Casper Network (CSPR): An Overview of the Project
CSPR, the native token of the Casper Network blockchain, is the system’s lifeblood. Currently ranked 109th on CoinGecko’s market capitalization rankings, it rewards validators for keeping the network secure and stable.
Project mission
Casper Network is an open-source blockchain network that operates on the Proof-of-Stake consensus algorithm. The network achieves consensus using the Correct-by-Construction (CBC) Casper protocol, which is an innovative and unique approach.
Casper Network's test and main networks were created by Casper Labs, which comprises experienced experts from leading Web2 and Web3 companies:
- Mrinal Manohar, the CEO of Casper Labs, is a former employee of Microsoft, Bain, and Bain Capital. He is also an early investor in Ethereum and a hedge fund manager with $1 billion in capital;
- Medha Parlikar is Casper Labs' CTO. She brings with her a wealth of experience from her time at Adobe, Omniture, and MP3.com.
- Cliff Sarkin is Casper Labs' COO. He has previously worked as Vice President of DNA.Fund, a blockchain investment fund.
- Daniel Marfurt is the CFO of the company with expertise in finance and management in the fintech industry. He served as Head of Operations at Status.im.
Source: medium.com
Features and benefits of the project
Casper is a blockchain network designed for developers and enterprises alike. It boasts a universal solution to the scalability trilemma, providing users with a secure, high-throughput, and decentralized network.
Casper Network offers unique features such as:
- Upgradable smart contracts, which simplify vulnerability patching and migration processes;
- Network fees, which ensure gas prices are predictable and transparent, without other networks' volatility;
- Flexible privacy options;
- Network governance;
- Developer-friendly languages, with WebAssembly support that caters to a wide range of programming expertise.
Interested in CSPR token? Here's what you need to know
Purpose
Casper Network's native token, CSPR, was launched on March 31, 2021.
Initially, the release of the cryptocurrency CSPR was carried out through an initial public offering (IPO) on the CoinList platform. Later on, the token became available for users on popular cryptocurrency exchanges.
CSPR serves as a reward for validators who participate in the Proof-of-Stake consensus mechanism. Additionally, network users can pay network fees via these tokens. For instance, transferring tokens incurs a cost of 0.1 CSPR, and the minimum amount for a transaction is 2.5 CSPR.
Issuance and distribution
A total of 10 billion tokens were in circulation during the mainnet launch. The annual inflation rate is 8%.
Source: Reddit
The tokens are allocated as follows:
- Casper Association (nonprofit entity) – 12,6%;
- Private validator sale R1 – 19,9%;
- Private validator sale R2 – 10,5%;
- Developer incentives – 16%;
- Casper Labs Holding AG – 10%;
- Team – 8%;
- Advisors – 6%;
- Coinlist public sales – 17%.
Up-to-date market outlook
Casper Network (CSPR) has a circulating supply of 10,834,851,061 coins at the time of writing, according to Coingecko.com. The coin is trading at $0.036, with a market capitalization of $399,923,717 and a daily trading volume of $6,047,424.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
