Today we continue to talk about CSPR in order of market capitalization. Its current market capitalization is approximately US$5.6, ranking around 80+.
Casper is a proof-of-stake blockchain network that optimizes blockchain applications to support enterprises and developers. The Casper network is the first blockchain built on the CBC Casper specification, which stands for Correct-by-Construction. The network can tokenize almost any asset without compromising performance or security, thereby continuously creating new markets and unlocking value. Casper is designed to accelerate the adoption of blockchain technology by enterprises and developers today, while ensuring high performance in the future as the needs of network participants evolve.
CSPR is the native token of the Casper network. As a proof of stake blockchain, Casper relies on CSPR to reward validators who participate in the PoS consensus mechanism to protect and maintain the network. Casper users also rely on CSPR to pay network fees for on-chain operations.
Project Vision
Achieving efficient and scalable layer 1 protocol without sacrificing decentralization and security
Project Solutions
The Casper network is a PoS public chain that is optimized for developers to get started quickly, improve smart contract performance and enterprise integration. The consensus mechanism supporting the network is the Highway protocol, which is based on Casper's original CBC specification PoS proof-of-stake blockchain architecture. As a secure and active consensus model under the BFT concept, the Highway protocol has made two improvements: making the threshold of network finality higher; and achieving flexibility that is unattainable in typical BFT models.
Technical features
CasperLabs has three features: CasperLab Highway, a smart contract platform for the PoS mechanism, and a safe and feasible CBC Casper implementation plan, namely the Ethereum 3.0 architecture. CasperLabs Highway is a Byzantine fault-tolerant consensus protocol that provides the required high-level security protection for non-permissioned chains. There is an impossible triangle in the development of blockchain technology: scalability, decentralization, and security cannot be achieved at the same time. CasperLab's characteristic Highway can both prove security (mainly based on CBC Casper (correct-by-construction) and Casper Proof of Stake (PoS)), and allow sharding and synchronization, so as to achieve a faster and more efficient operation rate, and then achieve the effect of decentralized network operation.
On this basis, CasperLabs is mainly aimed at solving some problems that hinder the large-scale application of public chain technology, the most important of which is "sacrificing security for expansion". Under the PoW algorithm, the entire network needs to reach a consensus on the past state before the next batch of state updates can be carried out. There are indeed strict restrictions on operations, which limit the throughput and scalability of the entire network. However, CasperLabs has a concept of virtual machine states "Past Cone" and "Future Cone".
The "Past Cone" represents some states that have been observed by most nodes in the network but have not yet been finalized, and the "Future Cone" represents the state updates that are being processed and broadcast to the entire network. This means that multiple state updates can be broadcast to the entire network at the same time, providing greater throughput and scale.
Because the CBC Casper used by CasperLabs is different from Ethereum's PoS protocol, it reaches consensus based on the "heaviest block" rather than the order of transactions, which allows sharding and synchronization.
One of the main attractions of Casper, which is a development of CBC adapted for massive scaling and adoption, is support for WebAssembly (WASM), a programming language that is already used by 30 million developers worldwide. In comparison, it is estimated that only 200,000 developers are familiar with Ethereum’s main coding language, Solidity.
In addition to WebAssembly, Casper also supports Rust, Assembly, Script, and other languages that can be compiled to WASM. With a large number of impressive developers emerging, Casper should speed up the process of creating dapps. More importantly, Casper's gas fee model is designed to correct Ethereum's current predicament.
The relationship between Casper and Ethereum
There are currently two PoS implementations, both developed for Ethereum:
Casper CBC — Correct-by-Construction led by Vlad Zamfir
Casper FFG — Friendly Finality Gadget led by Ethereum co-founder Vitalik Buterin
Ethereum 2.0, which will be completed in 2022, will represent the Casper FFG version. In contrast, Casper CBC should be considered Ethereum 3.0, which is far behind in about 4 years.
Token Allocation
The total amount is 10 billion, and all of them have been released. As I said before, the proportion of coins held by the project party is too high. The current coin price is 0.05 US dollars, and the peak in 21 years was 38 US dollars, so now it has basically fallen.
To sum up, although it is called blockchain 3.0, most of the projects claiming to be blockchain 3.0 have not surpassed ETH.
Moreover, the current price and decline of the coin indicate that the project owner has not done a good job of market value management, including the fact that the project owner holds too high a proportion of the token. In addition, I have not found the TVL on the chain, and there are relatively few applications on the official website, so the project is still in a very early stage.
Official account: Data from May last year!
