I recently had the opportunity to interview Skippy Brussels of Caelum, a project I was referred to by CryptoTwitter in comment to my Hobbit Nodes posts. This is a new cryptocurrency project with an active following. But who and what is this masternode project? Read on to find out!
- Twitter : @CaelumSCI59
- Website : CaelumProject.io
- Telegram: t.me/caelumofficial
- Discord: discord.gg/JuHeYGJ
- Interview with : Steve@caelumproject.io
- Personal twitter: @Skippy_brussels
Who is Caelum? What does Caelum do? Why does Caelum exist?
Caelum is an ERC20 PoW/Masternode hybrid token. The name Caelum is derived from the Caelum Supercluster, the largest collection of galaxies known today.
In the cryptocurrency sphere, Caelum is the token used across a series of projects under the all encompassing umbrella that is “Caelum Project”. Caelum Project is a community focused cryptocurrency built on the Ethereum blockchain. The project is lead by Skippy Brussels with the support of the Caelum Community members. Caelum Project’s existence is driven by a desire to improve the cryptocurrency scene we know today and keep innovating to help increase mass adoption.
The crypto industry is plagued by thousands of copy-paste works which add nothing to the overall cryptocurrency scene. Many projects out today, seek to solely create profit, revenue or financial benefits for their holders. This is not the main priority for Caelum.
“Caelum aims to stand out from the crowd, as an innovator and significant contributor to improving the overall image of cryptocurrency.”
The Caelum Token will have multiple use-cases. At this point of development, we have already created the world’s first hybrid ERC20 token with both proof of mining distribution and masternode rewards. The second milestone for Caelum Project will be the integration of the first project, in the under-served niche market that i’m best known for: Digital asset storage and inheritance solutions.
It has proven to be extremely difficult to find a working, truly decentralized, solution for digital inheritance. At the time I started development of Caelum Project (07/2017) there were no competitors in this space. Since then a couple of projects have made attempts to enter this area, but so far, have had little success.
First we had MyWish project, but have evolved and have now created a set of smart contract inspired products, but lacks any form of digital assets storage solution. The second was Digipulse. This is the project that I am best known for.
Following discussions with their team, I was persuaded to join forces and become their primary developer. After a successful alpha stage of the project, things started going downhill due to differences in opinion, between the founders and myself. One of the key issues was that they wanted to integrate more centralised services, which was strange considering that digipulse had been portrayed as a decentralised service. This lack of understanding of the importance of this aspect of the project was not something I approved of and could not support. Shortly after leaving Digipulse, the project launched their final product without any of my code and now simply offer centralised hosting solution on Amazon servers.
There is one final competitor called SafeHaven. SafeHaven’s primary focus was previously digital assets storage and inheritance, but their product quickly shifted away from this and is currently still in ICO phase.
In summary, it would appear that there are no real competitors for the first utility of the Caelum Token at this stage. First mover advantage and my proven expertise in the digital asset storage and inheritance space should ensure that Caelum Tokens first utility is a success and achieves widespread adoption.
Caelum is all about collaboration and supporting the wider cryptocurrency community wherever possible. For example, Caelum Token’s contract code is ready to accept any ERC20 tokens as masternode collateral, if approved in a vote by the masternode holders. This will help to raise attention towards other projects, as well as opening the door for long term collaboration.
What does Caelum look like in 5 years?
Caelum will stay true to its core values. The Caelum Project and community are not looking to generate massive profits overnight, or work from a lavish office building. We believe in cryptocurrency and that money being the sole focus of many projects has taken something away developing actual useful solutions to real world problems.
Our aim to produce fully functional and working code, in our own way, at our own pace, that improves the cryptocurrency world for the better, in any way, shape or form. Apart from donations, Caelum will never seek to raise capital through fundraising. We develop with passion, we want to create, we want to help crypto, we want to improve adoption. Caelum Project is not driven by a desire make us rich.
How is Caelum taking advantage of current market conditions?
A key upside of Caelum is that we launched our token in a bear market. We are one of the few projects unaffected by the fall in value across the wider cryptocurrency market. Tokens are available for anyone to mine through proof of work. This means that there is minimal risk in holding CLM tokens at present. I make no promises, just continuous hard work that creates assurance within our community that they will not lose out.
A positive outcome of my time at Digipulse is that many of our current users have joined the community in the trust that I will deliver on the products due to my proven record and reputation while working with their team. I have been overwhelmed by the support and loyalty, even at these early stages, from our initial community members.
“Caelum Project’s priority is adoption over any market cap rankings.”
How is Caelum focused on fair distribution and decentralized coin supply?
This is the sole purpose of Caelum’s unique token distribution method. The PoW/ Masternode hybrid distribution of ERC20 tokens is an innovative development that really stands out against the alternatives currently available to new cryptocurrency projects.
First we did a test run on the Ropsten chain where the first 100 users would be ‘genesis masternodes’. Basically, they would become a masternode from the start of the contract in return for their loyalty, trust, and electricity spent on testing Caelum Token. In total, we had 8 candidates meeting the requirements to become a genesis masternode. Prior to the launch, a public hangouts meeting was held to discuss various aspects of Caelum Project and finalise anything before the final contract was deployed. After some discussion, it was decided, as a community, that the project should have a 2% premine to pay for campaigns, promotion, exchanges and anything else that arises over time.
Given the fact that every caelum token has to be minted, this was a good move from the community as it would be impossible to offer tokens in exchange for services without a premine. When Caelum launched and the contract was deployed, there was an initial cooldown period of about two weeks. During this time, mining rewards were reduced to 5% of what a full reward would be. This was to ensure that everyone had the time to set up their miners, familiarise themselves with how everything worked and get more people involved involved. It also prevented early miners from gaining an unfair advantage.
At this moment in time, 98% of the current token holders are also masternode holders, meaning that they are locked up in the main contract. Our current statistics indicate that we have 57 masternode holders, and 59 token holders. If you count in the pool contract holding tokens, and the pool payout contract, it may appear that we are at 100% masternode owners, but these statistics also include users with multiple masternodes on the same address.
We expect this number to remain the same, as masternodes will generate more tokens for the masternode holder. Every month, the masternode rewards go up, and mining rewards go down. After approximately 12-14 months, the miners will generate only 2% of new tokens, while the masternodes will create the other 98% of the new tokens. Given these numbers, the mineable supply for the proof of work phase is 7% of the total supply, with the remaining tokens generated by masternode holders. This gives an excellent incentive for users to lock up their tokens and create a masternode.
Beyond being a dividend machine, what does the Caelum masternode do?
Caelum masternodes serve a number of functions. The first is that they are able to cast votes. Every 90 days, a proposal can be made by the owner (us), and it’s up to the community to approve or deny it. This can be a variety of proposals, from accepting a new ERC20 token as collateral, to voting in a ‘team member’ in the smart contract. Within the Caelum Project, masternodes serve an important role on securing the digital asset storage network, as every transaction will need to be approved by a majority of a rotating set of voted masternodes. This is known from other platforms, Steemit is one example.
Another possible function that crossed our minds was to make the first 0xBTC protocol rig rental service, where masternodes could use their status to offer or rent hashing power. Since Caelum is built on 0xBTC, and is fully compatible with the EIP918 standard, this could serve many other projects as well.
Why invest in Caelum?
Caelum Project is meant to build trust and bring peace of mind to token holders. There are no financial requirements to acquire Caelum Tokens, as anyone can simply mine our tokens. Caelum is funded solely by donations and community efforts.
All donations go towards the project, for example Ethereum donations are used to cover the costs of running the mining pool, and the CLM donation address is the pool payout contract. Currently, the only place to trade CLM Tokens is on ForkDelta, but this should hopefully change in the near future as we approach more exchanges for listing.