Callisto Network is a proof-of-work blockchain with a strong emphasis on security. Based on its native cryptocurrency (CLO), the Callisto Network is a tier 1 smart contract solution that offers a unique set of features. Continue reading to learn more about the Callisto Network project.
What is Callisto Network (CLO)?
Callisto Network is a decentralized open source crypto platform based on go-Ethereum source code with its own CLO cryptocurrency. Callisto’s primary goal is to research and develop a reference implementation of a self-sustaining, self-governing, and self-funded blockchain ecosystem and development environment.
Callisto will implement cross-chain service enhancements, improving the scalability of Ethereum Classic and its own network. As a sidechain, it will also carry its own dataset/functionality linked to the ETC mainchain. Using a sidechain provides bandwidth on the ETC mainchain. Another main feature of the Callisto protocol is Cold Staking. Cold Staking enhances Callisto’s “store of value” feature by incentivizing coin holders to hold CLO coins for a certain period of time.
Callisto ecosystem
A smart contract ecosystem with a real emphasis on security. Build, bet and trade on a never compromised blockchain.
smart contract audits
The Callisto Network assists smart contract developers in mitigating risks and flaws in their smart contract code. This increases the adoption of programmable blockchains to the benefit of the entire cryptocurrency industry. Having completed over 350 smart contract audits, including many major projects, Callisto Network has established itself as the leading independent security expert.
Smart contact migration service
Callisto Netowork puts its experience and knowledge at the service of developers who want to migrate their DApps from the Ethereum chain to EOS.
CryptoBot
CryptoBot offers Telegram users a full range of features, from sending and receiving cryptocurrencies to earning passive income. With no setup required, Cryptobot can be quickly and easily added to any Telegram group and thus become a fantastic marketing tool to interact with the community like never before.
cold staking
One of the unique features of Callisto is earning monthly passive income through a process called Cold Staking. The Cold Staking smart contract takes 40% of all CLO mining rewards and distributes them to cold stackers in direct proportion to their stakes.
BUSTD Stablecoin
The Bulls USD token ($BUSDT) is backed by the US dollar at a 1:1 ratio. To ensure trust, this peg is maintained via a smart contract. Therefore, 1 Bull USDT is always 1 USD, regardless of the volatility of the cryptocurrency market . The perfect complement to Soy.Finance, the BUSDT token can also be invested to receive passive income.
Soy.Finance
Soy.Finance is a complete DeFi solution on the Callisto Network blockchain, including a decentralized exchange and income farming. In addition to decentralization, reduced fees and user experience, Soy.Finance is synonymous with security.
Callisto’s Treasure
Callisto Network is not based on pre-mined coins or ICO and initially its funding was based on one of its technical features: the Treasury. Callisto’s Treasury receives 10% of all mined blocks. With these resources, it is expected to finance the development of projects proposed and voted by the community.
Callisto Enterprise
Callisto Enterprise aims to enable any company to achieve their Blockchain ambitions by offering a range of services to outsource the technical process. Callisto Enterprise experts have the skills to help you along the way, from in-house solutions to consulting.
Cold staking is a smart contract based process that allows users who hold CLOs to earn interest on the total CLO issuance if they hold CLO in their account long enough. Anyone with a CLO can become a cold staker. For this to happen, all that needs to be done is block some funds with a treasury smart contract for a period of at least one month.
Cold stakers are rewarded with some treasury funds as they are part of the network’s management model. The treasury balance consists of a 10% charge for each Callisto block. The reward amount depends on how many punters are available at any given time (more punters, less reward).
Callisto NFT
Create your NFT on the most secure blockchain. The main advantages of CallistoNFT over the existing ERC721 are:
- Built-in “Trades” – No need to rely on third-party marketplaces for NFTs now, you can express your willingness to sell/buy a specific NFT directly through the token contract!
- Monetization for NFT Creators – Not 3rd Party Marketplaces – NFT Developers/Creators can now earn a % fee on these built-in businesses instead of the marketplaces that traditionally did this.
- Communication Model – Communication Model for Smart Contracts – “events” are a very standard practice in programming and the main resource for program-to-program communication models. However, the ERC721 does not have this feature. The new standard addresses this to open up broader automation opportunities.
- Standardized Properties – NFTs typically represent some unique objects and store their properties (e.g. bitmap for an image or website link). These unique properties are implementation specific on the ERC721. CallistoNFT takes a step towards standardizing these features.
Token CLO
The CLO cryptocurrency has a circulating supply of 3,104,773,221 CLO tokens and a maximum supply of 6,500,000,000 CLO coins.
Bottom Line
Callisto Network is an Ethereum-based blockchain with its native currency, CLO. Its main objective is to improve the security of the blockchain ecosystem. Since 2018, it has contributed to improving the Ethereum, Ethereum Classic and EOS networks and has performed over 350 smart contract audits, making it an industry leader in crypto security. PortalCripto hopes that the article has brought the necessary information about the Callisto Network project.
