Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 747. (Read 1192398 times)

If you read about the lengths just Peter Todd went to for the parameters ceremony, and understand that he and all the others would need to be colluding, you should be able to rest easy.

zcash is working on a way to audit all coins in the aggregate to put such issues to rest, even though i really dont think it is any real issue.

All the swapped BTCD will be held till after the swap period is over. Its disposition at that point will be decided, but whatever happens to it, wont affect KMD in any way. Also the redemption rate will be reduced by 5% APR to compensate for any staking during the next year

Is it correct that there is a possibility that due to the genesis and anonymity of this system as in zcash that unlimited coins could be produced and no one would know?

If there is a collusion in zcash they they could use that key or information to produce unlimited Komodo coins and again no one would know?

Can this be explained?

Also with the BTC ICO is now over so the next is a full year is continuing ICO of receiving BTCD.

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So i assume as BTCD comes in it is held in one account.

That account will never spend or pass out any BTCD?

In an ideal world all BTCD outstanding should go to that account and as that happens there is a reduced number of coins so volume available and selling pressure on BTCD should reduce and actually be a proxy for Komodo before and after Komodo release. And at the end of the year that account will or should hold every BTCD ever issued. Will BTCD be continued to be mined over this year, so to create more BTCD and thus Komodo?

And there is no way that the BTCD stored as redeemed could ever be double spent into the Komodo redemption and create a circle where BTCD is just moved over and over into the ICO? Especially if the first point above is compromised and unlimited coins get created by collusion?

 Sorry for the doom and gloom questions but these are the only ones i have outstanding.

Seriously, do you think it´s going more fast if the same questions get repeat on every page here? 

In every ICO thread the same. Whining about bounties, asking about Polo.

Still no information about polo and other exchanges?

Please dont be confused.
The ICO phase was for BTC investors and BTCD peoples didnt have to do anything.
The next phase is for BTCD peoples, BTC investors dont need to do anything.

When the BTCD is into the ICO site, then we can do the elections and distribute the KMD.

We are now waiting for the ICO site to accept BTCD. If you invested with BTC, nothing you need to do.

I see some flaws in your logic...

First off, if others can use KMD chain and get similar benefits, then it seems much more economical to use the KMD chain instead of BTC. It is rather expensive to write to BTC chain.

Most important mistake you are making is thinking that the BTC community needs to agree to accept transactions. Remember bitcoin is permissionless, nobody needs anybody else's permission to send a transaction to the blockchain.

Granted, they could break bitcoin so it is unable to accept transactions at all, then certainly the KMD transactions wont get to the BTC chain as BTC wont exist anymore.

You logic is basically concluding that KMD will force BTC to kill itself.
I disagree

But here in faq section https://komodoplatform.com/faq/
They are asking to use BTCD address whose private key is with you because they are also talking about giving revenue assets along with komodo. I have invested with bitcoin but now getting confused about all this steps. I have thought of using btcd addresss from poloniex but with it i can't get that revenue assets along with kmd.

We try to get everything ready for the launch, which is 2 weeks from now. There are two different wallet projects. Read our newsletter for updates!


We are trying to make it so, that you could send the BTCD to the ICO site, participate in snapshot and do the swap for KMD. Because of this effort we haven't announced any snapshot date yet. It's a work in progress.


Thank you!

I can understand that's the wish of Komodo and I do wish it become true. However, if Komodo has early success on it, there will be people cloning the idea and also hook up on the bitcoin blockchain, which will certain disturb the normal function of BTC, and BTC community won't be agreeing on it I am sure...

Focus is to get the network up and running. Once that is done desktop wallets will be the next step.

If you invested in komodo via BTC you do not need a bitcoindark wallet.

If you have BTCD, the komodo ICO website will have a way to deposit your BTCD for the snap shot.

I have also invested some in komodo as i think komodo have some potential but when i came to know that we need to have own bitcoindark wallet installed in our machine to get KMD, i was surprised. Installed wallet on windows machine but still under 30% of sync in 12 hour. This is really pain in ass situation, can't we just hold those bitcoindark we will get in poloniex wallet? If i do so what i will loss. 

Singing a new tune now eh 

Do you realize that you get something for free? 

You still can move them. Snapshot date isn´t announced yet.

ico end, very successful one, nice job.

That sucks. I have my coins on poloniex. It's so annoying to move them around like that. Can't poloniex give us REVS? Is it too late for me to move my coins or can I still get REVS if I move them?

KMD will be a rare gem of investment. Lucky for those who got into it now. By the time the ZCASH pump starts early next year, KMD will be ready with all the bells and whistles. Guess what will investors buy 1 ZEC at 100 dollars or 1 KMD at 1 dollar?

when will there be a desktop wallet?

I think it's likely that many small KMD holders will vote for the most reliable node operators using reputation for the good of the network in the first election, but history from PoW mining does show that pools naturally developed as a consequence of both difficulty and block reward in fiat rising. I can't think of any reason why this wont happen with KMD too unless it is specifically excluded in the voting system rules by jl777 and the other devs. NXT has forging pools so small investors can share forging revenues which helps the nxt network, Komodo will probably develop voting pools so small investors can share node rewards.

bitcoin mining has centralised in china due to cost factors in electricity, this wont happen with komodo though as voting is based on stake, so there is no advantage from hardware or power costs. Voting pools would compete based on fees and service, and people can change their vote every election, so bad actors would not survive long