This is a translation of Callisto Russian community AMA.
Hello Callisto Network community.
Good evening, what prospects do you see for Callisto in the near future? Why is Callisto lowering its position at CoinMarketCap each day?
First, we plan to finish the development of the decentralized governance system and provide all the necessary tools to enable the community to participate in the process of decision making. Currently no one of the crypto- projects has an absolutely effective governance model.
Then we plan to proceed with scalability solutions.
As for the current price I’m not planning to give any financial advices and everything I could tell you is my subjective opinion.
Hello, Dexaran! I’m glad to welcome you in russian channel.
1) I’ve heard that it is planned to switch to EOS base. Is it true? Any ETA?
Yes it’s true. It’s at the planning stage now. We don’t have a ready-to-go solution yet.
2) What the team is currently doing? (You, Yohan, Carlos)
I’m involved into EOS research and a final adjustment of the governance system. Recently we have submitted the contracts for an official audit. The governance system contract is fine, but the Cold Staking v2 requires some fixes. One cannot work without the other.
Yohan and Carlos are working on the governance system UI. This is the highest priority task for us at the moment.
3) At the last AMA the marketer told us that the marketing is stopped. Is it so?
C3 is now responsible for marketing.
4) Do you expect an “alt season” in 2019-early 2020?
No one knows for sure, but it is very likely to happen.
5) How do you evaluate the work of Alejo?
It’s hard to evaluate his work because he was only here during the bearish market phase.
6) You have an agreement with C3 currently. This organization does not have truly successful projects in its portfolio. Do you think that they are capable of handling Callisto marketing?
I think they can handle it better than no marketing at all. Anyways we will work with what we have now.
7) C3 promised to publish reports every Friday. However, this did not happen either last Friday or this Friday. Are you aware of this?
Can you forward their promises to me? I’m not working with them closely. I’m just warning them about the upcoming events from my side.
8) Yohan is planning to visit the blockchain summit at Malta. What will he do there? Is he a speaker?
You’d better ask Yohan.
9) Are you planning to approach the Asian markets? Huobi is the largest exchange there. Do you plan to get listed at Huobi?
We are evaluating the possibility of getting there, but it’s too early to say something. I don’t want to spread rumors.
10) Thats about audits. It seems that audits do not provide any benefit for CLO. Audited projects do not share the results and they are not paying for our services. Are you planning to make any changes on auditing policy?
Yes. We are going to suspend audits until better situation at the market.
11) Whats up with Binance DEX?
You’d better ask Alejo or Yohan. I’m not involved into any communications and partnerships.
1) Is it possible for CLO to migrate into a more advanced blockchain? (EOS, TON etc. )
2) It was stated that CLO is not an ideal blockchain so some features are not suitable for Callisto. This causes a question: Is is planned to switch into a new blockchain architecture?
- Yes. We are actively researching this. If this were a different market phase, we would have already switched to a newer protocol architecture.
The main issue here is exchange support. We are in danger of being delisted from our current exchanges if we decide to switch or migrate into a new type of protocol right now.
- Yes it is planned. It is not yet decided which exactly protocol we will use, but it is likely that we will be developing a modification of EOS network.
Default EOS has a number of issues that I will describe 2 weeks later.
Good evening Dexaran! Marketer stated that the project does not have enough funds for marketing, promotion and exchange listings. Funding is the main issue he said.
Last year you were paying HitBTC listings from your own pocket. Why don’t you want to invest your own funds to get listed on to a new exchange (with a refund from the treasury, as it was the last time)?
I would say that it is incredibly hard for me to get my funds back (even if I will get refunded from Treasury) because of the low liquidity and extremely large amounts of CLO that I need to sell to get the funds. I would say that I still have not got back what I spent on listings from my own pocket.
Despite the fact that I own half of CLO.
Can Callisto Auditing Department conduct an audit of Ethereum and ProgPow?
I would say no.
We only provide security audits of smart-contracts. Ethereum protocol and ProgPow are not smart-contracts.
Except of complete copy&paste of Ethereum’s code, updates and Cold Staking what did you develop? The team is spending Treasury funds without reporting.
The short answer is: “We did everything what we promised at the start of the project”.
Regarding reports, you can find them on the Callisto blog. I recently wrote some explanations on Reddit. You can also review our open financial report, because everything is crystal clear.
Also, here is what we did:
- Developed, implemented and settled a fully functional system of smart-contract audits paid at protocol level.
- Developed a reference implementation of the above mentioned Cold Staking v2 and the Governance System. This is in debugging stage currently.
- Pirlguard. This is not our own invention but we definitely implemented it and resolved all the attacks that the network struggled.
Do you agree that there will be no altseason until altcoins prove their viability for the fiat world?
I would say no.
What will happen to mining if the Callisto Network will switch to EOS protocol?
There will be no mining. Cold Staking will be the only emission.
If we decide to launch a EOS-like network or a modification of EOS protocol as Callisto mainnet then the emission that is currently allocated to miners will be allocated for Block Producers.
What if the price drops to 1–2 sat? Will you support the network if it will be still functional?
Unfortunately we will not have enough funds to maintain the network if the price will be so low.
Network maintenance is expensive. We have to pay for a number of RPC nodes, blockchain explorer nodes, boot nodes. We are paying for the whole infrastructure including websites, wallets, servers.
The only reason of doing so is that we stated that one of the main goals of the project is to develop a reference implementation of protocols that could be re-used in Ethereum CLassic. All this protocols are developed already:
- Cold Staking: live, operating
- Auditing Department: live, operating
- Governance System: developed, under debugging
We consider that the research and development related to Ethereum-protocol is already finished. Now we could switch to another protocol if necessary and we can definitely do this if the price will drop significantly and we will be unable to upkeep the network. The described solution is to turn CLO into a token on top of a larger network.
For example: turn CLO into a token at EOS mainnet.
Are you now not ready to invest in the development of your own brainchild? I mean for listing on exchanges.
Judging by the latest AMA, 20 BTC would be enough for listing on two top exchanges.
I would say that I’m ready to invest but I’m not ready to sacrifice my own funds.
We are already listed on two large exchanges (HitBTC and Bitfinex). I don’t think that listing at “yet another exchange” will change everything.
What’s wrong with Ethereum protocol? There is nothing but Cold Staking at this layer. Why do you need to switch to a newer protocol architecture?
- It’s slow. 15 tx/s is archaic now.
- Transaction fees. This creates a problem of microtransactions.
- Bad smart-contracts. You can’t build a complex system on Ethereum contracts.
- The Solc proprietary compiler, which needs at least another 20 years of development to bring it into a usable state.
If you have the half of CLO hashrate then you are that miner who is dumping hard, aren’t you?
I was talking about holding a stake of CLO, not the hashrate.
I’m not mining CLO.
How should the new governance system implement the announced concept of a self-sustaining and self-funding system?
The answer should be really large. I wrote an article about it and you can read it. I don’t see any reason to copy&paste the article text here.
When you will be ready to deanonymize yourself and the reason to remain in the shadows? The community’s’ trust in you is not so strong!
The trust in me is based on what I’m doing but not on my biometric characteristics.
How much time do you spend on Callisto Network per week?
I would say 3 to 4 days in average. I’m spending a lot of time in EOS but what I’m doing there is also related to CLO. I’m planning to re-implement a set of its features for CLO.
It’s a bit subjective to call it a time that I’m spending on a certain project because all my activity is related to multiple projects at once.
Is it possible to establish a smart-contract development department at Callisto? May be once we switch to a new network. It’s just obvious from my point of view.
There should be enough work for developers in this case. If we will not have enough workload for developers then there will be no chance to get payments for them and they will leave the projects. So, we have to keep them loaded with work if we want to have smart-contract developers in the project.
The demand on smart-contract development is not that high at the moment.
Recently one of your auditors said that he started to work on a Monopoly game and he is planning to finish it in two months.
Will CLO team support him ($2000) ? Will you welcome such kind of development in CLO?
Most likely we will fund his proposal once the price stabilizes.
Personally I’m not endorsing any smart-contract developers who decided to deploy at CLO, but we do not prohibit doing so. If CLO will have more smart-contract projects then we will be helping them with whatever we can.
If the community votes to update Cold Staking and implement the lottery in the Staking contract, will the Callisto team do it? How much time will it take?
Cold Staking can be upgraded via a hard fork. However it is a complex procedure.
Our governance system does not support the scheme of community members placing tasks for the team. Instead, there will be a pool of proposals and you will be allowed to vote on them to establish funding for the proposals you like.
If there are no parties ready to implement the proposal, then there will be no such proposal or the allocated funds will be spent on random things. However this is the responsibility of Cold Stakers.
How do you evaluate the team work? I’m following you on twitter, github and I understand that you are a passionate programmer. You have programming, mathematics, modeling in there.
As for the other team members I don’t see any activity. Just a lot of empty promises. Everything that is not directly related to your parts is either not done at all or stuck due to the lack of time. There are such examples as blockchain explorer, website, useless listings and partnerships.
Well, how do I evaluate the team work? — I would say “adequately”…
I agree with your statements regarding the explorer, website, etc. We have two founders in a project, we have two budgets that are being spent independently. A certain part of the budget is spent on common expenses.
There is a certain degree of inefficiency and yeah, the explorer failed. So much time passed and nothing is done.
However this is more of a problem with the projects’ management system, i.e. the governance issue. I’ve highlighted this “governance issue” long time ago. This is exactly what I’m trying to resolve with the governance system implementation.
What future do you see for the Callisto? Is it a perfect blockchain or a succesful IT company or something else?
It’s a decentralized community distributed between a number of chains and side-chains. Interchain operability is the future.
Burning electricity is a poor design in our modern reality, right? Is POS the future?
I would say yes.
However, one POS implementation is different from the other.
You have conducted 300 security audits of smart-contracts written by some guys. I think that there are a lot more people willing to have smart-contracts in their business just because it is a mainstream. In other words, would you establish a smart-contract development department if there will be more demand?
Yes, if there will be enough demand to have fulltime developers in a team.
Do someone own private keys of the Cold Staking contract?
I think that you will succeed. “Idiot’s dream” — living on interest will come true only with you, as I understand it. Because if you think about DexNS (which cost about 0.1ETC per year), your project Callisto which initially did not promise anything and was going to conquer the world by simply offering a % of staked deposit, and your statements about the fact that EOS is cool (and the essence is that you have a lot of coins and most of them) makes you a shark in delegated validation.
That is, everything is as usual: the rich are richer, the poor are poorer. You just stole a bunch of coins from you, drag them right now onto the EOS blockchain and there you will stack all the way until it brings denies.
Well, I’ve calculated my incomes and expenses for the last 5 years recently.
I came to the conclusion that the best thing I could do was to buy ETH at the very start of the project (just like I did really) and sit with it doing nothing.
All the projects that I have ever developed made some profit in one way or another. However, the outcome has never been greater than if I would buy ETH at the launch, sit with it and wait for it to reach $800 or $1000 and sell there. (I’m not saying that I could sell at $1500 because it is not a realistic scenario, however I’ve really bought a load of ETH at the start of the project. And I held it to $800 and sold there. It was not the whole funds I had. There were a lot more funds that I invested into development of some projects and it was a wrong option in terms of profitability.)
Unfortunately, sitting and HODLing is more profitable than working and creating things. At least in my case.
We all have seen the roadmap. Are there any “surptises” planned?
At least we have a plan to switch to a newer protocol or implement a sidechain. I’m interested in EOS and I would like to either
- Turn CLO into a token at EOS mainnet
- OR launch a EOS-based sidechain for CLO
- OR launch a new chain based on EOS modification and make it a new CLO mainnet
Do you know Satoshi Nakamoto?
I would say no.
I think that Satoshi Nakamoto was a real person but he died already.
Imagine what would happen if I will die one day — no one knows who I am, no one knows who I was and what happens to me.
Over time, I will either (1) disappear into obscurity, or (2) will turn into a mythical character covered with legends just like Satoshi.
He was the creator of the top cryptocurrency, so he happened to follow the scenario 2.
1) What do you think about ASIC Linzhi? Will they crush the price?
2) Collaboration with EOS, can we get more info on this?
3) How do you plan to increase the demand on CLO?
4) Why don’t you use standard practices of promoting your project?
5) What if big projects like USDT will come into CLO? Will they DDOS the network?
6) Are you investigating the possibility of Oracles implementation on CLO?
7) What about Asian markets? Is it a marketing move or we will see any technical updates from their side?
- The appearance of ASICs never causes the price to crash. It’s likely that the effect will be opposit to what you described.
- I’ve answered it already.
- Cold Staking is a sufficient feature at the right moment of the cycle.
- I’m not responsible for marketing-related questions.
- We are planning to implement scalability solutions with sidechains or a new protocol. Interoperability is the future.
- Not in the current stage of CLO.
- It’s too early to tell. I’m always in favor of technical collaboration but it is mostly depends on their position about our project.
Didn’t you reviewed of what Pavel Durov will release (TON) ? Probably it’s better not to jump from one chain to another.
Yes, I reviewed until I faced an EthereumVM, which I am very familiar with …
Then I’ve closed it and forget about it. There is nothing progressive there.
EthereumVM is just awful decision. It is a very, very bad solution compared to the current alternatives.
I’ve seen that you are satisfied with your own work and disappointment with the work of the marketing department judging by your messages.
Perhaps it’s worth changing the team responsible for marketing, or creating a competition for the best marketing offers and collaborating with them?
It might be worth it, but as I said earlier, it’s hard to evaluate the effectiveness of the marketing team during the bearish market cycle.
Some projects has great marketing but everything is bleeding.
Some projects has bad marketing but everything is bleeding.
Some projects has done a lot of development but everything is bleeding.
Some projects has done nohting but everything is bleeding.
In general, it is difficult to draw conclusions when everything works differently, and there is no clear dependence of the results on work efficiency.
Is it possible for CLO to approach top50?
This is a crypto industry, everything is possible here. Unfortunately, we do not get an adequate assessment of our actions IMMEDIATELY,
but we can only do everything in our power and hope that this is exactly what is needed.
And we can find out what exactly was needed to be done at every moment of time only after all this has already happened and all decisions have already been made a year ago or so.
1. At night, you clearly laid out the hack that happened in EOS.
Did they notice your tweet? Is there any feedback from the EOS developers?
This situation can be used to promote Callisto and audit, especially since you are the founder.
2. Have you participated in hackathons and are you planning to do so? It can also increase the recognition of CLO and you in particular.
Yes, it was a very interesting and creative hack. We do not have the source codes for hacked contracts, and their community is Asian and its hard to collaborate.
1. As for EOS community — I would say that they have noticed. We have a set of versions of what exactly happens. While no one knows exactly what happened, the scenario that I described is just the version of attack which was most likely to happened (here we are talking about this EOSPlay attack).
2. I did not participate in hackatons, but I participated in real hacks. Whitehat or not — I will not say.
Why do you think that listing on an exchange like Binance will not work? Payment are possible with clo coins.
- Exchanges require payments in BTC. CLO payments does not work.
- Binance is likely to lose its positions. I think that Huobi is going to replace it within the next months. As for listing on exchange that will be losing its positions after you are listed there — its just a waste of funds.
Will there be more AMAs in Russian?
To be honest — I do not like Russian language. It is not accurate and it’s hard to formulate thoughts with it so that other people understand exactly what you want to say,
not that they want to hear what you supposedly said.
1. When will we switch to a new protocol like EOS?
2. Do you own almost half of Callisto’s coins? Is this true?
3. Did you bang the DAO?
- It’s not yet decided whether we will do it or not. It’s too early to say something.
- No, I have less.
- Not TheDAO.