Enterprises looking for scalable, secure, and flexible blockchain solutions increasingly recognize Casper, a layer-1 blockchain launched in 2021, as the right fit. Casper is designed to bridge the gap between blockchain technology and enterprise applications. It has a one-of-a-kind combination of features that truly fulfills the needs of decentralized finance (DeFi) organizations and traditional organizations alike. Casper is another impressive blockchain with a Proof-of-Stake (PoS) consensus mechanism that significantly improves its performance. Focusing heavily on upgradability and real-world applications, it becomes an appealing platform for enterprises looking to utilize blockchain technology.
Proof-of-Stake and Tokenomics
Casper operates an eco-friendly Proof-of-Stake (PoS) model. This new consensus mechanism is an immense leap forward for energy efficiency and the overall environmental impact of cryptocurrency—particularly compared to Proof-of-Work (PoW) systems. This is especially attractive to environmentally-friendly enterprises looking for eco-friendly blockchain solutions.
The network’s native token, $CSPR, powers the Casper ecosystem. Currently, it is utilized for transaction fees, staking rewards, and governance in network decisions.
Unlike other cryptos that have a predetermined supply, $CSPR has an inflationary token supply. To reward these validators for securing the network through the process of staking, new tokens are minted.
Highway Protocol and Casper 2.0
Casper's architecture is built around the Highway Protocol, a consensus mechanism rooted in Casper Correct-by-Construction (CBC) research from Ethereum's early development. This protocol provides instant finality of transactions. In addition, it delivers low-cost transaction fees and energy-efficient operations, addressing some of the biggest pain points of previous blockchain networks.
"💼 Real-world use cases demand real infrastructure." - Casper (@Casper_Network)
Casper 2.0 introduces a significant upgrade to the network. It presents the Zug Consensus, a more advanced version of the Highway Protocol. One of the key aspects of this upgrade are shorter block times, which means transactions are confirmed faster and the overall network performance is enhanced. With its multi-VM support, Casper 2.0 enables smart contracts to be executed in different environments, bringing additional flexibility and compatibility within the ecosystem.
"Casper 2.0 is architected for real-world assets and enterprise: supporting tokenization of real estate, financial instruments, intellectual property, and physical infrastructure — managing not just the assets, but the rules,…" - Casper (@Casper_Network)
Smart Contracts and Validator Expansion
Casper supports WebAssembly (Wasm), a powerful technology that gives developers more flexibility. It empowers them to code smart contracts in accessible and fun programming languages, such as Rust. This reduces the barrier to entry for developers and accelerates the development of rich, complex decentralized applications.
For instance, one of Casper’s flagship features is upgradable smart contracts. This unique capability allows for rapid, secure and compliance-focused digitization of assets and processes. This is especially important for enterprises in regulated industries. Most importantly, it provides them with the freedom to pivot and strengthen in accordance with evolving legal and compliance standards.
Casper, for example, is actively working to expand its validator set to promote decentralization and improve network security. This would expand the network’s validator cap of 100 to a maximum of 250 validators. This implementation will help distribute the control further and improve resilience to attacks.
