On June 8, 2020, Yohan Graterol, Callisto Network’s co-founder, answered questions about Masternodes, Delegated Proof of Stake (DPoS), and the potential for cryptocurrencies in Africa.
Admin: Ladies and gentlemen, AMA with Yohan Graterol, Callisto Network’s Co-Founder START NOW!
We will reward the 3 best questions with 1000 $CLO each ⭐️
Please be respectful, give Yohan the time to respond, and do not repeat questions. Thank you 🙏
Hey Yohan! How are you? Where are you now? Do you have something big to announce today??
@Yohan: Hi, I am good, mate.
I am in quarantine at home 🙂
Well, about the announcements, we’ve announced by part the new things.
– Private txs through smart contracts. (Launch date July 20th – The Moon day).
– Token in Binance Chain (No Binance Smart Chain). Launch July 20th.
– We’re migrating to a new website design to optimize how we show the products. No specific date could be before of Moon day.
– Proof of safety, we are releasing proof of safety for past audits showing the report in PDF more readable than the current report that is more technical.
Binance Smart Chain is still under development. I am not sure when they will launch it.
Good evening Yohan.
Is it possible to insert the masternodes in the Callisto project ??
No, we have cold staking, it works similarly in the income way without adding the technical layer to keep a client running 24/7.
Let’s start with the technical part. In the past, Dexaran has commented that CLO’s best choice would be D-Pos precisely in the way Binance did it. Is there any involvement of anyone from the team with Binance? Also, almost a year before, you had announced that you applied to be listed in BINANCE. Since then, you have not informed us about the status of the application. Can you please tell us about it? Also, on twitter you wrote about interoperability between CLO and Binance blockchain? Is it ready? A listing to the BINANCE DEX when will be announced? Today?
D-Pos/POS is a good option. However, we’ve not put it in the table about implementing it. We will keep POW at least for this year, we will see how POS works in ETH and if we get some benefits with more miners. I wouldn’t close the door to receive a lot of miners migrating from ETH, at least during phase one of ETH.
After reach three or four reward reductions more, we could move to POS thinking that POW couldn’t be profitable with block reward under 80 CLO.
About the application to Binance Exchange, no positive/negative answer. No news around it.
Talking with part of the team, the best way is to use Binance products (Binance Chain and Binance Smart Chain) and get attention. It could be a second layer for us.
Binance Chain is where the BEP2 tokens live right now.
Binance Smart Chain will be the layer to run smart contracts compatible with Ethereum.
Binance Dex, we haven’t talked about a listing in Binance DEX. How I see (and this is forecasting), Ethereum is not fully suitable for DEXs. However, Ethereum has the major volume of DEXs right now because Ethereum has stablecoins and tons of ERC20, so, with Binance Smart Chain we could see more DEXs implemented there and I would like to take advantage of it implementing CLO in Binance Chains.
Good evening thank you for this opportunity. 1) I would like to know what CLO would bring to Africa in what it is different from other cryptos that target Africa?
CLO’s supply and cost could help some Africa communities implement a low-cost payment system as a first use case. The volatility doesn’t exist in CLO since September 2019, injecting new supply we could see more a progressive grow.
You could implement apps using smart contracts without pay a higher fee in USD (deploying and running the contracts).
Hi @yograterol, are you familiar with EIP-1559? What do you think about integrating similar functionality in Callisto Network?
Yes, I’ve read it, and for now, CLO doesn’t need it because the fee is lower than ETH.
We must reach > 1 million txs per day (single transactions) or bigger data txs (smart contracts txs) to reach the limits of the current block size at that point move the gas fees up to 100-200 Gwei is still cheap compared with other blockchains.
Mining hashrate is very low compared to the recent past. Do you see any reason in the near future that will result in a significant increase in CLO mining?
We’ve seen two-block reductions keeping almost the same BTC exchange rate 10-6 sats. It’s expected the hashrate reductions because with a lot of miners, the mining process is not profitable. Now, looking at the ETH POW-POS migration, I would like to watch what will happen.
We are in a good position in Whattomine to attract a good amount of miners after that migration. If it doesn’t happen, well, go to POS.
Dexaran has also worked to strengthen the relationship with the EOS team. Any news from this side?
Since January to today in EOS, there not enough evolution in the main issues around usability and security, we’ve followed WAX (WAXP) and Telos, but I didn’t go deeper in that way with Dexaran.
EOS is the best option being the main net. However, a migration there will be harder, creating accounts there has a cost in money and how many CLO could be lost without the possibility of migrating because the cost of the account is higher than the amount of CLO to migration for at least 10k accounts, for that a blockchain with free accounts is more suitable, and I’ve talked about it with Dexaran.
Is Callisto faster than Nano? How fast is a payment being sent to the other side of the world? It is now known to all that Bitcoin has a blockchain slow to be supported in the future. What does Callisto thing to do?
I didn’t test Nano. A single tx in CLO is confirmed between 3-15 seconds. Avg right now 12.84 seconds.
I am not sure what the plan is about Bitcoin around the payment system. However, Lightning Network is not being used enough; the second layer is the solution for now.
However, people look more BTC as “store of value” is a bit incompatible with the original whitepaper from Satoshi Nakamoto where he/she/they talk(s) about “A peer-to-peer cash electronic system”. IHMO if we follow BTC as “store of value” so we will not be able to become BTC as a suitable payment system for everything, ok, you could buy a house with Bitcoin, because the kind of transaction allows be slow. A bit expensive, but buy things under $200 could be hard to do in the near future.
I tested buying some stuff with the lowest tx fee offered by Trezor, and the txs took up to 48 hours to be confirmed.
When is expected to happen the ETH pow-pos migration?
Not sure about it, between this year later or next year early, depending on how Ethereum Foundation coordinates it because it’s the biggest and breaking change. Part of the mining industry depends on part of Ethereum mining. It could kill a lot of pools.
Hi Yohan, recently you tweeted about the increase in website traffic, is the trend still the same?
Continue at the same level, part of the team is making SEO improvement, and we expect more organic visits in the midterm. Tonton became the SEO Master.
– Great news, the new website is an excellent idea, I’m very optimistic about it 😁
Where I can buy clo???
Bitfinex is a good option.
Can I know about white paper, sir?
There you can read the last version of our whitepaper: https://whitepaper.callisto.network/
I am a CLO fan since day 0. Since then, CLO follows a downward trend. The small changes you make will not reverse it. What do you plan to do so that Bulls start looking at the CLO chart, as you mentioned on twitter?
There doesn’t exist so much things to do around scalability and speed right now in a blockchain way.
The solutions have been created, and you could see new projects using Hyperledger from IBM, calling it how a custom solution, but there no a lot of innovation to do. The rally for scalability/speed is done.
Now, the right path is commercial products over blockchain (not only e-commerce), but I also have a couple of products (I will not release the names yet) using CLO, and each product will increase the needed of CLO coins. So, I’m inviting friends to implement CLO in their commercial products. It’s the only way to recover a bull trend or reach better exchange rates. Demand —> Raising price.
Totally agreed. But you said about BULLS. Do you know something special?
Oh, it’s about TA that I’ve read and watched the price in USDT. it’s not a financial advice.
Sure. But as an insider, you know things better than anyone. For this reason, I asked so many times. I don’t hold any CLO, but I would love to see it rise!
I would love to see CLO rise too, any rising from now will put us in gainers in CMC, Coingecko, and different tools like these, good advertising in CLO rising from this level.
Any specific dates for Cold Staking v2?
Not for now, the next event in HF way will be the block reward reduction in block 5900001 around in two months to 129.6 CLO per block.
Pirl a few days ago tweeted this “$clo and $pirl is a real collaboration, we are really happy about that, helping each other, it’s how we become stronger”. But CLO has not announced anything. You have implemented the pirl guard for avoiding 51% attacks. Do you have any other collaboration with PIRL?
I have a good relationship with PIrl CEO, we’re providing to Pirl the Cold staking smart contract, we are planing Telegram products using Pirl and CLO together. They will implement CLO in part of their products.
– That’s good. Pirl is a descent project and would be much higher without the hack.
– Yes, and Pirl’s CEO is a good guy. Send Pirl a greeting by Twitter, CLO loves Pirl.
Africa is still a continent to explorer on the blockchain side; many scam projects circulate does Callisto have a particular vision for Africa?
This is a sad reality about scam projects.
About vision, we are working right now with some guys in Africa countries with French as native language to exchange and use CLO there at least with some retailers. TBH Africa is the biggest opportunity. Everyone looks at China, but China is saturated and has a more significant monopoly, but Africa has good money to exchange and innovation in payment systems.
Apart from becoming a security standard, what is CLO’s vision, in which world do you see us in the future? Sell us your dream so that together we realize it.
Well, the main goal of Callisto is oriented in security standards around the smart-contracts ecosystem. We were born with it.
As the CLO leader, my dream is to watch to CLO in products with a big number of users.
See BTC – BCH – ETH – CLO in payment methods of e-commerce and digital products.
Apart from the two projects that will be revealed in another moment, I am looking to stake real silver with CLO—looking at the legal stuff around it.
Launch a little number of silver coins with CLO design and depend of provider put there addresses.
Have you performed, or do you plan to perform any roadshows to attract serious big investors to the project? If yes, did they have any success?
Yes, I’ve had conversations with VC and angel investors, we have a good option there, however, to get a better term sheet we must have commercial products, for that it’s my focus on it.
Will they buy CLO from the Treasury?
No, the terms are not clear right now. Still, from the treasury will not buy anything, they want shares from some company, products working over CLO should be part of a possible term sheet, with it we could have better options to increase demand and promotion of Callisto Network.
How is the Company related to CLO? Sorry for asking so many questions.
The main component of this product is over Callisto network, with it we could put after investing the logo of CLO in the product and the logo of VC/investors in the CLO network website. And all PR will be around CLO and the product. It’s like Maker and DAI; you connect it with Ethereum always.
Admin: Thank you for attending this AMA Callistonians, unfortunately, time is over.
Thank you @yograterol for your time!
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