Callisto Network is a decentralized crypto platform based on go-Ethereum source code. This open-source platform claims to have developed a reference implementation of a self-governed, self-sustained, and self-funded blockchain ecosystem.  The developers of Ethereum Commonwealth launched Callisto Network, focusing on the weakness of the cryptocurrency space, namely the security. Callisto claims to have never been 51% attacked or hacked as a proof-of-work blockchain.

Callisto aims to build a secure and contribution-friendly ecosystem for future protocol improvements and development. Also, to achieve this goal, Callisto relies on a built-in system of a smart contract. Smart contracts are like regular contracts with the difference that instead of being drafted on paper, smart contracts run in the form of protocols on blockchain. Callisto seeks to standardize protocols for a reference implementation of built-in cold staking, a governance system, and a development funding mechanism based on smart contracts.

Noticeably, it was observed that the Ethereum smart contracts lack the tools to secure them. Callisto was introduced to solve this problem for its own cryptocurrency CLO and ETC ecosystem with an “Official Smart-contract Auditing Department.” Callisto claims to offer a completely free opportunity for a professional, smart contract developer to audit their smart contract. Every smart contract that passes the security audit receives the official audit status. Callisto Network has completed over 350 smart contract audits. The smart contract auditors are paid with CLO from the Callisto Network treasury funds. 

Further, every participant of the Callisto Network who holds CLO can become a cold staker. A cold staker is an account that has locked its funds in Callisto treasury smart contract for one and more than one month. The cold stakers are compensated with a portion of CLO treasury for holding CLO and participating in development governance.

Callisto Network was founded in 2018 by Yohan Graterol and Dexaran. Graterol is currently the COO whereas Dexaran is the developer at Callisto. They both are also the developers of Ethereum Commonwealth (Ethereum Classic). The whitepaper of Callisto Network was released on May 7, 2020.

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