The story of Invictus mining began, as it did for many other mining companies that emerged during the penultimate crypto-currency bull market. The company built its career by operating mining hardware for its clients.In the middle of the bear market, when the crypto fell (in 2019), they noticed many resigning clients who began to sell their mining hardware cheaply and decided to seize the opportunity. It was used for clients' wallets, and we only took a monthly fee. Basically, we provided simple hosting. We started with it quite early. I still remember the time when one server was able to extract a hundred ethers a day, something unthinkable today, recalls the company's founder and co-owner Vladimir Vencalek. His story is a bit like the American dream. He started with assembling mini-kits in his garage, and today he is one of the mining celebrities on the domestic market. Even Invictus is no longer a small company but a business group. The companies associated with the Invictus brand specialize in the service of data centers, their operation, companies providing investment services, and newly established companies focused on developing blockchain applications and their application on the Czech market. There are a total of ten companies.
It will probably go with even greater force if it doesn't work by force
Mathematical models and later practices have shown that cryptocurrency mining behaves like any other infrastructure project, but it is incredibly stable and long-lasting. As the first bet turned out to be almost excellent, the company prepared a new project for an infrastructure data center for more than $15 million. However, as with the current farm, the lease of computing power to miners should be just one of the business pillars. The second will be the rental of computing power for rendering operations or machine learning and artificial intelligence. It often pays more. Today, rendering operations represent major global trends, and their market is growing by more than forty percent year on year.Certain types of performance can be provided a maximum of 300 kilometers from the data center. Otherwise, the full advantage of computing power will be consumed by high latencies," Vencalek explains the reasons why similar projects in our country may make relatively good sense. Surprisingly, the biggest obstacle did not prove to be the finances, but the partner to provide energy and space to the project. The expansion of the original smaller data center into a project worth almost $5 million in Strakonice thus finally fell through. However, the company did not give up, found new premises and investments, and is currently building two similar data centers. They are to be completed in the first half of next year, and together they promise to offer about 500 petaFLOPS (floating point) graphics performance. To make at least a small comparison, for example, the world's second most powerful supercomputer, built by IBM for Oak Ridge National Laboratory in Tennessee three years ago, has a performance of "only" 200 petaFLOPS.
From ether mining to the management of an international cryptocurrency project.
The withdrawal of capital through digital tokens always seems a bit suspicious, and especially people who invested in one of the ICO projects in 2017 and 2018 (financing cryptocurrency projects through the initial supply of coins) have a warning light in their heads. One of the reasons for the non-traditional form of financing was the effort to support the ecosystem of the platform cryptocurrency Callisto Network, on whose blockchain the whole project runs. The Invictus group has invested heavily in its development. Together with foreign funds, it invested about five million dollars in the project. And he plans to invest another ten million dollars in development next year. Where Callisto got married and how Invictus got to it in the first place will turn out to be a separate story. The project was created after one of the biggest hacks in blockchain history. In 2016, a hacker from a smart contract, DAO (Decentralized Autonomous Organization), sent out fifty million dollars of ethers due to a banal mistake.Ethereum subsequently split into two networks, one on which the hack never happened (today's Ethereum), and a network that continued on the original (attacked) chain, creating a cryptocurrency known as Ethereum Classic. Developments on the Ethereum Classic branch have practically stopped, so in 2018 the frustrated part of the community decided to establish their cryptocurrency-focused mainly on security. Callisto was formed.
Own decentralized exchange
Speaking of projects to revive Callisto Network, it would be a shame, not to mention the biggest one so far. We are talking about the decentralized exchange Soy Finance, which recently celebrated the first month of its existence. It reaches relatively interesting volumes for its toddler age. The amount of money locked into the market liquidity in the first fortnight alone exceeded eleven million dollars, and cryptocurrencies are traded daily for hundreds of thousands to millions of dollars. Like the entire network, the exchange is focused mainly on security and easy connection with other blockchains. Otherwise, they are not so different from the classic "DEX" exchanges. Here we find the possibility of exchanging one cryptocurrency for another and providing liquidity, where the owners of cryptocurrencies can collect, or, as the world has seen in decentralized finance, "earning" interest for participating in providing liquidity to the stock market. The exchange also has its own insurance fund, from which it should be possible to cover at least part of any losses caused, for example, by the exchange's hack. So far, it is a bit unique among decentralized stock exchanges.Callisto's story has been a story about an exciting technology buried by missing or misunderstood marketing and too little networking. Will it be possibleto change this under the leadership of the Invictus group? There is little competition in the ecosystem of cryptocurrency platforms. Author: Karel Wolf.Read this article on Forbes Czechia
About Callisto Network
Callisto Network is an Ethereum-based blockchain with its own coin, CLO. Our main objective is to improve the security of the blockchain ecosystem. Since 2018, we have contributed to improving Ethereum, Ethereum Classic and EOS and have conducted over 350 smart contract audits, making us the leader of the crypto-security industry.
Stay connected: