The 2018 Election for Notary Nodes on the Komodo Platform is here and contesting are the Komodo Pioneers. The Komodo pioneers are not in to just win and run notary nodes. They want to put Komodo firmly on the map. They have rightly concluded that growing the ecosystem is the way to achieve this. To be visible on a map as huge and populated as CryptoLand, Komodo would have to occupy more space. Hosting Meetups, organizing events and creating a podcast are the means through which Komodo Pioneers plan to grow the Komodo Ecosystem.
Anyone who has ever hosted a meetup, or event, or consistently runs a podcast would know that these things require a great sacrifice of time and energy. The Komodo Pioneers are volunteering to make these sacrifices should they win and become notary nodes. This is the extra work they plan to do for the community, in addition to the already arduous task of keeping the network secure by effectively running notary nodes.
The Komodo Pioneers Team
The Komodo Pioneers Team comprises of @LUBO, @AUDO, and @DIESMASTER who have all been involved with Komodo for years. @CRYPTOGUNNY, @MYLO, and @BARV are not veteran members, but possess expertise that would be very useful in the effective running of notary nodes.
If you have been into Komodo for some time, then you are likely to be familiar with some of the Komodo Pioneers team members and can vouch for their dedication and competence. These are two necessary characteristics for anyone planning to run a notary node should have.
The dedication and competence are required because running and maintaining notary nodes are not menial tasks. More importantly, Notary nodes are crucial to Komodo’s delayed Proof of Work consensus mechanism (dPOW) and security at large.
What the Task Entails
Notary nodes perform three main tasks. They collect Komodo network data and write it into a special block. This special block is then backed-up into another blockchain. At the moment, that other blockchain is the Bitcoin blockchain since it is the most secure. This could, however, change in future should another blockchain be considered more secure. Finally, the notary nodes also re-notarize the back-up from the secondary blockchain into the Komodo blockchain. In return, the notary nodes are rewarded with easy mining of a Komodo block and the corresponding block reward.
Giving Back Half The Rewards To The Community
If you are new to Komodo, then this generous offer to give back half of their rewards to help grow the community should be of interest to you. Komodo pioneers have issued a document to give details of this offer and have further promised more transparency on the matter.
Organizing events does not only require time and energy of the hosts but money. This money would be coming from the rewards the Komodo Pioneers would gain for their services as notary nodes on the Komodo Platform. 50% of their revenue has been promised to be set aside for activities that would foster the growth of the Komodo ecosystem. The only catch is that this would only be possible if the price of Komodo stays above $4. This makes sense because funds would be needed to keep the nodes running. To be able to sustain effective running of the notary nodes and still reinvest in the growth of the ecosystem, the price of KMD would have to be $4 or more. This seems reasonable if you ask me.
To end this on a lighter note, if you are somehow still not convinced by the details of the Komodo Pioneers’ offer, I would leave you with this tweet from their official Twitter account. They are also offering free advertisement for Komodo.
“Team member of Pioneers
@crypto6unny has promised to design and produce a baseball cap with Komodo logo on it and wearing it outdoors all the time for a year if @KomodoPioneers get elected for EU & SH!!”