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Can you give me information about the notary nodes election process?

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Can you give me information about the notary nodes election process?

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Taken from & modified with additional information:

If you are interested in running one of the notary nodes and get the ~$500 per month, then you need to start "campaigning" to get the votes of the investors. I am not talking about the normal politics campaign, but this is about running the backbone of dPoW. So what will matter is your experience in running serious servers.

We can also use the testnet KMD as one metric in evaluating a notary node. Clearly if you are mining testnet KMD, you are running a node, which is a prerequisite.

So, post your handle, the geographic region of where your server will be hosted, how much testnet KMD you have mined, relevant experience and whatever other info you feel is helpful for the electorate to know. The vast majority of the 3KMD per block reward is expected to go to the notary nodes and if the market price of the 1/64th share is less than $500/mo, the BTC from ICO will be used to make up the difference.

Before voting begins, we will have a notary node certification results that will also be included on the ballot.

Server specs are a min. of 64GB RAM + 500GB SSD and 100mbps bandwidth, 8+ cores, more is better. Notary nodes will do more than just pure notary services and you can also run LP nodes and other services to further enhance your revenues.

We have arbitrarily segregated the world into 4 regions: North America, Europe, Asia, Southern Hemisphere

I know this is not exact, but it is approx distribution of overall internet usage with some debate over eastern europe as to whether it should be in the Europe region or Asia region. I will let the electorate decide on such distinctions. A single notary node operator can run a max of 1 node per region, for a total of 4. However, each notary node needs to be elected in its region, eg be one of the top 16 vote getters per region.

One of the requirements to running a notary node is to monitor the #notarynode channel in the SuperNET slack. That is where realtime updates and issues will be communicated

If there is someone that can create a simple website for notary node candidates to post their info, I can probable get some sort of bounty for it. ANYBODY can be a notary node candidate, but all notary nodes must be elected with sufficient stakeholder power to win a spot. This is a crucial aspect and one of the reasons for a large ICO, so that we get as broad of an investor base as possible to make obtaining a 51% control as difficult as possible.

While nobody will get rich running even 4 notary nodes, it should be a nice bit of extra income to those that do run it as most of the work is to just make sure the server keeps running and to update to the latest versions.


jl777 also wrote the following about how to become a candidate:

The most important is to run a testnet notary node

join #notarynode in the SuperNET slack, auto invite at

there will be a simple website to provide information about candidate's qualification and ip location and hardware specs.

For now, announce candidacy here. Be active in #notarynode and mine testnet blocks with your notary pubkey. This prove's technical competency and when voting time arrives, a lot of voters will choose to pick a random candidate, so just by being technically qualified gives a good chance of being elected

What the electorate wants to avoid is a large number of notary nodes all controlled by a single entity. So by having a set of qualified nodes to randomly select from is one way to achieve this.

If you have no contacts with "insiders", that is an advantage. You dont have to know anybody, just have to know how to run command line unix. By design, the control of Komodo is being spread as far and wide as possible. It is to everybody's advantage to have no large concentration of control

Also I want to make clear that there are no "insiders" as everything is open. The source is open while I am debugging, bugs and all. The process is open in realtime via SuperNET slack and this thread. So anybody and everybody is welcome to participate. There is no large company that has any large position, even SuperNET which probably has the largest BTCD position is likely to end up with less than 5% and it is a decentralized project that is also open to anybody and can usually be purchased at about the NAV of its holdings.


More info by jl777:

i dont think we will have 64 total candidates at first, but some will be running multiple nodes. Since being an incumbent will have the inertial advantage, I encourage everyone who wants to be a notary to just run a testnet notary node. Odds are good you will get elected to be an official one.

As the price of KMD goes above the breakeven point of $500/mo, then we could start seeing a lot more people wanting to become a notary as really it is a license to mint KMD and has value in and of itself. The fact that it is being subsidized at first just makes it have a very low barrier to entry. Again this is to broaden the base of potential notaries as wide as possible.

After the initial official voting, I expect the notary nodes to be rather stable as it is a potentially lucrative position without much risk, other than the time needed to stay current. Other than a "notary gone bad" situation necessitating a replacement, I think we might also have the lower percentile ranked notaries able to be challenged by new candidate. This will ensure that the notary nodes performance will be able to evolve with the market and not be tied to current specs forever.

While for now 64GB RAM + 500GB SSD might seem like a high end server, in 3 years it will probably be in tablets and phones. So if the notary operators arent keeping up, the a challenger could start an election against the lowest performing notary(s).

These are things that are not set in stone yet and I am definitely open to feedback. On the one hand we dont want to be changing notary nodes like socks, on the other hand we dont want to be stuck with the same set of notary nodes forever unless they have been doing a fantastic job.

While the fundamental requirement of majority of existing notary nodes or (one third + special signature) being required to approve a notary node is pretty much set, the details of how elections are done is not final. I want to get the basic system in place and working first before solving all the future elections details.

If anybody knows of an appropriate election system to use, please let me know. Most elections have low participation and that can easily lead to being manipulated.

One idea I have is for the voter to vote not for a specific candidate, but to be able to specify a ranking algorithm based on objective metrics. Then the election process can have a 100% participation without being random.