Callisto Network is a blockchain platform based on the Ethereum protocol with it’s own cryptocurrency CLO, developed by Ethereum Commonwealth, one of three ETC development teams.
Callisto Network aims to boost ecosystem security by improving the methods for developing smart contracts and to implement experimental protocols. These protocols combine core features within smart contracts with merged protocol-level configuration. Callisto Network is designed so it is possible to use built-in mechanisms like smart contracts to implement key features of the platform. Additionally, the Callisto Network hopes to define as well as standardize the protocol used for reference implementation with a governance system, built-in cold staking, and a funding mechanism for development, all based on smart contracts.
The main goal of the network is to create a well-researched reference implementation of a blockchain ecosystem as well as a self-funded, self-governed, and self-sustaining development environment.
Smart Contract Ecosystem Security
To address the issues related to smart contract ecosystem security, Callisto will introduce an “Official” department for auditing smart contracts within the Ethereum Commonwealth. The auditors of smart contracts will receive payment at the protocol level in an analog of the smart contract treasury. Smart contract developers will receive the auditing completely free because of this method of paying auditors. Everyone can submit these auditing requests, and because the funds come from the Callisto Network treasury funds, the auditing system should improve the security of the ETC ecosystem. There is more detailed information regarding the auditing process, including the registry and rewards, in the Callisto Network whitepaper.
How Does Callisto Address Scalability?
Another issue that Callisto tackles is scalability, specifically that of ETC networks and, by extension, CLO networks. The team behind Callisto recognizes that it would be time consuming and wasteful to invent their own mechanisms for relaying transactions and implementing sidechains. Instead, they are looking toward the crosschain-relation mechanisms found on third-generation blockchains, like AION and EOS.io. In other words, Callisto will enhance the scalability of both ETC and CLO using mechanics that already exist and have proven themselves to be effective instead of reinventing the wheel.
Why Does Callisto Create New Enhancements on the Protocol Level?
The ETC community is very conservative overall, which is why Callisto will make protocol-level enhancements. Certain improvements to ETC will come from the CLO network, whether the other ETC development teams accept them. Examples include the on-chain governance system and the cold staking protocol.
Cold Staking
A problem faced with Ethereum Classic is the fact that their is no incentive for users to hold their coins. Callisto will introduce “Cold Staking” to solve this which is a process of rewarding users with interest based on their holdings of the CLO token. This will work by users adding their tokens into a smart contract for a minimum period of one month, their is no other requirement such as running a node, such as required by Masternode coins.
Callisto Airdrop
At block 5.5 million of the ETC network, there was a snapshot of Ethereum Classic’s blockchain which happened on March 5th 2018. Every address with ETC in its balance at this block will receive the Callisto token, CLO, in a ratio of 1:1. Following this snapshot of the ETC balances, the Callisto Testnet 2.0 will launch, not the mainnet.
Those who want to participate in the Callisto airdrop are encouraged to withdraw their ETC from exchanges to guarantee that they receive it. Callisto will be supported by Classic Ether Wallet following the launch of the mainnet, making this one option for holding your ETC until the airdrop. Technically speaking, all exchanges will receive their CLO when the mainnet launches. Exchanges should have two options, the ability to support Callisto and then grant it to users plus the ability to hold Callisto for themselves.
Callisto Network Wallets
Several wallets support the Callisto Network. These include Classic Ether Wallet, Trust Wallet App, Guarda Wallet, and Coinomi Wallet. Additionally, you can check if a wallet is compatible with Callisto by seeing if it lets you export your account. Just keep in mind that compatibility does not ensure that the wallet in question will provide support for Callisto. However, you can export your account for any compatible wallet and then use the account with one of the wallets that do support the Callisto Network.
CLO Coin
The Callisto currency CLO is already listed on Stocks.exchange, BiteBTC, SimpleSwap, OOOBTC, EXRATES.
The team is in contact with a number of other larger exchanges and awaiting responses so this list should grow over time.
Mining Pools
Since you can mine Callisto tokens just like you would ETC, there are multiple pools that support Callisto. The list currently includes 14 pools: clopool.pro, coinfoundry.org, epool.io, 2miners.com, callisto-pool.com, callistopool.org, callistopool.io, mole-pool.net, solopool.org, clona.ru, clopool.net, minerpool.net, clo.pool.sexy, and comining.io.
Callisto Block Explorers
Those interested in the technical side of Callisto can view block explorers at explorer.callisto.network, callistoexplorer.com, or cloexplorer.org.
Callisto Statistics
Callisto maintains an active link to a page with up-to-date statistics on its homepage. At the time of writing, the Callisto Network Stats page indicated the best block was #462,635, with zero current uncles, an average block time of 13.46 seconds, an average network hash rate of 2 TH/s, and a difficulty of 25.63 TH. Also at the time of writing, the gas price was 21 gwei with a gas limit of 4712388 gas, 18/18 active nodes, uptime of 100 percent, and page latency of 135 ms. Some of these figures fluctuate second to second, while others remain more or less stable. You can also view graphical representations of some of these figures over time.
Callisto has two planned hard forks, the first of which will be Nov. 11, 2018, and allows for the cold staking protocol. The second is planned for a year later with the option for a delay, and it allows for a governance system.
Conclusion
The Callisto Network is based on the Ethereum protocol and developed by Ethereum Commonwealth, a development team for ETC. With Callisto Network, Ethereum Commonwealth aims to address some of the issues related to the Ethereum Classic, such as the scalability and security of smart-contract ecosystems.
The Cold staking, is excellent addition to the platform and should encourage investment and holding of the CLO network token.
