$CSPR, the main token of the Casper project this past week, has seen a 28% increase in just 24 hours, despite the negativel signals from the crypto market.
Currently, worldwide communities are talking a lot about this project, and at the same time, the CSPR token is highly appreciated by users on the platforms.
What explains this surge?
Casper is a decentralized Layer 1 Proof-of-Stake, designed to enhance the adoption of blockchain technology and innovation for business projects.
Casper Blockchain is built so developers can be one step ahead in the:
What makes Casper unique from other Layer 1
This project develops a special consensus protocol called CBC Casper (Correct-by-Construction Casper). CBC Casper allows flexibly changing blocks' processing time based on the blockchain's capacity, which helps the network process transactions efficiently and saves time.
The Highway consensus mechanism, built on top of CBC Casper, will also be an essential factor in increasing the processing limit and flexibility of the network.
Large enterprises targeting
Casper's feature allows projects and enterprises to freely change the nature of the network (public, permissioned or private network) as needed.
Long-term visibility with development tools and extensions
Casper tools and features help users navigate and plan to prepare for their projects. Casper allows for the creation of upgradeable contracts, on-chain data management, and especially for predictable network usage fees, making it easier for developers to estimate costs and plan things out.
Casper's infrastructure supports blockchain sharding, which expands and speeds up the network as more and more data and transactions need to be processed.
Planning the Future
In informing the community about its future direction, Casper is developing Casper 2.0, intending to develop according to the roadmap of Ethereum 3.0:
- New and improved consensus mechanism: faster, secure with consensus protocol Highway
- Consolidation of accounts and contracts: Casper stores everything as a contract with the properties of an account
- Extended validator model
Overall, what Casper is aiming for is stability. and extensive features, making it easy for projects to plan, estimate costs, and have the tools and infrastructure to grow simultaneously.
Notable parameters from Casper
Important news affecting the token price
UpHold - a cloud financial services platform supporting more than 300 asset pairs, has just announced a staking plan for the $CSPR token with 9 .25% APY, the highest interest rate compared to other platforms.
Reacting to this news, the project governance token price, $CSPR saw a 28% increase in just 24 hours, and this token also had other positive results, with 19% growth for the week and 38% in the last month.
Currently, the $CSPR price is moving around the 0.034-0.037 price zone and shows no signs of cooling off after the aforementioned significant rally.
As seen in the data above, on October 6, $CSPR peaked in total token exchange volume.
Profit Distribution for Validator
$CSPR has an annual inflation rate of 8% distributed to validators and delegators as a reward for the tokens they stake to provide security to the blockchain.
According to the data provided by Casper Stat, Casper currently has 100 Validators, and the project also pays 10.63% APY for $CSPR token staking.
According to profit margin calculation, if a user currently participates in Casper staking with 10,000 CSPR tokens (equivalent to $3550), in 1 year, that user will receive 9385 tokens, equivalent to $333 APY, equivalent to 9.3% after deducting all costs for Validator.
Proof of building a strong community, Casper recorded massive growth in social in the past month.
According to data from LunarCrush, Casper's social media mentions increased by 74.5% in 7 days and 49.2% in the past month.
Social media interaction: increased by 222.2% in 7 days, 95% in September.
With the keyword #Casper on Twitter, the interaction can be seen on this social media platform.
The number of interactions began to increase sharply from October 8, and the number of interactions increased continuously in a short time.
If CSPR is known from a while ago, staking this token can still be risky. Around the beginning of May, CSPR's token had split in two from its value at the time, along with liquidity risks as many frustrated investors withdrew from the market. The token price is still sideway after the sharp drop in May.
However, according to what Casper has committed, the project is still under stable development with a great community. Investing in Casper is still possible.
Casper is built so businesses and projects of all sizes can choose between public, private networks, or hybrid solutions with low and predictable costs.
These positive figures show that Casper plans to develop in the right direction. This can be considered a bridge that helps connect and expand crypto with projects and businesses of all sizes.
With clear plans, will this layer 1 explode in the future?