Casper Network Full Analysis

The Casper Ecosystem

Casper Network is a decentralized layer 1 blockchain supported by WebAssembly (WASM) and backed by the original Proof-of-Stake Correct-By-Construction (CBC) Casper specification.

The Casper Network's stated vision is to accelerate enterprise adoption of blockchain technology by providing secure, scalable, and developer-friendly solutions to their business needs. To achieve this end, they have developed a unique set of features, making it appealing to small or large organizations' use cases. These features include upgradable smart contracts, public or private permission settings, predictable gas fees, low latency, on chain governance, and energy efficacy. They have made their network future-proof by allowing applications the flexibility to be modified according to the changing demands and adapting to the users' needs.

The project started in 2018, with the mainnet going live in March 2021. Q3 2022 will see the release of the Casper 2.0 protocol upgrade. The structure of Casper Network is as follows:

• Casper Association

A not-for-profit committed to supporting the evolution and decentralization of the network. Including the membership of the independent nodes running on the Casper Network.

• Casper Lab

An enterprise consultancy business providing support and services for enterprise clients building on Casper Network.

• Dev DAO

The independent and autonomous collective of developers oversees the proposals and grants to encourage building on Casper Network.

The Casper Network Protocol

The Casper Network is a public blockchain with a permission mechanism, allowing applications that run on it to be private, public, or hybrid. Casper uses a Proof-of-Stake consensus algorithm called Highway. The Highway protocol was created using the original Casper CBC specification (Correct-by-Construction), partly coded by Ethereum developers. Highway has two core benefits over the classic Byzantine Fault Tolerant mechanism. Firstly, Highway allows the network to attain higher thresholds of finality. Second, it achieves flexibility (meaning each node can use a different finality threshold) in ways classic BFT cannot.

The practical effect of these improvements is greater flexibility and is better optimized for security, higher throughput, and decentralization.

The Casper Network Compared to Other Layer-1 Blockchains

The Casper Network promises to be 'future-proof'. What steps has it taken to facilitate this? Well, for one, it's the only layer 1 that offers upgradeable smart contracts. The interface allows smart contracts to be upgraded on-chain, avoiding complex migration processes and allowing devs to fix vulnerabilities as they arise. Further, the Casper Network is designed to support WebAssembly, allowing existing web 2 developers to code in their native syntax and avoid learning proprietary languages such as Solidity.

The Casper Network also provides flexible privacy settings. Enterprises can choose a fully private deployment, utilize the public network or opt for a hybrid solution. Further steps to accelerate enterprise adoption and make the chain future-proof include predictable network fees. Casper has set transparent and predictable network fees to remove volatility and allow for consistent pricing. In addition, their user-friendly interface permits API integration into existing infrastructure, allowing teams to connect their projects more efficiently and quickly.

The Casper Network Team

First, let's take a look at the team. In the Casper Labs executive driving seat, we have CFO Daniel Marfurt, CMO Micheal Dobak, CEO Mrinal Manohar, CTO Medha Parlikar, and COO Cliff Sarkin.

The executive branch is joined by Engineering, Business Finance, and marketing divisions bringing the total full-time employees to 98, according to their Linkedin page. Collectively they draw experience from well-known organizations such as Adobe, AWS, Dropbox, Facebook, BainCapital, Harvard Law School, plus others.

Casper Network Partnerships

On a recent AMA, COO Sarkin teased some juicy still-under-wraps partnerships, including discussions with at least two household name EU banks, a prominent US telecommunications company, and two large Fortune 500 insurance companies. The confirmed working partnerships are impressive. In May 2022, CasperLabs entered an agreement to develop blockchain infrastructure with the Indian State of Telangana for their Government of Telangana Blockchain Initiative. The Telangana deal isn't the first government contract awarded to Casper. In 2021 they collaborated with UEA-based SJM Group of Companies to build out their local presence in the area.

Casper Joins IBM Partners Hyperledger Foundation and IPwe

In Sept 2022, Casper joined the Hyperledger Foundation, allowing the Hyperledger community to benefit from leveraging Caspers Hybrid blockchain solution. The Casper-Hyperldger arrangement follows an official Casper/ IBM Global Partner Program working relationship, giving IBM collaborators access to the Casper Network. A further IBM-connected partnership was formed that same year between Casper and the intellectual property fintech company IPwe. The agreement will see IPwe utilizing the Casper blockchain to secure, store and trace patent data.

Casper Partners with China's BSN

CasperLabs continues to expand its professional services and Engineering presence in China as they work together with China's Blockchain-based Service Network (BSN). The agreement will have CasperLabs build out an Open Permissioned Blockchain protocol to be used as the preferred blockchain for the City of Fuzhou

Casper Network Teams with Ariadne Business Analytics AG

The Casper Network teams up with Ariadne Business Analytics AG to create Nucleus Finance AG. Ariadne Business Analytics AG provides banks and financial services with next-generation software systems. Nucleus Finance merges specialised financial innovations with blockchain technology, to produce advanced financial services products like the tokenisation of commodities and digital securities, real-time verifiable audits and core banking system capabilities.

The CSPR Token

The native token on the Casper Network is the $CSPR. As a PoS network, the token is used for transaction fees, staking, and delegation. Current staking rewards are about 10% APY. The circulating supply is 13B, which represents 96% of the total. The current price sits at {{currentprice}}, which marks a {{percentagefromath}} drawdown from its ATH of $1.33. The token can be bought on Gate.io, Huobi Global, Kucoin, and other cryptocurrency exchanges.

Casper Network 2.0 Launch

Q4 is looking interesting for Casper. The Casper 2.0 launch promises a range of features and an improved user experience. The highlights include a new and enhanced consensus protocol. Labeled the ZUG protocol, it claims to be faster and more secure than its predecessor, the Highway protocol. The upgrade will see Casper unifying contracts, which will see that contracts have all the attributes of accounts, including being able to pay for transactions and stake on the network or upgrade to multi-signature. Currently, no other existing protocols offer this feature set. Further,2.0 will open up the validator model, allowing any network user to become a validator. The Casper 2.0 launch should be launched before 2023.

Where Can I Buy the CSPR Token?

CSPR tokens are available on Gate.io, OKX, Bithumb and Bitrue cryptocurrency exchanges.

Casper Network Price Analysis

As of November 24 2024 Casper Network has a marketcap of $210M. This is {{percentagefromath}} from its all time high of $1.33. In terms of its tokenomics, there's a total supply of 13B with 96% currently outstanding. Keep in mind Casper Network has a fully diluted value of $218M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.