Ethereum Developers Introduce Casper Update Code To Change Consensus Mechanism
Developer Vlad Zamfir has published the first version of Casper software, with the help of which the consensus mechanism in the Ethereum blockchain will be changed from proof-of-work to proof-of-stake. Writes about this CoinDesk.
Casper was presented at the Devcon3 conference in the middle of the month, and his code appeared on Github this Tuesday. Casper will completely change the way blocks are created and distributed on the Ethereum network. It is worth noting that Casper Zamfira is only one of the versions of the software for updating the consensus mechanism. Ethereum creator Vitalik Buterin is developing his own version.
Zamfir’s code was published just a few days after the release of the white paper of the project called “Casper the Friendly Ghost”. The document describes “iterative consensus protocols” designed to facilitate the process of reaching consensus in a “partially synchronized network”. In other words, Casper will simplify the processes taking place in the blockchain..
Although the release of Zamfir’s code represents only a small milestone in a large-scale project, this step could herald the beginning of a completely new phase in the development of the Ethereum ecosystem..
Today miners discover and add new blocks through a proof-of-work process. The bitcoin blockchain works the same way, apart from some unique features..
As you know, this mining mechanism requires significant energy consumption, and the miners themselves have to buy high-performance equipment, the production of which, in particular, is carried out by AMD and Nivida, whose revenues have increased significantly against the background of the popularity of cryptocurrencies.
Casper will allow Ethereum to move away from this model entirely. When using the proof-of-stake consensus mechanism, miners fix a certain amount of funds, which is taken into account when distributing rewards for new blocks.
Photo: Inked Pixels
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