Analysts believe that the increase recorded a few days ago in the prices of Ethereum Classic is strongly linked to the launch of this new protocol, which to start operating will offer each user of the digital currency the same equivalent balance in CLO tokens, for the moment in which the 5,500,000 block is mined in the ETC network.
At the moment of beginning to operate, Callisto will maintain the records prior to the 5,500,000 block of the ETC network, and from then on it will write its own history. The decision to clone the existing assets up to that moment is due to a decision driven by the developers of CLO, who are believers that the use of smart contracts could be greatly improved in Ethereum Classic.
The CLO team plans to create an official department of intelligent contracts that will be signed by both Callisto and Ethereum Classic, so the cloning of the assets would be considered an extension or improvement for the ETC community.
The launch of Callisto
With the implementation of new systems incorporating smart contracts, new improvements and the inclusion of more suitable protocols, Callisto is expected to achieve its goal without any problem, especially because the main developers emphasize that this new platform brings more opportunities for miners and allows them to run the entire network, adding incentives for the holders of the coins with the help of new protocols that enable reward systems for all members that contribute to the smooth functioning of the network.
Thanks to the present expectation among the members of the ETC community due to the announcements linked to Callisto, Ethereum Classic experienced a very pronounced growth in the market during the last days. This behavior is seen frequently every time a coin goes through a renewal phase, as its price begins to rise suddenly.
Ethereum Classic managed to capture the attention of many investors since February 6, at which time the increase in prices started, since it was trading slightly above USD $ 13. Currently its value has doubled (USD $ 29), but a couple of weeks ago the digital currency recorded its highest value in its history, registering a price slightly higher than USD $ 44.
Although its price at the moment has been reduced, many industry experts recommend being vigilant, because if everything goes well in relation to the launch of Callisto, the prices of the cryptocurrency may increase again, exceeding even the maximum registered for the middle of February.
It is expected that Callisto (which has the name of one of the satellites of the planet Jupiter) is officially launched today, so we just have to wait and see the impact this will have on the ecosystem of digital currency and markets.