[ANN][POW][CLO] Callisto Network - Cold Staking & Security Audits

[lottereumDev]

I tried to set up my rig to mine this coin. on 6 cards 1060 it turns out about 250 coins a day. I consider this a normal indicator, because the price has the potential for growth. As I understand now, 1 coin is worth 2 cents? But the potential is

It's a lot. And on which block will the reward decrease by half? Can you tell me?

what do you use for every transaction of coin?how much the cost?this is big chance for growing of your coin per day if per coin is worth 2 cents.

I asked about something else. I'm wondering on what found block the cost of rewarding miners will decrease.

Every 5 million block, the reward Will reduce 32%

In what year will we reach this "milestone"? I would like to know this date, in order to calculate the investment strategy.

I'll support your question to specialists. I tried to find the answer in the search, but, unfortunately, I did not find anything.

5 000 000 - 597 000 /mined already/=4 403 000 blocks remaining
5760 blocks/day
4 403 000/5760=764 days=25+ months
It is likely that average block time is less than 15s so we can expect in about 24 months for the block 5M to be mined from now on. Then there will be 3 billions of coins mined.

After that there will be 32% reduce of the coins per block which is 408 coins/block.
It will take approx another 24-25 months for the next 2 040 000 000 coins to be mined.

Next stage another 32% reduction of the reward which leads to 277.44 coins/block.
It will take approx another 24-25 months for the next 1 387 200 000 coins to be mined.

For the final stage there will be 72 800 000 coins left which will take 67 days.

 

What's next? All coins will be produced in about 6 years approximately. And how will the network work after that?

The Dev considering fee methode to process transaction. But, they Will work on next 6 year to make decision.

If you know, then explain in more detail. What does "methode" mean? Which method is considered?

[yhendri]

Good evening . Does anyone have any predictions? What do you think, how many CLO will be in December? Will the income depend on this?

A block is formed roughly every 15 seconds and in each block contains 600 CLO.

There are 86400 seconds in a day so:

86400 / 15= 5760

5760*600= 3,456,000

So right now there are 3,456,000 CLO created each day. 20% of that goes to the treasury fund, 10% of that goes to the staking fund.

3,456,000 * 20% = 691,200

3,456,000 * 10% = 345,600

691,200 + 345,600= 1,036,800

2,419,200 Actual CLO are created and distributed to the miners daily besides the CLO reserved for the funding mechanism.

~150 days until December 2018....3,456,000 * 150 = 518,400,000 created until then

518,400,000+456,258,253(current supply) = 974,658,253

So nearly 1 Billion coins in mined by December, around that time they will enable the cold staking mechanism which IMO is the MOST important aspect of this project. It is what makes it unique and sets it apart from others.

Let's speculate that by that time, with a little hype and marketing the market cap of CLO gets to 120 million (~16x what it is now), that would put each CLO at .12c (12x what it is now) and that is if the price of bitcoin stays the same, if bitcoin goes up the price of each CLO could be even more.

Could be a lot of upside with this project.

I think this is a large number. The price will not be very high.

Ripple have more coin than clo, and now the price about 0.5 USD. Clo can reach 3 USD of have same market cap as xrp

[GraBitCoin]

Good evening . Does anyone have any predictions? What do you think, how many CLO will be in December? Will the income depend on this?

A block is formed roughly every 15 seconds and in each block contains 600 CLO.

There are 86400 seconds in a day so:

86400 / 15= 5760

5760*600= 3,456,000

So right now there are 3,456,000 CLO created each day. 20% of that goes to the treasury fund, 10% of that goes to the staking fund.

3,456,000 * 20% = 691,200

3,456,000 * 10% = 345,600

691,200 + 345,600= 1,036,800

2,419,200 Actual CLO are created and distributed to the miners daily besides the CLO reserved for the funding mechanism.

~150 days until December 2018....3,456,000 * 150 = 518,400,000 created until then

518,400,000+456,258,253(current supply) = 974,658,253

So nearly 1 Billion coins in mined by December, around that time they will enable the cold staking mechanism which IMO is the MOST important aspect of this project. It is what makes it unique and sets it apart from others.

Let's speculate that by that time, with a little hype and marketing the market cap of CLO gets to 120 million (~16x what it is now), that would put each CLO at .12c (12x what it is now) and that is if the price of bitcoin stays the same, if bitcoin goes up the price of each CLO could be even more.

Could be a lot of upside with this project.

I think this is a large number. The price will not be very high.

Ripple have more coin than clo, and now the price about 0.5 USD. Clo can reach 3 USD of have same market cap as xrp

Good comparison. I expect such a price after the reduction of the award for miners for the extraction of the block.

[jackielim]

True, the more number of users will store their files, the more CLO will be frozen by the smart contract.
So these CLO for file storage must first be purchased on the exchange.

Quite right. Anyone who wants to hide their personal information in Callisto Network will need to buy a CLO. And to store these data there will be nodes which we will choose through DAO (I so understood).

That is the edge of Callisto, to secure all the information and to avoid hacking. This is also the one of the best features of CLO which you would satisfied with.

[yhendri]

I tried to set up my rig to mine this coin. on 6 cards 1060 it turns out about 250 coins a day. I consider this a normal indicator, because the price has the potential for growth. As I understand now, 1 coin is worth 2 cents? But the potential is

It's a lot. And on which block will the reward decrease by half? Can you tell me?

what do you use for every transaction of coin?how much the cost?this is big chance for growing of your coin per day if per coin is worth 2 cents.

I asked about something else. I'm wondering on what found block the cost of rewarding miners will decrease.

Every 5 million block, the reward Will reduce 32%

In what year will we reach this "milestone"? I would like to know this date, in order to calculate the investment strategy.

I'll support your question to specialists. I tried to find the answer in the search, but, unfortunately, I did not find anything.

5 000 000 - 597 000 /mined already/=4 403 000 blocks remaining
5760 blocks/day
4 403 000/5760=764 days=25+ months
It is likely that average block time is less than 15s so we can expect in about 24 months for the block 5M to be mined from now on. Then there will be 3 billions of coins mined.

After that there will be 32% reduce of the coins per block which is 408 coins/block.
It will take approx another 24-25 months for the next 2 040 000 000 coins to be mined.

Next stage another 32% reduction of the reward which leads to 277.44 coins/block.
It will take approx another 24-25 months for the next 1 387 200 000 coins to be mined.

For the final stage there will be 72 800 000 coins left which will take 67 days.

 

What's next? All coins will be produced in about 6 years approximately. And how will the network work after that?

The Dev considering fee methode to process transaction. But, they Will work on next 6 year to make decision.

If you know, then explain in more detail. What does "methode" mean? Which method is considered?

I do not know the detail yet. Maybe like Neo and Gas, or other methode. That just one option that i know.

[big_daddy]

Can coins for mining be added? The question is purely technical.

You mean to add tokens/coins on CLO network that can be minable? is this what you are asking?

[Socket32]

There are two types of participants in the described organization: Managers
and Auditors.
The main task of a manager is to control and verify the work of the auditors.
The main task of an auditor is to review the code of smart-contracts and
submit reports. Auditors receive karma for reviewing contracts. They also receive penalties for making mistakes. These statistics reflect each auditors results and determines their reward.
Both managers and auditors are paid from Callisto treasury.
The audit process will be managed through GitHub so that it will be
transparent and available to everyone. A smart-contract developer should open an issue to submit his/her smart-contract for auditors to review. At this point the manager will verify the security audit request details and mark the issue as approved. The manager should not mark dummy requests; requests that aim to spam the security audit queue or any requests that do not meet coding standard requirements. These requests will not be processed, and once these are identified and removed, every auditor will start reviewing the code.
An auditor with a contribution in the code review of a certain contract must
create a private gist and send the gist URL to the corresponding issue manager via email. E-mail address of each manager or auditor is transparent and available in the smart-contract of this organization.

[seeMvereDood]

There are two types of participants in the described organization: Managers
and Auditors.
The main task of a manager is to control and verify the work of the auditors.
The main task of an auditor is to review the code of smart-contracts and
submit reports. Auditors receive karma for reviewing contracts. They also receive penalties for making mistakes. These statistics reflect each auditors results and determines their reward.
Both managers and auditors are paid from Callisto treasury.
The audit process will be managed through GitHub so that it will be
transparent and available to everyone. A smart-contract developer should open an issue to submit his/her smart-contract for auditors to review. At this point the manager will verify the security audit request details and mark the issue as approved. The manager should not mark dummy requests; requests that aim to spam the security audit queue or any requests that do not meet coding standard requirements. These requests will not be processed, and once these are identified and removed, every auditor will start reviewing the code.
An auditor with a contribution in the code review of a certain contract must
create a private gist and send the gist URL to the corresponding issue manager via email. E-mail address of each manager or auditor is transparent and available in the smart-contract of this organization.

Where will managers come from? And who will choose the auditors?

[Milikaiin]

Good evening . The CLO price on Yobit is 7 times higher than that of Stocks.Exchange? But I know Yobit does not accept CLO transmission. The CLO price is really low. How many CLO do we need for POS in November ??

[EweCoinEwe]

Do you expect the value of your tokens to increase? I believe that this is an excellent project for investment in the product.

[Name_none]

I have a small question regarding exchanges of clo. What did you use to exchange eth or btc?

This is more a preference for everyone . But personally, I prefer the pair that is currently more liquid at a particular exchange. Ie the daly trading volume is more

[big_daddy]

Good evening . The CLO price on Yobit is 7 times higher than that of Stocks.Exchange? But I know Yobit does not accept CLO transmission. The CLO price is really low. How many CLO do we need for POS in November ??

look at all available prices except Yobit CLO price
you cannot deposit or withdraw CLO on Yobit, so, is an irrelevant price (for the moment)

[brick_noinT]

I do not understand why to sell cheap? There are those who buy at a higher price.

[EweCoinEwe]

I do not understand why to sell cheap? There are those who buy at a higher price.

Project markers can be bought much cheaper. At a time when they go to the stock exchange, not when they are sold by the team.

[Banny_hopyy94]

Good evening . The CLO price on Yobit is 7 times higher than that of Stocks.Exchange? But I know Yobit does not accept CLO transmission. The CLO price is really low. How many CLO do we need for POS in November ??

Yobit is an exchange-casino. The CLOs that are there are not connected to the network.

[cryptojackcoin]

I do not understand why to sell cheap? There are those who buy at a higher price.

Now, on an exchange, miners sell CLO. Members of the bounty also hurry to get a momentary benefit.

[seeMvereDood]

I'm very interested in the cold.
Can I check it out somewhere?

One of the unique features of Callisto is the ability to earn interest on held funds through a process called cold staking. In essence, with cold staking you are lending your funds to the network on a short-term basis and rewarded with Callisto, proportionate to the period of time you stake your funds and the amount of CLO in the reward pool, funded by the Callisto treasury.

https://news.callisto.network/cold-staking-vs-masternodes-whats-the-difference/

[chicipuci]

Good afternoon, there was a question. How do you think the project will be able to get a listing on a major exchange?

And what do you consider the main exchange?)) I think if the RoadMap is implemented, many exchanges will be happy to see CLO. I'm sure!

[Banny_hopyy94]

How will the smart contract audit process go? How and who will audit the auditors themselves? 

[cryptojackcoin]

How will the smart contract audit process go? How and who will audit the auditors themselves? 

Step by step interaction with auditing registry

● A smart-contract developer will need to submit an audit request issue.

● Auditing organization manager verifies the auditing request and will set an approved label.

● Auditor selects the audit request. In most cases 3 code reviewers are sufficient. In the case where a smart-contract system is complex, it may
require more code reviewers.

● Security Manager replaces approved label with an in-progress label. After that,
the issue is still available for picking. Submitting the audit report for this issue
will not affect the "active" status of an auditor. Thus, reviewing the contract
code will still make sense for a beginner to increase "karma" and earning
experience, but we can avoid a situation where the whole team is working on
a single contract with other audit request’s remaining in pending.

● Auditor creates a private gist. Then he/she submits a Keccak-256 hash of the
gist link to the contract by the submit_report function.
Example: The gist link is https://gist.github.com/user/1234abc1234abc. The hash of this gist that needs to be submitted to the contract is
026c43a23ba6a331739fe8d066b9bd1a6eac53982358aa3ff7cb5d0301712d2d.

● Auditors deliver the private gist link (report) to the manager off-chain. An
auditor must not publish the report gist link which is a pre-image of the gist
hash that was submitted to the contract.

● Once the manager has received a link to the private gist, the auditors can
start reviewing the code and reporting findings in their private gists.

● Once all auditors have finished, Manager’s must review and compare all their
reports.

● If one of the auditors has not described and identified vulnerability but others
have identified one, the Manager must assign them a penalty, thereby
increasing the "errors" property of the report.

● Manager signs reports.

● Manager reveals reports. Once reports are revealed the gist links are publicly
accessible so that everyone can observe the work of managers and auditor’s.

● When the audit report is revealed the report author will receive karma
bonuses, error penalties, and active status.