The developers of the Ethereum Commonwealth announced the upcoming launch of the Callisto Network and published its white paper in January this year. Although some mistakenly call it the Ethereum Classic hard fork, Callisto will be a new detachment designed to test experimental protocols and solutions for network scaling and management, using which developers can encourage both miners and cryptocurrency holders.
Free distribution of tokens within the project will be held on March 5; holders of ETC will be able to receive a new CLO cryptocurrency at the ratio of 1-to-1.
About the Project
The Callisto Network is a decentralized, open-source platform based on Ethereum Classic.
The Callisto Network will support the development and facilitate the rapid adaptation of Ethereum Classic not only as a platform but also as a crypto community. The project will be engaged in the research, development, and implementation of a self-sustaining, self-managed, and self-financed blockchain ecosystem for developers in which they will work to implement the protocols of the future.
The Callisto Network will solve one of the key problems that exist in the work of smart contracts on Ethereum, that is the lack of instruments for protecting and ensuring their security. The framework of the project will involve the work of the Official Department of the Smart Contract Audit for CLO and ETC (Official Smart-Contract Auditing Department of CLO & ETC). Also, the cold staking protocol will work in the Callisto network, which will reward CLO holders for participating in the development of the network.
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.
Miners will receive 70% of the emission of tokens, and 30% will be charged by developers in the form of a commission (10% for the development of the project and 20% for cold storage).
A snapshot of the Ethereum Classic blockchain will take place on the 5,500,000 block sometime around March 5. Each ETC holder will automatically receive a CLO cryptocurrency at a ratio of 1-to-1.
Wallets that will support Callisto are ClassicEtherWallet, ClassicMask, and MyEtherWallet.
The developers recommend tracking the project page on GitHub or following the news of exchanges on whether the latter will issue coins to holders of ETC.
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