11–20 of 395 posts
Earlier quoted context omitted.
> with a fixed face value So how does a transaction work? Do I exchange a 500 kong note for a 10 kong item and 490 kong worth of notes?
Just like cash. So if you use a 500 Kong note to someone for a 10 Kong item, they will have to make 490 Kong in change. 4x 100 Kong notes, 1x 50 Kong note and 2x 20 Kong notes...etc.
If the private key is inside of the note and stays the same when it changes hands, how do I know you did not make a copy of it when you created the note?
Specifically, Kong notes use a secure element which 1) self-generates a key pair 2) can attest the key pair was self-generated and 3) does not leak the private portion of that key pair. Section 2 of the paper (specifically 2.2) goes into more detail[1].
[1] https://ipfs.io/ipfs/QmRNRCocj4PwKMXrd1jeUGw7ASQSuEk7BDJu5Ks...
I'm curious, have you tried passing an airport border security with several of these notes, and have you been asked what they are :)? Do you have to declare them?
Even so, we're unaware of any value to the Kong token independent from Kong notes and we are not taking steps to list it on exchanges. If Kong was to become a means of exchange somewhere then it might need to be declared as a monetary instrument depending on the jurisdiction.
If the private key is inside of the note and stays the same when it changes hands, how do I know you did not make a copy of it when you created the note?
I'm assuming this is unrelated to the Kong API Gateway https://konghq.com/kong/
The email 'request access' thing doesn't work