Blog / Coins / What Is Casper

What Is Casper

Sep 12, 2022
5 min read

This blog post will cover:

  • About Casper (CSPR)
  • Where did Casper (CSPR) come from?
  • What are the advantages of Casper (CSPR)?
  • What are the disadvantages of Casper (CSPR)?
  • How to buy Casper (CSPR)?

About Casper (CSPR)

CSPR is the native token of the Casper Network, a Layer-1 Proof-of-Stake blockchain designed to accelerate enterprise and developer adoption of blockchain technology and evolve to meet the needs of the future. It offers three types of deployment: private, hybrid, and public. Any enterprise can use the most suitable version and make a transition between them whenever needed.

A consensus protocol used by the network is called Highway and is based on Casper CBC (correct-by-construction). It is capable of providing higher thresholds of finality and helps to achieve flexibility.

The CSPR coin is used to reward the validators for participating in the PoS consensus. Blockchain users spend CSPR crypto on paying on-chain fees. In 2021 CSPR was listed via CoinList and at the time it became the largest token sale in the history of CoinList.

Over the last year and a half, the project has shown amazing results. At the moment Casper is one of the largest Proof-of-Stake blockchain projects.

Casper Labs CEO, Mrinal Manohar, is highly optimistic about the future of Casper. He believes that in spite of the market situation it will continue to develop. It is absolutely possible to see the real-life proof of this determination. For example, CasperLabs partnered with the State of Telangana, India to establish a permissioned network for building Web3 applications. Together with WISeKey they work to implement global NFT connectivity. With IBM they explore new areas of blockchain interoperability. And even more projects are in the pipeline soon to be launched.

Where did Casper (CSPR) come from?

The Casper project appeared in the most unexpected time, during the “crypto winter” in 2018. This was the time when the crypto industry builders with conviction in the technology focused on developing real-world solutions using blockchain.

In March 2021 Casper was launched on the mainnet. At the same time, Casper Association was established. It is a non-profit organization that stewards the ongoing development and decentralization of the public blockchain. The Casper Association is a Swiss entity headquarted in Zug, Switerzland is represented by a team of 26 professionals with members of the board represented by Patrick Storchenegger (chairman), Ralf Kubli (director) and Daniel Biesuz (director).

Casper Labs CEO and co-founder of Casper is Mrinal Manohar. In his work life he combines computer science and Wall Street investing. He graduated from Carnegie Mellon University and after that the ran the TMT sector of a $1B+ long-only hedge fund at Bain & Co., Bain Capital, and Sagard Holdings.

What are the advantages of Casper (CSPR)?

  1. Upgradable smart contracts
    The option to make data immutable or upgradable is the main feature for Casper smart contracts. Upgradeable infrastructure powers enduring and equitable innovation.
  2. Lower and predetermined gas fees
    Gas fees are predictable, they react to order size and transaction volume. The team is also working on an opportunity to reserve gas fees ahead, which would make it easier for enterprises to plan for the future.
  3. CSPR is available on more than twenty global exchanges
  4. CSPR is supported by 8 wallets, including Ledger
  5. Building on Casper is easy
    Developers do not need to know any specialized languages. Developers familiar with Rust and WASM can get started in a matter of days and not weeks or months as is common within the development on some other leading blockchains.
  6. New security standard
    Casper provides higher standards of validation that require at least two-thirds of validators for a consensus.

What are the disadvantages of Casper (CSPR)?

  1. Token value
    At the moment the price of CSPR is quite low.
  2. Casper is still in the early stages of development
    It may be seen as a disadvantage since it hasn’t reached its full potential yet.

How to buy Casper (CSPR)?

If you got interested and would like to explore all the possibilities of Casper, you are welcome to purchase the CSPR token. SimpleSwap is ready to help you. Please, follow the instructions below:

  1. Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  2. Select CSPR in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  3. Click the Exchange button.
  4. Enter the Recipient's Address.  CSPR crypto will be sent to this address. Be careful and make sure you use the correct address.
  5. Create the exchange.
  6. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to CSPR exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

Don’t miss our new articles!


Share on: