First Version of the Ethereum Protocol Casper Has Been Released
November 22, 2017
The launch of a new phase of Ethereum development is marked by the release of the first version of Casper (a protocol based on Proof-of-Stake aimed at improving Ethereum), which must bring about fundamental changes in the network infrastructure in the nearest future.
Casper's tasks are to completely change the principles of creating and distributing Ethereum blocks. The greatest attention is paid to Correct-by-Construction protocols, which simplify the whole blockchain.
So far, miners have extracted new blocks using rather an energy-consuming method of Proof-of-Work, while Casper suggests giving up this model. Using Proof-of-Stake, users can temporarily freeze some of their tokens and receive bonuses as new ones appear. Switching to this model will positively affect the entire network.
Moreover, the developers announced they were planning to use an experimental protocol code as the basis for a new test network.
It is worth noting that on October 16 a new fork Byzantium appeared in the Ethereum network. The update gave rise to the development of Proof-of-Stake in the framework of the large-scale fork Metropolis.