Under-the-Radar Ethereum Competitor Rises 30% in One Week as Bitcoin and Crypto Markets Move into Close Range
A rival Ethereum (ETH) surges more than 33% this week, while most of the crypto market remains stagnant.
The Casper Network (CSPR) is a proof-of-stake layer one blockchain that aims to bring smart contracts and decentralized apps (DApps) to a global scale.
The project’s native token, CSPR, is trading at $0.047958 at the time of writing, up from $0.035885 a week ago. The low-cap altcoin has also gained more than 4% in the past 24 hours.
Earlier this month, CasperLabs, the blockchain software and services company behind the network, released CEP-78, an enterprise-grade non-fungible (NFT) standard for the Casper Blockchain.
The new NFT standard is designed to enable organizations to maintain upgradeability over their tokens after they have been distributed, according to a press release announcing the launch.
CasperLab officials have also laid out a plan to upgrade Casper’s consensus protocol to “Casper 2.0” in the first quarter of 2023.
Says Medha Parlikar, technology manager at CasperLabs,
“Casper is already the only blockchain that enables upgradable smart contracts. Casper 2.0 introduces a more powerful feature set where everything on Casper is a contract – and contracts have all the properties of accounts (including the ability to pay for transactions and bet on the network). This will enable a more user-friendly user experience, and make the introduction of the next million users to blockchain that much easier.”
CSPR is the 85th largest crypto by market cap. It is still down over 96% from the all-time high of $1.33 reached on May 12, 2021.
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Featured image: Shutterstock/RDVector
