How we‘re using Komodos technology to create our Asset Chain.

Ø Crypto Union
Jan 19, 2019 · 3 min read
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“If you want to build a decentralized Uber and Lyft on top of an unscalable Ethereum, you are screwed. Full stop.” Vitalik Buterin

Why Komodo? How we get there?

Not too long later, during the summer 2018, @ludom from Indénodes, investor and board member of OCU took the time to sit down with us and initiate us to Komodo, its history, community and features.

Fall 2018, Adli, our partner and Chief Strategic officer, forecast that 2019 would be a year of painful 51% network attack.

This is when we decided to make the change to Komodo Platform.

What is OUR?

Asset Chain configuration

We will use it partially in Proof-of-Stake to reward loyal shareholders. (ideally 92.3% POS and 7.77% POW thanks to the AC_STAKED function). The rewards will be 14.78310502 OUR per block, which corresponds for the first year to 7.77% interest.

We will also reserve part of the money creation (0.077% via AC_PERC) for our development fund, which may eventually become a community fund in the future.

Crypto-Conditions

CC-TOKENS: “It enables core-asset support for the on-chain creation of colored coins, also called tokens. The functionality is facilitated by utxo technology. Tokens can be generated on any chain where the ac_cc is enabled.” It will potentially be used to create other assets on top of OUR.

The CC-ORACLES is useful for making off-chain data available on-chain. So it could be used to make conditional transactions for example.

Problems encountered and resolution

We’ve noticed several things. Initially, we wanted to make a constant increase of 7.77% per year, but we didn’t find the possibility to do halving that increase rewards. We noticed this with a client error.

Recently we’ve also noticed a bug that doesn’t allow us to use AC_PERC, because AC_PERC is linked to AC_PUBKEY, and this argument was buggy. (Alrighttt is fixing this.)

The overall experience was quite good and we encourage project that aims to find a secured, scalable and open source project to build their projects on to seriously consider Komodo Platform and share our very pleasant journey and experience, we are very proud to call ØCU Home.

Thank you JL.

About Ø Crypto Union:

Additional Links

Twitter

ØCU on KOMODO Discord

ØCU Discord

BitcoinTalk

Reddit

Telegram Announcements

#KMD #Blockchain #dPoW #Fintech

Ø Crypto Union

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