Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 758. (Read 1191996 times)

Komodo platform is going to be watched and talked about in the coming weeks with its initial release of tokens and more importantly how it would fair once its market open. Say dumpers will initially lower the price but its only temporary.  Full potential of Komodo will be in 1 to 2 years time.

Yeah, it looks that way.  With btcd remaining at such a bargain the entire time, it appears that has been the best avenue for investment. I still think the btc total will tick up nicely before the 20th

ICO will be ending soon, it will be very big if you add btcd markect cap, even without it, kmd is still very big project, it will be a 10k btc project?

Geez, how quickly the time flies......can't believe it's down to the final week!  I'm looking for a nice push during these remaining seven days

Just litle error it is 30% , it is fixed!!

Only 7 days to go.Komodo will going to achieve much more than what devs had set for.Thumbs up to the team

2 types of 35% bonus and the one is actually...0
can you please explain better what does that mean, i dont get it.

btw, these numbers looks good atm                                                                                                                                                                                                                                                                

Update your calculators!

35% bonus: 500 BTC
30% bonus: 0 BTC
25% bonus: 980 BTC
20% bonus: 606.84 BTC
15% bonus: 286.70 BTC
10% bonus: 38.18 BTC
5% bonus: 21.34 BTC
0% bonus: ?

Based on the current situation:
 - Komodo market cap: $8,000,000
 - Komodo coin price: 0.08 USD/KMD

Okay, you're right. There's no point if it needs a hardfork and delay launch; and since there will be a Zcash supply audit next year.

It would be  a hardfork and definitely delay launch to change parameters.

Also generating them is a highly technical process, so even if we have 10 trusted people they might not have the tech skills...

zcash team is planning on adding a total supply audit function next year. That at least allows detection of any foul play and since it is just a low probability event, being able to detect it will put an end to the fudding about it.

That being said, if you want to coordinate finding the trusted 10, then I can encourage that. We just have much higher priority things to do than deal with a fudvector against an infinitesimal probabilty unlikelihood

Some trusted people from the bitcointalk forum. ~10 people would be enough. The KOMODO team can choose and recruit them. Or they can be chosen by a poll, again here in the forum. It needs to be as transparent as possible.


Yes, I know ALL of them would need to be compromised. There is a 0.00001% possibility of this happening, I agreee with this. But it's not so much of a security problem, but a way to show that KOMODO is not a shadow of Zcash. Performing the trusted setup in a more transparent way can help build a lot of trust in this coin. Again, I don't know the technicals in details so if you think it would delay launch, then its definitely not worth it.



Actually I was not aware of a supply auditing. Can you give more info on that?
Thanks

What you suggest is easier said than done.

Who would these highly trusted people be? Who will recruit them and get them to spend the day that it takes to conduct the parameter generation?

I dont see any issues with how zcash generated the parameters, but if there is a practical way to generate our own then I can consider that.

At this point, this is not any high concern. Next year, when protected supply auditing will be available, there will be proof that parameters arent being abused.

I do not believe that the toxic waste exists as I am confident that more than one of the zcash participants is not colluding with all the others. You do realize that ALL of the participants would need to be colluding for the toxic waste to even exist?

And that if there is any funny business with it, there are only the participants that can be the culprits. And since a lot of the participants are highly vested in ZEC, to game the parameters would just cost more than they could gain, ie. it isnt a smart thing to do

But could we ever manage to make the process more trustworthy? They had prepared for it a long time and used very experienced guys to do it. If we would do the same it would definitely delay our launch.

Would it be worth it?

An interesting conversation happened today in the #notarynode channel





Currently the KMD exchange rate is set to 0.0001 BTC, which means it did cost ~0.1 KMD to get ~0.01 USD.



PaxEUR is not a real EUR, but a crypto that matches EUR's value

There needs to be a conversion from pax ->KMD -> BTC -> fiat
 - pax -> KMD is via paxwithdraw
 - KMD -> BTC via DEX
 - BTC -> fiat would be via localbitcoins




More detailed explanation

1. Paxdeposit converts KMD into the specified fiat coins in the fiat assetchain (paxprice shows the current conversion price)
2. The KMD disappears from the komodo chain and reappears as the fiat coins
3. Once the coin is in the fiat chain, it is usable as any altcoin, it just happens to have value of the fiat
4. On paxwithdraw (done on fiat chain), it disappears from the fiat chain and reappears as KMD on the komodo chain

The process is somewhat similar to sidechains, except that instead of 1:1 value it uses the fiat value.

Question

Yes, but impossible to know for sure how the market will value things.

If people assign X marketcap to 100% of KMD supply and the KMD supply is reduced 50%, the price per KMD should double. However, will the 50% that is in pax form be attributed to any of the KMD marketcap? At the microeconomic level, lower supply and greater demand means higher prices

Question

Initially there will be max exposure limits, so except in a case where KMD price would go to zero (and nothing would work in such case), there will be enough.

The opposite situation where KMD price would rise is no problem, it would just build capital, i.e. profits.

Also the new version "PAX2" will have the dynamic balancing enabled which will allow people to create interest paying savings account and also to be able to short any of the pax fiats. As long as there is active creation of positions biased via incentives, things move closer to balance so that price moves are compensated for.


Check out Komodo USD Explorer http://148.251.56.52/

I am aaking this again as nobody replied. Maybe jl777 could think about it.

I have read in previous posts that KOMODO will use the same parameters from the trusted setup like Zcash. Wouldn't it be better to generate our own trusted setup? KOMODO will be a very well funded project and could gather some highly trusted people in a controlled environment to perform the trusted setup. This way it can differentiate itself from Zcash and also build credibility.

This random wanker has been here since the NXT ico and have seen many good opportunities and many sureshot failures. KMD would have been a fantastic ICO if the ico was capped at a reasonable 5k or even 10k btc. It would have been over in few days.  

But james is greedy, opportunistic ( kmd ico started 3 weeks before zcash and ends 3 weeks after zcash launch. Coincidence??) and jealous (of his mate sasha from waves who raised 30k btc) and he is paying the price for it.

As for my involvement in kmd ico i am on sidelines. I have bought btcd but wont hesitate to sell all btcd if the ico raised > 10k btc.

Regarding the discussion about SuperNET ICO... if you look at what has been achieved today, it should be clear that SuperNET is a success.

SuperNET was a startup, and like any startup it did have risks. Many startups run out of funds, hit the wall, not able to deliver, and then slowly fade away until they are forgotten. After 2 years SuperNET is still here and not going anywhere.

How did the team manage the funds? Very strict budget use, which allowed the project to survive many crisis, adapt, and adjust its goals and roadmap.

Were investor's interest protected? Yes: conservative expenditures and projects did not get abandoned. Best example: BTCD.

What has SN delivered? The Iguana codebase, which jl777 developed for 2 years. Now everything is possible: atomic swaps, pegged assets, assetchains, smartchains, dPoW, etc.


What if someone would start developing our current roadmap from scratch... how long would it take to complete? Two years sound pretty fast considering the scale and potential problems & obstacles. If you have followed SuperNET for the past two years, you are aware that there has been problems & obstacles. However, now the hardest problems are solved, backend is ready, only some bugs remain.

SuperNET and Komodo have great future prospects, and a strong history to show for. Of course there has been some setbacks too, but any entrepreneur or startup could tell us that no one can avoid all failures and setbacks.

Today SuperNET & Komodo are about to succeed, and Komodo is benefiting from the hard work SuperNET and jl777 have done during the past two years. Because of the strong basis our development has been really fast. We almost have a fully working product even before the ICO is over, and we included some bonus features that really were not on the initial roadmap. What are those? DEX, pegged assets, assetchains.

So what is SuperNET and what does it have to do with Komodo? SuperNET is a horizontally run organization that is building open source technology. It's main product is called 'Iguana', and now we are upgrading its infrastructure coin from BTCD to Komodo. SuperNET is not a coin, but just an asset listed on the Nxt Asset Exchange.