Casper Labs Hauls in $14.5 Million Through a Series A Round Raise


[Originally posted on September 10th, 2019]

As Ethereum continues to move forward toward their goal of manifesting ‘ETH 2.0’, it appears that they’ll be having a few extra passengers along for the ride.

Those passengers are onboarding in the form of a whopping $14.5 million raised in a Series A round investment for Casper Labs.

According to published information by ‘crowdfundinsider’:

“The funding was led by Terren Piezer, through his personal holding company, Acuitas Group Holdings. Piezer has a long track record in the investment banking world having worked at Goldman Sachs, First Boston, Drexel and more. Other investors include Arrington XRP Capital, Consensus Capital, Axiom Holdings Group, Digital Strategies, MW Partners, Blockchange Ventures, Hashkey Capital, and Distributed Global.”

What is Casper Labs?

For those that are unfamiliar with the Ethereum Scaling Roadmap in its current iteration, Casper Labs plays a pivotal role in said roadmap.

Why?

Because of Casper CBC (correct-by-construction).

Casper CBC is one of the consensus protocol iterations that Ethereum will be deploying in the ‘Istanbul’ phase of their multi-faceted blockchain upgrade scheme on the road to reaching ‘ETH 2.0’.

The consensus protocol, initially proposed by Vlad Zamfir (one of the primary researchers at Ethereum Foundation), is designed to complement the ‘Casper the Friendly Ghost’ proposal set forth by Vitalik Buterin.

As stated on the Casper CBC GitHub:

“CBC Casper is a family of ‘correct-by-construction’ consensus protocols that share the same proof of asynchronous, Byzantine fault tolerant consensus safety. We describe this family of protocols by defining their protocol states and protocol state transitions, and then we provide a proof of Byzantine fault tolerant consensus safety for the entire Minimal CBC Casper family of protocols.”

Below are excerpts from a recent write up by Vitalik (Dec ’18) for the more technically inclined out there that are curious:

How Funding Will Help

It is unknown whether Ethereum actually needed the funding for Casper CBC but, at the very least, the funding does signal that there is substantial interest from outside parties in investing in the protocol’s development.

The proposed ROI for investors was not made immediately obvious in any associated press releases, which leaves a potent question unanswered. Given the fact that these proposals are being made with the intentions of ensuring that the best possible solutions available are being deployed for the better of Ethereum, as a protocol and an ecosystem, it is reasonable to be leery of substantial outside investment in a context where there does not appear to be any apparent scheme or structure by which they would profit.

Nonetheless, Ethereum proponents, investors and users can at least rest assured that this funding will more than likely ensure that Ethereum has the requisite resources to fulfill their scaling roadmap proposal.

Now the only thing that is left for Etherum is to figure out exactly how they’re going to go about getting to ETH 2.0