Callisto Monthly - September 2022
Welcome to your October issue of Callisto Monthly, a look at what has been happening in the world of Callisto over the last month. This month, we start with…
Soon, you might be able to top up your CLO wallet by hitting an ATM while you’re out and about.
Slovakia-based Bitcoinmat is considering adding CLO to the small, highly curated collection of crypto it offers through its expanding network of cryptocurrency ATMs in Europe. The real benefit here is that such a move would put CLO on a high-visibility pedestal alongside bitcoin, Ethereum, Litecoin, Ripple, Tether, and Dodge. That’s an all-star list of names to be associated with.
A big part of the reason why Bitcoinmat is eyeballing CLO is tied to the ETH Merge, which saw Ethereum mining die away. Bitcoinmat recognizes that ETH mining power will search for new mining sources of mining … which will lead to increased trading and speculation in certain coins.
Bitcoinmat currently operates across Slovakia and the Czech Republic, as well as parts of Greece. It is aiming to spread across the continent, which would put CLO in front of millions of people who might not yet be familiar with it.
Last month’s issue noted that Callisto is aiming to create a new market of highly secure, distributed cloud-computing infrastructure build around masternodes.
One of the first use-cases will see masternodes deployed in the verification of transactions over a cross-chain bridge, an effort to further decentralize that process.
DeFi is proving to be one of the most popular applications on the blockchain writ large. And it will only grow larger as consumers and TradFi increasingly migrate to financial opportunities on the blockchain. Of course, that just means increasing interest from the black-hat crowd always looking to steal from others.
Masternodes step into increase the bridge’s safety, while rewarding masternode operators. The bridge operation is based on a set of smart contracts. It works like this:
- A deposit is made to the bridge's smart contract to transfer a given crypto asset from its native blockchain to a different one.
- The deposited assets are frozen.
- The equivalent assets are created on the destination blockchain.
- The native coins/tokens remain locked into the native chain's smart contract.
- On the other hand, when value is transferred from the destination blockchain to the native blockchain, the related "wrapped" tokens on the destination blockchain are burned, and the native ones are unlocked from the smart contract.
In that operation, Masternodes are critical. They provide the processing power needed to validate the transactions that must be performed.
To launch the service, the first ten profiles in the priority queue as of December 1, 2022, will be whitelisted in the smart contract and therefore will be allowed to run Callisto Network Masternodes. A step-by-step guide will be provided before launch to assist operators in configuring Masternodes.
It’s been roughly a monthly since the Ethereum Merge, and in that time CLO has been trending for all the right reasons.
Miners who lost their ability to mine when ETH moved to proof-of-stake from proof-of-work have been relocating their hash power to other blockchains that still operate on the safer PoW algorithm. Callisto, as one of the most-secure and most-profitable mining destinations, has been a beneficiary of that.
As NewBTC reported, in this post-Merge age, “the best-performing coin seems to be $CLO from Callisto Network. This project has seen a surge in trading volume and hashrate supporting a 30% rally over the past 7 days."
CLO, for instance, has popped up on Whattomine.com as the most-profitable ETHASH coin to mine. The network has rate has jumped above 2 TH/s. And CLO has recently been a top-trending coin on CoinGecko. All are indications that CLO is stepping into the limelight as ETH miners seek greener pastures in which to put their mining rigs to work.
To help miners migrate over to the Callisto Network, we’ve put together a “Miners’ Resources” page to make the transition easy. You can find that here.
While we’re on the topic of mining … not only has CLO emerged as one of the most-profitable coins to mine in this new ETH age, it’s begin picked up by more mining pools.
Just recently, the K1Pool added CLO as a mineable coin and implemented a dual-mining opportunity that allows miners to earn more by mining CLO And Zilliqa (ZIL) simultaneously. You can find out more about that pool here.
Meanwhile, Crazypool has added CLO with a unique feature: Mine CLO and get paid in BTC, BNB, or USDT. It’s a unique way to spreading the risk around—mine one coin but opt to collect in another. It allows miners to be more strategic in choosing what to mine, and how to get paid.
Again, this is more proof that The Merge has been a boon to Callisto because it has amplified CLOs presence and put us in front on millions more eyeballs. That can only be good in the long run.
Prague Art Week concluded in early September and part of the activities included selecting winners for an NFT art contest.
Petr Hajdyla grabbed first place and a prize of 100,000 Czech crown (about $4,100), while Bety Krňanská and Jiří Beran took second and third place with prizes of 50,000 crowns ( about $2,000) and 25,000 crowns (about $1,000) respectively.
In the “expert jury vote” category, Kryštof Brůha, Michal Pustějovský, and Daniel Hanzlík won the top three prizes for 150 000 crowns (about $6,200), 75,000 crowns (about $3,100), and 35,000 crowns (about $1,450) respectively.
In partnership with Artefin Gallery, one of Prague’s leading contemporary art galleries, Callisto auctioned off the winning NFT with all proceeds going to charity. Michal Pustějovský’s “Wrap No. 6,” a 55-second video loop that resembles a magnet moving beneath a plate of metal shavings, was sold for 1.4 million CLO (nearly $10,000).
Going forward, Callisto Network will increasingly aim to become the blockchain of choice art galleries and artists moving into the digital art/NFT space. More to come on that soon.
As any Callistonian knows, Callisto has built an unassailable reputation as a secure and robust blockchain. Now, Callisto is staking that reputation on a new suite of security services for servers, and for both backend and security infrastructure as it related to ransomware decryption.
As noted in last month’s issue, the Callisto security team has developed a way to decrypt certain ransomware by employing a computer’s graphic cards (GPU). The technique allows Callisto to restore 100% of the data on servers using the Windows operating system.
A portion of the proceeds Calllisto earns from ransomware-decryption services will go toward buying and burning CLO and CLOE, which will make both currencies deflationary over time. Moreover, anyone who recommends a ransomware-attack victim to Callisto will collect 5% of the proceeds Callisto earns.
Absolute Wallet has been redesigned to provide blockchain-management that allows users to more easily access their favorite assets quickly.
Now, managing various blockchains through an Absolute Wallet is accomplished in just a few clicks by navigating to "Settings" > "Blockchains > then selecting the networks you want to be displayed. After that, you’re good to go.
And with that, we wrap up the October update. Talk to you again next month.