Token of the Month

Sunday is upon us.

And we’re kicking October off with an in-depth analysis of one of the most promising cryptocurrencies in the space.

Background:

In the last 10 years+ since the inception of Bitcoin, we’ve seen the highs of pure euphoria in bull markets and the depressive lows of bear markets.

Much of which has been fuelled by retail, or your average investor/degen/gambler who places their hopes in narrative-fuelled hopium that a token will rise in value substantially and they get rich(er).

If one understands how much money has now flown into crypto, which is set to be a multi-trillion dollar industry by 2030 much of it hasn’t even been touched by the likes of huge enterprises.

Enterprise adoption is where the serious injections of capital flow in, and we see prices that once were unthinkable.

It takes longer to come in because of the lack of regulatory clarity but it’s much stickier, meaning once an investment and partnership starts it’s hopefully there for the long run.

Today I’d like to introduce you all to the blockchain that is on track to become the enterprise standard and barely anyone is talking about.

Casper Network (CSPR)

Casper Network (CSPR) is a Proof-of-Stake (PoS) Enterprise-ready blockchain designed for real-world applications while preserving usability, decentralisation, security, and scalability.

Casper Labs formally debuted Casper's mainnet on March 31, 2021.

Flexible privacy permissions, low latency, and security are the main objectives of the protocol, which is intended for enterprise adoption.

Depending on their desires for anonymity, Casper enables businesses to select between public, permissioned, and private network iterations without compromising security or speed.

How does Casper work?

The underlying consensus mechanism of CSPR is known as the Highway Protocol - built in collaboration with Ethereum developers around the early CBC Casper research.

(CBC) or Correct By Construction is a blueprint that allows for the creation of consensus protocols using any data structures (i.e. flexibility in designing a protocol).

This offers two key features:

Finality - Casper offers flexibility in how all the nodes reach consensus as well as higher degrees of finality.

Liveness - Guarantees that a network will continue to send/receive messages.

This was 1 of 2 proposals in the Ethereum Foundation to further improve Ethereum a few years back. However, Casper took the research further and now owns the full rights to CBC-Casper family protocols.

An Overview between ETH and CSPR

Important Note: (1) Pure CBC Casper & (2) WebAssembly are 2 core features of CSPR. It’s the major reason why you may hear of it referred to as “ETH 3.0”.

What are CSPR’s Unique Features from other Layer 1’s?

1. Developer Friendly & WASM

   • WebAssembly (WASM) is a language-agnostic bytecode sandbox and is the technology of choice over Ethereum’s EVM which is the conventional choice of building Layer-1’s.

   • Casper network’s virtual machine is built from the ground up using WASM, allowing for more programming language support for developers.

   • You don’t need to understand CSPR’s consensus in order to run a smart contract on CSPR, it’s kept very pure in its form making it easier to build upon by developers.

2. Upgradeability & Modular Architecture

   • As we said before, CSPR is designed with enterprises in mind and is future-proofed, with the unique ability to run completely upgradable smart contracts in real-time.

   • With so much innovation happening in the space, CSPR’s modular architecture allows them to take advantage meaning they can easily swap out WASM for a different version or something completely different with ease.

   Some other key features include:

   • Consensus Mechanism (Zug)

   • Key Types (Quantum Proof Ready)

   • Virtual Machine

   

3. Governance & Access Control Account Model

   • These are absolutely essential to Enterprises for regulatory and auditing reasons.

   • Again CSPR is the only blockchain to offer robust Account & Governance Controls including:

   • Key Management & Key Recovery

   • Multi-Signature & Weighted Keys

   • Access Control

   • “ Going in search of the bread and butter of business is where you’ll find the billion-dollar valuation (…) that has been one of the running themes with Casper, we are not in search of the hype cycle. What we’re building isn’t extremely sexy but it’s extremely valuable”

   • Check out XFrontier’s video explaining in more detail here: https://www.youtube.com/watch?v=OLZk-pmnKUc

4. Security

   • Casper Network has never been down or hacked.

   • Security has always been at the forefront of development.

   • Casper has been audited by Trail of Bits.

   • They are SOC2 - Type 1 compliant and will soon be SOC1 - Type 2 as well. By CSPR going for Type 2, it’ll be the ONLY BLOCKCHAIN to hold this designation and it proves to external security auditors the proof of the long-term security and health of the network.

   • To understand more you can read about it here: https://t.co/ZXffpggXRA

   

5. Professional Services

   • Casper Labs offer customised and dedicated software services to help clients onboard and choose the correct CSPR deployment for them.

   • This is an essential service in helping enterprises get up to speed and reduce friction in the early stages of adoption!

The Team

When we look at the potential of a company, whether that be in the Web3 space or within the traditional financial markets, the makeup of the senior core team usually plays a huge role in determining whether it can be as successful as it promises.

Casper Network has a team of experienced individuals across all levels of industries including both the private and public sectors.

CEO/Co-Founder: Mrinal Manohar

• Worked for: FBI, Microsoft and Google Mrinal has deep connections across the Web2 world of tech.

• Spent a combined 9 years in professional services in the likes of Bain & CO/Capital and Sagard Holdings, as well as helped lead North American Private Equity for the TMT sector at Bain Capital.

  

CTO/Co-Founder: Medha Parlikar

• The vision behind CSPR, and leads out its product development.

• Over 30 years of experience and has worked for: Adobe, Avalara and Temboo - all of which are essential services to any business (tax + code + media).

COO: Ross MacKay

• Worked at: Soldo (VP), Head of EMEA for Dropbox and Strategy Consultant for Fortune 500 companies at Accenture for over 7 years.

Partners

For the sake of it, many of the partnerships can be found online, we wouldn’t be able to fit them all in detail here so below is a visual snippet of some of their biggest ones.

You’ll see some big names here….

Tokenomics

Total Supply: 12,048,164,850 CSPR

Circulating Supply: 11,354,457,014 CSPR (94.2%)

Currently Staked: 8,915,504,080 CSPR (74%)

$CSPR servers in the form of a utility token similar to other L1s as:

1. Gas for network fees

2. Stake to secure the network

It has no MAX supply meaning it will continue to rise 8% YoY, which has raised some critiques around it’s tokenomics and the inherent price for those that are HODLing.

Solution: For us, we’re not bothered by this and here are the reasons why:

1. Long-term health stats

   94.2% of the total supply in circulation

   74% of the total supply staked

   The higher the total supply in circulation/liquid the more CEXs will list

   Higher total supply > network is more secure

2. Casper has the second-highest staking ratio behind BNB, according to staking rewards.

3. Kevin Cage perfectly explains how long it would take for CSPR supply to double in line with the 8% YoY.

   See here > https://x.com/theXfrontier/status/1607195101003931649?s=20

4. For reference, there are tokens in the top 25 (L1’s mind you) that exceed the 20 Million+ tokens in supply that CSPR would be at in 8 years’ time.

   It’s all about use case and adoption. Mrinal alone said that one big enterprise adoption could see more transactions than the whole of Ethereum currently > Food for thought!

Use Cases

It’s important to understand that Casper has multiple written NDAs with both Fortune 500 & 100 clients, supposedly around 45+.

So in line with what we cover, there’s more additional info out there to support the fact that CSPR is working with some of the biggest organisations in the world (*you just have to search a little bit)

IPwe

This is a platform for the on-chain tokenisation of intellectual property (IP), the no.1 solution presented by CSPR in collaboration with Hyperledger Fabric and IBM Weaver.

They're putting intellectual property (IP) and patents on the blockchain to enable features like provenance and better access to and fungibility of each patent. This is a real-world industry problem that Casper is going after and is expected to be a $1 trillion industry in the near future.

Scenario: Just imagine, a patent which is traditionally extremely difficult to quantify in value, goes through an arduous and opaque process just to exchange and or sell it and can be traded just like any cryptocurrency on an exchange.

Creators and businesses can quantify their ideas at an agreed market price and sell them to gain liquidity, just like that.

If you need more proof of the scale of the patent market, it is said that 85% of the value of the S&P500 is made up of intangible assets including intellectual property (2021).

So, in a nutshell, they make use of cutting-edge ideas by exchanging assets over public and authorized networks.

1. Access to public market liquidity for businesses

2. Maintain the authorized corporate security

$7-10 Billion in patent value is confirmed to be minted on CSPR but this is yet to happen…

• "IPwe is proud to announce the minting of 25 million patent NFTs to foster the digital transformation of IP. IPwe Digital Assets are a revolutionary technology and the true manifestation of the promise of blockchain for enterprise," Leann Pinto, IPwe President.

ADVASA

The leading Earned Wage Access Fintech company partnered with CSPR to provide blockchain payroll solutions to employers in the US.

The Global Managing Director of ADVASA stated at the Blockchain Hub in Davos that they have collaborated with a company in Japan, expanding their potential customer base to 150,000+ enterprises and 3M people.

They have several Pay In-Advance patents in the US, Japan, and other nations (83).

The EWA market increased from $3.2 billion in 2018 to $9.5 billion in 2020, according to the Center for Responsible Learning.

Our payroll systems are out-of-date right now.

According to the poll, 80% of organisations are willing to use EWA technology.

ADVASA collaborated with IPWE to grow EWA's company internationally and in the US.

Payments that are rapidly sent into any bank account, card, or e-wallet will be simplified by this EWA.

This year they have added support for cryptocurrency payments.

Nucleus Finance

A joint venture that is working with Actus Research on tokenising financial instruments.

Nucleus Finance is to tokenise financial instruments using 32 contract types.

Another financial-focused Casper application, Ariadne, aims to put corporate financial services online.

The ACTUS financial requirements for financial contract standards are intimately tied to each of these parties.

Ariadne: On-chain financial services

Nucleus: Financial contract dApp

ACTUS: Financial contract standard

Given that they are all linked to CSPR…

It appears that they are developing the business financial services ecosystem in a very hush-hush way no?

Additionally, ACTUS is an ISO20022 Registration Management Group (RMG) member.

The legacy technology ISO standard developed by ISO TC68 will significantly improve our financial systems as well.

Casper’s flexible finality thresholds provide institutions with security & speed prioritisation based on the value of the transaction.

BSN (Red Date)

Although China has been seemingly anti-crypto these past few years, they’re one of the biggest innovators when it comes to building out DLT and blockchain technology.

Think of BSN as the equivalent of Hyperledger or Quorum in North America, and they provide a huge range of blockchain-based business products - Red Date are the parent company.

BSN operates with 2 different networks:

1. BSN Spartan - Customers outside of China

2. BSN DDC - Clients in China

CSPR is based out of Switzerland, however, they’ve been given access to operate on BSN’s DDC network through an Open Permissioned Blockchain (OPB) adapter.

BSN has been working on creating smart cities and provinces, starting with Wuhan & Fuzhou - CSPR and BSN’s partnership is to transform Chengdu into a smart city as well.

It’s already live & growing on the CSPR network - with over $290 Million in GDP + 10 million people this collaboration could if successful create Billions in opportunity.

Check out more here > https://t.co/Iy8mIluPzu

Summary:

Casper Networks’ partnerships, collaborations, tokenomics, team and roadmap showcase it’s well on its path to becoming one of the most exciting projects in this upcoming bull run.

The price which currently sits around $0.03 in our humble opinion is a STEAL.

This is a token which looking at the fundamentals and market cap could see the likes of easily $1+ over the next 12/24 months - and that’s on the low end of estimations.

For us, as long as we continue to see what we want with the roadmap and the eventual release of Casper 2.0 over the next year we’re here to stay for at least the next 3-5 years as this industry of tokenisation grows.

A couple of things to consider:

• Voted the best blockchain by IPwE for enterprise adoption (over ETH, SOL and every other contender).

• It’s never seen a bull run parabolic run-up.

• Aligns with a potential narrative of the next bull run (tokenisation of RWA’s).

• Supposedly 3 NDA collaborations with Fortune 500 companies are to be revealed in Q4.

• Guaranteed $7-10 billion due to be tokenised over the next few months (market cap currently sits around $300 million) - CSPR will be needed to process this all.

• Solves huge market inefficiencies (illiquid Intellectual Property), estimated to be well over $1 trillion by 2030 - imagine holding even 10% of that market share?

Big shout out to @theXfrontier as much of the info on here has been consolidated onto here for you all.

I’ll leave you with this tweet from Kevin Cage, an advocate and absolute research master on all things Casper & the future of Enterprise Adoption:

Recommended Crypto Accounts to Check Out

That’s all from us this week, before we let you go here are some of our favourite Twitter pages for great content and deep dives on specific Crypto projects.

Shout us out if you find them valuable (we’re sure you will):

Just remember if you’re reading this, we’re so early in this journey of technology.

Zoom out, stick to your intuition and have patience - all great things come with time.