Komodo is in a constant state of development. With a commitment to innovation and a long history of execution, Komodo is consistently recognized as one of the world’s most innovative blockchain projects.
Now, Komodo is pleased to announce that an update to the Komodo code base will be made on December 15, 2018 at 01:00 UTC. The update will activate a number of new features, including the Sapling Upgrade, 10 new assetchain parameters, and an increase in block size for all updated chains, from 2 MB to 4 MB.
This is a massive upgrade in technology for the entire Komodo ecosystem, but more on that in a moment.
Mandatory: Update Komodo Daemon Before December 15
Before we discuss the particulars of this update, 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.
Several crypto exchanges have already disabled deposits and withdraws of KMD in order to make the update. Other exchanges will be doing the same soon. The update will activate on December 15, at which point exchanges will be able to resume deposits and withdraws of KMD at their earliest convenience.
As this is a massive update that includes changes to over 500 different source files, extensive testing is necessary to ensure there are no issues with the code. As a result, the update will take longer than most updates and the Komodo Dev Team is working closely with all exchanges to ensure a seamless update for all users.
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.
A Thriving Blockchain Ecosystem
Several of the new features that will be activated on December 15 were inherited from the broader ecosystem in which Komodo exists.
The first important upgrade coming to the Komodo ecosystem is the Sapling Upgrade. Sapling was first developed and activated by the development team of Zcash, one of the world’s most popular privacy coins and Verus Coin, a friendly fork of Komodo within our ecosystem, enabled this upgrade into the Verus blockchain.
Lead developer of Verus, Mike Toutonghi, recently announced as Strategic Advisor to Komodo, packaged up the hard work done on the Sapling upgrade as well as some additional parameters, and upstreamed them to Komodo in true open source fashion. 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.
In addition to Sapling, the new parameters upstreamed and being activated in the Komodo codebase on December 15 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
As an ecosystem devoted to great development and innovation, we’re excited to be implementing this host of new code into the Komodo codebase and glad Verus chose our platform to build upon!
This is a perfect example of what a thriving, open-source blockchain ecosystem looks like. As long as all parties continue to develop and contribute new tech, the ecosystem will remain greater than the sum of its parts.
Thanks To Our Supportive Community!
Komodo would also like to thank all community members for your continued patience and support while we complete this major update to the Komodo code base.
If you have any questions or need help making the update, please contact the Komodo support team at [email protected] or join the Komodo Discord server and get help in a real time from a member of the support team in the #support channel.
To be among the first to receive future updates about development at Komodo, sign up for Komodo’s 5 Bullet Friday newsletter. Every Friday, we’ll send you the 5 most important developments from the previous week. You can also join the Komodo community on Discord to get real-time updates and chat with Komodo team members.
Join us as we continue to accelerate the global adoption of blockchain technology.