{"id":11121,"date":"2023-01-20T11:23:30","date_gmt":"2023-01-20T11:23:30","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=11121"},"modified":"2022-05-18T10:45:48","modified_gmt":"2022-05-18T10:45:48","slug":"cspr-the-native-currency-of-casper-network","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/cspr-the-native-currency-of-casper-network","title":{"rendered":"CSPR, the native currency of Casper Network"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/cspr-the-native-currency-of-casper-network\/#casper_network\" >Casper Network<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/cspr-the-native-currency-of-casper-network\/#cspr_and_its_role_in_the_casper_network\" >CSPR and its role in the Casper Network<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/cspr-the-native-currency-of-casper-network\/#cspr_in_numbers\" >CSPR in numbers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/cspr-the-native-currency-of-casper-network\/#future_and_long-term_vision\" >Future and long-term vision<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>Behind every successful blockchain we find a native currency, which is responsible for performing important functions in order to achieve the objectives that led to its creation, and\u00a0<strong>Casper Network<\/strong>\u00a0is no exception.<\/p>\n<p>In this article, I will develop everything you need to know about\u00a0<strong>Casper<\/strong>, identified by the ticker\u00a0<strong>CSPR<\/strong>,\u00a0<strong>the native cryptocurrency<\/strong>\u00a0of the network that bears the same name and was conceived in the core of\u00a0<strong>Casper Labs<\/strong>. This network, conceived by a team of people who met while developing Ethereum 2.0, tries to attract not only individual users, but also provides the\u00a0<strong>structure and tools necessary to attract companies<\/strong>\u00a0and facilitate the development of their applications on a blockchain.<\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"casper_network\"><\/span><strong>Casper Network<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>To talk about\u00a0<strong>CSPR<\/strong>\u00a0without talking about the network on which this currency runs, is an enterprise that borders on impossibility. So, first I will tell you what Casper Network is.<\/p>\n<p><strong>Casper Network is a permissioned network,\u00a0<\/strong>which means that\u00a0<strong>anyone can set up a node and become a validator or develop an application<\/strong>, using\u00a0<strong>Web Assembly technology<\/strong>, which is considerably simpler than the technology behind well-known blockchains. Since its conception, Casper Network, seeks to include, within its everyday users, the business world. To achieve this goal,<strong>\u00a0the network allows applications mounted on it to be private,<\/strong>\u00a0so any company could choose to develop its applications on the blockchain without losing control over access to them.<\/p>\n<p>Finally, it is remarkable the approach with which they developed the main chain, through the \u201c<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-third-generation-blockchain\/\">sharding<\/a>\u201d structure, which in short, means that it is divided into different parts that store data related to specific topics, which allows the network to have a\u00a0<strong>good perspective in terms of scalability<\/strong>.<\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"cspr_and_its_role_in_the_casper_network\"><\/span><strong>CSPR and its role in the Casper Network<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The native currency of a blockchain, the one that is born together with the creation of the network, plays a vital role when the method that governs the creation or accession of new blocks is the famous\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-proof-of-stake-and-how-does-it-work\/\">POS consensus, proof of stake<\/a>, since, beyond being the\u00a0<strong>means of payment for the chain\u2019s own transactions<\/strong>, they are also responsible for\u00a0<strong>contributing to the security<\/strong>\u00a0of the network.<\/p>\n<p>The aforementioned are just some of the functions that\u00a0<strong>CSPR<\/strong>\u00a0fulfills, within the\u00a0<strong>Casper<\/strong>\u00a0blockchain. Users of this blockchain, having possession of this currency, can choose to contribute to the security of the network by obtaining a return as a<strong>\u00a0reward for this participation<\/strong>, as well as being part, through voting, of the decisions to be made through the governance of<strong>\u00a0Casper Network<\/strong>.<\/p>\n<p>The consensus adopted by Casper determines that those who validate transactions and create the new blocks of the network, known as\u00a0<strong>validators<\/strong>, must contribute a certain amount of\u00a0<strong>CSPR<\/strong>\u00a0that allows them to remain within the first 100 validators, ranked according to the amount of\u00a0<strong>CSPR<\/strong>\u00a0contributed, and thus be eligible to perform this function, of course, in exchange for a reward.<\/p>\n<p>With each new block added to the network, a specific number of\u00a0<strong>CSPRs<\/strong>\u00a0are issued, which will be the reward that the validator will receive for doing his job correctly.<br \/>\nBeing a\u00a0<strong>Casper Network<\/strong>\u00a0validator requires a certain amount of attention and an initial CSPR contribution, which is not affordable for all users. Therefore, for those holders of this currency there is the possibility of\u00a0<strong>delegating their CSPR to the network validators<\/strong>. In this way it is possible to contribute to the security of the network and also\u00a0<strong>obtain a reward<\/strong>\u00a0in this same currency.<\/p>\n<p>As we are talking about a decentralized blockchain, we know that one of its main objectives is that decisions are made by the users themselves. This is why, by delegating their\u00a0<strong>CSPRs<\/strong>, the users of the network can participate in the votes that define the modifications or new proposals that are made on the course that\u00a0<strong>Casper Network<\/strong>\u00a0should follow. If they do not feel empowered or do not have the time to do the necessary research to vote conscientiously,\u00a0<strong>the power to vote can be delegated to the network validators.<\/strong><\/p>\n<div id=\"image_1033492183\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"lazyloaded smush-detected-img smush-image-2\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/CSPR-la-moneda-nativa-de-Casper-Network.jpg\" alt=\"\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/CSPR-la-moneda-nativa-de-Casper-Network.jpg\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h3><span class=\"ez-toc-section\" id=\"cspr_in_numbers\"><\/span><strong>CSPR in numbers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Both\u00a0<strong>Casper<\/strong>\u00a0delegators and validators can expect a reward of between\u00a0<strong>10%<\/strong>\u00a0and twelve\u00a0<strong>12%<\/strong>\u00a0per annum.\u00a0<strong>The network cycles are ordered by eras<\/strong>, which have a\u00a0<strong>duration of approximately 2 hours.<\/strong><\/p>\n<p>It is important to bear in mind that\u00a0<strong>the rewards are delivered at the end of each era<\/strong>. Another fact to bear in mind is that after choosing a validator and delegating our CSPRs, we will have to wait two eras, approximately 4 hours, for our\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-cryptocurrency-staking\/\">stake<\/a>\u00a0to become effective and start generating rewards. Finally, regarding delegation times,\u00a0<strong>when deciding to withdraw our delegated CSPRs, we will have to wait 7 eras<\/strong>, approximately 14 hours, until the withdrawal is effective and reflected in our wallet.<\/p>\n<p>When selecting a validator to delegate<strong>\u00a0CSPRs<\/strong>, it is crucial that it is within the\u00a0<strong>top 100<\/strong>, which are those enabled to create new blocks. Each era, the network protocol automatically checks the number of\u00a0<strong>CSPRs<\/strong>\u00a0\u201cstaked\u201d by the validator plus the\u00a0<strong>CSPRs<\/strong>\u00a0delegated to it, in order to maintain an accurate and updated ranking. In case we have delegated a validator who loses his place in the top 100, we will be deprived of rewards until he re-enters, or until we re-delegate our coins with an enabled validator.<\/p>\n<div id=\"image_1852246766\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"lazyloaded smush-detected-img smush-image-3\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/CSPR-la-moneda-nativa-de-Casper-Network2.jpg\" alt=\"\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/09\/CSPR-la-moneda-nativa-de-Casper-Network2.jpg\" \/><\/div>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"future_and_long-term_vision\"><\/span><strong>Future and long-term vision<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>The Casper blockchain\u00a0<\/strong>and consequently\u00a0<strong>CSPR,<\/strong>\u00a0are developments carried out by the<strong>\u00a0Casper Labs team<\/strong>, a group of people who met while working as part of the \u201c<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-third-generation-blockchain\/\">Ethereum 2.0<\/a>\u201d project and decided to start their own blockchain. The vision and influence of that experience can be perceived in every detail of the creation of the network and its native currency, as well as in its philosophy.<br \/>\nWith solid foundations, investors and network participants are waiting for the arrival of applications to demonstrate\u00a0<strong>Casper\u2019s<\/strong>\u00a0true potential to the world.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>Behind every successful blockchain we find a native currency, which is responsible for performing important functions in order to achieve the objectives that led to its creation, and\u00a0Casper Network\u00a0is no exception. In this article, I will develop everything you need to know about\u00a0Casper, identified by the ticker\u00a0CSPR,\u00a0the native cryptocurrency\u00a0of the network that bears the same [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=11121"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/8016"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=11121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=11121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=11121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}