What Is Callisto Network?

What is Callisto Network (CLO)?

Callisto is a decentralized open source crypto platform based on go-Ethereum code. This platform has its own cryptocurrency, which is called CLO.Callisto is an attempt to create a self-funded and self-governed ecosystem. The main idea of the developers is to create a secure environment for the streamlined development of blockchain protocols using smart contracts. One of the key features of this platform is free auditing system. So everyone will have an opportunity to submit a smart contract.Basically, the whole ecosystem is governed by managers and auditors. Auditors review the code of smart contracts and managers validate their work.

Where did Callisto Network (CLO) come from?

Callisto is a project of the Ethereum Commonwealth. The CEO and co-founder of the platform is known by the name “Dexaran”. There is not too much information about him. Probably he resides in Russia and excels in specialized domains. CTO of this project is Yohan Graterol. Yohan served as an open-source contributor to a number of projects, including Viper (Ethereum language) and ClassicMask (MetaMask port). So it is said in his LinkedIn profile. He is also a head of product development at blockchain company named Platzi.

What are the advantages of Callisto Network (CLO)?

1. Developers claim that they have solved ETC scalability problem in the new platform
2. Smart contracts Callisto can be used in the ETC blockchain
3. Cold staking protocol
   
   Cold staking help users to earn interest in a total CLO emission when they hold CLO balance for a long time. Anyone who holds CLO can become a cold staker. To become cold staker user need to lock some funds in a treasury smart contract. Any cold staker can participate in the governance of the system.
4. Smart contract auditing department
   
   It will help to protect the system from hacking.
5. Callisto has upgrade dates
   
   So all the users can know about upcoming changes.

What are the disadvantages of Callisto Network (CLO)?

Since Callisto is a rather new cryptocurrency it is hard to say anything about its disadvantages. So far we can only talk about the ideas the developers team wants to implement.

How to exchange crypto on SimpleSwap?

Now you know a little more about Callisto. If you plan to purchase some crypto, you might use SimpleSwap and follow the instructions below:

1. For example, you want to swap BTC to ETH. Select the currency you want to exchange (e.g. BTC) in the first drop-down list. Then enter the amount you want to swap.
2. Select ETH in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
3. Click the Exchange button.
4. Enter the Recipient's Address. ETH will be sent there. Be careful and make sure you use the correct address.
5. Create the exchange.
6. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to ETH exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.