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About Casper (CSPR)
CSPR is the native token of the Casper Network, a pioneering smart-contracts platform rooted in speed, flexibility and the same “Casper CBC” protocols underpinning Ethereum’s transformation to Proof-of-Stake (PoS) consensus, only slightly different.
At its core, Casper could be described as a public, enterprise-focused PoS blockchain but with several unique characteristics.
Complexly designed (by startup CasperLabs, co-founded in 2018 by Medha Parlikar, a veteran software engineer), the network's framework is purposely generic – like Ethereum, it is primary, "layer-1" underlying blockchain architecture. So while abstract enough to be super-versatile, it is also forward-mindedly flexible i.e. Casper caters to enterprise developers with their eye on building/solving for a "Web3.0" future, one in which the internet evolves into something way more decentralized, intuitive, and inter-connected.
- In blockchain-speak, Casper is actually a specific term of art, referring to the main components of multi-year, open-source research and development projects.
- CasperLabs' Casper Network is considered the first blockchain built using the Correct-by-Construction (CBC) consensus mechanism, that CasperLabs has tweaked and dubbed Highway; it’s said to be inspired by the Casper CBC research, led by Ethereum developer Vlad Zamfir, aimed at enabling that larger, better-known blockchain to change to more-energy-efficient PoS consensus, from Proof-of-Work (PoW), associated with high energy consumption. Thus, there's no shortage of confusion surrounding these protocols (Ethereum’s Casper and Casper’s Casper, which is Highway but branded Casper).
- The Casper Network project is targeting corporate clients who need help adopting blockchain technology.
How it works:
- With Casper's CBC construct, consensus-forming peer nodes ("validators") generate and pass around messages in pursuit of trying to reach consensus on newly created blocks, which is to put it very simply; an even more oversimplified explanation of the CBC premise comes courtesy of Casper researcher Aditya Asgaonkar: “only if there are a sufficiently high number of faults will something go wrong." The validators participating in the PoS consensus mechanism, upholding the network, are rewarded with CSPR tokens. These can also be used to pay network fees for activity on the Casper blockchain network.
- After beginning life as a development team working on proof-of-stake scaling for Ethereum 2.0, CasperLabs pivoted to building its own blockchain in April 2020.
- In February 2021, the team announced it had partnered with China’s Blockchain Service Network.
- Casper’s mainnet launch was on March 31. The protocol has since announced multiple collaborations including partnerships with Terra Virtua, BIGtoken, WISeKey, and Lead Ventures. The team also initiated the launch of the DEVvDAO, a platform that issues grants for open source development on the Casper network, Cointelegraph reported.
The current price of CSPR
As of mid-September 2021, CSPR cost approximately $ 0.10 USD, almost double what it cost in July 2021. However, it is still a far cry from the all-time high of $ 1.33 USD reached in May 2021.
CSPR's market capitalization is roughly $ 200 million, making it the 243rd largest cryptocurrency, as ranked by CoinGecko.
During the cryptocurrency correction of May 2021, with the major large-cap currencies losing ground, CSPR, the least known and smallest, was decimated.
Once it fell below 30 cents, CSPR was declining until mid-July 2021.
How is the price of Casper (CSPR) determined
More than 100,000 investors lined up for the initial phase of the CSPR pre-sale on CoinList and at the time (between late March and early April 2021) it was one of the platform's most successful initial token launches, Cointelegraph reported at the time.
Early investors were able to buy CSPR for an offer price of $ 0.03 but were subject to lock-in periods of 6 and 12 months.
The initial offering of CSPR in circulation: 400 million CSPR.
The currency is designed to be inflationary; CSPR's maximum bid (such as ETH) has not been defined. The goal is for block rewards to incentivize participation with algorithmically created future tokens to reward validators, ideally with (like ETH) single-digit annual inflation.
Okex, when describing the tokenomics of CSPR, refers to the fact that the price depends on increasing demand for the digital currency.
The inflation of the CSPR supply will gradually decrease against the number of coins in circulation.
What the bulls say about Casper (CSPR)
- "The project was introduced in order to solve what enterprise blockchain solutions face as they attempt to sustain the global acquisition of the company without making any notable sacrifices in scalability, security or speed, " said Mehardeep Singh of TechStory.
- "For an organization to achieve these goals, the Casper blockchain provides users with some features including upgradeable smart contracts that help reduce the need for costly, complex migration processes and quickly patch any ."
- The fact that CSPR has successfully implemented Casper's CBC positions itself as an effective testnet for the future development of ETH 3.0, said Ghost Staking, a team of quantitative analysts who provide their feedback on the market (in addition to managing a CSPR validator production node). "Which means", they said, "which will naturally attract the development of Ethereum projects seeking to obtain ".
- Casper "will definitely enter the list of the 100 best crypto projects with a market capitalization of $ 1 billion, " said the forecaster of .
What the bears say about Casper (CSPR)
- CSPR is risky and could fall dramatically in the next 12 months, according to the forecasting system of .
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