It seems a lot of interesting changes are coming to Ethereum Classic in the very near future. Similar to other cryptocurrencies, this particular altcoin wants to improve its scalability. To do so, it’s looking toward the integration of a sidechain known as Callisto. This is a separate blockchain which will have its own currency known as CLO. It certainly introduces a lot of exciting changes which will help catapult ETC to new heights in the future.
When it comes to scaling, a lot of cryptocurrencies are struggling quite a bit. Bitcoin is a good example of this struggle, as the network has been far from perfect or fun to use these past few months. Mounting transaction fees and growing confirmation delays have been problems for quite some time now. The developers of Ethereum Classic wish to avoid these issues with the help of a sidechain protocol, rather than an on-chain block size increase a la Bitcoin Cash.
More specifically, it seems this sidechain will be known as Callisto. Although the name is interesting, it is by far the least important aspect to remember right now. This sidechain will be implemented as a way to research and provide a reference implementation of future protocol changes. ETC also has smart contracts, but the developers want to create an on-chain governance system for this technology. Additionally, they aim to introduce a financially transparent, built-in development funding mechanism. On paper, it all sounds rather exciting.