Notary Node elections 2019
It’s time again! The Komodo Notary Node elections are approaching and will take place on Sunday, April 14, 2019. The election period ends on 14 May.
If we look at the candidates, the election will be very difficult for many of us. Each of the participants deserves a Notary Node, but there are only 64 places, 28 + 4 of which are already taken.
The 28 notary nodes with the highest rank will be rewarded with the automatic renewal of their position. KMD Devs will be awarded 4 additional places. Pirate is putting two members up for election. FishyGuts e MrLynch will start with their servers in Europe and North America.
For detailed information please visit our website, which has been specially designed for the NN Elections:
The NN are responsible for the security, interoperability and decentralisation of the Komodo ecosystem. Anyone holding KMD can vote. Soon everyone holding KMD will receive coins on a special VOTE2019 chain.
We recommend the official website here. Here you can get more information and details about the elections:
All candidates will start a campaign and make election promises. FishyGuts and MrLynch will not stand for election out of self-interest. Both will be responsible for the network and the KMD ecosystem in the event of a successful outcome. Both act for Pirate, as both will put 50% of their rewards into the further development of Pirate. Each notary node can earn about 50 KMD per day, which is about 1500 KMD per month, half of which could go to Pirate.
Pirate is a community project! A Notary Node of its own wouldn’t be vital for further development, but it would be an additional source of income to help advance the Pirate project.
Interview with MrLynch
We have met with one of the responsible persons to provide further information for you. Thank you MrLynch for your time.
Tell us a little bit about yourself and the hardware you will be using.Is it your first NN election to participate?
I have been in ICT for 20+ years with a passion and focus on security, networking and backend (i’m more interested in making things work rather than making them pretty). Early crypto miner – mined BTC in 2010 (sold most in 2011 😬) and have refound my love for crypto in October 2018 when I stumbled upon Pirate. From there I started exploring the KMD ecosystem and found it unbelievable to see how advanced the tech is and how solutions are built in weekends for problems that have been around for years (i.e. fungibility – Pirate / any coin; scalability – KMD / ETH), but i could go on about this for hours so.The hardware is rented and hosted in datacenters close to the submarine cables for better global connectivity -> London, UK; Beauharnois, CA and Singapore. If we achieve our goals of peak performance and are eligible for re-election next year, we will buy the hardware and host it in top datacenters. Details of the specs can be found on https://notary.pirate.black e https://www.submarinecablemap.com
What made you run for election?
FishyGuts did (😄) – he proposed that we should run for election as a way of contributing to the Komodo Ecosystem and promoting Pirate
Needless to say that when I first read about NN’s, how to set one up and what the job involved I knew I had to do it.
Now, being in the testnet, I took the decision of quitting my job so that I can dedicate myself fully to this ( 🤞 that we win ) . It is serious business and I intend to participate accordingly. It is a full time job and am ready to do it.
What happens to the rewards in detail and how does Pirate benefit from them?
Our NN accounts (what we will do with the funds) are listed on our notary page (https://notary.pirate.black) but to sum it up- max 20% – First and foremost we will cover the costs for maintaining the servers at peak performance and the KMD allocated for that will fluctuate depending on FIAT rate as servers are paid in FIAT but no more than 300 KMD per server per month – whatever is below 20% will overflow into the Pirate War Chest- 17% will go towards growing the KMD Ecosystem by providing additional funding to projects such as Verus and KMD Labs, both of which have done tremendous work in the background to help PirateChain.
- 33% goes to the Pirate War Chest -> this will help the project relly less on community donations and gives us the ability to actually hire devs to work on things such as zSPV – which is a mind-numbing, nerve-wracking herculean task; reward devs like @radix42 for her hard work on successfully porting and running ARRR & KMD on Rock64 boards – tiny noiseless computers that run full nodes 😄 and push further adoption of Pirate
- 10% will go towards growing the KMD Ecosystem by building a simple (😜) payment processor solution for Ecosystem coins (main goal being Pirate though) and a zcommerce search engine for all things private – Full Disclosure: these are my projects and the only reason we have put down 10% towards this is because this will be my full time job along running the notary nodes and hopefully getting under the hood of KMD – I have quit my day job as a Security Analyst to do this full time and I’m currently re-learning how to efficiently use C/C++ (haven’t touched C++ in over a decade)
- 20% of the rewards will go to FishyGuts & myself (although he keeps saying that i should keep it all) because as I found out in the testnet it is a full time job and you’re on call 24/7 and we have bills to pay and we need our rum.
What else would you like to tell the community and potential voters?
Please see the stats in the testnet
Vote for Pirate for Privacy!
Thank you for your time.
Contact us for further questions
written by Seko1900 in cooperation with MrLynch