Developers of Casper released the update. The network community and stakeholders now have the opportunity to keep track of and post comments. Casper will bring the change of the consensus mechanism Ethereums of PoW on PoS.
The Ethereum community has been waiting for the Casper update for some time. The innovation in the network should replace the from the point of view of many users inherited proof-of-work algorithm. Instead, the proof-of-stake is to define a new way of reaching consensus. The proof-of-work mechanism is said to be too energy-intensive and thus sustainably harm the environment.
Danny Ryan, Developer of Casper FFG, has released the code on Github on May 8th. This is version 0.1.0. This should provide a clearer guideline and give clients and external auditors the ability to track the contract and changes more easily.
Also on Reddit Ryan posted the progress that was made in the development of Casper.
“Not only is the research team now using the contract – auditors, client developers, etc. – and we wanted to start publishing clearer versioning and change logs to help everyone stay organized.”
This also results in the desire to take the community with them and to participate in the next steps.
The update should not completely replace the PoW algorithm, but for the time being introduce a hybrid mix of proof-of-work and proof-of-stake algorithms. In the initial stages, Casper will use the proof of work to do most of the transactions. The proof-of-stake should be used only for the regular validation of “checkpoints”. Since the network can only manage a few validating nodes, the minimum deposit will start at 1,500 ethers or $ 1.1 million.
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Categories: Crypto Currency