Casper is a blockchain that is designed to be a more efficient, secure, and scalable alternative to existing blockchains. Casper is the name of a particular type of blockchain consensus protocol, sometimes referred to as a “proof-of-stake” (PoS) consensus mechanism.
In contrast to traditional blockchain consensus protocols, such as proof-of-work (PoW), Casper is designed to be more energy-efficient and secure. PoW blockchains require miners to expend large amounts of energy in order to solve complex mathematical problems, which can be costly and environmentally damaging. In contrast, Casper requires users to stake a certain amount of cryptocurrency in order to participate in the consensus process. This incentivizes users to act honestly and discourages attack vectors such as a 51% attack.
The Casper protocol is based on a concept called “validator bonding”. This means that users who want to participate in the consensus process must first stake a certain amount of cryptocurrency. This stake can then be used as collateral in case the user tries to act maliciously or dishonestly. If the user acts in such a way, they will lose their stake, which provides an incentive to act honestly.
Founder: Medha Parlikar
Proof Of Stake
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