What is Casper?
The Casper token or CSPR is the native token powering the Casper blockchain. The latter is an open-source blockchain based on Casper CBC specification.
CSPR has more than one use case. It mainly serves as a staking reward used to incentivize validators for securing the network. In addition, Casper tokens are needed to cover the transaction fees. CSPR also serves as a governance token.
There is a total supply of 10,000,000,000 Casper tokens. This could mean that as CSPR becomes more scarce, the Casper price will increase.
Since CSPR is a cryptocurrency, its price tends to fluctuate. In order to make an informed purchase decision, you can have a more in-depth look at the Casper price history or the current CSPR price on the graph above.
What are the Main Features of Casper?
Casper is a scalable blockchain network that’s available as both a Mainnet and a Testnet.
It’s considered to be developer-friendly through its support of Web Assembly. This means that any developer can start building on Casper without having to learn a new coding language like Solidity from scratch.
The base requirements to build on Casper are proficiency in Unix-based OS, system service scripting, and bash.
CasperLabs, the founding company of the Casper blockchain, describes Casper as a blockchain built specifically for enterprise adoption. This means that it aims to benefit businesses by providing the infrastructure needed to enter the world of blockchain.
Small businesses and large enterprises are given a suite of tools needed to build their own blockchain-based applications. Most importantly, they can choose whether they want to build a permissioned or permissionless application that’s operating on a private or public blockchain.
Moreover, these companies are empowered to upgrade their applications whenever they like without having to struggle with complex migrating processes. CasperLabs calls this feature “future proof” that ensures the blockchain evolves with time. Casper also provides its users with its own block explorers which help with network analysis.
Some of the projects built on Casper include IPwe, Metis, and ACDX.
Besides providing the Casper blockchain, CasperLabs also offer support for businesses that are using or want to use Casper for developing their project.
CasperLabs have signed a partnership with DEVxDAO. This means that blockchain-based startups looking for funding can apply for the DEVxDAO grants
Casper is secured with the Proof-of-Stake (PoS) consensus mechanism. In other words, the blockchain relies on validators who secure the network by staking their tokens. The CSPR token is a core element of the Casper blockchain that’s used to incentivize these validators.
Another advantage of the PoS consensus mechanism is its significantly lower computing power when compared to other consensus mechanisms like Proof-of-Work (PoW) that are used by the top-ranking blockchains like Bitcoin and Ethereum 1.0.
As discussed in the What is Casper section, the blockchain is built off CBC specifications. CBC stands for Correct-By-Construction which is a consensus protocol where nodes share the same proof of asynchronous liveness. CBC uses the upgraded Byzantine Fault Tolerance approach.
Don't forget to check the CSPR price on the graph above if you're considering purchasing this token.
Who Developed Casper?
The Casper crypto project was launched by CasperLabs, a Switzerland-based blockchain platform, in late 2018. Its co-founders are Medha Parlikar, Mrinal Manohar, and Jack Mills. Both Medha Parlikar and Mrinal Manohar are still with the project, taking the roles of CTO and CEO respectively.
Medha Parlikar has been in the computer industry since the early 80s. She started her first job as a software engineer at Compass Learning and has worked her way up to positions like Senior Manager at Adobe Systems, Director at Temboo, Sr. Director at Avalara, and blockchain Program Manager at Pyrofex.
Mrinal Manohar has successfully completed his studies at Carnegie Mellon University and earned an MSc. He has been in the crypto space since 2012 where he has invested in major blockchain-based projects such as Ethereum, Filecoin, Basis, Blockstack, and Maker. Prior to CasperLabs, Mrinal worked at Oracle, Microsoft, FBI, Bain & Company, Bain Capital, and Sagard Holdings.
The project is managed by the Casper Association - a nonprofit organization whose main responsibility is to empower the adoption of blockchain technologies by enterprises, specifically through the use of the Casper blockchain and its entire ecosystem.
Casper has partnered up with well-established companies such as HashKey Capital, BroadLeaf, SparkLabs, Diode Capital, and so much more.
