Research and Development firm, CasperLabs funded by ADAPtive Holdings Ltd. is collaborating with Vlad Zamfir, an Ethereum expert. Vlad Zamfir is assuming the role of Lead Consensus Protocol Architect, according to an announcement published by CasperLabs on February 23.
The firm is seeking to develop a Proof of Stake (PoS) protocol, based on Vlad Zamfir’s work on the in-development Ethereum correct by construction (CBC) Casper protocol. The new decentralized technology ensures to scale the blockchain without losing decentralization through proof of stake consensus.
Commenting on the collaboration, Vlad Zamfir stated:
“I’m excited that CasperLabs has taken an interest in implementing a scalable blockchain protocol from the CBC Casper family of protocols, and hope that their efforts are both independently successful and put pressure on other projects (like Ethereum) to adopt the technology. I am very grateful for CasperLabs’ support of my research and look forward to working with them to see it become a reality.”
Zamfir further explained that blockchain technology had generated an opportunity for the protocol to solve problems that had earlier required more dependence on corporations and more trust in authority.
The technology superimposes a correct by construction (CBC) consensus protocol with the market and incentive design to guarantee the reliable execution of transactions.
The technology also ensures to scale the blockchain without losing decentralization through proof of stake consensus. By eliminating the mining required by traditional Proof of Work protocols, it will be more ecologically and economically efficient and reliable than pre-existing systems.
Scalability in blockchain landscape is not the only hurdle; many blockchain infrastructures use unique programming languages, which pushes developers to invest extra time to learn the language.
CasperLabs has chosen to use WebAssembly, a formally tested standard, which handles several existing and broadly adopted programming languages.
According to the announcement, Mrinal Manohar, Co-founder and CEO of ADAPtive Holdings stated – “The goal of CasperLabs is to create a high-performance multi-threaded execution environment that can enable thousands of transactions per second, solving the enormous scaling issues prevalent with existing protocols. Unlike other ‘gen 2.0 blockchains,’ this is delivered without sacrificing decentralization.”
Manohar, further explained that this project can serve as a base for the beginning of millions of decentralized businesses and applications. The project could provide the stimulus that many large enterprises require to move towards distributed ledger technology.
We have to watch out, whether the Bitcoin and Ethereum blockchain communities will upgrade their protocols.