ANN Komodo ICO - Zero Knowledge Privacy Secured by Bitcoin by jl777

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· @jl777 ·
$0.92
ANN Komodo ICO - Zero Knowledge Privacy Secured by Bitcoin
https://komodoplatform.com/files/ann/00.Mainbanner.png
https://komodoplatform.com/files/ann/Divider.png
https://komodoplatform.com/files/ann/01.Mission.png
https://komodoplatform.com/files/ann/Divider.png
https://komodoplatform.com/files/ann/02.Introduction.png
https://komodoplatform.com/files/ann/Divider.png
https://komodoplatform.com/files/ann/03.Whitepapertitle.png
https://komodoplatform.com/files/ann/03b.WhitepapercontentA.png
https://komodoplatform.com/files/ann/Divider.png
https://komodoplatform.com/files/ann/04.ICO.png
https://komodoplatform.com/files/ann/Divider.png
https://komodoplatform.com/files/ann/05.BTCDswap.png
https://komodoplatform.com/files/ann/Divider.png
https://komodoplatform.com/files/ann/06.Escrow.png
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https://komodoplatform.com/files/ann/07a.Sigcampaigntitle.png
https://komodoplatform.com/files/ann/07b.Sigcampaigncontent.png
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https://bitcointalk.org/index.php?topic=1605144
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 10 others
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vote details (74)
@apes ·
interesting - went do you publish the whitepaper?
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@jl777 ·
I submitted the draft for review and editing, not sure when it comes back with all the revisions.
I can say part of dPoW design was inspired by steemit
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@cryptohead ·
So I guess this is the end of BTCD  ?
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@jl777 ·
think of komodo as BTCD 2.0, rebranded
technically there will be 2 networks the 1.0 and 2.0, both coexisting
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@cryptohead ·
I found this very good read about Komodo
http://coremedia.info/index.php/blockchain-news/item/303-komodo-zero-knowledge-privacy-secured-by-bitcoin
It's almost like a  "white paper" about it. It answered  lots of my questions.
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@bravenewcoin ·
I was just reading this a few minutes ago! @kanoptx gave me the bitcointalk link. Looks interesting, hope it goes to the moon! Thanks for supporting the @bravenewcoin blog by the way. 

-RIcardo Goncalves
BNC Steemit Community Manager
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@applecrisp · (edited)
$0.02
(I'll be re-editing this comment as new details come out)

Thanks JL777, looks promising!  Thank you for giving more details about the ICO over at the Komodo Bitcointalk thread (https://bitcointalk.org/index.php?topic=1605144), about Komodo being <b>BitcoinDark (BTCD) 2.0</b>  :)
____
[Update] Link to more detailed information about the uniquiness of the project and how it fits into the Zcash / Bitcoin ecosystem: https://steemit.com/bitcoin/@komodoplatform/komodo-has-been-born
___
[Update]
On this BTT post https://bitcointalk.org/index.php?topic=1605144.msg16116386#msg16116386 , the Komodo's official account also stated that holders of BTCD will get the conversion to KMD at the stated rate  of 1 BTCD for 0.00532074 plus a seperate revenue share asset .
<h3>There are two ways to participate in this ICO.
1) Wait till Oct. 15, 2016 and purchase Komodo ICO shares using bitoins.
2) Purchase shares of BTCD now which are currently traded on major exchanges like Poloniex and Bittrex.   Holder's of BTCD will be able to exchange their shares for Komodo (KMD) and an asset which contains RevenueDividends from the 5% profits of InstantDEX, SuperNET and possibly crypto777.

<h4>Valuation discussion of BTCD</h4>Holder's of BTCD will receive two assets, 1) Komodo Shares and 2) Revenue Dividend Shares.  There is a stated conversion rate of  1 BTCD for .00532074 BTC on Nov. 20th. Until Oct. 15th this effectively puts in a soft cap / floor on the price of BTCD of 425659 sats (0.00425659 BTC) [ .00425659 BTC * 25% the stated 1st day bonus = .00532074 BTC]  if no value is given for the RevShare asset.</h3>

<h4>Links to the Komodo project:</h4>Homepage: https://komodoplatform.com/
Steemit Account: https://steemit.com/@komodoplatform
Twitter: https://twitter.com/KomodoPlatform
Slack: http://slackinvite.supernet.org/
Newsletter Signup: https://komodoplatform.com/#top


"<b>BTCD Valuation for the swap</b>

In order to simplify the BTCD to KMD swap, a fixed exchange rate of 1.0 BTCD to 0.00532074 BTC was established, meaning that if you send one BTCD you will receive 0.00532074 BTC worth of Komodo. This exchange rate was determined by adding a 50% bonus to the daily closing price average of August.  The  swapping process will take place after the ICO and detailed information will be posted soon.

If you are a BTCD holder, keep an eye on the BTCD thread (https://bitcointalk.org/index.php?topic=684090.10360). Tomorrow we will post more information there, such as what does this mean for BTCD."
👍  , ,
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vote details (3)
@applecrisp · (edited)
A handy chart was passed along to me.

It lists the theoretical price of what BTCD should be valued at given that you'll be able to convert it over to Komodo, holders of BTCD will also get that Revenue Dividend Asset. As of Sept. 2, 2016, 10:45pm Eastern, the price for BTCD at 383,939 sats, is currently trading at a discount to the value that it will be worth on Oct. 15.  As we get closer to the time of the Komodo ICO, BTCD could trade a bit closer and maybe even above the theoretical  value because of the inclusion of the Revenue Dividend Asset. It's my understanding that those assets are currently not paying out dividends, but it is a play on the future development of those assets.

Oct. 15 -           25% bonus  = 0.00425 BTC/BTCD
Oct. 16-22 -      20% bonus  = 0.00443 BTC/BTCD
Oct. 23-29 -      15% bonus  = 0.00462 BTC/BTCD
Oct. 30-Nov 5 - 10% bonus = 0.00483 BTC/BTCD
Nov 6-12 -         5% bonus   = 0.00506 BTC/BTCD
Nov 13-20 -       0% bonus   = 0.00532 BTC/BTCD
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@applecrisp ·
The official Komodo account on Steemit recently posted further details of the BTCD / Komodo (KMD) swap: https://steemit.com/komodo/@komodoplatform/komodo-ico-questions-and-answers -- Please read - it goes into similar analysis along with explaining much more!
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@btcbtcbtc20155 ·
Are you going to stop the development on BTCD? Is BTCD going delist on all exchanges?
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@jl777 ·
komodo is btcd 2.0
but the 1.0 chain will live on
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@btcbtcbtc20155 ·
Thanks quick reply. My next question is BTCD continue with any of future development or all resources will switch over to the btcd 2.0 (komodo)?
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@smailer ·
Thank you, I find this interesting. and add to bookmarks
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@silverfern ·
Great next move. BTCD needed this as it was hamstrung.
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@jl777 ·
exactly. never enough liquidity. 0.01% of BTCD decided to sell after komodo announcement. That is 99.99% NOT selling, yet that small amount of sell pressure move the price down 10%. this is  not good for any crypto and komodo will change this so BTCD liquidity is much stronger.

In any case dPoW will not be free to implement, we will do our best to be frugal, but it does require BTC and server costs to be funded and the resulting dPoW system can be utilized by all other crypto projects.
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@gekko ·
interesting @jl777 i'll take a look 8]
👍  
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vote details (1)
@cryptosi ·
Will this have the 2 minute spend transaction, no multisig and hardware restrictions that Zcash will also suffer from?
👍  
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vote details (1)
@jl777 ·
it builds on a zcash fork, adds dPoW and iguana, so it will inherit all the non-mining aspects of zcash. I am pretty sure the zkp creation times will be optimized. Also doing a private multisig is close to an oxymoron, cant really be very private with multiple signers. That being said the normal format multisig is possible with both zcash and komodo.

not sure what hardware restrictions you talk about, the latest I saw was that zcash can run on a system with 4GB of RAM, which is pretty standard for all but smartphones. Even my many year old laptop has 4GB
👍  
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vote details (1)
@cryptosi ·
Sounds good, I watched a podcast where Zooko kinda talked Zcash down, he was honest in fact. Yeah I meant mobile restrictions. So you really think Komodo could be a rival to Dash/Monero for privacy? I wanted to get into BTCD so this is the logical step.

Private multisig would be nice, people do share secrets, if it's in their best interests to do so.
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@steemitboard ·
Congratulations @jl777! You have received a personal award!

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@logic ·
I have just dug out my old BTCD wallet. Found some few old BTCD there :D
Gonna convert to Komodo :-)
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@jyoti-thelight ·
Sounds good , is there exchange between steem or SBD?
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@steemitboard ·
Congratulations @jl777! You received a personal award!

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