What is Callisto Network?
The Callisto Network is a PoW-based smart contract solution. A PoW-based network refers to a system in which transactions are created and validated by miners (a group of nodes). This is done through a competitive dispute, in which nodes perform a resource-intensive task as part of the requirements to build a new block. In other words, developers compete to add a new block of transactions to the blockchain. The winner is then rewarded with the network’s cryptocurrency. However, note that the Callisto Network employs its own approach at PoW called ZPoW. It is capable of processing up to 100,000 TPS while maintaining the security of Bitcoin's PoW.
Regarding the network’s native cryptocurrency, the Callisto Network token is called CLO. It’s an Ethereum-based ERC-20 token. The CLO token has dynamic inflation and deflation mechanism. This happens due to Callisto Network’s Dynamic Monetary Policy, which is meant to constantly maintain the platform through the miners’ work. If you are interested in knowing the current CLO price, you can check the Callisto Network price chart featured above. Besides that, the Callisto Network has a cold-staking mechanism that allows the staking of CLO tokens.
Additionally, the Callisto ecosystem has multiple dApps. This includes cross-chain bridges Soy Bridge and Absolute Bridge, a decentralized exchange Soy Finance, and such NFTs platforms as Power-C.AR, VIP Warz, and so on. Also, as of writing, there are a few Game-Fi dApps under development.
Lastly, note that the Callisto Network has its own smart contract audit platform called the Callisto Security Department.
Use Cases of CLO Tokens
The Callisto Network crypto asset is a utility and governance token. It mainly functions as a form of reward to miners. Also, as stated before, it can be staked through the cold staking feature.
However, CLO tokens are not limited to that. They can also be used to fund the network’s treasury in order to finance the development and maintenance of the network. Also, it can be traded on many exchanges and used to make transactions within the network.
Moreover, regarding the governance function, users who hold Callisto Network coins are eligible to vote on proposals for upgrades and changes to the ecosystem.
Don’t forget you can check the live Callisto Network price chart above. It features the latest movements in the CLO price.
Who Founded Callisto Network?
The Callisto Network crypto project was founded by Dexaran, Yohan Graterol, and Carlos Sampol in 2018.
Dexaran is an anonymous security engineer and smart contract developer. Apart from Callisto Network, he also founded EthereumCommonwealth and developed the ERC-223 token standard. Besides, he was a part of Ethereum's split into Ethereum and Ethereum Classic, which took place in 2022.
Yohan Graterol is a computer engineer who also holds the position of CTO at Coinary LTD. Besides that, he is an Open Source Contributor at Open Source Initiative (OSI).
Carlos Sampol is a computer engineer who worked as a front-end developer, full-stack web developer, and react developer in the past. As of writing, he is also the software engineering manager at Platzi.
Tokenomics of CLO
The max supply of CLO coins is set at 6,5 billion. The majority of it was dedicated to cold stakers and miners. Also, a decent portion was dedicated to the Callisto Enterprise team's annual bonuses, which will be allocated over 5 years. Additionally, smaller amounts of CLO token supply were allocated to the Callisto Enterprise team's monthly rewards as well as private sales.
If the Callisto Network token piqued your interest, have a look at the aforementioned CLO price chart. You'll be able to make wiser purchasing decisions if you spot the major fluctuations in the Callisto Network price.
