Casper is a Layer-1 Proof-of Stake (PoS) blockchain, which is a fork of Ethereum. It was developed through Correct-by-Construction (CBC) specification for real-world implementations. The protocol is designed by CasperLabs, a blockchain, research and development company.
The company aims to facilitate the mainstream adoption of blockchain without compromising on the decentralization and security that it affords. Casper network also allows for transparency, scalability, low latency and higher operability while accessing new markets.
Casper lowers the barrier of entry into blockchain technology for businesses while also being user-friendly. It allows for the evolution of enterprises in a way to align with the future demands of users. In essence, the network poises to drive the broader adoption of blockchain technology to solve real-life business problems.
The Casper PoS architecture is designed to enable sharding, a scaling solution. This improves the throughput of the network and allows enterprises to seamlessly build private or permissioned apps. Sharding alongside rollups are some of the proposed solutions to the Ethereum’s scaling issues.
Unlike the Proof-of-Work network, the Proof-of-Stake consensus mechanism states that a person can mine or block transactions depending on the amount staked. It is deemed secure due to the strong financial incentive for honesty. The PoS mechanism was created as an alternative to the PoW which is far more energy consuming.
Casper CBC Technology
Casper Correct-by-Construction (CBC) was built by Ethereum developers and introduces flexibility and removes indecisiveness from the consensus protocol. The CBC ensures that the blockchain is secure and makes sure that decisions are irreversible. Due to the flexibility of CBC, the network’s block time can be adjusted to increase the throughput of transactions.
It also allows for the parallel execution of tasks, which also improves the throughput of the network. This means that it enables tasks to run side by side without having to wait for one another to get executed. Therefore, it improves the efficiency of the network.
The network is designed to dynamically adapt to changing enterprise environment and preferences through upgradeable contracts. This ensures that the performance of applications can be enhanced constantly on the blockchain.
Who Founded the Casper Network?
The Casper network is built by a team of investors, advisors, and other intelligent persons who possess a deep knowledge of internet-scale computing systems across multiple fields.
Mrinal Manohar is the CEO of CasperLabs and ADAPtive Holdings Ltd – the parent company. He is an investment and technology professional with years of experience in the crypto investment space.
CSPR is the native token for the Casper network. Of the total token supply, 8% was allocated to the team, while 46.3% was allocated to Foundation, 6% to the advisors, 29.7% to private sales, and 10% to Public sale. The network recently completed its private validator token sale at $0.015 per CSPR.
Network users on Casper network use the token as fees for on-chain transactions. The network also uses the token to reward validators who participate in the PoS consensus mechanism. Currently, the network is in the third stage of its ICO and the tokens are available on CoinList. Following the CSPR lockup periods, the token will be released to other platforms.
Staking on Casper Network
An amazing feature of proof-of-stake is that it allows users to stake their tokens for a certain period to earn rewards in return. Those who hold private keys may stake their tokens with any validator in the Casper network. However, you can stake the tokens on an exchange or custodian.
There are certain terms you should acquaint yourself with if you want to stake on the Casper network:
Casper network uses the same approach for the validator stake and delegated stake. Slashing of the validator also affects all delegated tokens. The platform slashes validators for equivocating or making unreliable decisions.
While participating in staking, the validators fix a commission for their services. The commission is usually set as a fraction of the rewards that the validator makes.
Validators earn rewards for their contribution to the consensus process by voting the finalizing blocks. Rewards are not fixed per-block but divided proportionately among all stakes for a particular era. This means that the rewards a validator earns depend on the work done. For instance, if the number of blocks voted by a validator drops, the rewards will also drop.
Where Can You Buy the Token?
The token can only be purchased using cryptocurrencies. The first step is to purchase either BTC, Ether, or Tether on exchanges like Binance using fiat. After that, you can use the purchased cryptocurrency to buy CSPR on CoinList.