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

[fluffyPirate]

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.

+1

The only advantage from revenue sharing VOTE bribes is increasing community participation, NN profits should go to devs & bounties

BE READY TO GET OUT AND VOTE KOMODO COMMUNITY

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[bv68bot]

I predict Vote2019 will be the last chance for 'unknowns' without their own capital/KMD to get a NN spot easily, the competition from established crypto players will be immense next year, so small players will still have a chance, but it will be a lot harder without existing capital/vote & reputation.

If you are an unknown dev with skills consider the opportunity from running a successful NN in 2019, think of the out years where you either stay in the top30 and never face another election, OR, your contributions to the ecosystem build a solid reputation which gets you elected in subsequent years without any need for vote buying revenue sharing.

You might not have reputation and capital to secure a NN spot today, BUT, if you get elected this time with some 'assistance', and you work hard the future is in your hands.

How often in life do you see an opportunity for a talented unknown without their own capital to secure a golden opportunity like a NN, what jl777 previously described as a virtual 'money making machine'?

12 months is a long time in crypto but sounds like good advice, next election will be in a bull market probably too.

If I was a tech guy I'd think seriously about running, not many ways to make risk free money in crypto unless you're the lead dev of an ICO project or have a load of cash to invest in mining rigs and have cheap power.

How long until the candidate spam starts

[Big Naturals]

I disagree, the concentration of NN is bad for decentralisation and if it starts it'll be hard to undo coz notaries don't compete like PoW miners, so there'll always be a worry about collusion (even just a perception) if multiple NN are operated by a small clique of insiders who aren't required by the system to either compete in mining and invest in hardware, or put their capital on the line with PoS. That's why P-Trump is trying to encourage as many people to run as possible now before season 1 & 2 veterans run again and get more NN, and offering some voter bribes is a way to level the playing field with established NN who have good reps and more rusted on voter support from established relationships.

Crypto consensus is built on competition and risk/reward game theory dynamics, and as good as komodo dPoW system is technically, a weakness is the NN operators don't have to compete directly and don't have to invest much $$, so there's a risk of ending up with an insiders circle jerk when what we really want is 64 independent NN.

The only multiple notary candidates I'm voting for are PIRATE & kmdlabs (are they running in multiple regions?), and projects with 2-3 people working together.

Am I greedy if I take a bribe to vote for a noobie? lol

Been saying it since season 1 ... community pool nodes tick ALL the boxes

[Big Naturals]

It is competitive though!

Exactly, competitive elections of NN is essential for cementing dPoW as being decentralised with NN selection based on KMD stake ownership, so I hope candidates who step up and actually campaign a bit and have some good ideas & suggestions get rewarded by voters, plus it's a good way to focus the whole community and have some fun. The last election ended up very close and exciting at the end.

The next month should be pretty cool

edit: I also love how jl777 makes it known he doesn't favor vote bribes or revenue sharing but he doesn't disallow it, just says his opinion and leaves every other individual to make up their own mind. It's hard to predict what will happen this year

[alevlaslo]

NN is a temporary crutch for the small hashrate, no need to turn it into a key one.

[boomboom]

The only advantage from revenue sharing VOTE bribes is increasing community participation,

That's a non-trivial advantage, a low voter turnout could be a problem.

[boomboom]

NN is a temporary crutch for the small hashrate, no need to turn it into a key one.

NN is the gateway to BTC hashrate

[polycryptoblog]

NN elections aren't about politics, they're about the distribution of profits from community-owned resource - the komodo network - anything over 100K per year should go back to KMD owners who can decide to donate to devs or offer bounties etc or invest in other ways. P-trump is speaking the truth, nobody will accept 100% of notary profits going to operators forever, unless they invest profits back into the community.

Far too early to be thinking like this, priority is electing skilled sys admins and developers to finish the tech and grow adoption of DLT, jl777 added 5% reward for KMD investors so everyone is taken care of, no need to worry about notary profits getting too big, KMD barely above $1 lol

I disagree, the concentration of NN is bad for decentralisation and if it starts it'll be hard to undo coz notaries don't compete like PoW miners, so there'll always be a worry about collusion (even just a perception) if multiple NN are operated by a small clique of insiders who aren't required by the system to either compete in mining and invest in hardware, or put their capital on the line with PoS. That's why P-Trump is trying to encourage as many people to run as possible now before season 1 & 2 veterans run again and get more NN, and offering some voter bribes is a way to level the playing field with established NN who have good reps and more rusted on voter support from established relationships.

Crypto consensus is built on competition and risk/reward game theory dynamics, and as good as komodo dPoW system is technically, a weakness is the NN operators don't have to compete directly and don't have to invest much $$, so there's a risk of ending up with an insiders circle jerk when what we really want is 64 independent NN.

I disagree with this because there are many flawed assumptions in it

1. Collusion :  This doesn’t make sense.  notarizations are public and in the worst case can only refuse to notarize.  This is all publically visible so it would be easy to see who isn’t working well with the others. 

2. bad for decentralization:  25% of the coin can be mined by anyone, so anyone can participate.  Cheaper to get ASICs for the 1.2% coin generation than to buy your way to a spot.

3. Not required to compete in mining and invest in hardware: definitely not true,  there is competition among notary nodes ( mempool hunting ) and competition with the FFA miners,  and running a top 30 node without a good server costs money.  And this isn’t including the costs of keeping up with jl777s updates,  which is a job in itself and will only get harder in the future .

4. Small clique of insiders:  Even now there is over 100 people working as notaries/ with notaries or trying to become notaries.  It’s open to anyone to join,  how is this a) small and b)  insiders.  Every election so far people without the ability to vote themselves in have been elected.

Notary nodes have one job and that’s to notarize.  Who does it is pretty irrelevant, and the nodes on the network they are notarizing to will reject fake notarizations and the misbehaving Notary outs themselves as a bad actor.

With KMDs notary system I would argue it is MORE decentralized than 99% of coins which only have a few pools mining everything. 

[boomboom]

By collusion I mean in the election process to get NN positions, not the notarisation process itself, and when I say bad for decentralisation I'm not talking about mining KMD itself, but more how many independent separate entities become NN, and the extent to which co-operation between them makes them appear to operate as a single dev team sponsored NN system that employs 64 sys admin operators, or at least has potential for that perception to grow.

I strongly disagree with "Who does it is pretty irrelevant" - if you really believe that why not stick with PayPal & Visa, why not just have one entity responsible for running 64 global NN and let that entity employ 64 contractors?

Crypto users are searching for projects that are decentralized, trustless, competitive, adversarial, and the assumption from nearly everyone in this space is 95% of projects are scams designed by insiders to enrich themselves.

Don't get me wrong, I have been supporting komodo for years and love the tech, but I really hope these elections for NN become super competitive and hard fought.

Still early days with the elections and candidate numbers aren't much greater than available spots so there's not much benefit from competing with other candidates yet, but that will come in time as kmd gets more attention with mature tech. This year is more about cooperation and If you follow discord it's great to see experienced NN helping new guys, that's what we need most now, 64 reliable nodes!

When the notary income becomes significant and candidates increase we will see more competitive behaviour, and I agree that's good for decentralisation, but for this election it's not a problem imo

[polycryptoblog]

I disagree with this because there are many flawed assumptions in it

1. Collusion :  This doesn’t make sense.  notarizations are public and in the worst case can only refuse to notarize.  This is all publically visible so it would be easy to see who isn’t working well with the others.  

2. bad for decentralization:  25% of the coin can be mined by anyone, so anyone can participate.  Cheaper to get ASICs for the 1.2% coin generation than to buy your way to a spot.

3. Not required to compete in mining and invest in hardware: definitely not true,  there is competition among notary nodes ( mempool hunting ) and competition with the FFA miners,  and running a top 30 node without a good server costs money.  And this isn’t including the costs of keeping up with jl777s updates,  which is a job in itself and will only get harder in the future .

4. Small clique of insiders:  Even now there is over 100 people working as notaries/ with notaries or trying to become notaries.  It’s open to anyone to join,  how is this a) small and b)  insiders.  Every election so far people without the ability to vote themselves in have been elected.

Notary nodes have one job and that’s to notarize.  Who does it is pretty irrelevant, and the nodes on the network they are notarizing to will reject fake notarizations and the misbehaving Notary outs themselves as a bad actor.

With KMDs notary system I would argue it is MORE decentralized than 99% of coins which only have a few pools mining everything.  

By collusion I mean in the election process to get NN positions, not the notarisation process itself, and when I say bad for decentralisation I'm not talking about mining KMD itself, but more how many independent separate entities become NN, and the extent to which co-operation between them makes them appear to operate as a single dev team sponsored NN system that employs 64 sys admin operators, or at least has potential for that perception to grow.

I strongly disagree with "Who does it is pretty irrelevant" - if you really believe that why not stick with PayPal & Visa, why not just have one entity responsible for running 64 global NN and let that entity employ 64 contractors?

Crypto users are searching for projects that are decentralized, trustless, competitive, adversarial, and the assumption from nearly everyone in this space is 95% of projects are scams designed by insiders to enrich themselves.

Don't get me wrong, I have been supporting komodo for years and love the tech, but I really hope these elections for NN become super competitive and hard fought.

Even worst case scenario where all the notaries collude to get their friends in , Notary mining only makes up 30% of the yearly coin generation.  Divide that by the number of colluders and it’s shows it’s not very profitable at all. Let alone dealing with the side effects ( people complaining of collusion ) which could lower the coin price .

It doesn’t matter who does it because the protected networks normal nodes will reject a bad notarization.  One person can do it or someone could hire out a bunch of contractors. But Komodo isn’t a company so whoever would want to do that would have to fund that themselves and if one person just did it, I think people would take more issue with 1 person making 30% vs. many splitting it.  

In the future there will lite versions of DPoW, some may be centralized some not, some in the middle.  All up to the project that implements it.  Not all blockchains will be using the model we normally associate with crypto

If the project was only meant to enrich insiders then why is 60% of the coin generation able to be done by anybody?  Most coins require massive amounts of hardware or coin supply to get a slice of coin generation,  komodo only requires 10KMD and sending a transaction once a month.   I realize that you weren’t criticizing Komodo directly on this, but compared to pretty much any other coin , komodo offers everyone a chance to be part of the generation process.

[ptytrader]

ChainZilla Notary Manifesto 2019

CLICK BELOW

https://medium.com/chainzilla/notary-election-manifesto-2019-chainzilla-379395f5c02e

[Charles T.]

Vote us for Notary Node 2019

[VoskCoin]

Wanted to post this again in reference to my campaign for 1 EU notary node, VoskCoin has entered the 2019 Komodo Notary Node Elections



You can review my content at https://www.youtube.com/voskcoin and feel free to reach out directly to me with any questions, on any of the platforms I'm on.

[boomboom]

When does the snapshot happen for Vote2019, has a time/blockheight been determined yet?

[Acura3600]

When does the snapshot happen for Vote2019, has a time/blockheight been determined yet?

14th April

[Graham Ade]

When voters look at an unknown candidate they might ask, "How serious is this guy, how committed is he?"

How much revenue he's willing to lose in his first year to get an opportunity is one measure of a guys commitment to running a NN, and I think last year proved that this measure had some validity, guys who offered some revenue got elected and overall did pretty well!

I value the contributions of the candidates to the komodo ecosystem x1000 more than the KMD they paid me last year! The candidates I supported last year wont need me this election, so I have one more opportunity to help some new guys get a go this year.

looks like new candidates who offer some rev share will get elected by trump, not because he wants their money, but because the rev share shows they must really want the NN spot.

[Attack.of.the.Clones]

Where can voters check testnet notary statistics?

[Big Naturals]

looks like new candidates who offer some rev share will get elected by trump, not because he wants their money, but because the rev share shows they must really want the NN spot.

Trump's been crystal clear on his agenda for 3 elections now, he wants to prevent concentration of NN operators and trying to attract more skills into the community so he offers newbs a chance to self select themselves if they offer some profit share. Next year he votes for himself and runs 2 notaries.

It's not the way jl777 wants elections to be decided, but thankfully it's the last year like this.

If you're thinking of running next year I can tell you now:
- if you run a NN in the top 30 from the previous year I won't consider you
- if you run in 3 or 4 regions I wont consider you
- if you successfully participate in testnet and show you have skills to run a NN I will read your proposal
- I strongly favor single region independent candidates, I would try to avoid sock puppets
- if you offer some rev share to voters I will be 'grateful' and add you to my shortlist
- it's not simply who offers the largest rev share, 10% and up would get you on my shortlist, then I pick the best overall candidate(s)

[thorRJ]

This blockchain protection will be for any type of application, eg: Develop an altcoin, using komodo can I protect 51% attacks?

[boomboom]

This blockchain protection will be for any type of application, eg: Develop an altcoin, using komodo can I protect 51% attacks?

Yes, pretty amazing tech, Bitcoin level protection from dPoW for a few hundred dollars per year!