On July 31, 2020, Dexaran and Yohan met the Guarda Wallet community and answered questions about smart contract audits and auditors, cold staking, and privacy coins.


 

Elizabeth from Guarda: Hey, hey everyone!! How are you doing? We are ready to start our AMA session with Callisto Network! ?✨
Callisto CEO @yograterol and @dexaran Co-founder are here to answer your questions!

Maximus_EL (Callisto Admin): Ladies and gentlemen, meet Dexaran and Yohan, founders of Callisto Network.

Elizabeth from Guarda: Lets get started!! Callisto representatives will answer 5 chosen questions from Twitter, and after that will answer some questions during the live AMA session!

Dexaran: Hello Guarda Community

Yohan Graterol: Hello community!

Elizabeth from Guarda: Aaaand.. here we go!! Here is the first question from Twitter:

Hello, this is my first time to learn about Callisto Network. Can you introduce Callisto Network? What problems can it solve? And the recent development plan of the project?

Dexaran: Callisto Network is a security platform and an incubator of ideas. We have a working Security Department that has performed more than 300 security audits already. Not even a single DAPP that was approved by our security experts was ever hacked.

We have a proposal system where people can submit proposals and get funding to start the implementation. You can find more info at our website and /Roadmap github repo.

Elizabeth from Guarda: Are you ready for the second question?

How easy is cold staking for beginner?

Dexaran: Cold Staking is the most user-friendly implementation of the staking model in the industry. You can just click the “stake” button and forget about it. You don’t need a node ever. You can just click the “claim reward” button to collect the reward 27 days later.

Keep in mind that Cold Staking will lock the funds, so you have a choice to claim the reward only or reward+stake after the 27 days of staking.

Yohan Graterol: Almost all wallets supporting Callisto Network have a shortcut to stake $CLO in the smart contract, almost with one click/tap (depending on if they are using the wallet in web or mobile).

Callisto Web Wallet has buttons to start staking, withdraw.

Elizabeth from Guarda: Thank you for your explanation!

Why does Callisto Network implement an encryption function to control privacy?  What technologies are applied to provide a protective layer to support $CLO anonymity?

What are $CLO’s advantages over other privacy coins?

Dexaran: Most of privacy coins are based on BitcoinCore nowadays. BitcoinCore is a deprecated and far outdated technology as it does not support any virtual machine and thus smart-contracts.

If you want a cross-chain bridge, then you need smart-contracts. If you want stablecoins on your chain, then you need smart-contracts. If you want any business logic on your chain, then you need smart-contracts.

Unlike most of so-called “privacy platforms” $CLO is not based on BitcoinCore. $CLO is fully compatible with EthereumVM and smart-contracts. We are planning to integrate with EOS ecosystem as well.

Yohan Graterol: We’re using technology derivated from Tornado Cash. This privacy is being introduced in Callisto over the smart contract layer; it’s not fully native-like Monero or ZCash; however, it works well. It’s a balance between smart contract functionality and privacy.

You could implement a smart contract using Eclipse to transfer your funds from your wallet to another smart contract, wallet or exchange anonymously.

Elizabeth from Guarda:

Today, DeFi seems to have become a hot topic for many popular platforms (such as Ethereum, Vechain…). How does Callisto Network view DeFi in your strategy? Is Callisto Network ready for this big wave?

Dexaran: In most cases “DeFi” is an application that utilizes smart-contracts under the hood.

Elizabeth from Guarda: Thank you! And here is the last question from Twitter:

In recent years mining is no longer a trend because they do not receive profits due to the falling market, high electricity costs … etc, what makes $CLO make people should mining it?

Yohan Graterol: Well, it’s not entirely true.

Callisto is listed on sites like Whattomine, and the profit from mining has been almost positive during the last years. Another coins could indeed be more profitable in the mining process. However, it’s part of the market.

Now, let’s put the gaze to the dropping of 4GB cards in $ETC and $ETH could be an exciting event for $CLO.

Dexaran:The “recent years” are just a bearish market where mining is always stagnating. You can review a historical chart of Bitcoin mining and its profitability. Even though Bitcoin mining is even more expensive, it is still profitable.
You need to learn how market cycles work for better understanding.

You need to learn how market cycles work for better understanding.

What is the business model of Callisto Network? How many revenue sources do you have? Is it enough for the project to survive if the crypto winter lasts longer than expected?

Yohan Graterol:  For now, we receive two income:
– Block dev fee.
– Smart contract audit fees.

Experts has warned of dangers of ‘Smart Contract Risks’ in DeFi protocols, Callisto Security Department has audited many smart contracts, none of which have been hacked.

What do you think makes these Defi smart contract (e.g. Balancer Pool) vulnerable for hackers and how can security be beefed up?

Dexaran: What makes contracts vulnerable is mostly the inattentiveness of the developer. In most cases, developers sacrifice security audits/testing/bug bounties for faster launch, which is the most harmful strategy. Following the best security practices dramatically reduces the risks of implementing a function that can be exploited by hackers. If there is nothing to exploit then hackers can not hack the contract..

Smart contracts are already coded and cannot be theoretically modified. If Callisto’ auditors finds an error when auditing them, what does it do next?

How can I get passive income with Callisto? Exactly what is Cold Staking? Is it the same thing that happens in PoS projects?

Yohan Graterol:  

1. The dev must (or should) deploy a new smart contract having an upgraded way to move the txs from the first contract to the second; if they do it in an early stage, it’s easy to modify because the dev only requires to deploy a new smart contract and done.

2. It’s not the same as PoS, Cold staking doesn’t work like PoS, Callisto is still 100% POW, so. The income for Cold Staking comes from block reward, 30% of the block reward go to the Cold Staking smart contract, and the reward is shared between all stakers.

What problems do you want to solve actually through Callisto Network’s blockchain? What new solutions are you bringing to us in blockchain and Crypto?

Dexaran: With our security auditing department, we aim to solve the problem of improper development strategies leading to hackable smart-contracts. Our main goal is not to save developers from making mistakes because it is impossible. Our main goal is to save DAPP customers from trusting developers who don’t even bother performing a security audit and sacrifice their customer’s security and make DAPP developers pay attention to the security concerns.

How can Community participate in Callisto Network? As a auditor? Miner? Validator? Please explain.

What is the benefit of being auditor in Callisto Network ecosystem?

Yohan:  You could participate as a miner, no problem, it’s the same process that mining ETH, no additional hardware or software required.
If you want to be an auditor, you could send an email to dexaran@callisto.network and apply as an auditor; you will require to pass a test.

Callisto Network is a Blockchain developed by Ethereum Commonwealth.

So how are you better than Ethereum and what’s the difference between Callisto Network and Ethereum?

Dexaran: Callisto Network is not really “better” or “worse” than Ethereum. We are all part of the Ethereum-based ecosystem (Ethereum, ETC, UBQ, QTUM and many other projects with similar virtual machine).

Most of these projects introduce their features and have their own focus. The main focus of Callisto Network is smart-contract security.

Yohan: We don’t look to be better than Ethereum; it’s not the real fight, our goals are to keep safe the ecosystem and use the Callisto blockchain like Ethereum use, you could develop and implement smart contracts paying fewer fees than Ethereum right now, so, it’s like multiple Linux distros, don’t exist the “best” Linux distro, everything is Linux, in theory, you could run the same in each distro without a problem. However, you can choose the flavor that you want to support :D.

Will only auditors review the smart contracts?

What are the tasks of smart contracts auditors?

Dexaran: A smart-contract security auditor must:

1. Review the source code of submitted DAPP.
2. Secretly write an “audit report” (in a secret gist) and deliver the secret report to the head of security department.

Head of security department will collect at least 3 secret security reports from three independent auditors and compare them. Then he will evaluate the score of each auditor and assign their rewards.

Auditors are competing with each other so they are not interested in sharing their findings. In most cases a smart-contract is review by four security team members: 3 auditors and head of security department.

Why did you decide Callisto to be not financed by pre-mined coins or an ICO?

Yohan: It’s not fair, 99% of ICOs are only a 2017 schema to be productive quickly (1% like Ethereum, Maker, Tron are ok), you don’t receive equity. So, in theory, you are buying a utility token, and you don’t have the right of anything; it’s 100% different to an IPO where you could get rights covered by laws.

And pre-mined, it’s other 2017 schema where a lot of people forked Bitcoin (Bitcoin diamond, gold, a lot of metals xD) and they pre-mined to sell it in the market opening.

Dexaran and I don’t share that philosophy.

An ETHICAL HACKER AND EXPERIENCED DEVELOPER,do you have plans for HACKATHON so as to check the security of your ecosystem periodically.

Dexaran: Callisto Network is not completely based on smart-contracts, so it is unnecessary to handle hackathons to ensure our own security.
We are focused on helping the industry to enhance the security of DAPPs (but not the security of our own protocol which is almost similar to Ethereum with some modifications).

However, we are definitely performing security audits and bug bounties when introducing some features based on smart-contracts. You can follow the project and participate in public bug bounties.

Metamorphosis is a laudable one. How have you been able to survive this longest bear market and continue building and developing so many projects have died out in this time period?

Yohan: It’s a hard process, we don’t do this by money (our salaries are less of 500 USD monthly). We like the project and we are supporting this to survive the bear market.
Basically investing our time to keep on going the project without thinking that we want a lambo tomorrow, because it’s not part of the project for us, we’ve covered 90% of the whitepaper in production a good motive to continue and move things to Callisto Network.

With the “Cold Staking” feature, users receive interest just for holding their $CLO crypto-currency.

What benefits does that bring to Callisto Network?

Dexaran: Cold Staking is a financial feature. Callisto Network does not benefit from stakers in a direct way unlike POS chains where “stakers” are actually producing blocks and maintaining the network operability.

However, our current Cold Staking is just a first step in implementing the governance system, so Callisto needs Cold Stakers for its future decision-making mechanism.

What is the company’s structure, is it a decentralized, open-sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?

Yohan: Well, the company is only a legal entity to sign some bureaucratic things, like a legal opinion.
However the company right now doesn’t have any right over $CLO.

About governance -> https://callisto.network/on-chain-governance/

What industries and user groups is the Callisto Network project mainly aimed at? Do you plan to establish partnerships with local cryptocurrency developers in each country to make the use of  Callisto Network more global?

Yohan: Good question, the emerging markets are good target right now.
All projects want to enter in Asia (mainly China) but the funnel is not good there for us.

So, our target in this moment:

– Africa (Mainly french speakers)
– Latin America (I’m investing from my money in this market)
– Vietnam-Indonesia, both are good targets; however, we should look to establish well first in Africa or Latin America before going there.

What are the requirements to become a smart contract auditor?

Dexaran: You can become an “unapproved” security auditor anytime. Then you will become an “approved” security auditor once you perform three or more security audits at our platform. I will recommend you to send an email first: dexaran@callisto.network / dexaran@ethereumclassic.org
Due to the recent updates in our audit request submission methods there can be fewer audit requests in queue.

Requirements:

– Github account.
– Knowledge of solidity.
– Knowledge of basic Ethereum principles (block times, blockchain specifics, gas pricing mechanics).
– Basic knowledge of cryptography.

First time of hearing about Callisto Newtork blockchain, and I must say I love your project. How will you let more people know about this your good project?

Yohan: We have a group of good supporters, they are doing a good job in Twitter and social media-> https://twitter.com/callistosupport
So, for that side we are reaching new people.

Recently I entered in Youtube world, for mainly to reach people in Latin America.

How did the community bring you new opportunities as a business and how did you utilize these opportunities to build Callisto?

Yohan: We’re always availabe in Telegram, It’s my second app after the browser. So, any one could write me by private message or send an email to yograterol@callisto.network.

Are the requirements to be both Managers and Auditors the same? Are the benefits they receive the same?

Dexaran: Auditing manager (i.e. the head of security department) is a person who is mostly responsible for verifying and comparing security auditors reports.

Security auditing manager receives a fixed % of all the auditing revenues while security auditors receive the salary based on their score i.e. the more errors they report the higher the salary but security auditors are greatly penalized in case they missed an error reported by another auditor. In some cases, successful security auditors may receive higher pay than auditing manager.

Basically the requirements are the same but you will not become an auditing manager as long as there are more experienced team members at this position because this is a responsible role.

Callisto Network looks good but it confuses me that there are so many other Blockchain project. What should I pay attention in Callisto Network to give it the importance it deserves? What are your planning to achieve with your project?

Yohan: I feel the same like you.
And we’re working to have at least a good niche in this market, for that features like Cold Staking, Total Eclipse, CryptoBot, Security Auditing.

What makes you feel confident about the survival and success of Callisto Network when we are in such a very harsh competitive market like Blokchain industy?

Dexaran: Callisto Network has no competitors in its niche.
There are plenty of development platforms one better than another: Ethereum, TRX, EOS etc.
Development platforms are quickly evolving – newer ones have better performance and better governance, but there are many aspects to improve.

Unlike development platforms, Callisto Network is a security platform, and its main utility is its structure and team. It doesn’t matter which platform is currently the most adopted one – we can work with anything on the market. We can perform security audits of TRX and Ethereum contracts now.

We could expand and establish a new security department that will work with other platforms.
There is not even a single DAPP insurance company in the industry, so if we will be the first to establish an insurance department, we will be the only one there.

End of the AMA

Elizabeth from Guarda: And that’s it for todays AMA session! @Dexaran @yograterol Thank you so much for being with us and answering questions during the AMA session!

And thanks to all participants! I hope you guys enjoyed the AMA session and received the answers you hoped for!

Maximus_EL (Callisto Admin):  We will be more than happy to answer any further question you have through our TG channel guys, thank you for participating and be safe.

Appendix

Previous Ask Me Anything sessions with Callisto team:

Yohan Graterol’s Ask Me Anything with BCCore on 18/07/2020.

Yohan Graterol’s Ask Me Anything on 08/06/2020.

Miscellaneous

Passive Income with Crypto: Masternodes VS Staking


Trust the Blockchain, Audit the Smart Contracts.


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