CasperLabs, a Research and Development company for blockchain based in New York, has announced the appointment of a new Consensus Protocol Architect, Vlad Zamfir.
Speculations have it that CasperLabs might be trying to compete with Ethereum as Zamfir was a lead developer for Ethereum.
The new appointee reportedly expressed in March 2017 that Ethereum, the second biggest crypto in the world, is unsafe, unscalable and largely underdeveloped. Vlad advised the general crypto industry to be circumspect about a heavy dependence on Ethereum especially when said dependence is not inevitable.
CasperLabs is currently working on improving on the correct-by-construction Casper Proof-of-Stake (PoS) Ethereum (ETH) consensus algorithm. The “coin age” which is how old a customer’s assets are, is largely considered when selecting block creators in Proof-of-Stake (PoS) crypto. Another factor considered is the strength of the user’s assets.
PoS Blockchain Improvability
A co-founder of Ethereum – Vitalik Buterin – expressed in December of 2018 that the PoS blockchains to be made with sharding in the future, would fundamentally be “thousands of times more efficient.”
Consequently, more decentralized applications (DApps) would be a lot more feasible and useful because this level of proficiency will make it a lot more affordable, costing a small fee compared to the present costs.
Future Consensus Protocols
Vlad Zamfir has gone on to state that there is a strong possibility of creating PoS consensus protocols that will be a lot safer and more iron-clad than the blockchain frameworks presently available. He however added his reservations about the general possibility of advancements.
He said “I am not sure if the Bitcoin and Ethereum blockchain communities are going to be able to upgrade their protocols.” Speaking in adulation about Casper, Zamfir says
“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 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.”