Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 717. (Read 1192347 times)

Sorry that i pushed the BTCD price on Polo the last two days a little bit

1 -> 50 looks too nice 

BTCD holders only will also get the new asset.

Basically, KMD is replacing BTCD. Soon, BTCD will have no devs, as they will be turning all their attention to KMD, and no future. The current offering allows BTCD holders to move easily to the new technology, KMD.

sendrawtransaction bobdeposit.(d718cb497827841a7fd775d7c0e10c7c0125c12b789fc750a8e84477c553a3ba)

sendrawtransaction bobpayment.(5cadd2cc494e70192acef947bfa7aa570ed23b4f3baa686c5b83e5f5f6a570cf)

sendrawtransaction bobspend.(35b3cda4509a6f81584d9fe638d288898e3d2fc801dc298497be404c46f121eb)

sendrawtransaction bobrefund.(329d8ba52d25bf4bcd46d47b976d85bfcbba4feafdc91194900228ff08561de4)

sendrawtransaction alicespend.(aa82ebd1c5bd2a9e19214cbc959df1745378676fddfd6f4903930ac16485c7ae)

tl:dr yes, above is BTC <-> KMD atomic cross chain swap

It uses notary nodes for the ordebook/bulletin board.still many combinations to validate and LP configuration to expand, but the hard part is now working in at least the mainstream case

i bought 27 btcd on polo yesterday and it shot the price up by 5.69%. I only bought it to lower my avg kmd price when btcd-kmd exchange opens

I think you guys just caught my attention and I'm willing to swap the BTCD for KMD. But I know how cos I never do such thing before. How much in BTC is 1BTCD? With 1BTCD how many KMD will I get? When will I have the interest/the time the deal will end? Thanks

BTCD up 18% on Poloniex with some big buys.  Even at current price of .042, you still get 12,011 KMD after the swap for 1 BTC worth.  That is 55% more than the 7746 you would have gotten in the ICO.

I am buying more BTCD myself..seems like low risk at this level.

No doubt KMD swap will push up BTCD price.Why kmd opt to promote BTCD?

BTCD is creeping up on Polonex, although still mainly in the .0036 to .0041 range on low volume.  But at least a big buyer with bids at .0036.  There really are no big sellers on the ask size with more than 1 BTC worth until you get to .0043 and then just 1.75 BTC worth.

But difficult to draw many conclusions with volume so low.  I am loaded up on BTCD though and ready for the snapshot and then the swap.

./komodod -ac_name=YOURTOKEN -ac_supply=1000000 -gen
./komodod -ac_name=YOURTOKEN -ac_supply=1000000

do the above command line on two different nodes. The -gen node will mine 100 blocks. At that point, the blocks are on-demand so if no tx, then no blocks. You will be able to DEX YOURTOKEN based on the YOURTOKEN name.

We will need to have some way to resolve name collisions, but if the ac_name and ac_supply are the same, it is the same chain.


the above command line autogenerates genesis, etc. and issues 1 million YOURTOKEN coins. it is zero-knowledge enabled. however the fiat pegging is limited to the pax fiat chains. It requires a decentralized gateway and notary nodes, so not something that can be a standalone assetchain

This whould be a killer, IMO.  I hope there would be good documentation on how to do this, so, say, I would be able to create zero-knowledge token, pegged to a local currency and instantly available on DEX.

pax is a decentralized fiat equivalent, there is no third party needed. In fact, there isnt even a second party for KMD <-> pax fiat. you do those with paxdeposit and paxredeem API calls.

as far as converting to real fiat, we need to stay away from directly doing that. just use localbitcoins to convert BTC <-> real fiat.

the DEX can trade pax fiat <-> pax fiat, creating a decentralized forex

and of course KMD <-> BTC can be done with liquidity enhanced DEX using LP nodes <-> central exchanges. Only the LP nodes are directly interacting with the central exchanges. Our DEX is not a token based DEX, that is tech we pioneered 2 years ago using NXT AE + MGW, but now it is time for native DEX. Our DEX is a native DEX where there is no intermediate token needed.

New blockchains can be created from the ./komodod command line and these are all zcash forks which plug right into the native DEX. Optionally dPoW can be enabled for them with agreements from notary nodes.

I think most have missed the fact that this native DEX based ecosystem already solves the scaling problem as overall capacity can be increased just by spawning new blockchains. native DEX can then allow tokens to flow between the chains based on market price or 1:1 pegs or pricefeeds. The advantage to this loosely coupled blockchains are that if any single chain goes DOA, only that chain is directly affected. It wont drag the entire ecosystem down.

Privacy via zcash
Security via bitcoin (dPoW)
Liquidity via native DEX + LP (liquidity provider) nodes <-> central exchanges
Price stability via pax fiat equivalents
Scalability via assetchains
Smart chain capability - requires customized assetchains, pax is an example

Did I miss a mass market requirement? Oh, yes. easy to use GUI and installer.

The way the ICO fund raising was front loaded due to the biggest bonuses, most of the funds came in when KMD was perceived as zcash clone + dPoW. So, even as more and more of the tech roadmap was revealed and deployed in the testnet, the pricing was mostly set.

Now, is a crypto ecosystem that solves all the mass marketability requirements worth closer to $10 mil or $100 mil marketcap? That is the question that the market will answer as the testnet becomes the mainchain and KMD is distributed and trading starts.

Even after all the above is released, we do still need a few actual reference implementations of a mass market dapp. I will be porting the pangea decentralized poker into KMD next year. Since all the assetchains are based on the komodo codebase, which originated with bitcoin codebase, any bitcoin fork developer (almost all altcoins) can create customized smart chains by using the komodo codebase.

Don't forget to take into consideration of what a KMD will be worth vs BTC. People who spent their BTC in the ICO are now Locked in and can't sell BTC or KMD. But when KMD hits the market the price will reflect this increase also. No one would buy KMD in the ICO and just lose money in the market.

This brings and interesting question though since KMD is supposed to make a Decentralized Exchange, so how do you get to Fiat in a Decentralized Exchange? Do you have to go to CoinBase? Do you use Tether and then pretend like you have Fiat?

Whether you already had BTC or bought it for the ICO doesn't change anything in my calculations above.  But of course if you disregard fiat entirely, then it's even a better deal now to buy BTCD than to have bought during the ICO, beginning or end.

However few people don't care about the fiat value of their BTC or BTCD or KMD. 

And if you ever spend BTC, then it's real world purchasing power is based on it's value in fiat, so it's certainly relevant.

It really depends whether you base your calculations on Bitcoin or USD as a stable medium. I personally base all my calculations on Bitcoin because I don't convert between USD and BTC. If you base your calculations on BTC (i.e. you already had the BTC and have no intentions of exchanging it to USD) you will do better by swapping BTCD, but if you bought BTC just for the ICO then you would've done better in the beginning of the ICO since your base is USD.

What are you basing that on?  The current BTCD price?

Right now BTCD is trading at .00375.   So 1 BTC will buy you 266.67 BTC.  The swap rate is approximately 50.4488 KMD per BTC.  So 266.67 x 50.4488 = 13333.33 KMD per BTC (through BTCD swap).   And the BTCD price is fluctuating between .0033 and .0041 recently, so I suspect your calculations were made when BTCD was a little lower.

KMD ICO ratio was 7746.522 at the end without the bonus.  BTC was 20% lower then in USD terms.  So 20% extra is 9295.8263.   So you still do better right now buying BTCD than you would have during the end of the ICO, with no bonus.

However BTC went up 40% since the start of the ICO on Oct 15.  So that means 7746.522 * 1.4 = 10845.1308 + 25% bonus = 13556.4135 KMD. So that is actually 1.5% more KMD than you would receive at start of ICO than right now buying BTCD at .00375 and swapping it.

So those who bought at the beginning of the ICO probably did better than if buying BTCD to swap right now...especially if they were buying a considerable amount. BTCD volume on Poloniex is so small that you can't even buy 1 BTC worth, without shooting the price up 10% or more.

Got to think that when the swap is actually open and ready for business, then BTCD should see a bump in price.  I am trying to accumulate all I can at these current levels.  Of course nothing is guaranteed, but it's a risk I am willing to take.   

Thats slightly annoying I got 3850 komodo for 0.5 btc investment in ICO (no bonus) but if I bought BTCD and swap it then I could get 6800 KMD ((

Yes, that is what the math currently says. We will announce the date for the snapshot when we know it.

The swap will happen through our ICO site.

Damn, I don't have any more fiat to buy btc