Calisto Network is a blockchain ecosystem and development environment based on Ethereum and developed by one of the teams which founded the Ethereum Classic.
Its purpose is to mitigate the vulnerability associated with smart contracts, preventing hacks such as the DAO hack and the Parity Multi Sig Wallet hack. To do so, they present a Security Department which offers security audits for smart contracts free of charge. Developers can submit a request for smart contracts to be reviewed byShow more [+] multiple auditors. When requested, at least three auditors review the code for potential bugs, optimization, and overall smart contract architecture. The audits then send their results to a security manager and, if the results are not conflicting, the manager will publish a report summarizing them.
The CLO coin is minable with a PoW algorithm. Nevertheless, it provides a cold staking protocol unrelated to PoS. 20% of the block rewards are distributed to cold stakers. The amount earned is directly proportional to the number of locked coins.
CLO was initially distributed in a 1:1 ratio to every ETC owner in March 2018.