Callisto Network (CLO) describes itself as a decentralized open-source platform based on Ethereum protocol. ... The main features of Callisto Network are free security audits for smart contracts and 'cold staking', which is a passive income system supported natively by crypto-wallets.
A cryptocurrency (or crypto currency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrency mainly uses decentralized control with all transactions recorded in a database called Blockchain. The first decentralized cryptocurrency created was Bitcoin in 2009. Since then, the crypto world has grown exponentially. Massive adoption of blockchain technology cannot be avoided in the coming years as cryptocurrency is becoming increasingly easier to access and own. There are at least 1500 cryptocurrencies currently in the market. One of these is Ethereum. Ethereum implemented a decentralized platform that runs a smart-contract, which is a decentralized application that runs on blockchain. Callisto Network is a project of Ethereum Commonwealth that has been researched and designed, and has developed a reference implementation of a self-sustained, self-governed, self-funded blockchain ecosystem. It also improves the security of the ecosystem of crypto industry by improving smart-contract development methods and environment. Another goal of Callisto Network is the implementation of experimental protocols, which are a combination of core features implemented in smart-contracts and merged protocol-level configuration. An important point is the ability to implement key platform features using built-in mechanisms, i.e. smart-contracts. Callisto Network aims to define and standardize protocols for a reference implementation of built-in cold staking, governance system and a development funding mechanism based upon smart-contracts.
Callisto Network is a decentralized open source crypto platform based on 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, self-funded blockchain ecosystem and development environment. Callisto aims to establish a secure and contribution-friendly environment for further protocol development and improvements. It will rely on a built-in system of smart-contracts to achieve this goal.
One of the main problems of Ethereum smart-contracts is the lack of tools to make them secure. Smart-contract hacking results in millions of dollars of lost revenue for the whole ecosystem. Callisto Network is intended to solve this problem for CLO and ETC ecosystems with an “Official Smart-contract Auditing Department of CLO & ETC”. This represents a completely free opportunity for a professional smart-contract developer to audit their smart-contract. Another problem of each progressive blockchain is the protocol update that needs Blockchain hard-fork. Hard-forking is a stressful process for mining pools, exchanges and other network participants. Callisto Network seeks to mitigate hard-forking by establishing two planned hard-forking dates: 11 November 2018 and 11 November 2019. Each protocol update should only be performed on one of these days. This approach allows each member of the network to know about upcoming updates and to prepare in advance. If the specific protocol update code is not ready to implement at the time of the planned hard-forking date, then it should be delayed until the next one.
The security managers will always get paid regardless of their activity, but they are controlled by Cold Stakers’ voting (or the security department owner manual control during the debugging stage. Average community members will not know the details and specifics of the security auditing process, thus Cold Stakers cannot verify or control the activity of security auditors. This is the purpose of the security audit organization managers. We rely on the assumption that average community members can verify managers activity and determine whether a manager is malicious or not.
If it is identified that a manager is not acting as he should, or is not working for a significant period of time without any explanation, then he must be dismissed via the Cold Stakers’ voting (or security department owner manual control during the debugging stage and another manager will be elected.
Auditors are paid depending on their activity summary. An auditor is marked as active when he/she is submitting a report. After a certain period of time, the active status is removed. Top active auditors with the highest amount of “karma” are paid depending on budget.
Smart-contract systems can be different in complexities. The length of a bytecode of audited smart-contracts compiled with 0.4.20+commit.3155dd80 compiler without optimization used as a measure of contract complexity and auditors karma coefficient calculations.
The Callisto project is open source and open for contributions. There will be a Callisto development team at the early stages of the project. The Callisto development team is responsible for the implementation of the core features of the Callisto ecosystem, that will enable it to be a completely decentralized and self-sustaining network.
Further development will become completely decentralized once a Callisto treasury smart-contract is deployed. Further development goals and roadmap milestones would be defined through the Callisto treasury smart-contract. The development and implementation of these milestones will be funded through the Callisto treasury smart-contract as well.
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 already existing proposals.
Cold stakers will be compensated for being CLO holders and participating in the Callisto development governance with a portion of the CLO treasury. The total amount of CLO allocated for each cold-staker depends on the total amount of cold stakers that are currently on the Callisto network.
Cold-staking does not require an account owner to run a full node. It is relying on a treasury smart-contract. Each participant of the Callisto network is allowed to become a cold-staker at any time if they deposit their stake to the Callisto treasury smart-contract.
The full stake + staking reward can be withdrawn from the treasury contract at any time after a month has passed from the stake deposit. An account that has withdrawn its funds from the treasury smart-contract will no longer be a cold-staker.
