CasperLabs Introduces 1st ‘Provably Safe’ Ethereum PoS Protocol

The first “provably safe” Ethereum PoS protocol was recently announced by the Ethereum development firm CasperLabs, the Ethereum today’s news show. CasperLabs introduces the protocol which is named “Highway” and is allegedly the first correct-by-construction Casper Proof of Stake (PoS) implementation that is provably live and safe.

As a press release shared with media sites notes, a protocol is safe if it is consistent in its decision and live if it guarantees such decision. CasperLabs claims that both of these features are part of Highway and their presence is provable. The firm also released a full research paper to back up the project.

As CasperLabs introduces the first provably safe protocol for ETH, it gets the name ‘Casper’ and ‘Highway’ is the particular version which is released as an open-source software. As a reminder, this first version of the ‘Highway’ protocol came in earlier this year in May.

The announcement also shows that the firm is in line with the development of the protocol – presented at the San Francisco Blockchain Week on October 31. At the event, the company noted:

“By releasing CasperLabs Highway to the public via an open source license, we hope to inspire further innovation for the benefit of all.”

As CasperLabs introduces the protocol, we can see that a lot of crypto personalities are standing behind it. During the event, the lead software developer at the firm Michael Birch led a developer’s workshop and illustrated how to write smart contracts in Rust (a programming language) for use with CasperLabs.

As we reported last September, CasperLabs introduces the Ethereum protocol as a result of its Series A funding where it managed to raise $14.5 million – led by Terren Piezer – who is an international financier and chairman of the Los Angeles based investment company Acuitas Group Holdings.

Since this project is open source, developers can use it to further customize it. CasperLabs introduces ‘Highway’ in times when Ethereum’s ETH price is trading near the $180 level and with a look for direction that was rumored by analysts looking at the charts. Altogether, we can say that this innovative approach will instill passion in the developers and create more new things which will benefit the crypto ecosystem as a whole.