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Ethereum Casper Date

Lightning Network For Ethereum? Eth Surges As Casper Approaches

Lightning Network For Ethereum? Eth Surges As Casper Approaches

Lightning Network For Ethereum? ETH Surges as Casper Approaches Lightning Network For Ethereum? ETH Surges as Casper Approaches As Bitcoin calms down after its latest roller-coaster ride, Ethereum has soared to unprecedented heights. The coin briefly peaked at just over $900 on January 2nd, and appears to be heading back up and beyond following a brief dip at the time of press. 2017 was a year of eye-popping growth for the cryptocurrency markets at large, and the rise of Ethereum was undoubtedly one of the most significant parts of the crypto journey throughout the year. According to Ethereums official blog, transactional volume on the ETH blockchain has more than doubled within the last several months. The network has reportedly processed an average of ten transactions per second for periods lasting as long as a few days. While ten tx/second may not seem to be much compared to the 24,000 tx/second capabilities of the Visa network, its more than double the average Bitcoins 4 tx/second. Ethereum also reported that the number of accounts created per day passed 100,000 as well as an increase of nodes (computers that uphold a blockchains network) despite rising system requirements. While much of Ethereums rise throughout the year can be contributed to the blossoming era of ICOs and several regulatory measures that legitimized Ethereum as legal tender in several countries throughout the world, the most recent rise could be attributed to the approaching Casper software update that will improve security and scalability on the Ethereum network. Although Bitcoins scalability issues have received quite a bit more publicity than Ethereums, implementing a scalability solution for the Ethereum network has become an increasingly urgent task as the network supports a growing number o Continue reading >>

Ethereum's Proof Of Stake Casper Testnet Nears Launch

Ethereum's Proof Of Stake Casper Testnet Nears Launch

One of the biggest upgrade in ethereum, and perhaps in the entire ecosystem, might be closer to implementation than previously thought, withLane Rettig, a researcher at the Ethereum Foundation, stating : Casper FFG testnet is coming. Weve got a three-node network working with two validators. Still a few bugs to work out. Whitepapers are cool and all but seeing this come to life is amazing. Casper Friendly Finality Gadget (FFG) is a hybrid Proof of Stake (PoS) and Proof of Work (PoW) implementation developed by Vitalik Buterin, ethereums inventor, and others. This implementation is apparently sufficiently advanced to the extent it could even be incorporated in the next ethereum upgrade, Constantinople Metropolis. According to Ethnews, Buterin said : Theoretically, Casper may well be at the stage where we may actually just try doing it for the next fork, even if that sounds ambitious. There is no estimated date for the second Metropolis fork as far as we are aware. Initially, the intention was to have just one Metropolis upgrade, but some aspects were taking far too long, while much else had been finalized. Developers therefore split it into Byzantium and Constantinople, with Byzantium going through just a few weeks ago. Constantinople is now expected next and might potentially incorporate Casper. The Casper testnet is, as the name says, an environment where they can test the first version of PoS. That means the code is not finalized, but has taken form rather than being at the theoretical design stage. The purpose of the testnet is to firstly ensure security and secondly to refine it fully as coders see how it works in a virtual lab environment. It is the last stage of any upgrade, before it goes to main-net, and indicates a live launch might be just months away. When e Continue reading >>

When Will Ethereum Mining End?

When Will Ethereum Mining End?

In August of this year (2017), Vitalik Buterin, creator of Ethereum , released the implementation guide for the first version of Casper. As a hybrid proof-of-stake (PoS)/proof-of-work (PoW) algorithm, Casper v1 is going to decrease (and eventually end) the profitability for Ethereum miners . The release date is estimated to be sometime in 2018 as part of the Constantinople hard fork and theres a lot to learn before this happens: Casper is a PoS algorithm thats projected to be released on the Ethereum network sometime in 2018. Beginning as a hybrid with the current PoW algorithm, the first version of Casper will only use a PoS consensus to validate every 100th block, called checkpoints. Once a checkpoint is validated, theres no way to go back and use a chain without it. Even if 99% of miners support a chain that doesnt include a checkpoint block, all clients in the network will still continue to use the one with the checkpoints. This removes a lot of the power that miners currently have. The Ethereum community hypothesizes that the switch to PoS will help with the scaling issues that the network is currently facing. The algorithm should enable new blocks to be created more quickly while allowing the network to scale more efficiently through sharding. Sharding is a horizontal partitioning of a large database into smaller and more easily managed parts. Beyond that, PoS algorithms also use less energy to run the network, reduce centralization, and make 51% attacks more difficult. With the upcoming hard fork, there could potentially be three forks of Ethereum: And, if youre a miner, you may be thinking, No big deal, Ill just continue to mine and give support to the Ethereum PoW fork. The Ethereum developers have stated that theyll be releasing what they call the difficulty Continue reading >>

Lightning Network For Ethereum? Eth Surges As Casper Approaches

Lightning Network For Ethereum? Eth Surges As Casper Approaches

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Update On The Ethereums Casper Pos Hybrid And Sharding

Update On The Ethereums Casper Pos Hybrid And Sharding

All seems to be going well for development at the worlds second most valuable cryptocurrency. The team at the Ethereum foundation is actively busy testing the latest featured of the Metropolis upgrade . One of the most important of these features was the movement from Proof-of-Work mining to Proof-of-Stake. Ethereum has been working on a hybrid between the two solutions that has aptly been named the Casper POS protocol . This has been on the Testnet and has been running for a few weeks already. According to Vitalik Buterin who is the founder of Ethereum: The Casper aspect of Casper, where two conflicting blocks should not be able to be finalized, seems to actually happen running and the network agrees all along what the final chain is Although the Casper Hybrid has been running in the testing environment, it has not been without a few problems. Apparently the nodes losing their connection and get floods of new connections so the developers have had to institute clever hacks to get around this. This means that the Ethereum developers will have to complete quite a bit more testing before there can be any sort of live implementation of the protocol. However, according to Buterin it seems as if the most important part of the upgrade is indeed effective. This is the manner in which conflicting nodes are able to reach a network consensus. With the minor reconnection issues corrected, it is entirely possible that we could see Casper hitting the Mainnet by the middle of the year. There has also been quite a lot of work that has been done on the sharding side. This is arguably one of the most important updates to blockchain technology ever as it aims to markedly decrease transaction times. Blockchain sharding uses parallelisation of blockchains. This will eliminate the ineffici Continue reading >>

Vlad Zamfir On Twitter: Casper Release Date

Vlad Zamfir On Twitter: Casper Release Date "soon" - Ethtrader

Vlad Zamfir on Twitter: Casper release date "soon" I like Vlad, he wished us all a Merry Christmas :) I was only exposed to him recently when kitties took our network under siege. Someone mentioned some FUD about ethereum scaling and attributed it to him. I then found the source and Vlad was well-written, clearly passionate, and very smart. The FUD ended up just being FUD of course Oh, when he literally said that ETH isn't secure or scalable. can you point out where he said that please? (I sold all my ETH for $16) Hmm... I rather wait for them to show a little bit more than just the numbers. They have an internal testnet and public testnet out this year. Ive never seen a more competent team as Zilliqa, ask them any technical question on Slack and theyll respond thoroughly. Zilliqa sold out in presale, there was a small community round but too late for that. Everyone are waiting to buy on exchange for those ICX gains. I hate ICOs like that. The polkadot ICO was the most honest and fair ICO I've ever seen so far. It tells a lot about a project. But I check Zilliqa once their tokens are out The reason it sold out was because eth suddenly doubled over a week. They planned to have 50% 50% presale/ico contribution. They used Bitcoinsuisse. But Polkadot lost all their eth...and collected so much as well. I really dont like reverse dutch auctions which is basically an uncapped raise. Zilliqa stuck to their 20m + 2mil community and i prefer that to deciding to raise an unlimited amount. You have a point on the Cap - it's a good thing. From my understanding: Named after the cartoon "Casper the friendly ghost" is an upgrade that will help change ethereum from proof of work (PoW) to proof of stake (PoS). PoW - is what we have now lots of graphics cards mining and confirming transa Continue reading >>

What Is Ethereum Casper Protocol? Crash Course

What Is Ethereum Casper Protocol? Crash Course

What is Ethereum Casper Protocol? Crash Course Angel Investors, Startups & Blockchain developers... If you are interested in Ethereum or Cryptocurrency in general, then you must be aware of the terms proof-of-stake and Ethereum Casper. There is no running away from these terms, they are everywhere. Now because there is so much data out there, anyone interested in the topic may go through paralysis via analysis. So, in this guide, we present to you the definitive guide to Casper and how it will change Ethereum forever. What is Ethereum Casper Protocol? Crash Course Most cryptocurrencies including Bitcoin run on proof-of-work. Proof-of-work as a process has the following steps to it: The miners solve cryptographic puzzles to mine a block to add to the blockchain . This process requires an immense amount of energy and computational usage. The puzzles have been designed in a way which makes it hard and taxing on the system. When a miner solves the puzzle, they present their block to the network for verification. Verifying whether the block belongs to the chain or not is an extremely simple process. That, in essence, is what the proof-of-work system is. Solving the puzzle is difficult but checking whether the solution is actually correct or not is easy. This is the system that Bitcoin and Ethereum (till now) have been using. However, there are some fundamental flaws in the system. As it turns out, there are quite a few problems with proof-of-work. First and foremost, proof of work is an extremely inefficient process because of the sheer amount of power and energy that it eats up. People and organizations that can afford faster and more powerful ASICs usually have a better chance of mining than the others. As a result of this, bitcoin isnt as decentralized as it wants to be. Continue reading >>

What Is The Current State Of Casper?

What Is The Current State Of Casper?

I've been reading a bit about Casper, but I couldn't find anything recent nor any technical details about it. I know the protocol is not finished but is there any information about it? I mean more than just a high level overview as one can read in the "Introducing Casper" post on the blog Also I was wondering if they were still working on Slasher or if it had been completely forsaken? Ethnews also had a recent article about it . According to them, a profitable POS validator will need a minimum of 1000 to 4000eth just to cover their gas cost. At $200/eth that's $200k $800k invested and locked up just to participate. The irony is that POS was suppose to improve democratization but instead it ensures only the very wealthy will be able to participate. How funny, better start saving now! Continue reading >>

How Ethereum's Casper Protocol Will Address Problems With Proof Of Stake

How Ethereum's Casper Protocol Will Address Problems With Proof Of Stake

How Ethereum's Casper Protocol Will Address Problems With Proof Of Stake Bitcoin and Ethereum both currently operate under a Proof of Work protocol. Ethereum is moving from Proof of Work towards Proof of Stake under its new Casper protocol. Despite its many benefits, the drawbacks of Proof of Stake have prevented its widespread adoption. Casper aims to solve Proof of Stake's drawbacks, resulting in an improvement over existing Proof of Work and Proof of Stake protocols. The updated protocol improves the long term outlook of Ethereum's valuation. An overarching problem that cryptocurrencies must address is called the Byzantine General's Problem . The Byzantine General's Problem essentially simplifies down to: How do you prevent data from being corrupted or falsified in a network where there are nodes that have economic incentive to lie about the data? In application to cryptocurrency, the problem boils down to preventing attackers from lying about a coin's ledger, given the economic incentive of doing so. We need a way to form consensus on the ledger because anyone can create a block, while we only want a unique chain, so we want a way to decide which block to trust. The two main schools of thought to solving the Byzantine General's Problem are Proof of Work (PoW) and Proof of Stake (PoS). Explicitly, a "proof of work" is a piece of data which is difficult (costly, time-consuming) to produce but easy for others to verify and which satisfies certain requirements. Producing a proof of work can be a random process with low probability so that a lot of trial and error is required on average before a valid proof of work is generated. Currently Bitcoin, Ethereum, and the vast majority of other cryptocurrencies utilize some form of proof of work. PoW (referring to the protocol Continue reading >>

Vitalik Buterin Says I Will Leave Ethereum If Immaturity Continues

Vitalik Buterin Says I Will Leave Ethereum If Immaturity Continues

Could Ethereum creator Vitalik Buterin pull a Satoshi Nakamoto by disappearing into the ether as it were? Buterin just admitted its a possibility, if rampant immaturity and meme mania continue to dominate the ETH community as opposed to a genuine focus on technological benefits to society at large. Join the Bitsonline Telegram channel to get the latest Bitcoin, cryptocurrency, and tech news updates: Vitalik Buterin: Heed These Words of Warning Buterin created Ethereum as a platform upon which developers could build a better future for the world in the coming years. But the 23-year-old Russian-Canadian programmer is growing increasingly frustrated with the pettiness he sees sloshing around the cryptocurrency ecosystem in general. Buterin began airing out this frustration by retweeting a doomfully predictive tweet from early Bitcoin evangelist and software developer Amir Taaki, who called Bitcoin a failed project. Taaki wrote: Bitcoin is turning into a failed project. The seeds of its destruction among the debris of a community blinded by numerical price increases, and imminent divine reclamation. One day you will all understand my words but it will be too late, the ship would have sailed. Amir Taaki (@AmirPolyteknik) December 26, 2017 Adding to Taakis points, Buterin laid out his own: *All* crypto communities, ethereum included, should heed these words of warning. Need to differentiate between getting hundreds of billions of dollars of digital paper wealth sloshing around and actually achieving something meaningful for society. *All* crypto communities, ethereum included, should heed these words of warning. Need to differentiate between getting hundreds of billions of dollars of digital paper wealth sloshing around and actually achieving something meaningful for society Continue reading >>

What Is The Ethereum Casper Protocol?

What Is The Ethereum Casper Protocol?

written by Jonnie Emsley February 7, 2018 The term Casper has been popping up lately in the Ethereum community like a whack-a-mole. Youll even see it hitting headlines alongside ETHs recent 30% spike in value , with punters explaining the upwards explosion as sheer anticipation of what Casper will do for Ethereum. With the successful launch of the Casper Testnet on the last day of 2017, excitement in the Ethereum community is gathering the momentum of a runaway freight train. Still, while everyone revs up for a Casper-supercharged world computer, its release date is as elusive and mysterious as a poltergeist, with Ethereums developers loosely announcing it will occur some time this year. But before we get ahead of ourselves, lets break it down and have a look at Ethereums ghostly counterpart. Casper is a hard fork of Ethereum that solves many of the underlying issues holding the cryptocurrency back from mass adoption. At its core, Casper aims to enhance Ethereums security and reduce the risk of centralization, while eliminating the financially and environmentally unsustainable practice of mining. Casper marks a shift to the Proof-of-Stake protocol, but it will start out as a hybrid with the current Proof-of-Work . In practice, this means that the PoS will only be used every 100th block. All details are exceedingly vague at this stage, but the eventual outcome of Casper could result in three versions (forks) of Ethereum: PoS, PoW, and Classic. As we count down to the Casper fork, Ethereum miners are starting to bite their nails. Why? It is highly probable that the transition to PoS will mark the end of Ethereum mining, as ETHs developers plan to detonate a difficulty bomb on the PoW fork when they release Casper. The bomb is a piece of Ethereum code that by design makes Continue reading >>

Ethereum Casper Hardfork Details

Ethereum Casper Hardfork Details

Ethereum Casper Hardfork details ahead of launch Twitter CEO Says Bitcoin Will Replace US Dollar There is an exciting upgrade to Ethereum upcoming. A revolution in cryptocurrency, it transforms ETH into a dividend-producing asset. Lets take a look at the Ethereum Casper Hardfork details ahead of launch. 30 November, AtoZForex Ethereum developers are seeking to launch their experimental Casper proof-of-stake protocol. Developed by Ethereum inventor Vitalik Buterin, Casper Friendly Finality Gadget (FFG) is a hybrid Proof of Stake (PoS) and Proof of Work (PoW) implementation. Ethereum Proof of Stake Casper Testnet in the pipeline With the protocol, developers are able to test the first version of PoS when the code has taken form only rather than being at a theoretical design stage. It ensures security as well as gives the coders options to refine it fully as they see how it works in a virtual lab environment. Once the implementation is complete, Ethereum will get benefits in scalability through lowered confirmation times. More importantly, ETH will become a dividend-producing asset or currency or investment. Thats because ETH itself will be using for partial mining, to begin with, and then eventually full mining. The ETH tokens themselves will validate the network and instead of huge hardware mining farms, there will be only just ETH-locked laptop nodes. That locked ETH will provide interest, like a savings account, with holders transitioning towards paying themselves, if they please, rather than paying for miners, electricity, or hardware. However, the nature of PoS requires some level of continued inflation at 2% or less annually. As it has a fixed rate, it may price in. And also it might even amount to effectively 0% because of lost ETH, similar to how pennies get forg Continue reading >>

Ethereum Launches Casper Testnet, Paving The Way For Proof-of-stake

Ethereum Launches Casper Testnet, Paving The Way For Proof-of-stake

Ethereum Launches Casper Testnet, Paving the Way for Proof-of-Stake Ethereum developers have launched an alpha test network (testnet) for Casper, paving the way for the cryptocurrency to eventually transition to a proof-of-stake (PoS) consensus algorithm. Like bitcoin, ethereum currently operates on a proof-of-work (PoW) consensus algorithm, meaning that the network is secured and new currency units are issued through mining, whereby participants solve cryptographic puzzles to validate transactions and create new blocks. However, PoW has attracted criticism over the years, both for its tendency to centralize mining hardware into a few pools and for the amount of electricity it consumes. Ethereum aims to address these problems by transitioning to Casper , a proof-of-stake (PoS) consensus algorithm. Under Casper, participants can become validators by locking up or staking ether. Validators will take turns proposing and voting on blocks, and both the weight of their votes and the size of their rewards will hinge on the size of their stakes. According to developers, moving to Casper will greatly reduce the amount of electricity wasted through PoW mining. In addition to limiting its environmental impact, PoS will allow ethereum to dramatically reduce its rate of currency inflation since validators will have much lower overhead and will thus require smaller rewards to incentivize them to continue to serve as validators. Moreover, PoS will also reduce the incentive that validators have to centralize their influence. With decreased centralization comes increased security and, importantly, resistance to dreaded 51 percent attacks. Ethereum is not the first project to attempt to integrate a PoS consensus algorithm. However, most previous PoS implementations have been criticized Continue reading >>

Death Of Ethereum Mining? Casper Implementation Date

Death Of Ethereum Mining? Casper Implementation Date

Death of Ethereum Mining? Casper Implementation Date We all know Casper is coming, and with it, the shift to PoS and eventually the "Ethereum Ice Age" But does anyone know when this day will come? When will Phase 1 of Casper happen, where every 100th block is PoS? Quote from: mmbingo on December 24, 2017, 02:16:03 AM We all know Casper is coming, and with it, the shift to PoS and eventually the "Ethereum Ice Age" But does anyone know when this day will come? When will Phase 1 of Casper happen, where every 100th block is PoS? My god no one FUCKING knows stop with these stupid ass questions. Its like asking ppl to tell you what the price of BTC will be at the end of the years , even worse a worse question actually since no one here is an engineer working on it god just stop. It could be 2-4 th quarter 2018 it could be 2019 who knows Also remember to bring a pink unicorn t-shirt as gift otherwise he won't tell you sh**t Last edit: January 14, 2018, 06:06:05 PM by Vann No further updates about the the upcoming Constantinople fork were provided at the last Etherum Foundation core developer meeting on Friday other than saying further updates should be provided at the next meeting in two weeks, some discussion about implementing account abstraction in Constantinople and a shout-out to BBT While Proof of Stake is a very promising consensus mechanism, it's also a very complex system to fully implement. Casper involves a long and drawn out process of consensus conversion. While the goal is to completely switch to PoS down the road, implementing such a mechanism has to be done gradually to sustain a healthy blockchain. While there's no official release date, Casper is currently in Alpha and only supports Pythereum. Before it can ever be implemented on the main net, they'll have t Continue reading >>

Part One Of Ethereum's Sharding Roadmap Is Nearly Done

Part One Of Ethereum's Sharding Roadmap Is Nearly Done

Part One of Ethereum's Sharding Roadmap Is Nearly Done Jan 26, 2018 at 17:10 UTC|UpdatedJan 27, 2018 at 02:39 UTC Ethereum is getting closer to deploying new technology that would allow the network to scale, its founder said. "It seems like part one of phase one is getting something like being already done," Vitalik Buterin said in a developer meeting. The technology, known as sharding,attempts to split the ethereum blockchain's data into more manageable parts. Pointing to an initial spec posted on Github, Buterin said: "It's theoretically a good spec of what minimal sharding is going to look like." Ethereum is under pressure to keep up with the rising popularity of the platform, which has led to slower transaction times and high processing fees. The congestion has already led some token-based projects to build atop other blockchains such as Stellar . Buterin went to state that the next phase of the four-stage scaling proposal will be completed in "a month and a bit," adding that development work will likely circulate on stateless clients, a type of ethereum software that does not need to process the complete history of the platform. "Then from there we're going to try and shard it into a working test, a kind of test network," the ethereum founder said. In the meeting, Buterin also reflected on Casper, ethereum's new consensus protocol that is currently in testing. As detailed by CoinDesk , the test network has been derailed by issues with the software it deploys. However, Buterin said that in spite of hiccups, the core of the project is sound, or as he put it: "the Casper aspect of Casper... is totally successful." Still, with the code yet to be adapted for use across different ethereum software clients, he acknowledged: "That's on a bit of a back burner for now." The Continue reading >>

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