I just went through the Komodo white paper on its delayed Proof of Work consensus mechanism (
https://komodoplatform.com/whitepaper/). Has anyone else?
What do you think of this mechanism that notarizes transactions on to the bitcoin blockchain - providing stronger security (an attacker will have to bring both networks to succeed), but whose success also depends on the continous success of Bitcoin? What happens in the case of a the "split" bitcoin blockchain (Segwit, bitcoin Unlimited, etc)? Supanet (Komodo developers) appear to be staking a lot on this mechanism.
Thoughts?
Thanks!
I think without Bitcoin, there is no Komodo. I don't know if they can split appart Komodo of Bitcoin blockchain and how hard it is to do that. If there is a split like Bitcoin Cash, it doesn't touch Komodo i think as they still will use Bitcoin blockchain. But i don't know how it really works. I am not a Bitcoin blockchain developer.
But as Komodo depends on Bitcoin blockchain, i don't know about the transaction fees. Does the Bitcoin miners work on the Komodo transaction too? As they are notarized into Bitcoin blockchain? And i don't know what does 'notarized' means here. Maybe it is about the 'nodes' who needs to read/write transactions into Bitcoin blockchain.
But it is a really interesting idea.