Reminder Komodo has an AMA with JL777 today talking about our new crypto-conditions smart contracts and the one million block update.
When? Now is a good time to get your questions in for us to answer at 6pm UTC. Add this AMA to your calendar https://evt.mx/9qnQeMZe .
Overview At block height 1 Million, updates will be activated to the Komodo code base. Block 1 Million will be mined in approximately two weeks. The updates to the Komodo code base include three major changes. -
First, we're excited to announce the implementation of four crypto-conditions smart contracts to Komodo Platform: Faucet, Dice, Rewards, and Token contracts. -
Second, we are eliminating the "Free For All" mining periods, which currently occur every 64 blocks and allow all miners (notary nodes and ordinary miners alike) to mine blocks at the same level of difficulty. Instead, we are adjusting the code to recalibrate the non-notary mining share to roughly 25% of all blocks. Mining rewards will remain relatively constant at all times. -
Third, we are adjusting KMD rewards to benefit active wallets. To receive the full amount of 5% rewards, users must move their KMD at least once per month (rather than once per year, as is currently the case). Note: These updates are hard-forking changes. Anyone running the Komodo daemon who does not make the update before block 1 Million risks running on a fork. Therefore, the update is mandatory and should be carried out as soon as possible.
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