Ninjastic
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Board Announcements (Altcoins)
Re: [ANN][KMD][dPoW] Komodo ICO - Zcash Zero Knowledge Privacy Secured by Bitcoin
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KomodoPlatform
on 03/01/2017, 20:40:37 UTC
Quote from: gbdesai on January 03, 2017, 07:08:55 PM
Quote from: KomodoPlatform on January 03, 2017, 06:17:57 PM
Quote from: RichardT on January 03, 2017, 04:35:27 PM
Quote from: KomodoPlatform on January 01, 2017, 09:11:27 PM
Quote from: RichardT on December 31, 2016, 06:30:49 PM
Why do we need 2 weeks for notary node elections?  This is the first election and as it appears, all the candidates are very likely going to get elected. So what's the point in making the process that long?

The elections are important, and we must give enough time for everyone to participate. No ninja elections Smiley

We understand that everyone would like to see KMD on the markets, but basically there's no real rush to do this. We want to make sure we get a good network up with quality notary noes, thus 2 week elections.

That's kind of my point.  I thought everyone who would have participated already has.  The deadline to announce candidacy is over is it not?  And it seems that pretty much all the current candidates will get elected as notary nodes.  So at this point, it doesn't make sense to have a two-week long election when everyone running is going to get elected anyway.  Would make more sense later on when there are more candidates running to vote for.  Maybe there's something I'm missing that you can point out.

Mathematically 8 nodes will not get elected, no matter what happens. It could be more though, and probably is. We do not guarantee funding for 64 nodes, but for 32. In the absolute worst case scenario 36 nodes would not be elected, but that would require every candidate to run with 100% subsidy requirement (which is not going to happen). At this point we only know that the number is somewhere between 8 and 36.

A realistic guess would be that ~15-20 nodes will not get elected. That's enough to take these elections seriously, and as you can see many candidates do. Some have already invested considerable amount of money into this as they have been running the nodes for months.

The current situation is definitely not nice for the candidates, as some of them have to continue to pay money to keep their nodes online, and there is still no guarantee that they get elected. We did warn about the financial risk the candidates are taking, but we try our best to short this out and get the elections started. As far as I can tell the ICO site is very close to get finished, although it has taken a lot longer than we all hoped and thought it would.

We cannot delay this thing forever, and I think we should consider alternatives options if necessary.

Have you guys considered a deadline for Plan A? Like if site is ready by Monday go with Plan A, if not.do Plan B.

To elaborate, I think it's clear that the extra time has been useful to shore up and continue development on a number of fronts, and if that needs to continue, I think that's time well spent.  But in case all that we're waiting on is the ability for the ICO site to accept BTCD transfers for those that don't hold a wallet, it may be worth calling a deadline date so things don't stretch out longer than anyone wants.

I can't imagine the revenue assets will add so much value that people will lose out so much if they can't manage to install the BTCD wallet themselves (vs. leaving on an exchange).  That being said I've installed the client, so maybe this is a selfish argument Smiley

Yes, if we find plan B that is technically possible we could go with it. I asked today if it's possible, but my impression is that all in all the ICO site is pretty close to be finished, and we will go with the plan A.

Making last minute changes regarding the snapshot is not good, as we have promised people they could send their BTCD's to the ICO site. Installing and running the BTCD client is a bit difficult, and the syncing takes days.