A consortium of four researchers in virtual currency has decided to present a draft document related to Casper's solution that aims to solve the scalability problems of Ethereum. The main intention is to move to a Proof of Stake (PoS) consent algorithm for Ethereum.
The document is not finished yet nor the final version, however it provides important information on the future development of the Ethereum network. The white paper follows the idea of creating a decentralized and efficient scalable "world computer".
Ethereum (ETH) is one of the largest and most valuable projects in the virtual currency market. He has attracted investors and developers all over the world and has now become the second largest project in terms of market capitalization after Bitcoin, and even bigger than Ripple.
When the network reached unexpectedly high levels of adoption, the blockchain was unable to support the number of daily transactions that Ethereum was managing. This shows that the consent mechanism of the PoW did not have the pretext of receiving such a large influx of users.
This is why Vlad Zamfir and three other recognized developers have decided to launch the Casper technical paper. The title of the white paper is "Introducing the family of consent protocols" Minimal CBC Casper ".
The document is written in a very technical way and aims at highlighting the mechanism and the decentralized consent protocol of Casper Correct-By Construction (CBC). This would allow the creation and development of an efficient PoS system to be implemented on the Ethereum network. It is important to stress that this has been one of the main objectives of Ethereum since the beginning.
Since there is still time to develop this solution, the paper is still in the drafting phase. The project could help Ethereum continue its growth path in the virtual currency market.
Just a few days ago, Vitalik Buterin, principal developer and co-founder of Ethereum, said that Serenity would be implemented first. The new protocol could facilitate the consensus of the PoS, faster times for synchronous confirmation and scalability of 1,000 times on the upside. This is quite important as it will be a solution to the short and medium term downsizing problems that the entire Ethereum network is currently facing.
Vitalik Buterin commented on this:
"There's definitely a place in our hearts and the heart of the Casper CBC roadmap [but only] when it becomes clear that there is a version that makes sense from a top view. "
Serenity will clearly help Ethereum to scale while developers have Casper's solution ready for deployment.