Why Vote on The Komodo Notary Node Elections

in #komodo7 years ago (edited)

Komodo Elections

The Komodo Platform is currently organizing its notary node election, during which 68 notary nodes will be chosen to provide the platform with the security specifications it requires to be a sustainable and scalable blockchain with high-level security.

Much like any election, voting can be seen as a non-enforced duty that is entrusted to all the members of a community, in this case, the Komodo Platform community. One of Komodo’s greatest innovations as a cryptocurrency is the ability to secure its blockchain with Bitcoin-grade security. This is done through the dPoW mechanism which relies on the notary nodes to export the information from Komodo to Bitcoin.

Being one of the most defining features of the Komodo Platform, it’s crucial that it works as intended. Without the collaboration of the community, these nodes would have to be chosen by a central point of authority, a process that would defy the ideology in which Komodo and Bitcoin itself were founded.

As so, we rely on the community’s best judgment to assess the candidates and to vote for what they perceive to be the most reliable and professional ones. This choice should be made with several considerations in mind, based not only on the user’s long standing reputation within the cryptocurrency community but also on the candidate’s ability and experience in running serious servers. It is also important to consider the amount of subsidy the candidates are requesting, the amount of testnet KMD mined by the nodes and experience both in hosting and within the cryptocurrency space (and in any other field that may seem relevant).

It is also important to understand that the notary node candidates have already set up their servers, without any guarantee of being chosen. As a token of appreciation for all the candidates and their efforts, it is only right that voters do their due diligence when selecting these nodes and vote responsibly.

If you’re still on the fence about voting, look at it this way: Komodo went through a crowdfunding period. The funds gathered will be used primarily to support these notary nodes. Through this election, the community will be able to choose which nodes will receive the funds gathered. So, in a way, you are choosing how your funds are spent. Will they be used to fund serious and dedicated notary nodes? It’s up to you!

For more information read our guide about the 2017 elections.

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