A new challenger for Ethereum – Initially involved in the development of Ethereum, CasperLabs chose to change direction in March 2020, by creating its own blockchain. A few months before the launch, the company has just raised $ 14 million during the private sale of its Bitcoin Profit token.

CasperLabs, an alternative to Ethereum

Originally CasperLabs was a company that worked on the development of the Casper protocol for Ethereum. It is in particular this implementation which was supposed to ensure the transition from Proof of Work to Proof of Stake .

However, in March 2020, the company announced its willingness to move away from Ethereum to develop its own blockchain: the Casper Network .

In fact, Casper Network is a public blockchain in Proof of Stake , which allows the use of smart contracts and the development of decentralized applications . Thanks to this protocol, the Casper Labs teams wish to resolve the trilemma of blockchain scalability, namely allowing scalability, decentralization as well as security.

March was also the launch date for their first testnet , with a mainnet launch date slated for early 2021 .

$ 14.5 million to dethrone Ethereum

The company has carried out several fundraising events since its launch. The first in January 2019 allowed him to raise $ 20 million from Galaxy and BlockTower . A second round in September 2019 allowed him to raise an additional $ 14.5 million .

In a post dated October 21, Casper Labs announced that it had raised $ 14 million in a pre-sale of their CLX token. Dozens of companies from the ecosystem took part in this sale. Among them, we find among others Gate.io , Consensus Capital and Oasis Capital.

These investors will train the first validators of the Casper Network when it is launched.

This fundraiser precedes the launch of Casper Network’s latest testnet this month and also allows Casper Labs teams to announce the mainnet launch for the first quarter of 2021:

“First of all, the Casper Delta testnet will go live this month and will be our last testnet. Next, the launch of the mainline Casper Network will take place in the first quarter of 2021 and will be accompanied by a public sale of Casper’s native token. „