- Casper is one of the fastest-growing blockchain projects that looks to solve the trilemma by implementing a unique “correct-by-construction” mechanism.
- In the last month, the project has also introduced more than 140 projects, exchanges, partners, NFTs, and Web3 applications to the chain.
- The team has also announced that an on-chain wallet, multi-platform, and multi-browser, is scheduled to launch soon.
- Casper (CSPR) has been one of the best-performing cryptos, gaining 36% in the last month, which has been predominantly bearish.
Casper is a decentralized layer-one proof-of-stake (PoS) blockchain that aims to solve the blockchain trilemma of scalability, security, and decentralization by implementing its unique consensus mechanism called ‘Correct-by-Construction.’
The network is designed to accelerate enterprise and developer adoption of blockchain through the use of WebAssembly (WASM), which allows developers to easily build bridges from their existing systems to blockchain applications using traditional coding languages.
Casper gives developers the option to change smart contracts deployed on the chain to new agreements made by the parties involved, allowing businesses or enterprises the flexibility to add new features or remove any bugs from the on-chain code.
CSPR is the native token of the Casper chain, which has been designed to accelerate developer adoption of blockchain technology.
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Casper’s surge in popularity is hinged on the project being one of the fastest-developing blockchain networks. In September, Casper announced the launch of over 140 (and counting) projects, exchanges, partners, NFTs, and Web3 applications.
The Casper NFT standard, CEP-78, provides superior scalability, support, and efficient tools for managing, owning, and trading NFTs. Casper NFTs have upgrade patterns with improved mutability of on-chain metadata.
On October 6th, Casper announced the launch of staking on the Uphold wallet. Staking with Uphold allows holders of CSPR to earn an annual product yield (APY) of 9.25% APY, one of the highest rates around.
Another benefit of staking CSPR with the Uphold wallet is the 0% commission rate charged, passing 100% of rewards directly to CSPR Stakers. After weeks of development, Casper has also deployed a new online hub on the Casper Network.
The team has also announced an update to the circulating supply of CSPR. According to the update, the Casper circulating supply (now 10.4 billion CSPR) reports all tokens that are unlocked and transferrable.
All the while cryptocurrency prices have been in the red with Bitcoin (BTC), Ethereum (ETH), and other altcoins falling, Casper (CSPR) has been rallying, drawing the attention of investors in the crypto space.
The 24-hour price chart for Casper (CSPR). Source: CoinMarketCap
Casper is up by 8% over the last 24 hours and is the biggest gainer in the crypto market on October 7th. In the last week, the price of CSPR has risen by 18.6% and more than 36% in the last month, making it the second-best performing crypto through the bearish market.
The 30-day price chart for Casper (CSPR). Source: CoinMarketCap
The strong performance has seen the price of Casper (CSPR) rise from $0.026 to as high as $0.03772, which is close to its 3-month high. The rally has also pushed Casper into the top 100 ranked cryptos. Casper is now ranked 93rd, with a market cap of $367 million.
The Casper Team recently announced that its developers are working on a new generation of the Casper Signer. While details were few, the team noted that the update will come with several features updates, including an on-chain wallet, multi-platform, and multi-browser.
The team is also developing a Casper Membership Portal, which aims to make the Casper Network more transparent and trustworthy. The portal will also give members access to unique privileges and rewards.
In addition, validators will be able to participate in votes and the governance of the Casper Association through the portal. The Membership Portal is said to be in the final stages of development.
On the Flipside
- Despite being built with some of the most advanced smart contract technology, Casper is yet to enjoy the adoption of more prominent chains like Ethereum, Solana, Binance Smart Chain, or Avalanche.
As one of the fastest-growing projects, the Casper community is also growing at a quick rate. Not only is the community growing at a blisteringly fast pace, but they are also strong believers in the prospects of Casper.
Comparing Casper to other projects, crypto trader Jamil Kayz maintained high praise for the project. Kayz wrote:
Every XRP holder should pay attention to Casper - CSPR. Built from ground up. It is what Ethereum wants to be guys built the proper way with upgradeable smart contracts, pre-determined gas fees (cheappp), secure addressing and meeting the Trifflin Dilema. This thing under 5 cents pic.twitter.com/PgWnkCZOep— Jamil Kayz (@jamminJKayz) September 19, 2022
Bullish about the prospects of Casper, Eugenius wrote on Twitter:
Congratulations @Casper_Network on joining the @CoinMarketCap Top 100, The Train is entering the station, grab a seat and relax folks as we navigate further up the rankings throughout the coming years $CSPR— Eugenius (@Eugenius1) October 6, 2022
Another user, @niftyinvest shared his opinions about CSPR, writing:
Still an inflationary #layer1 but it looks like all early round investors of @Casper_Network now have their tokens— NiFTy (@niftyinvest) October 6, 2022
Looks like $CSPR has just started to move
One #altcoin with an excellent risk/reward ratio at current prices imo pic.twitter.com/OIT0VSGbfC
Why You Should Care
Casper has one of the highest prospects among crypto projects. The smart contracts technology of Casper has the potential to change the way projects are coded and allow developers to build on their blockchain using any computer language. This drastically increases the potential use cases for the Casper blockchain.