I first heard about Callisto Network as fast developing cryptocurrency from my acquaintance, I got interested in this information studied it carefully and now I want to tell you some of the features of it.
Cryptocurrency is a very convenient asset to work as to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. In my opinion, crypto-currency is especially demanded nowadays and that's why it significantly increased in the last few years. There are some kinds of cryptocurrency at the time being and Ethereum one of its kinds. Callisto Network is researched and designed project of Ethereum Commonwealth, which has developed a reference implementation of a self-sustained, self-governed, self-funded blockchain ecosystem. It also improves the security of the ecosystem of the crypto industry by improving smart-contract development methods and environment.
THE AIMS OF CALLISTO NETWORK
Callisto Network has one more aim such as the implementation of experimental protocols, which are a combination of core features implemented in smart-contracts and merged protocol-level configuration. The Initial aim of Callisto Network is to enhance the security of the entire crypto industry and smart-contract development platforms and the next one is to boost the growth and adoption of Ethereum Classic as a community and as a platform.
Therefore, we have the following important goals:
● Improve the security level of crypto industry and smart-contract development
platforms with an official auditing team and secure contracts registry.
● Research, define and develop the reference implementation of cold staking
protocol, built-in governance system, and self-funding mechanism.
● Research experimental possibilities of scaling and cross-chain interaction.
WHAT'S CALLISTO NETWORK?
Callisto Network has its own cryptocurrency called 'CLO' based on go-Ethereum source code. Callisto has aims and to achieve them it will rely on a built-in system of smart-contracts. Ethereum smart contracts have some problems which Callisto Network is intended to solve for CLO & ETC ecosystems with an "Official Smart-contract Auditing Department of CLO & ETC" which in its turn will give a free opportunity for a skilled smart contract developer to audit their smart contract. Each progressive blockchain is the protocol update that needs Blockchain Hard-fork. Hard-forking is a stressful process for mining pools, exchanges, and other network participants. Callisto Network seeks to mitigate hard-forking with establishing 2 planned hard-forking dates: 11 November 2018 and 11 November 2019. Each protocol update should only be performed on one of these days. This approach allows each member of the network to know about upcoming updates and to prepare in advance. If the specific protocol update code is not ready to implement at the time of the planned hard-forking date, then it should be delayed until the next one.
The upcoming hard fork number one(11 November 2018) will enable the cold staking protocol.10% of the total volume of CLO emissions will be deposited into the staking contract which will let early cold stakers get an initial reward as if they were staking during the initial stage.The earliest stakers will be offered the highest reward. Total treasury fee at this stage is 30% which includes:
● Development funding: 10%
● Cold staking allocation: 20%
The upcoming hard fork number two (11 November 2019 - this may be delayed) enables a governance system. It means that cold stakers will have an opportunity to participate both in proposal submitting and proposal voting. In case cold stakers development approve a development proposal voting will receive funding. Total treasury fee at this stage is 30% which includes:
● Treasury allocation: 10%
● Cold staking allocation: 20% Callisto cold staking protocol
Technical details:
● ROI: Dynamic. Depends on the amount of CLO that is engaged in cold
staking at the moment of reward claiming.
● Minimal amount: No minimal threshold.
● Minimal delay between claims: 172,800 blocks
● Staking time: 1-12 months
● Reward claiming: Manual. A user have to execute a transaction to claim the reward.
● POW Algo: Dagger Hashimoto (Ethash)
● Block interval: ~15sec
● Block reward: 600 CLO (30% treasury fee)
● 100% compatible with Ethereum Virtual Machine
● The maximum supply: 6,500,000,000 CLO.
● Block reward reduction: 32% each 5,000,000 blocks
Roadmap
December 2017
● Launch the test network with the current Golang Ethereum client -Byzantium
compatible- (done).
● Create a public infrastructure for developers (completed).
● Update Classic Ether Wallet with Callisto network support (completed).
Q1 2018
● Update ClassicMask with Callisto Network
● Snapshot of Ethereum Classic for CLO airdrop 1:1
● Launch Testnet 2.0
● Research the POS and DPOS protocol implementation possibility.
Q2 2018
● Launch CLO Mainnet (Est. 15 April 2018)
● DexNS support for the Callisto protocol
● Marketing team creation
● Launch mainnet block explorer and testnet explorer.
Q3 2018
● Formation of the Security Department of Callisto (Solidity)
Q4 2018
● Planned Hardfork No. 1: Cold staking implementation
● eWASM implementation research
● Formation of the Security Department of Callisto (EOS)
Q1 2019
● Decentralized File Storage research and reference implementation
● Interchain operability research
Q3 2019
● Security DAO Codex release
● Cold Staker's Codex release
Q4 2019
● Planned Hardfork No. 2: On-chain governance system
Currently listed on exchanges:
Stocks exchange
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Forthcoming exchanges..
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