Is there a final evolution of Ethereum that nobody's talking about?
Some people might think that's downright scary.
Now, I know a few weeks ago was Halloween,
but today we're going to dive into Casper.
Boo!
Not everybody's favorite friendly ghost,
but the blockchain.
Not only does this coin have the opportunity to change things permanently
in smart contracts for Web3,
this layer 1 proof-of-stake project and its entire ecosystem is one to watch.
And who knows?
It could be a 10X to 20X in the next bull run.
And you may be wondering,
how is this project capable of mind-boggling gains?
Find out today.
Let's get it!
Welcome to BitBoy Crypto!
My name is Ben.
Today, we are talking about Casper.
CasperLabs actually launched back in 2018.
And their mainnet came online last year.
Self-described as the future proof of blockchain,
the team set out to build a better blockchain than Ethereum.
They call themselves future proof
because they're the first live proof-of-stake blockchain built on Casper CBC.
And that stands for Correct-by-Construction.
This is a new specification that can take you down all kinds of rabbit holes of technicals.
But let's talk about what the layman needs to know.
What's the end goal here?
It's to put adoption into ludicrous speed
by making things easier for traditional devs to come over to the blockchain world,
which will make blockchain more accessible for normal business applications.
Efficacy, data storage, records, etc.
They got their name because when a block is validated on their chain,
a fork copy of the blockchain is also created.
And that copy is known as a ghost chain.
Hence the name Casper.
While Halloween was actually Bitcoin's 14th birthday since the whitepaper was written,
this was Casper's 4th birthday.
Now, the Casper CBC is already capable
of what people expect the Ethereum blockchain to be capable of
when it fully transitions to Ethereum 3.0,
which is why the Casper Network refers to itself as the final evolution of Ethereum.
Now, this project is for the developer by the developer.
It's a decentralized, permissionless, enterprise proof-of-stake layer 1.
Now, what does enterprise proof-of-stake mean?
This is how gemini.com explains it.
Enterprise blockchain is a term used to describe blockchain systems
that are typically used by large corporations for record keeping, data storage,
and numerous other transaction and business types.
Viable long-term enterprise blockchain systems must consist of three main characteristics---
scalability, decentralization, and security---
in order to be sustainable for most real-world enterprise uses.
Enterprise blockchains are typically systems capable of the extreme scalability
needed to process transactions very quickly because of the large amount of data
that is regularly sent and received by large corporations.
Enterprise blockchain systems can be either private, public, or hybrid systems.
So their goal is to solve issues for large corporations
with data storage and record keeping
while not making sacrifices with security, scalability and decentralization.
A lot of you guys know those three areas make up what's known as the blockchain trilemma,
something almost every project had to solve at some point.
So this is what separates Casper from the bunch.
Most blockchains use complicated language such as Ethereum does with Solidity
that makes it very difficult for developers from the traditional world of the web
to port over to blockchain.
They have to learn an entirely new language.
In contrast,
Casper uses Rust and WebAssembly, also known as WASM.
These are much more common languages for developers,
which opens the door for many more people to come in and put adoption into ludicrous speed.
And more devs equals better devs equals better dApps and applications on the blockchain.
CasperLabs also created the Caspiler.
The Caspiler converts Solidity into Rust.
This lowers the difficulty bar and simplifies the situation for everyone.
About 25,000 devs know how to use Solidity,
while over 25 million know how to use Rust.
Now, if you've watched my videos on Cardano,
you would know that the Plutus smart contract language kind of does the same thing.
It makes it easier for devs to come into crypto and build on Cardano.
One of the reasons why we love Cardano.
So it makes sense that this would be a reason that we love Casper.
Another factor that separates Casper from the crowd
is their upgradable smart contracts.
Casper is the only blockchain that has upgradable smart contracts.
And, yes, that also applies to contracts that have already been deployed on the chain.
This is very useful,
especially in fields where customers' needs and priorities can change drastically and quickly.
This will help immensely to solve the problem of how to handle those changes.
Project's well funded.
And, of course, like many projects,
they've had their head down building during the entire bear market.
They've accomplished scaling without compromise.
They've made the upgradable smart contracts.
They've established low predictable gas fees
and a platform up to speed for the demands of the real work environment.
But it only gets better from here.
With Casper 2.0,
the Zug protocol will increase efficiency
by allowing validators to process multiple blocks at the same time.
This is huge.
This update will unify accounts and contracts,
where everything on Casper is a smart contract,
and they're all upgradable.
This makes for a very user-friendly experience
and will make it much easier to onboard the next 100 million people.
They're adopting an open validator model,
which will allow anyone who wants to become a validator to become one.
Now, Casper 2.0 is still being built.
You can expect it to come out sometime on the first half of next year.
Now, our research team actually talked to one of the co-founders, Steve Careaga,
and asked him what he thought was important with the project.
He said,
"It's still very early for Casper.
The bear market has been quite an opportunity that has leveled the playing field.
A lot of projects have been knocked down back to Earth,
and the question is,
which layer 1s will rise?
I think Casper is one of those projects."
He also laughed and said,
"The next six months are going to be a wild ride."
Now, in terms of tokenomics,
the circulating supply is 10.4 billion coins,
and the market cap is only $420 million, approximately.
And here's a good point for beginners.
The low market cap in contrast to its high supply is why it trades at a low price,
only about 4¢ at the time of this recording.
The top 56 projects in crypto,
well, they all have at least a $1 billion market cap as of now.
You can think of $1 billion as the Mendoza Line.
Projects above that,
well, they're pretty set.
Projects below that,
things can be a little sketchy, and they're still very speculative.
That's not a hard line rule.
Of course, there are projects in the top 56 that won't make it,
but it's a good standard to go by.
And it's only a matter of time before Casper breaks into that billionaire club
and see a huge run for it in the next bull run.
And just think about this.
If it hits $1 billion dollars,
it's going to more than 2X the price of the coin.
To put this into perspective,
if Casper had the same market cap, let's say, as Dogecoin,
it would be $1.62.
And a 40X?
Well, that sounds good to me.
And if we were just going to go to the top of the last bull run,
it topped out at 24¢.
6X?
Eh, not bad.
Let me know what you guys think about Casper Network.
Can it compete?
Drop your comments down below.
That's all I got.
Be blessed.
BitBoy out.