Callisto – a new cryptocurrency based on the Ethereum Classic protocol

Callisto – a new cryptocurrency based on the Ethereum Classic protocol

Between July and September 2017, one of the developers in the ETC community, Dexaran, ran an ICO (Ethereum Commonwealth) to create a new coin called Callisto, which is based on the Ethereum protocol, and provides solutions to a number of problems faced ETC.

The launch of the new coin will be done through an airdrop at ETC 5,550,000 (approximately March 5, 2018), when ETC holders will receive the new CLO 1: 1.
According to developer statements, it is not a hardcore fork of ETC but a new blockchain with its own CLO that was designed to test experimental protocols, scalar solutions and a governance system that offers both benefits miners and coin holders.

What is Callisto’s novelty? The introduction of the “cold staking protocol” concept, which means that currency holders receive rewards because they are network participants without having to make transactions. This concept will help equalize the influence that miners have on the network and, if successful, can be implemented in the ETC and ETH network.

Project initiator Daxaran said the division between ETH and ETC was based solely on an ideological basis (after the TheDAO incident) and that the two coins currently use the same virtual machine, the same programming language and the same compiler. In the development of the Callisto project, he tried to provide solutions for both coins and promoted the idea that ETC and ETH developers should work together because they face the same difficulties.

It remains to be seen how successful the new project will be, and whether the protocol will offer enough benefits to be adopted by the other cryptocurrencies.

To qualify for airdrop, you need to have an ETC wallet in it, and after the Callisto network is activated, you need to create a new wallet for the new cryptocurrency.

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