Thanks to PirlGuard, Callisto is protected against 51% attacks
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Last updated
PirlGuard – 51% Attack Protection
Among the consensus mechanisms, Proof of Work is undeniably the most secure. The networks with the largest capitalization, Bitcoin and Ethereum, are also the most secure thanks to the Proof of Work consensus. However, even though the Proof of Work consensus is the most secure, one vulnerability could arise: 51% attacks.
PirlGuard is a modified Proof of Work consensus algorithm inspired by the Horizen penalty system that protects the blockchain from virtually all 51% attacks. To protect the blockchain, PirlGuard penalizes any unreviewed nodes that attempt to pair with network nodes. It does this by convicting uninterested people for mining a defined amount of penalty blocks. This security measure greatly reduces the chance of a successful attack to about 0.03%.
On March 28, 2019, PirlGuard protection was successfully activated on the Callisto Network on block number 2,135,000. To ensure a successful implementation, several tests were conducted with our partners, Stex, HitBTC, Epool, MaxhashPool and CLOPool during the implementation. Thanks to PirlGuard, Callisto is protected against 51% attacks, no successful attacks have been reported since implementation. Meanwhile, several Proof of Work blockchains that have been hit by 51% attacks, including Bitcoin Gold, Bitcoin SV, and Ethereum Classic, have suffered multiple attacks, causing $9 million in losses in 2020 alone.
Callisto Network is a cryptocurrency launched in 2018. Users can generate CLO through mining. Callisto Network has a current supply of 3,104,773,221.
What is Callisto Network?
Callisto Network (CLO) coin is an Ethereum Classic sidechain named after one of the moons of Jupiter. Callisto's main goals are to increase the scalability of the Ethereum Classic network and introduce the cold-Sidechain protocol. Sidechain is “a separate blockchain that has two-way communication with the main blockchain with the ability to directly exchange assets and convert them into a common system with a fixed, deterministic exchange rate.” sidechains carry their own data sets and functions tied to the parent chain. The use of sidechains reduces the load on the main ETC blockchain and increases the overall system throughput.
Callisto Network is a Layer 1 Ethereum compatible smart contract solution based on a proof-of-work blockchain. Powered by the native cryptocurrency CLO, the Callisto Network is fast, secure, allows low-cost transactions, and is protected against 51% attacks. Since its launch by the developers of the Ethereum Commonwealth (Ethereum Classic), Callisto Network has made numerous contributions to improve Ethereum, Ethereum Classic, EOS and audited more than 400 smart contracts, set up the team This is the leader in the cryptocurrency security industry. Calliso Network has also initiated a proof of safety program, designed to highlight projects with highly secure smart contracts.
Calliso Network has also initiated the Proof of Safety program
Explore Callisto Network
Callisto Network was founded as a public blockchain protocol with the initial goal of researching and developing experimental features. These features are intended to enhance and strengthen the long-term sustainability of the network and its components, including decentralized third-party applications (DAPPs).
Callisto Network is an EVM-based chain, which implies that it supports the execution of smart contracts written in Solidity, making it fully compatible with Ethereum, the leading smart contract platform. As such, it is also compatible with any EVM-based chain, with the best known being Binance Smart Chain, Polygon, and Avalanche. As a result, all smart contracts and DAPPs developed for these chains can be easily migrated to the Callisto Network without code changes, to take advantage of significantly lower transaction fees and higher security standards.
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Callisto Network is based on the Proof of Work (PoW) consensus mechanism, which is considered by many to be the most secure solution. Although many alternatives have been proposed over the past decade, such as Proof of Stake (PoS) consensus, PoW remains the most reliable solution thanks to its proven technology.With this in mind, Calliso Network is dedicated to improving the PoW consensus mechanism by designing and implementing unique features, including the Nakamoto Consensus Amendment and Dynamic Pricing. In addition, a dynamic monetary policy approach means that the Callisto network platform will offer the lowest transaction costs in the industry, and combined with Cold Security will enable the Callisto Network (CLO) coin. become a store of value.
In this direction, Calliso Network is conducting extensive research to further reduce the power consumption of the protocol, while increasing network speed without any security compromise.
Explore Callisto Network
Introduce
A cryptocurrency is a digital currency in a decentralized system that uses cryptography instead of a centralized authority to verify and record transactions. In such a system, the creation of additional units is controlled at the protocol level. In contrast to fiat money, cryptocurrencies are monitored and controlled by a peer-to-peer network, with all transactions recorded in a secure transaction ledger known as the Blockchain.
The first decentralized cryptocurrency created was Bitcoin in 2009. Since then, the world of cryptocurrency has grown exponentially. A few years later, in July 2015, Ethereum was launched as a decentralized application execution environment capable of storing programs on the blockchain and executing them whenever predetermined criteria were met. . This innovation has made Ethereum one of the most used crypto projects and it has grown into the second largest cryptocurrency by market capitalization. Smart contracts have become the industry standard, and almost all blockchain projects developed after 2018 support smart contracts in one way or another. Ethereum adoption has increased dramatically and has been accompanied by a significant increase in the number of DAPPs or decentralized applications. Since their introduction, interest in DAPPs has steadily increased, showing interest among developers and users. From under 100 DAPPs in 2015 to almost 3000 today, while another 4,000 Dapps are in development at the time of writing. Demand for Dapps, regardless of market cycles, tends to reach new heights during bull markets and remain stable thereafter.
Callisto Network follows the same basic approach by increasing the number of “use cases”. It is also based on a deflationary monetary policy designed to reduce the number of CLO coins in circulation during times of high network usage, which is a necessary prerequisite for achieving a substantial increase in value. Thus, similar to Bitcoin, Callisto Coin (CLO) can also be considered a “store of value” currency.
Callisto Network follows the same basic approach by increasing the number of “use cases”Right from the beginning of the project, the developed DAPPs have received the attention of the community, of which the Cold Staking smart contract is the most successful and known. Currently, the Cold Staking contract collects 40% of all mining rewards and distributes it to cold-stake companies in direct proportion to their stake. In other words, coolers earn passive income by freezing their money; so it's a safer and eco-friendly way to earn passive income in crypto. The main limiting factor to the widespread adoption of DAPPs is clear: Security.
As programs, smart contracts are just as prone to bugs and errors as any other software. And with their growing popularity, the potential risk to users increases as quickly as the number of hacks. The most famous example of a DAPP security flaw is the TheDAO hack. In June 2016, users exploited a vulnerability in TheDAO and transferred 33% of TheDAO funds to a subsidiary account. The community controversially decided to hard fork the Ethereum blockchain to restore funds to the original contract. This decision split the Ethereum blockchain into two forks – Ethereum and Ethereum Classic.
As organizations increasingly accept smart contracts, the amount of money stored in these contracts will continue to grow exponentially. Risk means possible financial losses to the participants and users of any particular cryptocurrency platform. In recent months, the rapid rise of DeFi platforms has gone hand in hand with the number of hacks, leading to a sharp increase. Taking a closer look at the data, it is clear that most of the monitoring related to the DeFi protocol is due to coding errors. A security check will prevent hacking in most cases.
Callisto Network has quickly made a name for itself in the world of cybersecurity, having tested more than 400 smart contracts, including many famous projects such as,,,, and So far, none of them have contracted. Information intelligence checked by Callisto Network has been hacked. In addition to security testing, Callisto Network has directly contributed to a number of large projects, insurance and, the expertise of Callisto Network's security team.
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Security issue
While innovation is important, security is the most important factor in the adoption of any blockchain. As we have seen in many projects, and most recently in the case of Poly Network Hack where $612 million was stolen, without security a blockchain dies and innovation becomes irrelevant. fit.
With this in mind, we approach all aspects of the product starting with a “security priority” mindset and that starts with the Callisto Network PoW consensus.
PoW consensus, or Proof-of-Work, is the most secure decentralized consensus mechanism, although as with all technologies, it has its benefits and drawbacks.
In the context of projects increasingly adopting PoS (Proof-of-Stake) consensus, the number of flaws associated with PoS-based projects is exploding. Therefore, we believe that the current implementation is not secure enough and it will take some time for this technology to mature. Here's why we've worked hard to address the shortfalls commonly associated with PoW architectures:
It's so expensive. (Solved)
It consumes too much electricity. (Solved)
Its transaction speed per second is too slow. (In process)
Our Proof of Work vision is not limited to these three areas. Furthermore, we described our plans to improve the blockchain base layer in the publication “Callisto Network Vision”.
Our Proof of Work vision is not limited to three areasIn 2016 alone, over $10 million was lost on Ethereum due to a well-known vulnerability. Since then, the number of tokens lost due to vulnerabilities in the ERC20 token standard has increased continuously. Every day, users deposit their tokens directly into the smart contract by mistake, thus losing them forever.
In this context and to solve these problems, Calliso Network has designed its own token standards – ERC-223 and CallistoNFT standards. The widely used ERC721 NFT standard is based on a transaction model. ERC223, but we have further enhanced its approach and extended its functionality with the CallistoNFT standard. The addition of several built-in features eliminates the need for third parties and empowers users, as financial freedom is the essence of blockchain. The main advantages of the CallistoNFT and ERC-223 standards:
Integrated Trading: Buy, sell or bid on NFT without relying on third-party marketplaces.
Integrated data: NFT specifications are standardized and stored on-chain without relying on third-party websites.
User-generated data: User-generated content is attached via built-in data without IPFS binding.
Integrated Monetization: Creators can keep control of their intellectual property and continuously earn fees from transactions.
Upgradability: Unlike the ERC721 standard, which primarily stores data on IPFS, CallistoNFT allows data to be updated (when this option is enabled at the time of NFT deployment.
Communication Model: Prevent accidental loss of tokens for greater security.
Monetary Policy
In contrast to the static block reward emission, which is followed by the majority of cryptocurrencies, the Callisto Network has designed a dynamic monetary policy with a fixed reward per block that diminishes over time. These rewards will be divided among:
Miners
Cold Strikers
Treasury Fund
Miners receive the highest percentage (60%) of each block reward.
Miners get the highest percentage (60%) of each block rewardCold Staking, a core smart contract in the Callisto network, will receive 30% of the block reward and at an APR expected to exceed 5%. We believe that provides incentives for users to trust this passive income mechanism in the long term. Finally, the remaining 10% from the block reward is allocated to the Treasury , for a double purpose:
Ensure the continuous development of the project.
Provides coverage for audited tokens.
In addition, a burning mechanism will be implemented to burn coins based on current network usage. Therefore, the more blockchain is used, the higher the burn rate and the lower the circulating amount, effectively rewarding users and holders. To do so, the write mechanism introduces a minimal, fixed fee that will burn CLO coins with each transaction made while ensuring very low transaction costs. Therefore, the more transactions on the network, the more coins will burn. This can lead to high deflation (more tokens are burned than newly minted) during high usage, which will further increase the value of coins in circulation
Main features of Calliso Netwok
Callisto Network is a proof-of-work blockchain with a focus on security. Building on top of the native cryptocurrency (CLO), Callisto is a layer 1 smart contract solution that offers a unique set of features.
Security is the real catalyst for the adoption of any technology. With this in mind, Calliso Network established the Callisto Security Division, a group of decentralized auditors.
One of the unique features of Callisto Network is the ability to earn a monthly passive income simply by holding CLO coins.
How to exploit Callisto Network
Callisto Network is mined by analogy with the same process on the Ethereum network. Cryptocurrency founders keep the Dagger-Hashimoto principle and the POW concept. Callisto Network provides the ability to provide computing power to the system to ensure its security and operation. Miners receive rewards for confirming transactions. To mine CLO, you need a powerful processor and graphics processor, and download and install the appropriate program (Example: Claymore's Dual Miner or Phoenix Miner. For efficient operation, memory memory is required. Graphics processor must be at least 3 GB.Room-House.com SkyPirl Pirl Rumhaus
