Casper Network ($CSPR) - The Decentralized POS Layer 1 Blockchain

In 2021, the cryptocurrency market has witnessed rapid expansion. The emergence of blockchain technology has contributed to this growth.

In this article, we would like to introduce Casper Network, known as a fully decentralized, scalable, and highly secure Proof-of-Stake layer 1 blockchain.

What is Casper Network?

The Casper Network is a Proof of Stake (PoS) enterprise blockchain designed to expedite and streamline the development of blockchain-enabled goods and services by businesses. The Casper Network offers upgradable smart contracts, developer-friendly functions, and lower transaction fees than the majority of Layer-1 blockchain solutions. Casper employs a PoS consensus process known as Casper CBC, which is anticipated to be adopted by the Ethereum network upon its eventual upgrade to version 3.0.

The technology of Casper network

Casper utilizes the innovative consensus protocol Highway. The Highway protocol is the first and only provably live and secure protocol based on the CBC Casper specification, which was initially developed by the founding Ethereum team with the intention of replacing Proof of Work with Proof of Stake.

The public protocol is managed by community validators that compete in an auction for available validator slots. The on-chain auction takes place at the conclusion of each era (2 hours) and picks the top 100 validators by stake. Token holders that choose to participate in the protocol assign their CSPR to a validator of their choosing, in essence "voting" for their validator in the auction.

In exchange for providing network security, the protocol algorithmically mints 8% of the total supply of CSPR and distributes it to validators and delegators in proportion to their stake. Validators accept transactions and include them in a block when selected by the consensus mechanism as its leader. After the network has completed a block, validators will process transactions.

The blockchain enables smart contracts that compile to Wasm (Webassembly) and includes various host features that are purpose-built for enterprise use cases, such as upgradeable smart contracts, powerful accounts that support sophisticated permissioning schemes, and multiple contexts for code execution (account or contract). Notably, Casper Network developers do not need to be familiar with Solidity.

The network signs transactions using asymmetric key cryptography and supports both ed25519 and secp256k1 key types to ensure interoperability with Ethereum keys.

What makes the Casper network special?

Scale Without Compromise

Casper is a fully permissionless/decentralized blockchain intended for real-world speed and security with extremely low and sustainable energy consumption.

Minimal Risk Simple to Use

Casper's familiar tools, open designs, and expert support make it easy to create applications.

Flexibility

Casper was designed so that businesses can select between the public network, a private instance, and a hybrid solution.

Low Cost

A publicly available software platform with transparent and sustainable pricing.

Future-Proof

Infrastructure that is upgradable drives enduring and egalitarian innovation.

Casper Network Token

Detailed information about Casper Network token

• Name: Casper
• Ticker: CSPR
• Total Supply: 11,220,894,778
• Circulating Supply: 10.43B CSPR
• Market Cap: $504,686,778

Token Usage

The primary utility token for the Casper Network ecosystem is CSPR. This dynamic cryptocurrency performs a variety of functions throughout the network. Layer one tokens, such as CSPR or ETH 2.0, serve two main purposes:

• To pay for transactions that utilize the network's resources (which fees are allocated to validators and also ensure that the resources in the network are not abused).

CSPR is employed to compensate PoS Validators. It is also the manner in which ordinary users interact with Casper services and features. All fees and prizes, for example, are paid in CSPR. The token also plays an essential part in the network's community governance.

• To give economic security by consensus stakes.

Casper is a blockchain based on Proof-of-Stake (PoS). Proof-of-Stake (PoS) networks are far more scalable and energy-efficient than Proof-of-Work (PoW) networks.

They are able to provide the service with less energy because miners are no longer involved in the validation process. To secure the network, users constantly stake their tokens. They receive CSPR as compensation for their efforts. The more tokens you wager, the greater your payout will be.

Token Distribution

The distribution of CSPR tokens will be as follows:

• 10% of tokens will be retained by CasperLabs Holdings AG for stockholders, founders, and employees. Over the course of five years, 16% of tokens will be allocated to a Developer DAO in an effort to encourage core protocol and application developers to build on Casper.
• 8% of tokens are earmarked for team members of CasperLabs (current and future)
• 6% of tokens are reserved for advisors and investors (both pre- and post- mainnet launch)
• ~17% during Casper's private validator token auction (closed Sep. 2020)
• The remaining 43% of the initial supply of tokens will be sold on the market, with 5% to 10% allocated to a public launch sale. The final 23-28% will be auctioned in a public sale lasting over four years and beginning at least nine months after the launch of the mainnet.

Token Release

Funding Round

In September 2020, Casper raised $14 million privately.

For Mainnet Launch Sales, CasperLabs will sell between 5% and 10% of the initial supply in a public token sale that is anticipated to begin around the same time as Casper's mainnet launch.

CasperLabs wants to sell all leftover tokens from the Mainnet Launch sale in a public long-term token sale (estimated to be between 23 and 28 percent of the total supply). This continuing sale might commence approximately nine months after the network is up and last for approximately four years.

Roadmap of Casper network

The Team of Casper Network

Casper Labs is the Casper network's development team. Their mission is to provide technical help and network maintenance. On March 31, Casper Labs officially launched the Casper Network mainnet.

Core team

• Medha Parlikar, Co-Founder and CTO

Medha is a co-founder of CasperLabs and serves as its chief technology officer. In the early 1980s, she began her career in technology by creating computers in her basement. Since then, she has spent the past two decades delivering SaaS software for production to large organizations such as Adobe, Omniture, and Avalara. In addition to her technical expertise, Medha's talents include developing highly effective technical teams and motivating them to create customer-focused solutions.

• Mrinal Manohar, Co-Founder and Chief Executive Officer

Mrinal has a significant background in both computer programming and finance. Mrinal was a Principal and the Technology/Media/Telecom Sector Head at Sagard Capital, a Private Equity Associate at Bain Capital, and an Associate Consultant at Bain & Company prior to establishing Casper. In addition to his professional contributions to the blockchain field, Mrinal has been a seed investor in Ethereum, Blockstack, Basis, Maker, and Filecoin, among others, since 2012.

Investors

Advisors

Conclusion

The Casper Network has evidently resolved the layer 1 trilemma; it is secure, fully decentralized, and scalable/fast. Powered by Highway, a novel Casper-based Proof-of-Stake consensus system that uses correct-by-construction (CBC), Casper leverages popular workflows, unique developer tools, and various programming languages. Casper makes blockchain services more accessible, upgradeable, and predictable, hence removing obstacles to general adoption.

Stay updated with the latest announcement from Casper network !

Website: https://casper.network/en-us/

Twitter: https://twitter.com/Casper_Network

Reddit: https://www.reddit.com/r/CasperCSPR/

Telegram: https://www.reddit.com/r/CasperCSPR/

FQAs about Casper Network

Where Can You Buy Casper Coins (CSPR)?

CSPR is now tradable on an increasing number of exchanges, alongside a number of stablecoin trading pairs. Currently, Huobi Global is the most active platform for trading CSPR. Other exchanges include:

• OKEx
• Gate.io
• Coinlist Pro
• ZB
• Bithumb

How Is the Casper Network Secured?

For network security, the Casper Network employs a PoS consensus mechanism. PoS relies on token staking to choose node validators, making the consensus extremely versatile and scalable. Unlike the Bitcoin blockchain's proof-of-work (PoW) consensus, PoS does not necessitate massive amounts of electrical or computing power to perform validations and add new blocks to the chain. Casper also makes use of the Correct-by-Construction (CBC) Casper specification, which takes a more advanced approach to Byzantine Fault Tolerance (BFT) applications.

Is CSPR a coin or a token?

CSPR is the native token of the Casper proof-of-stake (PoS) blockchain, which compensates validators for staking their tokens in order to contribute to the consensus mechanism. CSPR is also used to pay network transaction fees.

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