The development team of Ethereum Classic network has announced a separate blockchain known as Callisto. While many are interpreting it as a hard fork of Ethereum Classic, it is NOT!! Callisto is a completely separate blockchain. The reason for the misunderstanding might be the airdrop which is happening for the ETC holders at a 1:1 ratio as it resembles the scenarios in BTC hard fork.
Here is an update from the development team.
“Callisto is a separate blockchain that is based on Ethereum protocol with its own cryptocurrency (CLO)...Callisto introduces a Cold staking protocol that rewards coin holders for being network participants.”
The airdrop details were provided in a previous update which was as follows:
“It was decided to distribute the initial stake of CLO between current ETC holders. We will make a snapshot of ETC blockchain at block 5500000 (approximately 5 March, 2018. This depends on ETC block time and ETC hashrate changes). Then we implement the initial balance of each ETC holder in the Callisto network genesis block, so each ETC owner will receive CLO coins automatically in a 1:1 ratio to the amount of ETC that he had at block 5500000.”
As of the time of writing, we stand here.
The number of blocks mined can be checked here: http://gastracker.io/
