CasperLabs has raised $14 million in a private validator token sale, with over a dozen investors participating in a round led by Digital Strategies.
It has been reported that the company expects to launch its public mainnet in the first quarter of 2021, followed by a public token offering which will exclude US investors.
However, in 2018, CasperLabs raised $14.5 million in an equity Series A round led by Terren Piezer, as the original plan provisioned for an Exchange Validator Offering on the BitMax exchange, but the recent announcement makes no mention of the exchange.
The report said that Casper started out as a scaling solution for Ethereum (ETH), but eventually, the decision was taken to pivot toward building its own proof-of-stake blockchain platform with Turing-complete smart contracts. Ethereum may soon prove to be one of the dominant smart contract network’s main competitors.
.@meetCasperLabs adds $14M to its war chest as the one-time Ethereum collaborator aims to become a competitor, reports @mmviii_2008 https://t.co/7QWuV3Pqt1 — Cointelegraph (@Cointelegraph) October 21, 2020
Likewise, Casper prides itself on providing a user-friendly blockchain for enterprise users, as its consensus protocol, named Correct By Construction (CBC), was designed by former Ethereum Foundation researcher Vlad Zamfir.
Like many Ethereum competitors, it postulates a solution to the well-known blockchain trilemma: Scalability, Security, Decentralization; the assumption being that you can have only two out of three.
Thus, CasperLabs suggests that the Casper Delta testnet going live this month will be their final testnet before the launch next year.
Source: Cointelegraph