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Sunday, February 24, 2019

Is CasperLabs Ready to Compete with Ethereum?

Is CasperLabs Ready to Compete with Ethereum?

After months of speculation, it was confirmed that Vlad Zamfir, the leading developer of Ethereum, would work with CasperLabs on a different blockchain protocol. Will CasperLabs compete with Ethereum? CasperLabs, based in New York, is an R&D initiative that builds a new Proof-of-Stake (PoS) decentralized blockchain.

In a statement issued by Vlad Zamfir this week: "I believe that the decentralized and measurable 'share proof' consensus protocol is more useful and safe than existing blocks, and ultimately overrides mining consensus and Nakamoto. However, I'm not sure they can update the Bitchain and Ethereum blockchain community protocols."

This prompted him to accept the role of Leader of the Leader Consensus Leader at CasperLabs, but Ethereum and management will continue to work on the Evidence-of-Stake. Are there conflicts of interest?

In August 2015, CasperLabs was named according to the Casper protocol proposed by Zamfir for Ethereum. This initiative introduces itself as a competitor to Ethereum, presenting stronger PoS technology and mass scalability. On Friday, Zamfir clarified his contradictory role in the CasperLabs and Ethereum Foundation in Manhattan.

In a press release Friday morning, Zamfir praised the initiative and said: "I am interested in implementing a scalable blockchain protocol from the CasperLabs CBC Casper family of protocols, and I hope this effort succeeds and suppresses other projects (such as Ethereum) to adopt technology. I am grateful to support my CasperLabs research, and I hope to work with them to see that happen."

The CEO of CasperLabs development team Medha Parlikar and leading Casper developer Michael Birch pledged to scale the blockchain without sacrificing decentralization such as removing mining needed by the traditional Evidence Work protocol, and pledging to be more efficient and ecologically and economically safe.