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What is Casper (CSPR)?
Casper basic info
What is Casper (CSPR)?
The Casper Network (CSPR) was a blockchain network launched on the mainnet on March 30, 2021, one of the first real-time Proof-of-Stake (PoS) projects built outside of the Casper CBC specification. The Casper platform is designed to boost the development of blockchain technology, smart contracts, and DApps.
In order to solve the problem of the existing Proof-of-Work (PoW), like spending too much computational power at a high operation cost, the Casper Network is using a PoS mechanism which is designed by Ethereum developers. And specialize in building private and decentralized applications for businesses.
The founder of Casper Network is the Casper Association, a non-profit entity that enables the evolution and decentralization of the Casper Network. It provides resources to help users to build decentralized applications on Casper and maintain its growing ecosystem.
How does Casper (CSPR) work?
Traditional blockchain networks like the Bitcoin network and the early stage of Ethereum are using the Proof-of-Work (PoW) mechanism. And compared to the PoW system, the PoS system does not require so many computational resources like electricity. So that a lower gas fee is required for the developers.
Here are the reasons why businesses and developers choose Casper:
User-friendly: Casper supports the upgrade of smart contracts on the chain without carrying on a complicated migration process with a lower gas fee. It’s way easier for developers to fix the bugs in smart contracts.
Easy to use: The Casper Network supports different programming languages, rather than supporting a specific type of programming language only. For developers, the process of developing a smart contract or D-Apps is simplified on the Casper network.
Transparent Network Fees: The setting of Caser Network is more transparent, open and predictable, like the pricing mechanism of gas price. All developers are able to access and control the spending of network fees.
What can CSPR tokens do?
CSPR token is the native token of Casper network.Here are the usages of CSPR:
Staking: The verification of the transactions on Casper is carried out based on the tokens for staking. They also receive the CSPR tokens as a reward for participating in the PoS mechanism.
Network Fee: As the Casper Network is maintained by the PoS mechanism, CSPR tokens are required to validate the node's operators.
How to buy CSPR on Bitget?
If you consider Casper a potential Blockchain project, you can start to find out more about its native token CSPR.
According to CoinMarketMap, the total supply of CSPR is 400 million. Approximately 183 million CSPR provided liquidity to exchanges.
The simplest way to buy CSPR is through cryptocurrency exchanges. You can establish an account with an exchange like Bitget, and then fund the account with fiat by credit card, Apple pay and Google pay.
Click here to check out the latest price of CSPR.
Disclaimer: All products and projects listed in this article are not endorsements and are provided for informational purposes only.
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CSPR supply and tokenomics
Uniqueness
Casper is a unique utilization of blockchain technology and the proof-of-stake (PoS) consensus method. Because of its completely decentralized approach, the network is extremely versatile in terms of use cases. Not only that, Casper boasts a future-proof design, with upgradeable smart contracts and predictable gas fees for transactions. Additionally, Casper is introducing a new standard for blockchain energy consumption, and is 136,000% more energy-efficient than Bitcoin .
The innovative Correct-by-Construction (CBC) Casper specification is a remarkable feature of the network. This specification allows for the rapid adoption of blockchain services on all enterprise levels. By relying on the PoS consensus, Casper ensures scalability and database management solutions. Casper and the CSPR token are the result of years of research by CasperLabs.
Further, CasperLabs exists to provide enterprise-level services and support for organizations building on the Casper Network, similar to how Red Hat supports organizations building within the Linux ecosystem. Thanks to the team’s unique experience running services at enterprise software organizations like Adobe, Avalara and Google, CasperLabs is uniquely poised to elevate Casper as the de facto blockchain for the growing number of enterprise organizations that want to build in Web3 environments, but require more dedicated levels of support than are possible from open-source, decentralized projects.
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What is the development prospect and future value of CSPR?
The market value of CSPR currently stands at $172.53M, and its market ranking is #296. The value of CSPR is not widely recognized by the market. When the bull market comes, the market value of CSPR may have great growth potential.
As a new type of currency with innovative technology and unique use cases, CSPR has broad market potential and significant room for development. The distinctiveness and appeal of CSPR may attract the interest of specific groups, thereby driving up its market value.