According to reports via industry website Coindesk, a new model of the Casper update based on the Ether network has been provided in a bid for client developers and auditors to conduct more extensive scrutiny. Danny Ryan a company representative and also the developer behind the Finality Gadget from Casper via a statement on Coindesk, has posted the new version of the series to GitHub. The version is 0.1.0.
What Does This Entail?
According to Ryan, the code “v0.1.0” indicates the beginning of an initiative that attempts to tag fresh releases “and help clients as well as external auditors to track or scrutinize changes and contracts easily.” Casper FFG is only the first Casper version update and is meant to alter the way consensus is achieved across the Ether platform. Casper FFC is designed to manage Ethereum’s move from the traditional Proof-of-Work algorithm to a merger of Proof-of-Stake and PoW. Hence as opposed to ‘mining,’ the new algorithm will use a voting system to verify or validate any alterations to the Ether Blockchain. Under the new system, the validators will need to put down deposits of the Ether token, which they could risk losing should they try to cheat.
In the initial phases, Casper will continue to depend primarily on PoW, while PoS is going to be used to validate “checkpoints” periodically. Because of the limited number of verification nodes that can be utilized by the network at this stage, the least deposit will begin at 1,500 Ether tokens. The goal here is for Ether to move to PoS permanently and for the least deposit to be reduced. Version 0.1.0, tagged “the first release,” can’t be implemented yet, because more code has to be written for ETH customers. The code also has to be examined by external auditors. In today’s trading, the Ethereum price stood at $747.48, as of 15:29 BST. The digital currency has gained 1.5% in the past 24 hours, according to data from cryptocurrency tracker Coinmarketcap.