Technology

CasperLabs readies blockchain platform for 2021 mainnet launch with $14M private sale

For the network, a project that began in the Ethereum ecosystem could soon be a worthy opponent.

In a private validator token sale, CasperLabs raised $14 million, with over a dozen investors investing in a round led by Digital Strategies. In the first quarter of 2021, the company plans to launch its government mainnet, followed by a public token sale that will exclude U.S. investors.

In 2018, in an equity Series A round led by Terren Piezer, CasperLabs raised $14.5 million. On the BitMax exchange, the original proposal was provided for an Exchange Validator Bid, but the recent announcement makes no mention of the exchange.

Casper began as an Ethereum (ETH) scaling solution, but the decision was ultimately made to pivot towards developing Turing-complete smart contracts with its proof-of-stake blockchain network. Thus, what began as a complementary project to Ethereum could soon prove to be one of the dominant intelligent contract network’s key rivals.

Casper prides itself on supplying business users with a user-friendly blockchain. The former Ethereum Foundation researcher Vlad Zamfir built its consensus protocol, named Right By Construction (CBC). It postulates a solution to the well-known blockchain trilemma, like many Ethereum competitors: Scalability, Stability, Decentralization; the assumption is that you can have only two out of three.

CasperLabs suggests that their last testnet before next year’s launch will be the Casper Delta testnet that goes live this month.

There has been a recent resurgence of compliance-focused token offerings in the blockchain room, albeit nothing approaching the 2017 and 2018 ICO frenzy. For instance, back in July, Emin Gün Sirer’s Avalanche raised $42 million.

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