Vitalik Buterin hints that Casper is closer than ever to being finished

16 Aug, 2018
by Arthur Sillers
Vitalik Buterin hints that Casper is closer than ever to being finished

Vitalik Buterin, in a series of 71 Tweets, gave details on the history and status of Ethereum's Casper research project.

Casper is a proof-of-stake protocol currently being developed to provide Ethereum as a way to scale efficiently enough to power, for example, the gargantuan number of transactions per second that a traditional credit card must be able to handle. Vitalik Buterin is the co-founder of the Ethereum blockchain, and an insider into the development of the Casper protocol, which many hope will point the way forward for not only Ethereum, but the structure of blockchain based digital currencies.

Buterin notes in his description of the process that he and his partner Vlad Zamfir essentially took two different approaches to solving the problem, Buterin favoring Casper FFG (Casper the Friendly Finality Giant), and Vlad pursuing Casper CBC (Correct by Construction). CBC came about from Zamfir's research on the underlying mechanisms behind consensus algorithms, and largely is a new theoretical invention of his.

Both engineers and the Ethereum team at large have been developing the protocols separately, and both have made great strides forward, such that at this point they have become two different projects.

Buterin ended the discussion on Casper noting that both projects in fact are close to deployment, only needing 'formal proofs, refinements to the specification, and ongoing progress on implementation' before they are ready to be unleashed.

For blockchain to replace the role that traditional digital payment systems have for financial institutions currently, it will have to overcome concerns about scale. Blockchain technology has a lot of benefits for these institutions, including security and decentralization, but as blockchains expand, they are unable to quickly process the number of transactions required for traditional finance. For this reason, anyone watching blockchain should be excited about the news that Casper, a protocol which could bridge the gap between Ethereum and traditional finance platforms, is close to completion.

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Read more about: Ethereum (ETH)


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