Casper blockchain network launches $25 million grant to support developers
Blockchain network Casper Association yesterday announced the launch of a $25 million Casper Accelerate Grant program. The goal of this funding grant is to support developers building apps to support infrastructure, end-user applications and research innovation on the Casper blockchain.
A proof-of-stake (PoS) platform, the enterprise-focused Casper blockchain aims to help businesses adopt blockchain technology and build private or permissioned applications. The portal is scheduled to be published in the first quarter of 2023.
According to board member Ralf Kubli,
“We are thrilled to announce the Casper Accelerate Grant program, which is carefully designed to support innovation and decentralized businesses that help grow the Casper ecosystem.”
PoS – The Future of Biz Friendly Blockchains?
Proof-of-stake has the potential to be a game changer for blockchain security. According to some, this technology is likely to render mining obsolete. And yet, we shouldn’t expect the end of crypto mining altogether.
In terms of level of decentralization, both proof-of-work (PoW) and proof-of-stake (PoS) consensus mechanisms have their limitations. While a PoW blockchain gets into the hands of those with high computing power, a PoS blockchain can instead be controlled by a handful of token hoarders.
Although PoS is still developing and has only been implemented on a few major blockchains such as Ethereum, it shows promise as an alternative to PoW.
Also, it is more environmentally friendly by using less electricity than a PoW system.
Last February, the BBC reported that Bitcoin mining used more electricity annually than Argentina, according to a Cambridge University analysis. It revealed that Bitcoin’s electricity consumption (121.36 TWh) surpassed Argentina (121 TWh), the Netherlands (108.8 TWh) and the United Arab Emirates (113.20 TWh). If Bitcoin were a country, it would be among the top 30 energy consumers globally.
As concerns about energy consumption increase, the relatively greener PoS mechanism may gain currency.
MarketScale published a story in September 2022 that looks at the impact among businesses of blockchains like Ethereum moving to PoS mechanism. Gabriella Kusz, CEO of the Global Digital Asset & Cryptocurrency Association, said that the Ethereum merger is a stage of maturation of the blockchain. She sees this development as “another step in the development of the blockchain.”
Casper Network is one of several crypto firms working with this global self-regulatory crypto association.
As there is further pressure on companies for ESG compliance, more and more businesses may choose PoS platforms instead of PoW for long-term purposes. In this likely scenario, there is actually an opportunity for groups like the Casper Association to incentivize blockchains for PoS mechanism use cases.
