Hi all!
I have read the thread and you guys seems to have good package with Komodo and there was lot of things that I liked. Although few concerns came up to my mind. I know the whitepaper is not ready yet, but maybe somebody have info already.
- Scalability
If thinking about further, and larger adoption of Komodo usage, how it will handle the rising transaction amounts?
Is it dependent to Bitcoin scalability? Everybody knows it's going to be slow process to scale that platform up.
Dependency with zcash:
So if something goes wrong with the zcash development, and it don't get ready any time soon, it's going to delay the release of Komodo mainnet also, right? In my view, there's discussions about zcash platform and will it be the right thing to do.
Question about BTCD swap:
I understood that all of those 90% of KMD will be sold for BTC/BTCD investors, but how do you guys know how much KMD:s will be given to BTC investors, since you don't know how many BTCD owners will swap in 1 year swapping period? Or do you plan to wait 1 year and then share the percents, when we know how much to give BTC investors and how many to BTCD swappers?
James I have another question.
There are going to be 100 million KMD for ICO
Let's say (in simple way) there are 1000 people who give 1 BTC each. Will they get 100,000 KMD each (100 million / 1000)
and if there are 30000 people who give 1 BTC each they get 3333 KMD each?
In other words all of those 100 million will go to those who buy?
90 % of the Komodo coins are distributed to investors (BTC+BTCD)
10 % will be reserved for development, advisers and bounties
So yes, you got the basic idea! The supply is fixed, but we don't know yet how much money Komodo raises.
I have factored in bitcoin scalability issues by budgeting significantly increased txfees. So if bitcoin cant manage to increase to 2MB blocksize, then we just pay higher fees. Since komodo will then be doing the bitcoin notarization, other chains/users of dPoW via komodo wont have to worry about the bitcoin side. So komodo should actually moderate the bitcoin scaling problem.
zcash has a beta release now and the other day I made a komodo testnet based on it. Of course if zcash team decides to delay for whatever reason, I would defer to their judgement. They are one very sharp team. While this does create a bit of uncertainity as to when the mainnet can be released, it does justify the early bird bonuses.
We will assume all the BTCD will be redeemed. If after a year it isnt, it would just go into working capital