This series of posts is called the Tech Tuesday Updates. Along with Komodo's Five Bullet Fridays weekly newsletter, Tech Tuesday Updates is another weekly piece of content to look forward to.
In case you’ve missed a previous edition and want to catch up, you can find all the previous Tech Tuesday updates here.
Open Blockchain Design Templates
Lucky readers will see ideas of jl777’s blog float through Tech Tuesday and developer documentation. In my experience, James tackles hard blockchain problems. Not the insurmountable tasks— not immediately anyway, too many other problems to solve.
In achieving these extraordinary technical feats— which always makes me smile first, then glol (genuine laugh out loud) with enthusiasm (usually whilst shaking my head when I begin to have a deeper understanding of what has been solved)-- I come back to realizing how deeply entrenched centralized software is. I spent 10 minutes looking for easy-to-use Business Process Modelling examples, but it doesn’t exist.
James’ simple & elegant blockchain solutions to complex problems are not far from further adoption. There are many building blocks that have been on github for nearly 12 months. The ideas from the first building blocks have been used in building more complex solutions below.
In an interview I did with Bitcoin Benny in 2018, he mentioned the path blockchain adoption will take:
- First the blockchain tech works for simple currency
- Next step is it solves problems in fintech
- After fintech, normal tech
- Once it is in tech, it goes mainstream
It’s nearly mid-2019. This year alone, Komodo (via jl777) is discovering solutions to challenges in the fintech sector:
- Synthetic pricing for markets, for instance, includes a solution to create a series of blockchains for crypto priced stocks and foreign currency exchange.
- The automatic money-making-machine (AMMM?) of a DAO with it’s business processes codified into a blockchain consensus can offer airdropped or transactionalized dividend & disbursement payments to shareholders.
- Decentralized price feeds fetches prices from a single source as an example of every node taking part in consensus. Instead of “rage-reading & being triggered” to jump to a conclusion that “...a single source can be corrupted…” understand that this is an example we are racing to build.
The correct go to market implementation requiring a marketing team, documentation, and customization will use multiple sources for these price feeds, perhaps certified data providers as well. We’ve designed the blockchain solution, we are looking for builders.
Let’s move away from decentralized price feeds for a moment. Instead of a price feed - what about a planetary position? Not so crazy. Positions of Mars, Venus and Uranus on the blockchain. Why? Decentralized Astronomy! Although not a fin-tech service, certainly an interest group may find it engaging and rewarding. Otherwise, maybe tidal data, air samples and other environmental readings from IoT devices. Anything and everything is possible.
Fast Decentralized Trustless Oracles (DTO)
Zack from Amoveo was kind enough to offer commentary on fast oracles. It is a response to jl777’s blog posts about a (DTO) decentralized trustless oracle solution by Komodo. It spells out some important considerations that are linked within the article.
Trust Theory contains a set of considerations and ranks them. These can be cast onto current smart contract and oracle problems…& solutions. A vocal minority of investors in those projects were annoyed at the exposure. If they read Amoveo’s Trust Theory, they’ll see that the problems are justified in some circumstances. Another discord chat on Komodo oracles has been published by community member KomodoWorld.
PHP Library Initial Release
This is a shout to webworker01 for creating a PHP library for creating addresses and working with electrums. He used the nodejs implementation by pbca26 as a reference. A tool like this is intended to be an integration point into PHP web applications, for instance the Blesta billing system.
It is one of the numerous contributions from Komodo’s Notary Node Operators, both current operators and those that are running for election. I can’t name them all because they are too numerous. Some are core, some are application specific, some are for the ecosystem. DYOR as they say in this industry. Proposals are here.
Hush 3 Now Komodo Code
The v3 of Hush blockchain project has been moved to Komodo and is being notarized in the blockchain security service by the dPoW process. Small blockchain size of < 100MB and a hashrate already at 3MH. Rolling with the punches of the shout outs to Notary Node Operators, Hush lead developer Duke Leto recently linked us a tool to convert from ZEC addresses to KMD addresses is here.
The shortlist of segments has a small backlog which will be posted over the coming weeks with exciting news when more complete information can be sourced...from the source!!