To thank the community for their support, we have teamed up with Binance and have together committed $2500 in KMD as prizes to give away to our communities.
- Rank in the Top 3 by KMD Trading Volume to Win Up to $1000 in KMD. All users, registering during 2020/06/15 - 2020/07/09, will be ranked in terms of the total KMD trading volume ( the trading volume should be $300 in KMD or more) traded on their Binance account (including both buys and sells) across all KMD trading pairs during the competition.
-Trade KMD to Share a Prize Pool of $1500 in KMD! All users with a total trading volume (including both buys and sells) of $300 in KMD or more will equally share a prize pool of $1500 in KMD. Users that win rewards for ranking in the top 3 in KMD trading volume will not be eligible to receive rewards from the bonus activity.
The reward structure is as follows:
1st place: 500 USD in KMD
2nd place: 300 USD in KMD
3rd place: 200 USD in KMD
Terms & Conditions:
All users need to fill in the form to submit their Binance user ID.
Trading volume counts both buys and sells, excluding any wash trades.
Binance reserves the right to disqualify trades that are deemed to be wash trades or illegally bulk registered accounts, self-dealing or display attributes of market manipulation.
Rewards will be distributed within 2 weeks after the competition ends. You will be able to log in and see your rewards via the Distribution History page in the Account Center.
Binance reserves the right to cancel or amend any Activity or Activity Rules at our sole discretion.
Another week has passed and we have summarized for you the most important events of the week.
Prof. Dr. B. Gültekin Çetiner, the founder ofMarmaraChain (a Komodo Smart Chain project) was live on TV on Kanal34 that was sponsored by Komodo. The TV show was in Turkish, but the MarmaraChain team will work on a translation and will upload it on Youtube.
Komodo CTO Kadan Stadelmann spoke with Benjamin Pirus from Cointelegraph about the risks of trading on a mobile DEX.
"I don’t think that the risk to a mobile DEX is necessarily higher than that of a DEX accessed through another medium. The risk would vary depending on the user’s device, OS [operating system], version, etc.," says Kadan.
Komodo Business Developer Charles ‘PTYX’ Gonzalez sat down for an excellent interview with Trading Plex. Charles describes Komodo's technology, explains the main purposes of Antara Framework and Delayed PoW (dPoW), and how AtomicDEX and its technology is changing the rules of the game.
The komodo development team is working hard to implement the features requested by the community. Stay tuned!
COMMUNITY & ECOSYSTEM UPDATE
It gives us great pleasure to see that students from the University of Texas at Arlington (UTA) are developing projects for a university course with Komodo.
In 2018, Komodo established an educational relationship with the University of Texas at Arlington. In 2019 Komodo sponsored an educational hackathon in cooperation with HackUTA. The course, taught by Dr. Sajib Datta, a Senior Lecturer in the Department of Computer Science and Engineering and Strategic Advisor for Komodo Platform, attracted 34 students over two semesters.
The HUSH team changed some of its Wallet encryption to Blake3. This change allows nearly 15x faster sending, startup encryption, and close encryption. Furthermore, HUSH Chat development is ongoing and the HUSH team has added some goodies like emoji’s to the HushChat.
BLOCKCHAIN FUNDAMENTALS
Komodo continued with its Blockchain Fundamentals content series this week with one new interconnected article.
The article is about the Scrypt Mining Algorithm. In this article, we explore why Scrypt was invented and how the algorithm has been used by prominent blockchain projects. We will then assess its current effectiveness compared to other Proof of Work consensus algorithms.
Once again, we come to the end of the week and have a chance to take a look at Komodo's current events. This week’s update includes the following topics: the results of the AtomicDEX survey, Komodo’s sponsorship of a Turkish TV show, and a few new Komodo Project Spotlights.
Komodo Network Update
Komodo successfully upgraded the network to daemon version 0.6.0, dubbed Draconic Serpent! The Komodo team would like to extend a warm welcome to all new Notary Node Operators!
One major improvement that came with the Draconic Serpent upgrade is the optimized syncing of the Komodo blockchain, especially for the initial syncing process. The process is now faster and more reliable with recent optimizations and refactoring.
Another improvement with Komodo v0.6.0 and the new dPoW season is that the Dev Team has audited and updated the Delayed Proof of Work (dPoW) client and Komodo core dependencies. This improves the general dPoW mechanism itself, as the threading system has undergone a code review to ensure the code is free of critical bugs.
We would like to thank everyone who took part in the survey. We have evaluated and visualized the results.
We now prioritize the proposed features and clarify the feasibility with the development team.
Media
Komodo will be on Turkish television! Starting from the 25th June 2020, Komodo will sponsor the Turkish TV show 'New World Economy' on Kanal34. Prof. Dr. B. Gültekin Çetiner, the founder ofMarmaraChain (a Komodo Smart Chain project) will talk and showcase Komodo's technology live on TV for the masses!
HUSH released a new mainnet update on Github. The v.3.4.0 includes among others the Komodo notary node updates, sprout code deletion, subatomic swap capabilities, and many other updates!
VerusCoin
Verus recently upgraded their mainnet protocol to enable Komodo Notary Node season four and to update their staking and mining consensus. This update was mandatory for all miners, exchanges, wallet providers, and other individuals running a full node. Please make sure to update!
Furthermore, VerusCoin is now listed on CoinmarketCap! If CoinmarketCap is your go-to platform to search for coins then you can also find Verus there from now on!
PirateChain
Komodo Ecosystem enthusiast CryptoRich published a new video on Bittube where he covers all the events that happened at PirateChain in May 2020.
Komodo continued with its Blockchain Fundamentals content series this week with one new interconnected article.
The article is about Blockchain Programming Languages. We cover the most in-demand blockchain programming languages and discuss how each language is used in the context of blockchain programming. The discussion includes examples from major projects in the blockchain space. The three categories featured are protocol-level development, smart contract development, and software development kits (SDKs).
It's Friday again, which means it's time for another weekly wrap-up. Let's take a look back at what happened over the last seven days.
AtomicDEX Community Feedback
As AtomicDEX is inching towards a 1.0 release we are shifting our focus to the long term product vision beyond primary wallet and DEX functionality. To collect as much feedback as possible we asked our community for their help! We already collected more than 200 inputs. We would like to thank our community at this point, with your help we will build the world’s best DEX!
If you haven't completed the survey yet, you can do it here.
Media
Komodo CTO Kadan ‘ca333’ Stadelmann sat down for an excellent interview with the team of Layer1pod. He describes Komodo's technology, talks about his background, explains the differences between ETH & KMD, and how AtomicDEX is changing the rules of the game.
Komodo was mentioned by Huobi as a coin to keep an eye on.
‘This multi-chain design is what makes Komodo unique among blockchain platforms. Each project is given the opportunity to create its own blockchain ecosystem via Komodo’s infinitely scalable infrastructure.’
BIP-143 Vulnerability for Ledger and Tezos hardware wallets
Security researcher Saleem Rashid discovered the vulnerability that allowed an attacker to have compromised the client software of a user to increase transaction fees without confirmation on the device. The user should be tricked into signing a transaction at least twice, which isn’t an unrealistic scenario because the first transaction can be aborted pretending there was an error. A successful exploitation results in the loss of funds for the user. The attacker can also collude with a miner to profit from the transaction fees.
We thank Komodo developer pbca26 who already patched the KMD claiming tool so that users can continue to claim their rewards securely.
The MarmaraChain team announced its second Hardfork. The Hardfork to version v.1.0.2will take place on at 06/24/2020 2:00 pm (UTC). The upgrade is mandatory for all miners, exchanges, wallet providers, and other individuals running a full node. Please be sure to update prior to June 24.
HUSH launched the public beta release of HushChat on Windows, Mac, and Linux. HushChat is Signal on the blockchain, except with no phone numbers, no closed source code, and is decentralized. Each message sent over HushChat costs only 0.0001 Hush.
If you are interested in becoming a beta tester join them on Discord.
BLOCKCHAIN FUNDAMENTALS
Komodo continued with its Blockchain Fundamentals content series this week with one new interconnected article.
The article is about Digital Signatures. we’ll look at why digital signatures are important and how they’re used in various technologies, including blockchain networks. We’ll then outline the major milestones of digital signature algorithms over the years. Finally, we’ll assess the advantages and disadvantages of using digital signatures.
It's the first Friday of June, which means it's time for Komodo's May Monthly Report. A lot has happened over the last 30 days, so let's take a look at all of May’s developments!
Global Market Sentiment
As mentioned in last month's report, global markets are still recovering rapidly. However, this raises questions for many. Despite rising unemployment figures, the ongoing COVID-19 restrictions, and protests worldwide, both stock and cryptocurrency prices continue to rise.
The Dow Jones Index, for example, has rallied 45% in less than 3 months, something that has not been seen since the very beginning of Dow Jones trading. Many analysts compare the current market conditions with the fall in the Dow Jones in 1987 and believe that this was a unique opportunity to enter the stock market. Whether they are right or not, time will tell.
Bitcoin hits $10,000
Bitcoin broke the $10,000 mark for the first time in 98 days. Unfortunately, it did not manage to keep the price above $10,000 and soon after fell below this magical psychological level again.
But one thing gives the Crypto Community hope: the Bitcoin stock-to-flow model. 100trillionUSD, a content creator has posted a chart on Twitter that shows a red dot that has sent Bitcoin believers into euphoria.
But what do these colored dots actually mean?
There is a simple logic behind it. The Bitcoin price is displayed logarithmically. A logarithmic scale (or log scale) is a way of displaying numerical data over a very wide range of values in a compact way—typically the largest numbers in the data are hundreds or even thousands of times larger than the smallest numbers.
The points are added to the Bitcoin price and show in different colors how many months there are left until the original Bitcoin halving.
In the past, this has led to a situation where a red dot indicates that Bitcoin is entering a Bull Market.
Polkadot Network Goes Live
Co-founded in 2017 by Gavin Wood, a co-founder of Ethereum and one of the authors of the Solidity smart contract programming language, the Polkadot Network has been in development for several years.
Now, as of May 27, 2020, the Polkadot mainnet is live. This marks the first of several steps towards the full launch of the public blockchain network. However, DOT coins, the currency of the Polkadot blockchain, are not yet available to those who invested in the ICO back in Oct 2017. The coins will be released to those who invested in a future phase of the full launch.
The Polkadot Network, according to its website, is a “sharded protocol that enables blockchain networks to operate together seamlessly.” That has led many to refer to Polkadot as an interoperability project, as their stated purpose is to build bridges between heterogeneous blockchains. At the same time, Polkadot can be considered a multi-chain platform, as they also intend to offer sovereign, application-specific blockchains to third-party projects that wish to build a smart contract or decentralized application (DApp). This is made possible with the Substrate framework, which is comparable to Komodo’s Antara Framework.
The Komodo team would like to say congratulations to the Polkadot team for reaching this important milestone. Like Polkadot, the Komodo team believes that a multi-chain platform architecture is the most viable design for the growth and adoption of blockchain technology. The Komodo team is also very pleased to see such a prominent project following down the multi-chain path that Komodo pioneered when the Komodo mainnet went live in January 2017.
DeFi
The acronym DeFi - Decentralized Finance - refers to a specific ecosystem in the blockchain space that enables digital (and theoretically trustless) financial services. Usually based on the Ethereum blockchain, decentralized applications (DApps) can be created, which are specifically designed for the financial sector.
A key characteristic of these DApps is that they can be programmed as needed. Different modules can be put together, like a LEGO kit. As soon as the DApp is implemented on the blockchain, it runs independently and in a decentralized way, depending on its design.
As beautiful and exciting as that sounds, DeFi is still in its infancy. Besides the known technological problems DeFi is confronted with, there are still many issues that make adoption difficult.
An article titled, “Key DeFi Ecosystem Problems, Explained,” published in Cointelegraph, describes a number of the issues that DeFi faces.
“Even beyond the risks involved, certain issues persist that often affect the user experience of these platforms. These include over-collateralization, centralization, low liquidity, and very little interoperability between blockchains. Another common issue with the DeFi industry is that sometimes “decentralized finance” isn’t as decentralized as it should be.”
DeFi Pulse also gives a great overview of the DeFi ecosystem. The website also offers a ranking, which ranks the DApps according to the amount of investment.
DEVELOPMENT UPDATE
Komodo v0.6.0 Is Coming Soon
Komodo’s fourth annual Notary Node Election came to an end on May 4, 2020, and the Komodo team would like to congratulate and welcome all of the operators who won a seat in the Notary Node network.
To officially bring these new Notary Node operators into the network, an upgrade to the Komodo daemon to version 0.6.0 will be activated on June 14, 2020, at block height 1,922,000. The upgrade is mandatory for all miners, exchanges, wallet providers, and other individuals running a full node. Please be sure to update prior to June 14.
AtomicDEX Developer Sergey Boyko completed a key contribution to the AtomicDEX API! Thanks to Sergey we now have a new essential data metrics collection feature with Prometheus integration! Combined with Grafana it enables beautiful and expressive visualizations of the data traffic.
The AtomicDEX Dev team released version 0.2.16 for AtomicDEX mobile. The new version contains, among other things, changes in the DEX core, information when starting the app, an MM2 validation, and the activation of new coins were improved. It also includes one of the most requested features for AtomicDEX: the Orderbooks.
You can now see the Orderbooks for the buyer and also for the seller side.
In addition to the AtomicDEX Mobile release, the Komodo developers have released AtomicDEX-PRO version 0.1.3. The new version contains a lot of features and fixes.
The Komodo team would like to call on our community to test the new version and give us feedback.
There are also many things that have happened in the Komodo community and the Komodo ecosystem. We have summarized all the important things for you to keep up to date.
An AtomicDEX Feature Request Survey
The Komodo team is focused on developing AtomicDEX, specifically the base wallet and DEX functionality. Currently, no firm decisions have been made with regard to future feature development.
The Komodo marketing team is scoping out possible features and studying the market needs at this time. We want to create the product that users want the most.
As such, we’d like to ask you to tell us what you value most in a cryptocurrency wallet product. This information will help us to prioritize the features with the greatest demand.
Komodo Marketing Manager Audo Kowitz had the pleasure of meeting John when he was visiting Tokyo in April. They decided to seize the opportunity and film a short interview.
In order to build a stronger AtomicDEX community, we created a new AtomicDEX Twitter account and we will tweet in the future more often about new version updates, project listings, and bug fixes. Make sure to follow the AtomicDEX Twitter account to stay up to date!
ChangeNOW AMA
The Komodo Team was invited to an AMA in the ChangeNOW Telegram group yesterday. If you were not able to attend, we have posted a summary of the AMA questions and answers for you here.
Shurli (Subatomic Swaps)
The Subatomic Go project had a name change. From now on, it will be called “Shurli.” Komodo developer Satinder Grewal has come a long way in the last month. You can now select a number of orders to show on the list query on the orderbook page. Furthermore, you are now able to sort the results on orderbook as per their expiry time and much more! Komodo Developer Satinder Grewal uploaded a video to showcase all the improvements.
Satinder posted a great development update about what happened in the last weeks.
CryptoRich interviewed Michael Toutonghi, Lead Dev at Verus Coin and they talked about how VRSC could be used for COVID-19 contact tracing in a way that protects privacy, as well as Verus Coin's testnet that allows you to create your own cryptocurrencies.
The PirateChain team began to work on I2P integration that will be available for the whole Komodo Ecosystem. A total of 0.25 BTC has been raised so far. This doesn’t cover the full costs of the development, so the PirateChain team is still looking for donations.
PirateChain Mobile Wallet
Skull Island
The PirateChain released the public beta of the world’s first Z to Z-only Mobile Wallet dubbed Skull Island. Sailor +DreamTim wrote about it on the community portal. Kaks published an explainer video on how to export your private keys on Ghostship OS.
HUSH's new HushChat entered the closed alpha testing. HushChat is an end-to-end encrypted z2z messenger platform on SilentDragon wallet. HUSH will soon release it for the public.
Sneak Peak of the z2z messenger:
MEDIA MENTIONS
Komodo CTO Kadan Stadelmann sat down for a superb interview with Charlie Shrem from Untold Stories. They discuss the threats to those core beliefs coming from government and other sources. Furthermore, Kadan talks about his past and his background and how it was growing up in cyberspace, and describes Komodo's vision while explaining the differences between Smart Chains, Multi-Chains, and Single Chains.
Komodo CTO Kadan ‘ca333’ Stadelmann sat down for a superb interview with Nick Saponaro, the CIO of DIVI. They discuss Komodo's technology with respect to DEX technologies and atomic swaps, the history of Komodo's development, and the future of the Blockchain market.
One of Turkey's largest coin news websites published an article about Komodo with the headline 'Why Komodo?'. We would like to thank Prof. Dr. B. Gültekin Çetiner ofMarmaraChain for giving the interview!
The article is in Turkish but Google Translate will do its work!
At the moment, it’s still very early stages, but trying the so far developed application will help getting some feedback from the users which will help shape the next UI/UX iterations.
It's Friday again, which means it's time for another weekly wrap-up. Let's take a look back at what happened over the last seven days.
Komodo x DIVI Crypto Podcast
Komodo CTO Kadan ‘ca333’ Stadelmann sat down for a superb interview with Nick Saponaro, the CIO of DIVI. They discuss Komodo's technology with respect to DEX technologies and atomic swaps, the history of Komodo's development, and the future of the Blockchain market.
One of Turkey's largest coin news websites published an article about Komodo with the headline 'Why Komodo?'. We would like to thank Prof. Dr. B. Gültekin Çetiner ofMarmaraChain for giving the interview!
The article is in Turkish but Google Translate will do its work!
We had some good pizza submissions for our Bitcoin Pizza Day tag campaign. We have collected and summarized all entries. You can see the winners here.
ChangeNOW AMA
The Komodo Team was invited to an AMA in the ChangeNOW Telegram group yesterday. If you were not able to attend, we have posted a summary of the AMA questions and answers for you here.
DEVELOPMENT UPDATE
AtomicDEX Developer Sergey Boyko completed a key contribution to AtomicDEX! Thanks to Sergey we now have a new essential data metrics collection feature with Prometheus integration!
The AtomicDEX Dev team released version 0.2.16 for AtomicDEX mobile. The new version contains among other things changes in the DEX core, information when starting the app, an MM2 validation, and the activation of new coins were improved.
The Development of Shurli is in full swing and Komodo developer Satinder Grewal posted a great development update about what happened in the last two weeks.
CryptoRich interviewed Michael Toutonghi, Lead Dev at Veruscoin and they talked about how VRSC could be used for COVID-19 contact tracing in a way that protects the privacy and Veruscoin's testnet that allows you to create your own cryptocurrencies.
The PirateChain released the public beta of the world’s first Z to Z-only Mobile Wallet dubbed Skull Island. Sailor +DreamTim wrote about it on the community portal.
Furthermore, Kaks published an explainer video on how to export your private keys on Ghostship OS.
HUSH's new HushChat entered the closed alpha testing. HushChat is an end-to-end encrypted z2z messenger platform on SilentDragon wallet. HUSH will soon release it for the public.
Sneak Peak:
BLOCKCHAIN FUNDAMENTALS
Komodo continued with its Blockchain Fundamentals content series this week with one new interconnected article.
The article is about Merkle Trees. If you’re involved in the world of blockchain, you may have come across the phrase "Merkle Tree" before. While Merkle trees are not a widely-understood concept, they’re also not terribly complicated. This post will explain Merkle trees in plain English and help you understand how they make blockchain technology possible.
We would like to thank everyone who participated in our Pizza Day campaign. Unfortunately there were many entries that only had a stock photo with the AtomicDex logo. These entries cannot be taken into consideration because the rules were not followed.
Here are the participants and winners of the Pizza Day campaign who sent in their own pizza with the AtomicDEX logo.
It's Friday again, which means it's time for another weekly wrap-up let’s take a look back at what happened over the last seven days.
Happy Bitcoin Pizza Day!
Today exactly 10 years ago Laszlo Hanyecz ordered two pizzas for 10,000 BTC. The value at that time was around 40 dollars. Today the coins would be worth 90 million dollars. So if he had kept the Bitcoin to this day, he would be $90 million richer.
To honor the 10th anniversary of the Bitcoin Pizza Day we are launching a micro bounty campaign.
All you need to do to win your 15 KMD is tweet out a pic of your pizza (a slice or a whole pie— both work!) with an AtomicDEX logo visible in the photo. It can be your phone with the AtomicDEX app open, a screen with the AtomicDEX homepage open, or anything else that clearly shows the AtomicDEX logo.
Get creative! The 3 coolest photos, as judged by the Komodo team, will get a small bonus in KMD.
Komodo’s fourth annual Notary Node Election came to an end on May 4, 2020, and the Komodo team would like to congratulate and welcome all of the operators who won a seat in the Notary Node network.
To officially bring these new Notary Node operators into the network, an upgrade to the Komodo daemon to version 0.6.0 will be activated on June 14, 2020 at block height 1,922,000. The upgrade is mandatory for all miners, exchanges, wallet providers, and other individuals running a full node. Please be sure to update prior to June 14.
Komodo continued with its Blockchain Fundamentals content series this week with one new interconnected article.
The article is about Cryptographic Hash Functions. While the term itself may seem intimidating, cryptographic hash functions are relatively easy to understand. In this article, you'll learn exactly how a cryptographic hash function works.
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