Komodo Coin News

komodo coin news

This week in Komodo coin news, we shall be looking at some of the developments made by the coin which has had a reputation of commitment to innovation as the network strives to become one to be reckoned with in the coin market.

The Komodo team recently announced that there will be an upgrade of the Komodo code base on December 15, 2018 at 1:00 UTC. Some of the features that will be activated by the upgrade include Sapling Upgrade, 10 new asset chain parameters, and an increase in block size for all updated chains, from 2 MB to 4 MB.

A blog post from the official site of the network stated that the December 15 update is a mandatory hard fork that will give the network leverage to accomplish more and give greater benefits to users. The post read,

“Please note that this update is a hard fork and is therefore a mandatory wallet update which should be completed before 01:00 UTC December 15, 2018.”

It noted that a number of exchanges have already disabled their KMD deposit and withdrawals pending the fork after which these services will be reactivated.

Komodo Coin news

The details said that the update may well be the most massive one for the Komodo network adding that more than 500 source files are involved in the upgrade. The developers said that all necessary precautions will be taken to ensure a seamless transition by collaborating with all exchanges with KMD support to safely have all wallets updated.

The post added,

“Also, being such a major update means there are always unforseen communication challenges to tackle and understand this may cause inconveniences for some.  We are committed to working with exchanges and all parties to continually improve lead times and timelines.”

The announcement said that many of the features were inherited from the coin ecosystem and are aimed to enhance user experience. It mentioned that the Sapling upgrade was first developed by the Zcash team.

The Verus Connection

Zcash is one of the best privacy coins. Some features are courtesy of Verus coin recognized as a friendly fork of Komodo. This upgrade is already functional in Verus and will be applied in Komodo by December 15.

The Komodo Sapling project was led by Mike Toutonghi who was a lead developer with Verus before being announced as the Komodo Strategic Advisor.

The Komodo Sapling has been packaged to include additional parameters in boasting the traditional open source. In the blog post, the team wrote,

“In addition to this upstream, which includes 6 new assetchain parameters, Komodo is adding 4 additional new parameters for assetchains, making this a massive technology boost for the entire ecosystem.”

More Features in Komodo Upgrade

Information reaching Cryptoinfowatch Komodo Coin News shows that other features of the hard fork that will be implemented on Komodo include

  • The VerusHash algorithm, bringing near-equality between CPUs and GPUs with the fastest CPU mining algorithm in the world
  • The VerusPoS algorithm, allowing for a 50/50 hybrid blockchain, which can be combined with either 50% VerusHash or 50% Equihash for the proof of work component.
  • Time Locking, which allows mined rewards to be timelocked for random release, within a set of parameters.
  • The “Eras” parameter (ac_eras), allowing 3 eras of different coin emission schedules to be defined which alter emission, including slow start options, and linear exponential decay at specific, predetermined block height schedules

The team is excited to host implementation of the new code upgrade and that Verus chose to build upon the Komodo platform.

The excitement is that as a truly open source platform, Komodo is poised to boast features that will attract greater partnerships and collaborations with other networks.

Platform For DApp Testing

It will be recalled that the Komodo Custom Consensus was built to enable dApp creators test their applications of the Komodo platform. The Komodo notary node scripts were specifically developed for this and has proven a success after initial tests.

It enables third party users to test decentralized applications using a team of experienced dedicated testers as well create more awareness among the community of such dApps and its functionality
The essence is to test for fungibility between staked chains for week to week testing.

 

 

 

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Author: Jofor Humani

Peddling words has been a passion beneath the surface. I speak less than I write...naturally. Aside speaking and writing, I walk too...good for your heart they say. I sometimes do not feel like writing. Then I enjoy quiet times which I use to think and stay with family.

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