Casper Coin – What is it?
What do you know about Casper Coin and the Casper network?
Launched in March 2021, Casper is a Proof of Stake, layer 1 blockchain designed exclusively to boost the adoption of smart contracts, decentralised applications (Dapps), and blockchain technology on a global scale.
Built from the Casper CBC (Correct by Construction) specification, the project has grown steadily since its launch and currently has a market cap of just under $300 billion (December 2022).
The Casper chain has been designed with future-proof architecture to ensure its continual development and flexibility to evolve around the needs of its users. With user-friendliness high on the list of priorities, the chain has been specifically designed to accelerate the adoption of Web3 by encouraging the growth of intuitive and interoperable services across its ecosystem.
The Casper network native token is Casper Coin, or CSPR. It has a circulating supply of 10.5 billion, just 700 million short of its total supply of 11.2 billion. The total market cap of CSPR is currently $283 billion.
In an effort to clear up some confusion regarding circulating supply, the project was quick to respond to concerns from its community. The team reported that some 80% of CSPR in circulation is staked and bonded to the network. That means any volatility in trading is certain to impact token price, good or bad.
At current prices ($0.028), the Casper Coin price is some 97.9% off its all-time high of $1.36, which presents an ideal time to buy. Getting hold of CSPR tokens is relatively straightforward, with a growing number of exchanges, including KuCoin, Gate.io, and Huobi, all offering USDT trading pairs.
The steady growth of the blockchain and predictable tokenomics make Casper Coin a popular investment choice. Furthermore, Casper's versatility, predictable gas fees, and future-proof design make the project an attractive option for developers.
As a Proof of Stake-based consensus protocol, Casper is some 1,360 times more carbon efficient than the Bitcoin network. The innovation behind the CBC protocol ensures that the scalability and database management solutions are ever present, making the network a popular place to build Web3 Dapps.
The project is the result of years of research and development from the teams at CasperLabs, who have vast experience gained at enterprise-level software giants such as Adobe, Alvara, and Google.
CasperLabs has positioned itself as the 'de facto' blockchain enterprise solution for teams looking to build decentralised projects in the Web3 environment. The dedicated level of developer support is what makes the team at Casper stand apart from other competing projects.
As a Proof of Stake consensus network, Casper relies on token staking by validator nodes to secure its network. Proof of Stake is not only much greener than its rival Proof of Work, but it also offers much greater opportunities for scalability and developer versatility.
The CBC protocol has been designed to use an upgraded version of Byzantium Fault Tolerance applications and is, therefore, resilient to hacks and bad actors. This enterprise-level security design means that Casper has completed several security audits, including a Trail of Bits audit in January 2021 which concluded that the Casper network “showed proper use of security hygiene”.
Transparent road map
When you consider the security audits, enterprise-level infrastructure, flexibility, and solid team behind the project, it is easy to see why Casper and its native token, CSPR, is an attractive buy for crypto traders and investors alike.
Apart from some recent confusion regarding what actually constitutes circulating supply, the team at Casper presents an attractive ecosystem with a transparent road map for the future.
If the project can maintain its so far impressive momentum and deliver on its promise of enterprise-level, scalable and flexible Web3 solutions, the Casper Coin price has every chance of gaining significant upside in the near to medium term future.
Author: Brendan Beeken
Moni Talks Founder and Chairman Brendan Beeken is an entrepreneur, commercial strategist, investor, and philanthropist. He writes on a wide range of subjects, including cryptocurrency, decentralised finance, blockchain, business advice, and professional wellbeing, for news and business websites, as well as Latest Moni and his personal site, brendanbeeken.com. Brendan draws from his own research and more than two decades of personal experience in business to offer a unique insight, perspective, and commentary on diverse subjects. He is passionate about making the cryptocurrency space more accessible and encouraging safer and more responsible trading and investing. Brendan's LinkTree is https://linktr.ee/brendanbeeken.