Friends - today i decided to abandon the reviews of ICO and slightly touch on the theme of hardfork and incidentally tell you about one wonderful crypto currency that is ready to take a high place in the crypto-currency world and bring in it a lot of positive moments. Meet Callisto Network - a decentralized crypto platform created by the developers of Ethereum Classic after the hardfork (side-chain) in the main network on March 5, 2018. All ETC holders were paid a CLO in a 1: 1 ratio. To date, Callisto Network (CLO) takes 481 place on the site coinmarketcap and costs 0.02$.
You've all probably heard such words as softfork and hardfork, but what do they mean and why are they needed?
Each network operates according to its rules and has certain parameters and often there is a need to make corrections and improvements to this network. At the same time, the network is rolled back to a certain block and re-writes the last blocks without changing the code - this is called softfork. Many inexperienced speculators try to track such softfork for profit by reselling tokens, but they probably do not fully know that most often when carrying out softfork, the price of tokens does not change.
With hardfork the situation is different - here you have to change the code of the system itself, make corrections and improvements. As a result, the network is divided into 2 parts and users need to choose which network to remain in. After the appearance of 2 networks, there are several options for the development of the situation:
If to say in simple words, then without these changes there would not be a full-fledged development of the Crypto-currency. Everything would be in the initial stage of bitcoin creation times and we would have 7 transactions per second, which could not fully meet the needs of the entire crypto-currency community. At the beginning of the appearance of bitcoin, when there were not many users who made transactions, this number of transactions was quite enough and when the number of network participants began to increase, there were obvious problems and delays in the network, the price for transactions began to grow and arose an urgent need to improve the network - it was hardfork. Most often, when carrying out hardfork, there is a free distribution of future tokens and these cases are of interest to both speculators and holders of the tokens.
Why did it become necessary to create Callisto? To understand this issue, it is necessary to trace the entire initial chain of the ETH network. As you know, in 2016, the venture capital fund DAO for the Ethereum network appeared, with the help of which the subsequent DAAPS of this network were to be financed. The main condition was that holders of DAO tokens could influence DAAPS and investors began to appear. But the hackers found a vulnerability in the system and stole about $ 50 million from the fund. And here, among the community, disputes broke out or did hardfork or do softfork or leave everything as is, eventually a hardfork was and ETC appeared, offering more advanced smart contracts and network security.
In turn, Callisto Network being a hardfork or more precisely a side-chain (separate blockchain, having a two-way communication with the main blockchain and the ability to directly exchange assets and transfer them within a common system), ETC offers an increase in the scalability of the ETC network and the introduction of the protocol cold stacking. In this case, Callisto will have its own blockchain, integrated with the blockchain Ethereum Classic. All changes introduced in Callisto can be transferred to ETC, so the balance and confident development of both systems will be achieved.
Increase in scalability - crypto-currencies have scalability problems that are transformed into transaction delays and an increase in their cost. Bitcoin Cash is trying to solve this problem by increasing the block size, Ethereum Classic team decided to create a side-chain Callisto to solve this problem. Since the Callisto and Ethereum Classic blockchains are interrelated, one of the networks can be used as a test, in this case Callisto.
Cold stacking - this is a POS mining option for coin holders. Unlike POS ETH, where only the wealthiest coin holders can benefit. In Callisto, anyone can begin to increase their capital using cold stacking. The ETC team using cold stacking can solve the problem of the lack of a mechanism that encourages keeping coins and not selling them.
Cold stacking features:
Callisto also has the option of normal POW mining using the Ethash algorithm. At the moment, you can use a lot of pools, you can see which you can on the official site. (https://callisto.network) The reward of the miners for each block found is 600 CLO of which 30% is collected by the coin makers as a commission.
The development team is very active in developing and implementing its platform and setting high standards for itself. So in the near future will be implemented many changes and new functions, among which:
The team also decided to change the roadmap and discard some changes:
As you can see, the ETC team went its own way to solve the scalability problems and lack of a mechanism to stimulate long-term holders of its network and created a side-chain Callisto, which already shows excellent results. Time will show which of the blockchains all the same will be more perfect and adapted to the current realities. Cold stacking can have a decisive impact on increasing the popularity of Callisto for both ordinary users and all other stakeholders, including miners and speculators. To date, this scheme of work looks promising. We can only wait.
Official site - https://callisto.network
Bitcointalk ANN - https://bitcointalk.org/index.php?topic=3137301.0
Telegram - https://t.me/CallistoNet
Author:
Bitcointalk - lesnik_utsa
Telegram - @lesnik_baunty
This publication is informational in nature. The article should not be seen as an investment recommendation or advice. Readers of this review article must make decisions based on their own judgments, taking into account financial circumstances, investment objectives and the risk limit before investing funds
