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Komodo Daemon Must Be Updated Immediately

This is a message from the Komodo Platform team to advise an immediate update to the Komodo daemon. 

The Komodo development team has already activated changes to the Komodo code base. The changes are mandatory for the entire network before block height 1 Million. Block 1 Million will be mined in approximately two weeks.

The updates to the Komodo code base include three major changes.

First, we’re excited to announce the implementation of 4 CryptoConditions-enabled smart contracts to Komodo Platform: Faucet, Dice, Rewards, and Token contracts.

Second, we are eliminating the “Free For All” mining periods, which currently occur every 2,000 blocks and allow all miners (notary nodes and ordinary miners alike) to mine blocks at the same level of difficulty. Instead, we are adjusting the code to recalibrate the non-notary mining share to roughly 25% of all blocks. Mining rewards will remain relatively constant at all times.

Third, we are adjusting KMD active user rewards. To receive the full amount of 5% rewards, users must move their KMD at least once per month (rather than once per year, as is currently the case).

These updates are hardforking changes. Anyone running the Komodo daemon who does not make the update before block 1 Million risks running on a fork. Therefore, the update is mandatory and should be carried out as soon as possible.

Here are the instructions for updating the CLI daemon:

If you have Komodo daemon running, you can keep it running while updating if your machine has the sufficient processing power. If you prefer to stop it before updating, please use

~/komodo/src/komodo-cli stop

to stop the daemon and proceed with the steps to update.

Be sure to follow each of these steps carefully. Don’t move onto the next step until the previous one is successfully completed.

1. Navigate to your Komodo directory.

cd ~/komodo

2. Make sure you don’t have any changes made to the source and reset it. This will ensure clean source and shouldn’t create issue while pulling the latest source in the next step.

git reset --hard

3. Use master branch

git checkout master

4. Clean the source directory.

make clean

5. Update the source. (If you’ve made any changes to the source code, this step may not pull the latest source. Please make sure you used the step above to eliminate this issue.)

git pull

6. Compile the latest binary.

./zcutil/build.sh -j$(nproc)

Start your services as usual. (If you have not stopped the Komodo daemon before compiling, please stop the daemon now and start it again.)

7. Verify the update

./Komodo-cli getinfo

Please look for the KMDversion in the output of the above call, which should display:

"KMDversion": "0.2.0",

This verifies your Komodo wallet daemon is updated to the latest version which has the required updates.

All users of Agama wallet must update to the latest version. This is true for both Native Mode and Lite Mode (SPV Mode) users. The latest version of Agama wallet can be downloaded here.

If you have any questions or need further assistance with this update, please contact the Komodo support team at support@komodoplatform.com. Komodo team members are also available on the Komodo Discord server.

Thanks very much for your time and cooperation.