpow definition without using the word stake (which is wrong): "Securing your project through Bitcoin's hashrate, because wasting resources is silliness" or "dPow Tether, back your project up to Bitcoin's ledger--simple, secure, affordable"

ha ha ... you came up with slogans for Tether lol

thanks for the giggles, do you know what 'definition' means?

You can't explain dPoW in simple terms, can you? not a slogan, a simple explanation that makes someone understand

marketing is NOT just slogans, it's a simple message that people can understand

I'm not going to have a technical discussion with someone that does not know the difference between consensus algos. Just because you struggle with what dpow is does not mean I have to be the one to explain it to you. I'm comfortable with my investment, I've done my DD.

Also, as stated, I'm not a marketeer so you reading too much into a cheesy tagline shows me you fail to actually pull out content from posts well. You asked to describe what dpow was without using stake... in simplest terms with an albeit cheesy slogan, that's its selling point. For projects that lack the infrastructure to adequately protect their chain, for a relatively small price, they can prevent attack by periodic snapshots to the longest, most secure ledger in the world. While not backed up directly, we can say with the transitive property that they ultimately exist on the BTC ledger because the ultimate hash encompasses those chains. Finally, I wasn't aware that Tether secured blockchains from attack. Thanks for the info. /s

[Big Naturals]

Also, as stated, I'm not a marketeer so you reading too much into a cheesy tagline shows me you fail to actually pull out content from posts well. You asked to describe what dpow was without using stake... in simplest terms with an albeit cheesy slogan, that's its selling point. For projects that lack the infrastructure to adequately protect their chain, for a relatively small price, they can prevent attack by periodic snapshots to the longest, most secure ledger in the world. While not backed up directly, we can say with the transitive property that they ultimately exist on the BTC ledger because the ultimate hash encompasses those chains. Finally, I wasn't aware that Tether secured blockchains from attack. Thanks for the info. /s

"dPoW gives DLT projects the same security as bitcoin at a fraction of the cost, without adding any trusted third party, and without creating any centralized single point of failure"

[hiphoptrail]

Want a super crude and cheesy dpow definition without using the word stake (which is wrong): "Securing your project through Bitcoin's hashrate, because wasting resources is silliness" or "dPow Tether, back your project up to Bitcoin's ledger--simple, secure, affordable"

ha ha ... you came up with slogans for Tether lol

thanks for the giggles, do you know what 'definition' means?

You can't explain dPoW in simple terms, can you? not a slogan, a simple explanation that makes someone understand

marketing is NOT just slogans, it's a simple message that people can understand

I'm not going to have a technical discussion with someone that does not know the difference between consensus algos. Just because you struggle with what dpow is does not mean I have to be the one to explain it to you. I'm comfortable with my investment, I've done my DD.

Also, as stated, I'm not a marketeer so you reading too much into a cheesy tagline shows me you fail to actually pull out content from posts well. You asked to describe what dpow was without using stake... in simplest terms with an albeit cheesy slogan, that's its selling point. For projects that lack the infrastructure to adequately protect their chain, for a relatively small price, they can prevent attack by periodic snapshots to the longest, most secure ledger in the world. While not backed up directly, we can say with the transitive property that they ultimately exist on the BTC ledger because the ultimate hash encompasses those chains. Finally, I wasn't aware that Tether secured blockchains from attack. Thanks for the info. /s

answer me this...

who benefits the most from mining kmd blocks?

there are only 64 positions to "own" the rights to notarize kmd transactions on the btc blockchain. and from my understanding, these 64 nn have a zero difficulty unlike those of us that use miners...that chaps my behind.

[boomboom]

"dPoW gives DLT projects the same security as bitcoin at a fraction of the cost, without adding any trusted third party, and without creating any centralized single point of failure"

That's a pretty good definition of what dPoW does, can you say how it does it in as many words?

[alevlaslo]

this requires trust in delegates, the exchanges is rarely trusted to them, so increased deposit time to 2 hours, only on the Hitbtc deposit in 6 minutes so.  A high hashrate is preferable to trust.  But many coins do not have a hashrate, but they are credited quickly, I do not understand the logic of exchanges. Why do bad coins without hashrate has a good grow but a good Komodo has bad grow?  Why Komodo block in 1 minute, it is fit for neither Dex nor for shopping in the stores, why not do a hulf second like the EOS? Even 15 seconds of ETH is a lot for Dex, I think that's the only reason EOS is a leader. People otherwise understand the high speed of transactions, give them what they like

[Big Naturals]

"dPoW gives DLT projects the same security as bitcoin at a fraction of the cost, without adding any trusted third party, and without creating any centralized single point of failure"

That's a pretty good definition of what dPoW does, can you say how it does it in as many words?

KMD holders vote for 30 out of 64 notaries every year in a free and open election, the bottom 30 performers facing re-election. These 64 NN then form a separate peer-to-peer network from Komodo. 13 out of 64 notaries will then periodically notarize a blockchain hash from every supported blockchain onto the bitcoin blockchain. This then creates an anchor point or "checkpoint" for each secured blockchain that cannot be reversed.

[Nashamoto]

In the future when KMD MK is much larger than it is today NN candidates will look for ways to guarantee their spots over multiple years, and that will include things like competition with other NN candidates using incentives like revenue sharing, other token offerings, and discounts on various services and products offered by the NN business itself, as well as private deals with large holders.

I also hope in the future we see genuine community run nodes for small KMD holders to pool their VOTE.

jl777 said in discord he will not vote for any candidate that offers bribes to voters and he suggests everyone else do the same. You are right that when NN profits grow large competition between candidates will mean it is harder to get elected but the solution is community pool run nodes, not vote buying with % of rewards paid to voters. This year not many candidates so competition not so much.

[alevlaslo]

why complicate everything, you can simply change the algorithm to one that is not on Nicehash, this will eliminate the possibility of attack 51, and in case of appear of always change again, and delegates will not be needed. The danger of the delegates is that they can attack for the purpose of imperceptible emission to themselves. Komodo is a best coin of all, but still imperfect yet

[david1365]

this requires trust in delegates, the exchanges is rarely trusted to them, so increased deposit time to 2 hours, only on the Hitbtc deposit in 6 minutes so.  A high hashrate is preferable to trust.  But many coins do not have a hashrate, but they are credited quickly, I do not understand the logic of exchanges. Why do bad coins without hashrate has a good grow but a good Komodo has bad grow?  Why Komodo block in 1 minute, it is fit for neither Dex nor for shopping in the stores, why not do a hulf second like the EOS? Even 15 seconds of ETH is a lot for Dex, I think that's the only reason EOS is a leader. People otherwise understand the high speed of transactions, give them what they like

If you think the only difference between EOS and KMD is the time of new block generation, you have a big mistake. EOS is the most largest and most successful project in the history of cryptocurrencies up to now. EOS has earned more than $ 4 billion in the ICO, which serves the development of this huge platform, and this is the guarantor of the success of this popular platform. EOS is a well-designed and acclaimed platform which is the result of the experiences that Daniel Larimer has gained from its three previous successful projects. But KMD is made by the JL777 which could not been able to finish even one small project after six years of activity in the Crypto world.

[Acura3600]

It's about EOS not bringing the TPS they promise. 
Central systems have, blacklists, almost all block producers in China are located, a 4 TB database after not even 1.5 years and on top of it still such bugs.

Which projects have not been finished that you are talking about here ?

[HarikGow]

Is sell going on?

[david1365]

It's about EOS not bringing the TPS they promise.  
Central systems have, blacklists, almost all block producers in China are located, a 4 TB database after not even 1.5 years and on top of it still such bugs.

Which projects have not been finished that you are talking about here ?

Please do not sophistry!

I know James since the launch of the BTCD and I was an investor in his several projects that never ended and now I don't have free time to worthless argue with you.

history exist to clarify these issues!!!

[Acura3600]

You claim that Jl777 hasn't finished even the smallest projects in the last 6 years, I'd like to know which ones.
Thank you

[alevlaslo]

It's about EOS not bringing the TPS they promise.  
Central systems have, blacklists, almost all block producers in China are located, a 4 TB database after not even 1.5 years and on top of it still such bugs.

Which projects have not been finished that you are talking about here ?

Please do not sophistry!

I know James since the launch of the BTCD and I was an investor in his several projects that never ended and now I don't have free time to worthless argue with you.

history exist to clarify these issues!!!

BTCD or BCD ?


Basically it was a stupid combination of failures. I use Windows 10 and tried to claim BTCP and BCD. Both with the Electrum version for their blockchains.
I used the same long password for different things - especially my password safe had the same pw as the DASH QT wallet. So after I started the Electrum clients (which I tested before with Defender, SuperAntiSpyware and www.virustotal.com) I had to do a little thing in DASHQT - that was it - the one of the wallets, most likely BCD, spied my password through a keylogger and the hacker had access to everything.
(there is no need to discuss the stupidity of using Win10, same passwords many times, storing 2FA codes in password safes or testing new software on a vulnerable system)
https://bitcointalk.org/index.php?topic=5080741.msg48476147#msg48476147