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CasperLabs gets ready for its mainnet launch in Q1 2021

Photo of: Sangeetha Golchha
by Sangeetha Golchha

A $14 million private sale closed by Casper Labs has propelled it to eye towards its next target – the Casper mainnet launch in the first quarter of 2021. 

The private validator token sale of Casper Sale was a huge success with more than a dozen investors taking part in the round which was initiated by Digital strategies. The company has now come forward and said that it expects to launch its public mainnet in the first quarter of 2021. This will be followed by a public token offering that will not include US investors. 

Back in 2018, Casper Labs had raised $14.5 million in Series A funding which was led by Terren Piezer, a proclaimed international financier and the Chairman of Los-Angeles-based investment company Acuitas Group Holdings. As per the original plan, the process had made a provision for an Exchange Validator Offering on the Bitmax exchange but as per the recent announcement, there was no mention of the exchange. 

CasperLabs is a company that is into the development of the so-called correct by construction Casper Proof-of-Stake Ethereum (ETH) consensus algorithm. This will allocate the newly invested funds into the further development of its products as well as the hiring of new engineers. 

Mrinal Manohar, CEO of ADAPtive Holdings Ltd which is also a parent company of Casper Labs had earlier said that they were excited for the support for its series A funding and that too from leading traditional and blockchain investors to build enterprise-grade blockchain infrastructure. He added:

“We look forward to delivering several interesting technical updates in the coming months and welcome any and all feedback via our open source code repository on Github.”

Initially, Casper started out as a scaling solution for Ethereum (ETH), and later after that the management decided that it would build its own proof-of-stake blockchain platform with Turing. Vlad Zamfir in March 2017 infamously stated that Ethereum is not safe and still very immature. He then urged the community to not rely on it especially when it came to critical applications. 

Ethereum co-founder Vitalik Buterin also declared that the future blockchain with sharding based on PoS will be multiple times more efficient. In one of the Medium Post of Casper Labs, Zamfir replied that he believes that the PoS consensus protocols which are more secure than the blockchains, in reality, is possible, adding:

“However, I am not sure if the Bitcoin and Ethereum blockchain communities are going to be able to upgrade their protocols.”

And now Casper believes that like many other Ethereum competitors, it is looking at building a solution that will encompass the main blockchain aspects namely Scalability, security, and decentralization. Its testnet Casper Delta going live this month will be the final of the testnet launches before it comes with its mainnet launch next year. Over the past few months, there has been an ushering of several compliance-focused token offerings in the blockchain space but nothing has been so overwhelming as it was when ICO caught a new frenzy in 2017.