Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 790. (Read 1191996 times)

Where does it say KMD needs to get 30k BTC? That is the maximum to protect investors just in case a huge whale decides to invest.

It has already been stated what has been raised up to the point is enough to proceed with Komodo.

I would suggest for you to actually do some reading and not make ignorant comments.

What's your motivation not to keep the cryptographic toxic waste? You cannot break the privacy. That is great, so no one will try to force you to.

But you can for yourself milk komodo like a cow. Generate yourself a few coins every once in a while. You just would not milk your cow to much so no one notices. Isn't that just way too attractive not to do?

Launch an ICO for a new coin that has any remotely connection with revenue or any technological evolution and get rich. For example a coin for fast international transactions, a coin that has faster transactions than bitcoin, a coin for further anonymization of transactions, a coin for e-sports competition for ordinary people, casino games, betting, an investment fund for altcoins, a coin that uses revenue for supporting buys at exchanges, a coin for paying people publishing articles at an information site.

1000 btc which is over $ 600 000 would only result in "... not a lot of development". The majority of the funds could go to the project managers as pure profit with no benefits for the ico investors. But with another 4000 btc, adding up to 5000 btc which is over $ 3 000 000 the ico investors would "...  staff up a group of C coders and GUI devs fulltime for some years".

"Ideally we can recruit half a dozen high caliber C devs for continued enhancement of the tech, along with a similar number of GUI devs. We will of course manage with less, and we probably have to. Meeting the funding goals would allow us to do rapid development beyond the features we have announced."
https://komodoplatform.com/faq/


I question the need to pay notary nodes about $ 500 each month. The continuous expenses should be minimized since they add up.

"Notary nodes receive a monthly wage of ~$500 (to pay for expenses and as a reward) for the effort and resources contributed. Voters can also use the testnet KMD as one metric in evaluating a notary node.
The Komodo platform will require 64 notary nodes to which the vast majority of the 3 KMD block reward is expected to be allocated to. If the market price of the monthly 1/64th share amounts to less than $500, the Komodo team will use the ICO funds to cover the difference."
https://steemit.com/komodo/@komodoplatform/notary-node-elections

"The primary use of funds is for the dPoW consensus system implementation. In order to secure Komodo blockchain, the Bitcoin transaction fees must be paid. Capital is also needed to ensure there are enough high capacity nodes around the world. Eventually, the system will become self-sustaining, as other coins will use Komodo to get the benefits of dPoW."
https://komodoplatform.com/faq/


From a altcoin blog, translated from german to english with google translate:
https://altcoinspekulant.wordpress.com/2016/09/16/komodo-ico-macht-bitcoindark-btcd-hochinteressant/
"For me, James aka jl777 belongs to the clever minds of the cryptoscene, but still does not have a great degree of recognition. This is because James has been concentrating on the Nxt environment for a very long time, which has been successful since 2013, but has remained in a niche and has not been noticed by large parts of the cryptocommunity. The crypto-conglomerate which he created during this time is the same and is difficult for the outsider to see through. Here is only a part of it:"

Ethereum raised 18 million USD in ICO.

Is Komodo developing something novel like ethereum? Why does it need 30K BTC or 18 million USD just to patch up ZCASH protocol on bitcoin blockchain using notary nodes?

The greed is strong with this Dev!!

excuse me but 10k BTC ?
talking of 6.400.000 US$
come on , what are u guys trying to build ? a new internett or a new currency ! i would take this a notch down, ICO is supposed to get a project started - not a funding until 2030 + new ferrari for the Dev Team !!

Ethereum raised 18 million USD in ICO.

Is Komodo developing something novel like ethereum? Why does it need 30K BTC or 18 million USD just to patch up ZCASH protocol on bitcoin blockchain using notary nodes?

The greed is strong with this Dev!!

It depends on what level of the project you mean. There are the mission critical parts, like paying for bitcoin fees and notary nodes.

1000 would be enough for a reduced bitcoin notarization frequency and smaller number of notary nodes, but not a lot of development.

5000 would allow to have the fastest bitcoin notarization frequency, all 64 notary nodes and staff up a group of C coders and GUI devs fulltime for some years

10000 would allow having many LP nodes all fully funded for the lowest trading spreads and many liquid trading pairs

Above this would allow a warchest that can make opportunistic trades, arbitrages and other means to generate working capital and set up a very long term organization of the above. Along with some large scale marketing. Of course, even at the lower funds raised we will be doing marketing, but with a limited budget.

All depends on how many BTC are raised. If it is a bloated ICO raising anywhere > 10K BTC there will be little return for ico investors.

For ICO investors to have massive returns the ICO has to raise < 10K BTC.

I miss the old days when ICO lasted for only a week or were limited to a reasonable amount of BTC. Currently every noob know about every ICO and there are no buyers left when the coin hits exchange a week after finishing ICO.

There’s a kind of “cryptographic toxic waste”, which if it were to be created and exploited, would allow the attacker to counterfeit currency (although it wouldn’t allow them to violate anyone’s privacy). Our plan to prevent that uses a secure multiparty computation in which a set of well-known people each contribute, in such a way that if any one of them successfully destroys their shard, then the cryptographic toxic waste can never come into existence. We’re also working on other potential long-term defenses against risks like this.

The other theoretical attack against this is that ALL of the people involved in creating the parameters either collude with everyone else or they run compromised hardware/software that allows an attacker to reconstruct the entire dataset.

Now maybe some govt can run a mission impossible type of op to counteract all the countermeasures in place, but even if the parameters are compromised, the privacy wont be. And since the only entities that I can conceive of that can even think about running such an operation can already print all the money they want, they have no incentive to do such a low return project.

Yes, our plan was to manually change them the next day, but it turned out it would take longer. Before we do that we will backup the database, for security reasons. So it takes a bit longer than first anticipated.

Sorry for the delay.

I bought on the 16th and I only received 20% extra.
I still don't see the adjustment 25% rather than 20%.
I thought it was going to get adjusted two days ago.
Thanks

Yes. I'm wrong . it's 25% bonus. thanks for your correction