Casper Network (CSPR) is a Layer-1 Proof-of-Stake (PoS) blockchain built for real-world applications without sacrificing usability, decentralization, security, or scalability. On March 31, 2021, Casper Labs officially launched Casper’s mainnet.
The protocol is designed for enterprise adoption, focusing on flexible privacy permissions, low latency, and security. Casper allows enterprises to choose between public, permissions, and private network iterations depending on their confidentiality preferences without sacrificing security or performance. This attracted multiple enterprises and Web3 teams to develop partnerships with Casper.
CSPR is now trading at $0.1337 and has a market capitalization of $372 million, ranking at 203 in the market cap list.
In May 2021, CSPR traded at $ 1.3, a 10,000% rise over the coin's initial public sale price on Coinlist. The price has dropped significantly recently. However, this shows the actual value of CSPR.
On the other hand, starting May 2021, a considerable number of CSPR tokens were unlocked, increasing the total supply of CSPR and thereby generating token inflation.
Casper Ecosystem Analysis
Gitcoin: The Casper Association announced it is organizing the Casper Friendly Hackathon in partnership with Gitcoin from September 13th, 2021, to October 13th, 2021.
DEVxDAO: DEVxDAO promotes the development of the Casper network and the entire emerging technology field. CasperLabs and DEVxDAO are independent, ensuring DEVxDAO has the ability and freedom to provide grants to developers outside of the Casper ecosystem, enhancing the capability of advancing the entire field as Web3 grows.
SJM: CasperLabs & SJM Group Partner to Promote Web3 Adoption in the United Arab Emirates.
In general, Casper's partners until now are all must-have partners of a blockchain platform. This process is reasonably necessary, but it will take a long time because this stage is heavy on engineering and infrastructure development.
Casper Association partnered with Gitcoin to create The Friendly Hackathon, which supports and rewards developers looking to build innovative dApps on Casper.
The total prize pool for developers is $130,000. The prize isn't highly significant, but Casper's approach is sensible, given that the project will require more development funds in the future.
There are 1360 participants and 275 projects in this hackathon competition, with 25 projects getting awards in the end.
The winning projects primarily focus on DeFi, DAO, NFT, and Infrastructure. This information indicates that Casper critically requires the components from the above projects in order to be able to utilize them in its ecosystem.
Like many other blockchain ecosystems, Casper firstly decided to develop the Launchpad Legos. There are currently few DeFi Legos being created on Casper; thus I expect CasperPad to soonly launch projects like NFT, AMM, Lending & Borrowing.
Similar to some Launchpad models such as Mex Launchpad, Polkastarter, BSCPad, and so on, CasperPad will apply both the lottery and guaranteed allowances models to ensure the decentralization of the project.
However, numerous Launchpad platforms have emerged and had a significant market share. Casperpad will need to diversify its methods to attract cash flow and investors in order to remain competitive.
On the Casper Network, CasperLabs will collaborate with Fountainhead to develop a worldwide jade NFT platform. Jieyang, China, accounts for 80 percent of the global emerald and mid-to-high-end jade market.
CasperLabs and Fountainhead are expanding their worldwide market reach outside of China Mainland by launching the NFT platform for the Jieyang jade business, decreasing the investment threshold, improving security, and bringing digital innovation to this traditional industry.
This is a very good strategy of Casper that is different from other blockchain platforms. Casper is attempting to close the gap between blockchain technology and real-world applications.
Casper has yet to reveal whether this idea will evolve into Collectible NFT or Interactive NFT. In the NFT market displaying signs of saturation, the project should hopefully select the proper path.
Casper's clients are primarily giant corporations. These companies already have a large number of loyal clients. As a result, when Casper successfully distributes the project to each organization, massive network effects will be created.
Casper's ecosystem is at a fairly early stage. I predict that after the Launchpad of CasperPad is completed, Casper will have strategies to promote the ecosystem. However, it is necessary to monitor the performance to assess the potential of Casper in the future properly.
Disclaimer: All the information in this article is only for information purposes and should NOT be considered investment advice. Investing in Crypto contains hugely high risks, and you should only invest the fund you are willing to lose.