Callisto-Network - The Present And Future Of Blockchain Security

adekogbe (53)in #callisto • 5 years ago (edited)

Introduction

Cryptocurrencies and Smart Contracts

Cryptocurrencies since its innovation in the year 2009 as consistently advanced after some time. Initially Bitcoins were just a decentralized methods for exchanging cash or financial incentive between at least two gatherings. Anyway with the advancement of ethereum and smart contracts, the crypto space has developed in an entirely different dimension with potential and real applications spanning different fields and industries.

A smart contract is a computer convention proposed to carefully encourage, check, or authorize the arrangement or execution of a contract. Smart contracts permit the execution of trustworthy exchanges without the involvement of third parties. These are trackable and irreversible transactions. A blockchain-based smart contract is visible to all users of that blockchain.

Existing Problem

This smart contracts, due to their complexity of design and structure, is subject to situations where bugs, and loop holes exist in the contract, and while this may not be visible from the start, it poses a big security threat to the blockchain, which makes all the transactions, data and funds transmitted through it vulnerable.

Callisto-network is the innovative decentralized platform that gives the answer to the security issue that most crypto projects faces today. with their smart contracts.

What is Callisto Network

Callisto-network is an undertaking based on the ethereum blockchain and it is created for fixing the security issues related with cryptocurrencies and their smart contracts utilized inside the ethereum blockchain and eventually improving the security of the cryptocurrency ecosystem.

Callisto Network is a decentralized, open-source crypto ecosystem including an audit team which perform security audits, addressing the issues with smart contracts used on the ethereum platform. Callisto network would achieve all these by creating a secure environment suitable for development processes.

Callisto has its own local cryptocurrency called the CLO coin.

Developers have in the past paid little attention to auditing of their smart contracts before launch because of the costs associated with the audit processes.

Callisto-network is anyway a free-for-all examining framework, presently engineers can have their smart contracts evaluated before propelling. On most occasions, auditing takes up a mess of time however the time it takes is always be worth it.

In the event that it removes of the likelihood of a losing millions of dollars over the long term; after review, the audit group would be paid with CLO. Evaluating involves the survey of existing smart contract codes to distinguish the territory improvements should be done after which reports are being sent by inspectors

Callisto Network Already Has A Working Platform

The Callisto network is already up and running and the audit teams are already performing security audits on smart contracts of different coins and tokens.

The cryptocurrencies that the callisto has successfully performed an audit on their smart contracts include but is not limited to;

Space ICO, Tubiex, MultiToken, HuntToken, Projecton Token, Crypto-Cards v.2, Binance token (BNB), crypto.com chain, Basic AttentionToken ($BAT), Omise go ($OMG), and a lot more others.

When these audits were completed by the callisto audit team, a report of the smart contracts audit results were then sent the developers in order to rectify the security problems on that smart contract.

Callisto network is progressing and on 15th of April 2019 an announcement was made that the network is now accepting TRON smart contracts for security audits.

This shows a giant step from the platform and its quest to make the cryptocurrency space a safe haven for projects, investors, and users.

Trading On Exchanges

Callisto network coin CLO is already trading on 6 exchanges with different trading pairs at the time of writing this article. This exchanges are: Stex, Sistemkoin, HitBTC, Coinbene, Bitfinex and DOBI exchange.

Conclusion

Callisto Network is the prime example of a crypto project that has been created for a purpose, a project which has a team fully dedicated to acheiving those goals.

Learn more about callisto network and stay uptown date through its official contacts from the links below.