Vlad Zamfir, a Romanian researcher best known for his work on Ethereum, blockchain technology and blockchain governance, will collaborate with CasperLabs, an R&D organisation funded by ADAPtive Holdings Ltd., as Lead Consensus Protocol Architect, the company announced on its blog.
Zamfir said: “Blockchain technology has created an opportunity for protocol to solve problems that previously required more reliance on corporations and more trust in authority. The tech is still nascent, and it’s possible that protocols deployed today will not fulfill the promise of blockchain technology. I believe that decentralized, scalable, and secure public “proof-of-stake” consensus protocols that are much more usable and secure than existing blockchains are possible, and will eventually make mining and Nakamoto consensus obsolete. However, I am not sure if the Bitcoin and Ethereum blockchain communities are going to be able to upgrade their protocols.
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.”
The technology overlays a correct by construction (CBC) consensus protocol with market and incentive design to guarantee the faithful execution of transactions. The tech promises to scale the blockchain without sacrificing decentralization through proof of stake consensus. By removing the mining required by traditional Proof of Work protocols, it will be more ecologically and economically efficient and secure than pre-existing systems. In today’s blockchain landscape, scalability is not the only challenge. Many blockchain infrastructures use novel programming languages, which forces developers to invest additional time to learn the language. CasperLabs has opted to use WebAssembly, a formally verified standard, which supports several existing and widely adopted programming languages.
CEO and co-founder Mrinal Manohar said: “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 common with existing protocols. Unlike other “gen 2.0 blockchains” this is delivered without sacrificing decentralization. This project can serve as a foundation for the birth of millions of decentralized businesses and applications and we believe it could provide the impetus that many large enterprises need to move towards distributed ledger technology.”
CasperLabs is developing a fully decentralized, scalable, public blockchain designed for mass enterprise, developer, and consumer adoption. The team lead by CasperLabs CEO Medha Parlikar and Lead Casper Developer Michael Birch is developing a new open source blockchain project. The protocol uses CBC-Casper, a Correct by Construction, Proof of Stake consensus protocol that uses bonds and slashing (penalties) to secure the network. CasperLabs is sponsoring research done by top blockchain researcher, Vlad Zamfir, who is the Lead Architect of CBC Casper.