Re: [ANN][KMD][dPoW] Komodo ICO - Zcash Zero Knowledge Privacy Secured by Bitcoin
Rules for future node elections have not been released by dev team afaik. Best for the devs to work on the software and network stability now, let things settle down after the launch, then I'm sure details for future elections will be made public.
One thing for certain though, many more candidates will run next time, notary nodes are in the words of j777 'money printing machines' at a price just higher than where we are today
Forgive noobie question, but why you say 'money printing machines'?
Because they get to mine most of the new coins .....while the rest of the world gets to mine the left overs
Cheers Jon
So 64 notary nodes share majority of mining rewards between them, and non notaries can mine kmd but at a disadvantage.
So consensus is PoW like bitcoin, but the notaries work together and share block reward equally like a cartel.
And notary cartel membership is voted on by coin holders, preventing cartel from misbehaving.
A very interesting combination, not fully decentralized, but much more structure than other crypto coins.
Trust in the notary cartel will depend on election process, very interested to see more details when available.
Yes, you have the basic concept right! However, a cartel is a bit harsh word!
The notary nodes have less power than currently believed. They cannot do a 51% mining attack. The worst they can do is stop bitcoin notarizations, which would result a less secure KMD network. They could also not include a transaction into a block, but would be noticed by everyone, and then any other node could include that tx in a future block. There is also a PAX price attack vector, but we will talk more about PAX later.
So if the notary nodes want to hurt KMD the best they could do is:
- stop notarizing KMD hashes into bitcoin blockchain
- exclude a valid transaction from a block
We will address this issue in our next article! Stay tuned!
HELLO ADMIN kindly help me, as I withdrawn all my KMD via my seed before 31 Jan and i see that my KMD has been sent to my Address mentioned in the ICO website but in my available balance its 0 KMD howz it possible? and where are my KMD?