Callisto Network (CLO)

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Callisto Network is a decentralized open source crypto platform based on the go-Ethereum source code with its own cryptocurrency ‘CLO’.

Joke Name

Callisto Network = Crypto Platform

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (CLO)

Coin or Token

Circulating Supply (1.1 Billion)

Total Supply (6.5 Billion)

Market Cap Ranking

Review

Callisto Network is a decentralized open source crypto platform based on the go-Ethereum source code with its own cryptocurrency ‘CLO’. The main goal of Callisto is to research and develop a reference implementation of a self-sustaining, self-governed and self-funded blockchain ecosystem and development environment.

Key Features:

  • Callisto File System
  • Implementation
  • Cold Staking

Callisto File System

Callisto File System solves a problem of independent and securely storing an archive of security audit reports. The main purpose of this file system is to provide an opportunity to upload, store and view security audit reports, independently from any third-party services. At the same time, the Callisto file system enables users to store custom files in a distributed storage maintained by elected Callisto IPFS-host-nodes. The system can be scaled depending on demand.

Implementation

The Callisto file system relies on CallistoFS.sol core smart-contract (source code). A user can create a link to the IPFS file name by invoking the uploadfunction of the smart-contract and providing a refundable deposit in CLO. Then the user should upload the file to one of IPFS-host-nodes. Once the FileUpload event have been emitted, each host-node should verify the file and replicate it if the payment condition is met. A file is guaranteed to be stored until the deposit for the file is at the contract. A user can withdraw the deposit at any time. After the deposit has been withdrawn, file storage is no longer guaranteed.

Each elected IPFS-host-node will receive monthly salary for maintaining the storage. If one of the nodes does not work correctly, fails to provide a file or maintains a bad connection, then another node can be elected to replace it.

Cold Staking

Every participant of the Callisto network that holds CLO can become a cold-staker. A Cold-staker is an account that has locked its funds in the Callisto treasury smart-contract for 1 month or longer. Each cold-staker account can participate in the decision-making process by submitting a development proposal to the Callisto treasury smart-contract or voting FOR or AGAINST already existing proposals.

Problems:

There’s nothing specifically problematic with the Callisto Network. It’s essentially an ETC clone with some additional issues to fix scalability and security, but there hasn’t been much interest in the project and it’s relatively unknown.

Conclusion:

The Callisto Network is based on the Ethereum protocol and developed by Ethereum Commonwealth, a development team for ETC. With Callisto Network, Ethereum Commonwealth aims to address some of the issues related to the Ethereum Classic, such as the scalability and security of smart-contract ecosystems. The cold staking, is excellent addition to the platform and should encourage investment and holding of the CLO network token.

Pros

  • Scalability
  • Security

Cons

  • No direct backing (asset, profits, commodity)
  • Early stages – Not well known