With the growing market for world’s second largest blockchain network – Ethereum, it becomes quintessential to address its scalability issues. With an intention to tackle such problems, a group of four prominent researchers are presenting a draft plan called – Casper CBC. The goal here is that ethereum to be implemented on ‘Proof of Stake’ consensus algorithm.
Although the document is not yet finished, the draft reveals a few important aspects of the upcoming implementation plan ahead. The white paper details on creating a scalable decentralized and efficient ‘world computer.’
The very reason behind this decision was due to an exponential growth of daily transaction rate on ethereum network. Indeed the current implementation of the Proof of Work(PoW) consensus algorithm is unable to handle an increased influx of active users.
Thus, in order to address these scablity issues, Vlad Zamfir and other three developers decided to design Casper Solutions. A white paper titled Introducing the ‘Minimal CBC Casper’ Family of Consensus Protocols is brought into the picture. It aims at highlighting Casper Correct-By Construction (CBC) decentralized consensus mechanism and protocol.
It is to be noted that, since the document is in its draft phase, Casper CBC is likely at least two or three years away from full implementation onto Ethereum’s main chain. But certainly, this move will help Ethereum blockchain to pioneer in the field of the virtual currency market.
Serenity first, Casper CBC later
The leader and front-face of Etherum blockchain Vitalik Buterin highlighted that Serenity will be implemented first and Casper to be released on later stages in the Prague-based Devcon4 event.
The new protocol could facilitate PoS consensus, faster times to synchronous confirmation, and 1,000x scalability upside. This is quite important since it will be a solution for the short and midterm scaling issues that the whole Ethereum network is currently facing.
Furthermore, Buterin went on to say that,
There’s definitely a place in our heart and the roadmap’s heart for Casper CBC [but only] when it becomes clear that there is a version that makes sense from an overhead view.
As of now, Serenity will help network Ethereum to scale while developers have the Casper solution ready for implementation.
Do you think this Casper CBC to be the ultimate solution for all the problems faced by Ethereum blockchain? Share your thoughts in below comment section.
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