Callisto Network - blockchain developed by Ethereum Commonwealth

The Ethereum Classic project is expecting serious shocks in the very near future. The reform has already begun – and the symbol of rennovation is Callisto Network. It will be especially interesting to all those who know firsthand about Ethereum Classic. The name of the project was given by the name of one of the most unique planets in the solar system – the satellite of Jupiter. The project is a sidechain, its main task is the development of Ethereum Classic, which will be facilitated by the introduction of “kold-steak” technologies.

So, what is Callisto Network?

Today we will tell you about the decentralized crypto-exchange platform Callisto Network. It is characterized by the presence of open source code, built on go-Ethereum.
The main goal of this project is to effectively stimulate the growth of the classical Etherium (and this applies to both the platform and the community).
Some experts at first mistakenly believe that Callisto is a hard-fork of the usual ETC. In fact, the reality is somewhat different – the project represents a parallel chain (sidechain). Thus, the platormoma offers a much more advanced Ethereum Classic.

Scalability

So, as we have already figured out, the ultimate goal of the project is to create convenient growth conditions for Ethereum Classic. ETC, in fact, has its obvious problems in scalability, like all other crypto currency. The first with similar difficulties at one time faced all the famous bitcoin. Than it ended – simply, the commission and the timing of confirmation of transactions have become so high that few people already this platform is really interested. The creators of the ETC do not want to come to the same consequences and are urgently solving the maturing problems. In general, the introduction of a sidechain is an excellent option for this. So developers will avoid a serious problem – storing all data in one single chain with giant blocks (which can be seen in Bitcoin Cash).

Let’s look at the concept of a sidechain. This term is understood to mean such a type of block, the technical device of which implies a 2-link relationship with the main block, and there is the possibility of direct exchange of assets and their transfer within the system at the established exchange rate. In other words, the sidechain carries whole sets of data and layers of functionality, tied to the chain of parents. The use of the sidecine unloads the main ETC chain, which makes it possible to increase the throughput of the entire system.

Cold staking

One of the most important problems of ETC can be called the lack of tools that could effectively stimulate users to keep cryptonyms. In other words, the token is very difficult to claim the role of saving capital for the vast majority of users. This is indeed a big problem for the crypto currency. Callisto – for the ETC team it is an opportunity to try to implement a “protocol of Cold staking”. The latter is designed to change the rules of the game – the mechanism implies support for the holders of tokens for the fact that they remain on the network.

So, let’s look at the concept of Cold staking. If you give a very general definition of the concept, it will sound something like this – a process created on a smart contract, thanks to which CLO holders can count on the percentage of coin emission if they keep tokens for a long period of time.

Any owner of CLO tokens can become a coldstacker. This will require only the blockchain of some funds on the account of the treasury smart contract. Last by the way was written on Solidity. The long term, which is talked about in this technology starts from one month.

So, although the PoW algorithm will be used in parallel, the steakers will not need to support the entire node (meaning the network node in which the copy of the blocking information is stored) and how to deal with other complexities. Any Cold staker can take a direct part in the development of the detachment – submit interesting proposals and simply participate in the voting.

The remuneration of the cold-stakes is for participation in the management of the network. All necessary payments are made directly from the treasury. For each new blockchain created by Callisto, the project’s treasury receives 10% of the commission. The amount of reward depends on the total number of steakers at any time. In general, more number of steakers – less reward of any of them.

One of the main tasks of сold staking can be called stimulating users to keep coins CLO for a long time period. The status of the CLO coin as a means to accumulate funds is already growing steadily. Will the mechanism of cold-steak handle such tasks? Most likely yes. It is worth noting that this is a very decisive and serious step in the issues of an automated future. Undoubtedly, the positive feature of the project is the abundance of non-standard solutions, an unusual approach to business.

Responsibility for the creation of the platform was assigned to the Dexaran team – this is one of the three team-creators of Ethereum Classic. Also on the account of Dexaran – the creation of Ethereum Commonwealth.
It is important to understand that the Callisto Network is an independent blockchain with a personal genesis block. At the same time, it is integrated with ETC. On the project website there are links to 4 wallets that support Callisto.

Site: https://callisto.network/
Whitepaper: https://drive.google.com/file/d/18NsazbbcMwmas7TIZRbDslIfNCVeLgBY/view

Facebook: https://www.facebook.com/callistonetwork/
Telegram: https://t.me/CallistoNet
Twitter: https://twitter.com/CallistoSupport
Bitcointalk: https://bitcointalk.org/index.php?topic=4490663.0
Reddit: https://www.reddit.com/r/CallistoCrypto/

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Bitcointalk Username: saycryptohello
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