Major crypto exchange OKEx has announced the listing of Casper Network’s native token CSPR. With deposits starting on May 11 and withdrawals a day later, users can now start trading on the spot market for the pair CSPR/USDT.
Users can participate in OKEx celebratory giveaway. The contestants will have the chance to earn a total of 70,000 USDT and 10 iPhone 12. To participate a user simply must deposit CSPR on the exchange platform. The giveaway will have a duration period from May at 10:00 am UTC to May 18 at 10:00 am UTC.
The giveaway will have two promotions. For those that deposit CSPR, they will have the possibility to split 20,000 USDT. The second promotion will target CSPR traders, they will have a chance at winning one of the 10 iPhone 12 and shared a prize pool of 50,000 USDT.
Casper Network (CSPR) To Solve A Blockchain Trilemma
With a total supply of 10,000,000,000, CSPR is Casper Network’s main token. Designed to be the first live open-source proof-of-stake blockchain based on the Casper Correct-By-Construction (CBC) specification created by Ethereum developers.
This blockchain has been optimized for developer and corporate adoption. Thus, its features are oriented to provide upgradeable contracts, predictable network fees, and transparent gas costs, an on-chain governance model, and a variety of programming languages.
In the crypto space, Proof-of-Work blockchains must make certain tradeoffs in terms of security, decentralization, and scalability. Casper Network’s Highway Protocol and its set of validators, with the implementation of a sharding mechanism and additional features, give it greater advantages over Pow-based blockchains.
CasperLabs, the development team behind Casper Network, claims the following:
PoS validators do not require the same hardware setup as Proof-of-Work networks, allowing validators to be more geographically decentralized and eliminating the centralizing pressures of economies of scale.
CSPR was launched on May 6th, according to CoinGecko, with an initial price of $1.69. The token saw tremendous appreciation until it hit an all-time high of $40 on May 11th. Since then, it has been trending downwards important losses across the board.