Callisto Network(CLO) Skuld Hard Fork

Nowhere is this more evident than in the dynamic world of blockchain technology. Callisto Network, at the forefront of innovation, is about to take another major step by introducing the Skuld Hard Fork.

In Norse mythology, three goddesses weave the threads of destiny: Urd symbolizes the past, Verdande the present, and Skuld—the youngest goddess—represents the future.

In the coming weeks, Callisto Network will implement the Skuld Hardfork at block number 13,200,000, introducing significant changes that will profoundly impact the network. First and foremost, the introduction of a Dynamic Monetary Policy. This innovative mechanism will enable the burning of Callisto coins at rates higher than the minting rate based on blockchain usage, leading to deflation and a decrease in the number of coins in circulation.

The target is a maximum supply of 3 billion CLO coins; this means that the current circulating supply will decrease by approximately 370 million CLO coins.

As global inflation rates reach levels not seen in decades— with a 9.1% inflation rate in the USA in June 2022, the highest since 1986—the issue of inflation in cryptocurrency is becoming increasingly urgent. The Skuld Hard Fork is our answer to this challenge, offering a robust mechanism to control inflation in the cryptocurrency world. Cryptocurrencies often adopt inflationary models that can last over a century to encourage mining communities that secure the networks. However, this approach poses challenges for tokens with predetermined emissions, as their supply is disconnected from demand.

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