During the last two weeks, we have not seen much progress, but despite this fact, there is something interesting. First of all, the main point is the third annual Komodo’s Notary Node Elections — the opportunity to make a great contribution to the platform which continue until 14 May. There are 60 candidates in 4 regions. Secondly, Komodo’s innovative peer-to-peer orderbooks for the atomic swap network already allowed for coin markets to exist that were not based on BTC prices. Thirdly, Komodo recognized RedFOX Labs, a blockchain venture builder focused on galvanizing startups in Southeast Asia. The size of the community (Twitter, Reddit, Telegram) stable grows, also it still shows great activity on GitHub. Furthermore, there is rumor information about willing to make more attractive stats about the ecosystem and its coins.
Development
Synthetic Positions & Prices For Blockchain Based Financial Instruments
Komodo’s innovative peer-to-peer orderbooks for the atomic swap network already allowed for coin markets to exist were not based on BTC prices. For example, KMD/ZEC could be listed and these can be traded directly. (It is only one week into the development cycle. More news are coming soon).
What synthetic positions & prices gives the Komodo ecosystem is the ability to create new financial services with blockchain enforcement. Using the gateways consensus module, these services enable cross-protocol/cross-chain/cross-currency integration.
Decentralized Market Price Feeds Graphed (Crypto/Fiat/Forex/Etc.)
Komodo dApp tester TonyL created quick real-time graphs for visualizing the price changes.
Documentation Update
The developer docs get a refresh which is part of the rebrand strategy — to make Komodo more attractive to developers.
Desktop and Mobile voting instructions has been created.
- Native Notifications for the Agama Desktop wallet are available.
PHP Library Initial Release
Webworker01 created a PHP library for manipulating Komodo addresses and keys. He used the nodejs implementation by pbca26 as a reference. A tool like this is intended to be an integration point into PHP web applications.
Hush 3 Now Komodo Code
The v3 of Hush blockchain project has been moved to Komodo and is being notarized in the blockchain security service by the dPoW process. Small blockchain size of < 100MB and a hashrate already at 3MH. Rolling with the punches of the shout outs to Notary Node Operators, Hush lead developer Duke Leto recently linked us a tool to convert from ZEC addresses to KMD addresses is here.
Hush is a token, secure messaging platform, which was based on ZCash. As its own unique blockchain network, HUSH acts as not only a store of value but a medium of exchange for using the secure messaging platform. This “messaging” function is also the mechanism for sending and receiving transactions.
Fast Decentralized Trustless Oracles (DTO)
Zack from Amoveo was kind enough to offer commentary on fast oracles. It is a response to jl777’s blog posts about a (DTO) decentralized trustless oracle solution by Komodo. It spells out some important considerations that are linked within the article.
Sources: Tech Tuesday Development Update — 2019 Week 16 (10.04–16.04), Tech Tuesday Development Update — 2019 Week 17 (17.04–23.04)
New tutorials:
Komodo Platform’s Notary Node Elections of 2019 are Live.
- Every year, the Komodo community holds an election to choose who will operate notary nodes.
- The 28 best-performing notary node operators are automatically re-elected.
- Performance is measured according to the number of completed notarizations
- The top 7 nodes from each of the four regions are re-elected
- The other 32 positions are opened up and the community elects new operators.
- Anyone can run in the election. You don’t need to own any KMD or be on the team.
- VOTE tokens are airdropped to KMD holders at a 1:1 ratio.
- Community members simply send VOTE tokens to their preferred candidate(s).
- At the end of the voting period, the top 8 addresses with most VOTE tokens within each four regions win. Thus, in total, 32 new operators are elected.
Social encounters
Cryptofriday — Art, Video games & Blockchain
Bart van Maarseveen (Komodo Pioneers) — How blockchain helps revolutionize games. No video.
Limitations Of Smart Contract Platforms & How Komodo Is A Superior Solution
Komodo published the article about limitations of smart contract platforms, a dive deep into the technical limitations of first generation smart contract platforms and why Komodo’s multi-chain architecture offers a superior way to adopt blockchain.
The main point is the fact that the primary difference between Komodo and ordinary smart contract platforms is the number of blockchains in the ecosystem. While smart contract platforms are a single blockchain with the ability to host third-party projects via smart contracts, Komodo is a multi-chain platform with the ability to give each project its own blockchain that can independently support smart contracts.
The Promise Of Smart Contracts And The Oracle Problem
This article, published last week, provided us through Oracle Problem, which can be explained as a simple example like an oracle finding the current $BTC/USD price. The traditional solution of taking a set of data points, removing the outliers and using the median only works until it is attacked. If there is only a nominal cost to submitting a data point, an attacker can simply flood the chain and move the average or median in any direction. An oracle using this simple aggregation model can, if attacked, report that 1 Bitcoin is worth $10, and smart contracts will consider this as the correct price.
Because of this problem, Komodo is creating the Komodo Trustless Oracle, the right answer to the oracle problem because it asks the right question: how can we make data part of the consensus itself? Instead of spending time and effort on things which cannot be reliably solved, like how to make sure the data is not compromised in transit, we focus on securing the chain itself.
However, the CC-Oracles (custom consensus) module is under development, but it already works as a proof of concept (see the documentation here, and a simple dashboard reporting 55 different prices here). It can be used by itself or as the basis of sophisticated blockchain applications, like the CC-Pegs custom consensus module which lets developers create algorithmic stablecoins and other blockchain-based financial instruments on demand.
Upcoming events:
No updates.
Roadmap
They do have an internal roadmap, but they have yet to make that information public. Part of the reason why they do this is that if the landscape changes, we desire to be flexible in adapting as necessary.
1H 2019
- Alpha release and testing of version 2.0 of our open atomic swap protocol — done — done
- Komodo’s innovative peer to peer orderbooks for the atomic swap network already allowed for coin markets to exist that were not based on BTC prices.
- Release of version 1.0 of Komodo’s Custom Blockchain Generator on AWS marketplace
- “Evolution” Campaign to launch new roadmap, whitepaper, and messaging
- Komodo 2.0 Technology and Rebrand Launch — done
- Annual Notary Node Elections — has begun
- Continued development of Custom Consensus Framework
- Launch of KMDCC interlinked chain to support zero-knowledge privacy, new Crypto-Conditions smart modules, and other test features and solutions.
2H 2019
- Release of Komodo’s Developer Portal to support increased participation and involvement of Komodo community
- Increased usage of AWS Marketplace to support Komodo products and services, including independent blockchains and custom consensus modules
- Release of GUI for a fully mobile-ready wallet/DEX hybrid
Partnerships and team members
-Blockchain-based gaming
Educational apps
Insurance and FInance Aggregator
Ecosystem
Last week, Komodo team systematized and published all projects built on Komodo in one Google Spreadsheet. Furthermore, there is rumor that jl777, lead developer, thinks that it would be great idea to make centralized explorer of all coins created on Komodo Platform.
Groestlcoin $GRS is now supported on Agama wallet, a multi-asset encrypted wallet made by KomodoPlatform. Groestlcoin is the decentralized open-source cryptocurrency whose main goal is to make crypto more popular — Twitter.
Rumors
Reviews and news of Komodo Platform:
There is the new video description of Komodo Platform and its solution made — YouTube
Review of Komodo Platform made by Kaiserex, cryptocurrency exchange service.
News about Komodo Notary Node Elections are posted on Crypto Economy.
Social media metrics
Because of the fact that this is the first biweekly overview, there are only two periods.
- JL777, Komodo’s Platform Core developer and founder, has started his own blog on Medium. This is aimed for developers who want to learn more about blockchain.
The graph above shows the dynamics of changes in the number of Komodo Reddit subscribers, Twitter followers and Facebook likes. The information is taken from Coingecko.com.
