Abstract

In 2019, CasperLabs introduces a blockchain platform that it believes incorporates all the features required for mainstream adoption. These are outlined in the detailed sections of this technical specification.

  1. Consensus Method: CasperLabs strives to be the first to deploy an implementation of the Correct-by-Construction Casper Proof-of-Stake consensus protocol as described here by Vlad Zamfir, Ethereum Foundation Researcher and Lead CBC-Casper Architect for CasperLabs.

  2. Throughput: By implementing a consensus protocol that reserves its computation capacity for actual computational work rather than PoW math problems, and through other network on protocol design decisions, CasperLabs' blockchain can achieve significantly higher throughput.

  3. Concurrent Execution: CasperLabs' execution engine is multi-threaded and allows for multiple dApps (Smart Contracts) to be executed concurrently. On the consensus protocol level, multiple validators are also allowed to propose blocks concurrently.

  4. Side Chains: CasperLabs enables customization and free-market innovation through side chains, whereby chains can exist in the network with entirely unique parameters and configuration. For example, the fee model for a child chain may be unique to its published specialization (e.g. a "storage chain"), or a it may provide ultra-low-latency and fast block finality for specialized dApps such as distributed exchanges.

  5. Open to All Programming Languages: Rather than introducing a new, proprietary and obscure programming language for the development of dApps, CasperLabs' execution engine is based on WebAssembly, or Wasm, the open standard put forward by the W3C. Wasm is a binary instruction format that is designed as a target for compilation of high-level languages like C, C++, Rust and many others. In fact, community projects to develop compilation targets for Wasm in almost all high-level languages are underway or encouraged. This open approach allows any software engineer to start developing on CasperLabs' blockchain immediately.

  6. Fully Decentralized: CasperLabs believes in full decentralization on all levels, specifically: (1) the operation of the blockchain network shall be open to anyone. No master-nodes shall be sold, in fact master-nodes don't exist in the network. No special roles shall be delegated. Equal opportunity shall exist for all that wish to operate network nodes. (2) development of the software shall be open source and community driven. While CasperLabs is excited to take a leading role in the development of the blockchain software initially, it expects the community to take over the lead after the initial launch of the network and encourages community participation in the software development at all times. (3) governance of the network shall be community driven. CasperLabs believes that decentralized networks should be governed by their community of stakeholders, and not by centralized entities or disproportionally by one category of stakeholders. Governance principles will be put forth to ensure this.