Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 743. (Read 1191996 times)

Boogieman made a long update about the Iguana multiwallet.

Coin supply was fixed for bounties,devs etc how can you now announce additional%25 bonus to your signature campaign participants who chose to get paid in KMD?From where those additional tokens come if all of participants opt for KMD?

It still says that?

The snapshot date has not been announced yet, because we first want to integrate a BTCD deposit feature to our ICO site. After it anyone can send their BTCD there to get both the REVS asset and the KMD in swap.

on the komodo HP it says: snapshot roughly one week after the end of the ICO. Is there already an exact date for the BTCD snapshot yet?

Voting is mandatory when people want to claim their KMD.

There are some other facts that can be considered when estimating the percentage of voting needed to become one of the active 16 within one region:

- A lot KMD will be held in cold storage by exchanges. When looking to lisk, there are about 50% of the supply locked. Polo has 30% in cold storage alone, not counting other exchanges. Recent ICOs managed to "lock" another 10% of the supply. Assuming that we would have a similar scenario with KMD and to be on the save side lets calculate with "only" 30% locked.

- Not everybody will vote. A lot people only use it as an investment strategy as a set and forget arrangement. Others are simply to lazy to vote or have dust ammounts where it would not make sense.

- Another fact is that BTCD is here since 2014 and in my assumption a non negligible part of the stash is lost. I can recall in early 2015 a member claiming of having lost a 5-digit ammount of BTCD because of having lost privkeys for the wallet.

So if we assume 50% of all KMD will go to vote, which IMO is very optimistic, but lets assume that for now, then youd need about 0,5/16 of voting power, which is a bit more than 3%. Then you are with 2,7% VERY close to that and you would have VERY good change to get an active spot IMO. We just have to shift our view from the ideal world to a real life scenario.

Cheers!

Nice Interview!! 

Interview!

Audo had an interview with Superbcrew.com. In it he talked about SuperNET, Komodo, and their vision & roadmap. Enjoy 



http://www.superbcrew.com/supernet-aims-to-decentralize-financial-services-and-bring-them-together-under-the-same-roof/

Thank you for the explanation. I appreciate the information.

Depending on the market price of KMD, a notary node is either a way to make a bit of money each month in exchange for a bit of time, or a money printing machine.

Based on the randomized round robin, each notary node (at 64) will get approx 2000 KMD per month. At 6 cents, this requires some BTC subsidy to cover the costs of the notary operators. At 25 cents, it is self-sufficient without any need for BTC subsidy. At $1, well it is a nice income in most parts of the world, etc.

So the election dynamics will definitely change as the KMD market price changes. However, KMD enabling people with money to make more money, well that is the golden rule and I dont see anything wrong with that. Especially as in order to protect their investment, they will need to ensure stable servers.

Thanks for the update on the forum James. It was nice to see how most of the testnet node operators together responded quickly and tried to bring the diff to normal heights. It was going to the roof!!

Cool to be part of this. 

Awesome!  This would pay for a lot of testnet hardware expenses.

Yesterday we dealt with a diff bomb!

It was a self-inflicted one due to a small problem with the mining algo, but that combined with a few missing notary nodes to almost stop the blocks.

Diff peaked at over 10 billion.

The good news is this was a nice fire fighting drill to see how well komodo responds to such an event. No matter how much you prepare, the unexpected will always arrive unexpectedly. So it is good to be able to respond.

And respond we did. I was already a bit nervous about the rapidly rising diff and had made a corrective release, but we needed a much more forceful way to reduce the diff. I also solved how to avoid such a diff explosion (and implosion) in the future and the good news for non-notary miners is that at least 1 block in 64 will be available for normal mining. Additionally any miner that is not online to mine their blocks will lose it to the non-notary miners. Though the notaries can also do non-notary mining.

I am not sure what percentage of notaries will be offline at any given moment, but now there is a specific financial penalty of the lost KMD to provide a direct feedback to incentivize being online 100% of the time.

By having at least 1 block in 65 go to external miners, the diff will be tied to the actual hashrate. It might sound easy to create a dual-diff mechanism that allows notary nodes to mine at easy diff, while still allowing non-notary nodes to mine at normal diff, with a seamless transition between the two.

Its actually quite tricky to avoid all the edge cases and I have had to evolve the algo to arrive at the current solution. Initially it was a literal round-robin where for a given block only one notary was able to mine it at low diff. This was not bad, but it affected the block production whenever a notary node is not online. Also, the lowdiff makes it trivial to find a block and without a delay, we would end up with a really fast block.

There is another issue that needs to be avoided and that is a mining war between notary nodes. While this is not the end of the world, the financial model is affected as the mined KMD is expected to be a significant part of the notary's revenues and we are wanting to minimize the BTC subsidy needed. If real mining resources are needed on top of everything else, each notary's financial equation changes, not to mention the reallocation of the precious KMD.

Ideally, we can rely on the notary nodes to not compete as they are a team, but considering the massive controversy over what region some border countries belong to, I would feel better if there was a technical enforcement of the round robin.

Now this timer is what created the diff explosion. I had it set to 45 seconds, figuring that it was close to 60 seconds and at the time it was before the ratification of the 64 notaries, so there was a lot of non-notary blocks, thus minimizing the faster block issue. Granted if all notaries changed their timer to 30 seconds or less for whatever reason, this would have been an issue.

Then the ratification of the 64 notaries got into the blockchain and activated.

At that point the vast majority of blocks came in at 45 seconds to 50 seconds, which triggers a diff increase to slow down the blocks. Of course, the notary exemption doesnt care what the actual diff is, so we ended up in a never ending increase of the diff. Which by itself is not such and issue as if a notary is going to mine a block at low diff, what does it matter? It matters when the designated notary node is not there and it would take 20 million CPUs to mine the next block!

I had enhanced the set of eligible notary nodes for low diff to be the chosen node plus any notary that didnt generate any of the previous 63 blocks. Which worked quite well until we got to where all active notaries had generated a block recently and the current chosen notary was missing.

After I released a few hotfixes, we ended up not able to tell which was the right mainchain as the blocks were so slow and you cant resolve a fork on the block it forks. Anyway, after a notary wide fire drill to update to the hotfix version, we got the blocks coming in regularly again and the diff is down over 1000x and is currently ~3 million. Another day and it should get down to a reasonable mineable level which is required for proper operation of the system.

The current post-82000 height solution to this is as follows:

A) At any given height, any notary that hasnt generated a block in the prior 65 blocks is eligible for low diff.

B) After a block is mined, a minimum of 59 seconds from start of mining is ensured before submitting to the network, with another 0 to 2 seconds randomly added.

I believe these two simple rules achieves all the desired properties, including avoiding a mining war between notary nodes and preventing artificial speeding up of blocks.

There is little to gain from reducing the 59 second delay as after a block is mined, a notary needs to wait for all the others to mine a block and also the one external. So all reducing the time would do is create one fast block. And if many notaries somehow all decide to do this, we have the diff explosion to disincentivize such fiddling. What point to generate blocks a bit faster if it just creates a diff explosion event. Also, it will be easily seen on the blockchain that a specific notary has adjusted the setting, so it is not anything that would go unnoticed.

Blocks will come in like clockwork, literally, as most all the blocks are based on the clock 59 seconds + random(2 seconds) for average of 60 seconds. Currently this is not active, but already it can be seen that blocks are quite regular: http://www.zpool.ca/explorer/1720

This method is also very resilient from a missing notary condition as it does not matter which notary, just any notary that doesnt have a recent (within 65 blocks) mined block. which means if any such notary is available, a new block arrives. After the initial race as to who wins the intial blocks, we end up in a randomized round robin as at any given block, all notaries have already mined a recent block and have to wait for the single eligible node to mine its block.

And here is where the external (non-notary) mined block comes into play to calibrate the diff to reality. Whenever all notaries are waiting, which would be (1 + inactive notaries) blocks per 65, the block is up for grabs for external miners and ineligible notaries.

It is a good sign that by simplifying things it achieves more. If anybody sees any issues, please post! There might well be a way to improve it more, but at least the current solution guarantees blocks to online notaries, gets us clockwork blocks, calibrates diff to reality and penalizes offline notaries.

My assessment is that Komodo during pre-mainnet has responded to a blockchain event as well or better than most mainnet coins and kudos to all the notary operators!

On the coding side, I am down to a couple of final issues dealing with the fiat chains and once that is done the current mainchain can become the official mainchain. I estimate 95%+ chance that the current "testnet" chain will become the actual mainnet, which means all test coins mined are the real KMD

i totally agree with your point, but however zec's price is not a match and won't well cover with it production spends. in another way , its not a profitable coin for miner. so i wish zcash devs enjoy their 20% shares and hold it tight, else it will plump again.

I am always looking at new technology and how to best utilize it. If SAFE gets established and provides a good value, then I would certainly consider integrating it.

However, it is not any high priority at this point as I want to get the current round of projects completed first

A lot of voting will be somewhat random and spread out across all candidates, so any node that gets a significant stake voting for it will get a very large chance to win.

It is like the swing states votes. A relatively small amount of voting power determines the winner.

I think it is good that a large stakeholder is actively campaigning and I would assume many others would too and so you should get votes from the rest of the voters.

Yes but time period is not determined yet.

It such a wasted opportunity that I have not participate in notary node election . What a great opportunity would it be. Is there another round of election after the first?