There has been a lot of speculation going on in Casper’s community and a lot of the community members believe this project to be the new big thing in the market. It is regarded to be an underdog in the crypto market. CSPR coin established its all-time high nine months ago at $1.36 and the price has lost 98% of its value ever since but the current bearishness of the token has not deterred the strong predictions of the bullishness of the cryptocurrency. At the time of writing, the cryptocurrency stands at a price level of $0.085 with a minor downside movement during the day.
What is Casper (CSPR)?
Casper is a relatively new project in the industry as it was officially launched in March 2021; however, it has garnered plenty of attention because of its interesting value proposition to the crypto industry. It is the first live Proof-of-Stake blockchain which makes it all the more interesting as it benefits from a first-mover advantage. The underlying infrastructure of the network is the CBC Casper specification which was originally designed by the developers of Ethereum.
The network is essentially designed to further the growth and adoption of the blockchain industry and is especially geared towards enterprise adoption of blockchains which is why it offers some state-of-the-art features. It enables businesses to build applications of their choice and it is highly scalable. The POS architecture is also optimized for sharding which is known for its scalable prowess. Moreover, Casper is also futureproofed which means that it is the blockchain for the future. Smart contracts are dynamic as they can be upgraded and networks can evolve with the changing needs of businesses.
Is it the next big thing?
Some users’ prediction that Casper will become the next big thing may not be too far off as the network has managed to become the blockchain of choice for the Chinese city of Fuzhou – in a country that is known for its strict stance on cryptocurrencies. This is hailed as a hallmark moment in the growth trajectory of the network. The token also recently became available on one of the major crypto exchanges – crypto.com. The blockchain has also taken a nosedive into the world of NFTs as a lot of major NFTs have been made on the blockchain which further cements its strong position in the market.
