Callisto Network is a decentralized open source cryptographic platform based on the go-Ethereum source code, with its own cryptocurrency (CLO). Contrary to popular belief, Callisto Network is not a hardfork of the Ethereum Classic blockchain, but the side chain, that is, a chain that will develop in parallel and will allow the main blockchain to be unloaded. Also, new technical solutions that in the future can be applied to the main blockchain can be tested on it.
The issue of Callisto is limited to 6,500,000,000 coins. After separation from Ethereum Classic on the 5500000block (presumably on March 5) new blocks will be formed every 15 seconds. The reward for each block will be 600 CLO. The new blockchain will support all protocols and smart contracts of Ethereum and Ethereum Classic blockchains.
U/Dexeran, the leader of the Ethereum Commonwealth (one of the three development teams of ETC), is the developer of Callisto. The goal of the project is to develop the Ethereum Classic blockchain and to solve its problems.
One of the main problems of Ethereum Classic is scalability. The side chain will carry its own datasets and functional capabilities, linked to the parent's blockchain. Thus, it will be possible to increase the capacity of the ETC blockchain.
Also, Callisto Network must solve the problem of lack of motivation for holders to keep ETC coins. In the Callisto blockchain, there will be experiments with the "cold stake" protocol, which rewards coin holders for being part of the network.
Callisto Network (CLO) Price Online From CoinMarketCap
In other words, the CLO owners will receive interest from the total CLO issue if they keep coins in their possession for a certain period of time. The balance will be 10% of the coins from each block. To obtain a reward, holders do not need to run nodes or participate in mining. Each participant of the protocol will be able to participate in the management of the blockchain, voting on urgent questions and giving their suggestions.
If the experiment is successful, the implementation of this protocol in Ethereum Classic will increase its attractiveness for investors.
Another pilot initiative is the free audit department of smart contracts to protect ETC and Callisto Network (CLO) ecosystems.
In 2018, the project's road map provides the release of its own wallet, as well as the hard fork on November 11, 2018, with the "cold stake" protocol. The next network hard fork is planned for May 5, 2019.
If some of the software is not ready at the time of the planned hard fork, its launch will be transferred into the update package for the next hard fork.