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Callisto (CLO) Airdrop for Ethereum Classic (ETC) Holders

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Callisto

Observers and experts across the domain of cryptocurrencies have noted two coins performing exceptionally well in a period of Bitcoin uncertainty. Bitcoin has over the past few years emerged to be the leading player of the cryptomarket. The performance of other coins and tokens are correlated closely to the performance of BTC. When Bitcoin pumps, every other coin and token reacts the same way. If Bitcoin tanks, the rest of the cryptomarket also takes a hit.

However, two coins have proved to be resilient. One of these is Litecoin, the gains of which can be accredited to two factors. The first is the supposed Litecoin cash (LCC) fork which took place on the 18th of February 2018. The second reason for Litecoin’s surge is the release of its digital wallet known as Litepay on the 26th of February, 2018. The other coin, which is showing remarkable performance in the cryptomarket irrespective of Bitcoin’s performance, is Ethereum Classic. It is currently trading at 27.10 dollars.

https://coinmarketcap.com/currencies/ethereum-classic/

The reason behind the brilliant performance of Ethereum Classic (ETC) can be cited to be the Callisto (CLO) Airdrop announcement in January 2018 made by the coin’s development team which has been working on the Callisto Network Project. The ratio of the CLO airdrop is 1:1 for ETC holders, and is slated to happen after the targeted 5,500,000 block of the Ethereum Classic ledger.

The Callisto Network Project is an experimental change in the Ethereum Classic protocol which aims to establish a smart contract based on the chain-governance system. This system has a built-in transparent financial funding mechanism. The protocol will balance the interest in the network between the miners and coin holders.

Callisto (CLO) is a distinct token and its blockchain will be separate from that of Ethereum Classic. Callisto also introduces a cold staking protocol that provides nodes to coin holders as a reward for participating in the network. It is to be noted that a node is not mandatory for a cold staking protocol. Owners of CLO can lock their funds in a Callisto Treasure smart contract for 1 month or longer. Each cold staker account can submit a development proposal to the Callisto treasury smart contract or vote for or against pre-existing proposals. In this way, each cold staker account can participate in the decision-making process.

Now the question arises as to how you can claim your Callisto tokens. This should automatically immediately happen after the fork and depends on whether your Ethereum Classic coins are in an exchange or in a wallet like MyEtherWallet, ClassicEtherWallet, ClassicMask among others. In the case of the former, the exchange might not make the CLO tokens available immediately for the ETC owner. In the case of the latter, an ETC coin holder needs to configure the wallet to show Callisto Tokens and he will find it there.

Summarizing, the Callisto airdrop on block 5,500,000 is the primary factor that has been attributed to the upswing in the price of Ethereum Classic (ETC) in the markets. Many traders are rushing to buy ETC in the hopes of getting CLO tokens For free. This is a good strategy, especially if the Callisto project turns out to be a success and the value of token rises by a significant margin. If you are holding ETC coins right now, the blockchain snapshot will be taken at 5500000 blocks and you can claim CLO tokens as long as you have the private keys for your ETC wallet under your control.

As of 5th March 2018, the Ethereum has 600 blocks to go, before the snapshot for the Callisto airdrop is slated to take place. The current price was not the anticipated figure when the news was initially declared. A Bitcoin drop, an overall decline in the cryptomarket and a last-minute statement from Bittrex announcing its lack of support for the airdrop, cumulatively brought an adverse effect on the price of the Ethereum Classic coin.

When the news of the airdrop was declared, Ethereum Classic witnessed a surge in its price from around 40 dollars to 46 dollars. In February 2018; ETC reached a BTC price high – trading at about 420K Satoshis. It had not seen such a surge in price in about six months. However, this price high it did not sustain for a long time and now with Bittrex withdrawing its support, the ETC/BTC price stands at around 251k Satoshis range.

Very recently, Bittrex, which is one of the most popular exchanges, issued a statement saying that it was unable to support the ETC/CLO airdrop. The team at Bittrex blamed the development team for contacting them last-minute and not giving them enough time for a rigorous token review.

We will be updating our subscribers as soon as we know more. For the latest on ETC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of ResoluteSupportMedia via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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