What is Callisto?
Callisto Network is a decentralized open source crypto platform based on the go-Ethereum source code with its own cryptocurrency CLO. The main goal of Callisto is to research and develop a reference implementation of a self-sustaining, self-governed and self-funded blockchain ecosystem and development environment.
How does it work?
Callisto will help improve the scalability of both Ethereum Classic and it’s own network, as well as implement cross-chain service improvements. As a sidechain it will carry it’s own data sets/functionality which is tied into the ETC parent chain. Using a sidechain frees up bandwidth on the main ETC chain. Cold Staking is another core feature of the Callisto protocol that is intended to encourage coin owners to hold CLO coins for a significant period of time, thus increasing the “store of value” property of Callisto.
What is Cold Staking?
Cold staking is a smart contract-based process that allows CLO holders to earn interest in a total CLO emission when they hold CLO coin balances for a long enough period time. Anyone who holds CLO can become a cold staker. All that’s required for this to happen is to lock some funds into a treasury smart contract for a minimum period of one month. Cold stakers are rewarded for being part of the network governance model through a reward from the treasury. The treasury balance is a 10% fee from each Callisto block. The reward amount is dependent on the number of stakers at a given time (the more stakers, the less the reward).
What Callisto aims to solve?
Callisto aims to benefit the security of the ecosystem by improving the smart-contract development methods. The Callisto Network is intended to solve this problem for different blockchains such as ETH - ETC - EOS - ADA ecosystems with an “Official Smart-contract Auditing Department”. This represents a completely free opportunity for a professional smart-contract developer to audit their smart-contract.
What are the features of Callisto?
Free Security Smart-Contract Auditing
Predefined upgrade dates
Reference implementation of future ETC protocol changes