Topic: [ANN][KMD][dPoW] Komodo - An Open, Composable Smart Chain Platform, Secured by B - page 820. (Read 1191989 times)

send it to yourself if you want to

Does this mean that I can't accrue the 5% APR and end up with more? I only get my 5% APR when I spend them(coins that I own in local wallet)?

Cheers Jon 

I was thinking more of how parameter generation happens in both, I just read this comparison,

http://blog.zcoin.tech/zcoin-and-zcash/

KMD doesnt have staking built in and utxo based staking adds a lot of blockchain bloat, NXT based staking adds a lot of extra work and both increase chance of bugs.

my opinion is that spend based accrued interest payments is the lowest footprint method to reward the 5% APR and ultimately I think that is what people care about, ie. getting their 5%

you are earning the 5% automatically, all the time.

OK so I get my 5% APR only when i spend it, I can't stake it? sorry if I seem stupid but i confuse staking and mining

Cheers Jon

1) BTCD isnt mined, it gets 5% APR via staking

2) the mining by notary nodes is designed to pay for the costs of running the notary node.

With KMD, the plan is to payout accrued interest (max weekly) whenever you spend an output. So the 5% from 1) is achieved without any need for staking.

you have it wrong

Please tell me that I've got it wrong

1) to mine BTCD I just need some BTCD in my wallet online, unlocked for staking

2)To mine BTCD2/Komodo I need to run 1of 64 notary nodes

Cheers Jon

At 25 cents per KMD the mined amount will cover the costs of the notary nodes, so the subsidy is not expected to last forever.

The BTC txfee costs will be less than the costs for the notary nodes.

I want to have at least a 10 year buffer, so for all that are complaining that we are raising funds or it is some sort of greed, they need to realize that it costs BTC to pay continuous BTC fees and to have many high end servers.

Once it is in place, it becomes a barrier to entry. Granted anybody else could fork the code, but still the entire notary nodes have to be reproduced and the BTC for txfees would be needed. Also, once KMD is live, people can just use KMD and obtain the benefits of being secured by BTC (indirectly) at a fraction of the cost.

Each user of KMD will create demand for KMD, usually on a continuous basis, and that will provide a base of demand. We will be migrating the various NXT assets to assetchains, which will use dPoW so there will be some reference cases available. By using KMD to secure the assetchains, for a minimal cost, each asset will obtain BTC level security for its transactions and not be a derivative crypto at the mercy of some master chain. the txfees for users would be denominated in that asset and the asset issuer would just need to purchase enough KMD to pay for the service.

Beyond assetchains, there will be smart chains which are special purpose blockchains that implement a dapp. think of it like an ASIC that does one thing and only one thing, vs a CPU that is running and OS and doing many things at once. We expect this to be a very popular way to utilize blockchain tech and the isolation it provides combined with efficiency that is further secured by dPoW will hopefully make a good demand for KMD.

I dont know why everybody assumes that the max specified amount is anything other than the maximum.

We had to pick some limit to prevent whales from buying up the entire ICO, 16% does not seem like an unreasonable maximum, especially since the actual amount coming in will likely be a lot less. it cannot be more, it will most likely be a lot less.

there is no rush for 5000btc. angel investors proactively approached us and made a reasonable request to get a slightly bigger bonus. we accomodated and made the identical offer available to everybody else.

if you criticize us for working with investors to secure funds, then maybe the fact that we are conducting an ICO to raise funds has been overlooked? is the criticism that we should have rejected the funds?

If you criticize us for offering the same deal to everyone, instead of keeping it secret and/or closed to public like most other projects, does that mean you prefer that we keep secrets about this or dont offer it globally?

Angel investors appear to have provided enough for the minimum already, so no worries on this

you must be kidding.

why would we choose an obsolete 3 year old libzerocoin implementation that has significant bloat issues?

it would be like choosing an Intel 8080 CPU over Xeon

so no, never considered zcoin

Did the dev team ever consider using Zcoin over Zcash?

What happens if no one sends BitCoin in for the ICO? What is the minimum to start the coin?

Whilst I don't really like these sort of things it's important to note that people using BTCD to 'buy-in' to the ico will benefit from this as they get the averaged ico bonus which would include these higher %'s.

With this announcement, I think I will pass Komodo ICO and just mine ZCash. What is the rush to get 5000BTC up front?
Good luck with your project.

But you got to admit the max greed on this one. dev gets ICO plus 10% of the supply, plus whoever bought into his unfinished projects in the past. You all just a bunch of sheeps in a grand scheme of things lol don't be blinded

Looks like an interesting coin. Wondering if I should join the campaign. But I'm a little iffy over the fact that it needs Bitcoins to work. I know it will be a while, but what happens once thouse Bitcoins run out?

zcash tech is indeed pretty cool
the bitcoin that is sent is in transparent mode, so it can be traced
however, once it is in KMD, then you can protect it by converting it to a zero knowledge proof. And then transact with it in that form

https://github.com/zcash/zcash/wiki/specification