Ninjastic
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Board Announcements (Altcoins)
Re: [ANN][KMD][dPoW] Komodo ICO - Zcash Zero Knowledge Privacy Secured by Bitcoin
by
RichardT
on 03/01/2017, 21:43:02 UTC
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.

Thanks for answering my questions.  I didn't realize there could be that big of a cut in terms of candidates.  I was looking at the Komodo election website and saw that there were only 33 candidates currently registered and remembered that there could be up to 64 spots available, so I came to the conclusion that most, if not all the candidates will likely get elected.  After all, isn't it in Komodo's best interest to have as many running nodes as possible?