KCN CALLISTO NETWORK

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KCN CALLISTO NETWORK

Callisto Network is a decentralized, publicly available cryptocurrency platform based on Ethereum source code, which has its own blockchain and cryptocurrency called CLO. Callisto Network created an open source platform for research and development.

Cold Staking:

Callisto offers a unique feature called Cold Staking. Cold staking is a protocol that rewards short, mid and long-term coin holders for holding their CLO coins. There is no minimum nor maximum deposits, and you can do it in just a few clicks. There is no need for specialized hardware, software or knowledge to do it.

Shortly: It’s like a term deposit but in Crypto!

Cold Staking vs Masternodes:

With Cold staking, you are lending your funds to the network on a short-term basis and rewarded with Callisto, proportionate to the period of time you stake your funds and the amount of CLO in the reward pool, funded by the Callisto treasury. The process is governed by a simple smart contract, where the required parameters are the length of staking period and amount of Callisto to be staked. The exact return is determined by the period in which you are staking your funds, and the amount Callisto in the network staking fund at the time the reward is claimed (as opposed to when the contract is executed). The minimum staking period is one month, and this can be rolled over to continue collecting dividends on staked funds. This allows holders of Callisto to effortlessly earn a return on their holdings if they do not immediately need to liquidate their Callisto, and provides distinct advantages over running a master node, or similar fiat instruments, such as certificates of deposits or savings bonds. Other blockchain networks offer similar returns through master nodes; a more technically involved proposal that requires the staker to host a master node on the network, typically requiring a relatively large investment both in terms of the underlying crypto and the hardware needed to host the master node. Consider, for example, Dash. You would need to deposit $200,000 worth of Dash in order to run a master node on Dash’s network. Then, you would have to configure a server or a VPS to host the wallet on that master node and leave your stake on their network for a set period of time, typically one year. The master node holds a full copy of the blockchain, so would need to ensure there is adequate storage to hold the constantly expanding blockchain and maintain 24/7 uptime, so the master node can communicate with other nodes on the network; thus, it also requires a dedicated IP address. Once the master node is set up, the person hosting the node collects a percentage of the block rewards throughout the life of the master node. Master nodes were originally introduced to incentivize the decentralization and security of blockchain networks by ensuring the participants were invested in the going concern of the network and compensated adequately. Though every network is different, master nodes serve different functions. In general, they perform additional functions over a standard node that merely relays transactions to the blockchain, such as increasing the privacy and speed of transactions, enabling voting protocols and governance, and assisting in treasury functions. Though master nodes provide functional benefits to the network and financial benefits to the person hosting it, most are currently either too expensive for the average HODLer, too technical, or both. Due to these reasons, this makes running master node beyond the reach of the typical crypto investor, holder, speculator, miner, trader, or other crypto enthusiasts.

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