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Gate.io x Casper Network (CSPR) Space AMA
Recorded: May 7, 2025 Duration: 1:04:36Space Recording
Short Summary
Casper Network has launched its highly anticipated Casper 2.0, a major upgrade that enhances its protocol and positions it for real-world applications. The collaboration with Gate.io and the focus on tokenized assets signal a shift towards broader adoption in the blockchain space, with the Casper Association playing a pivotal role in fostering growth and community engagement.
Full Transcription
Thank you. Thank you. Thank you. Thank you. you
gmg ig you guys are thank you very much guys for tuning in my name is danny today's co-host of today's AMA with the Casper Network.
Hope you guys are having a fantastic day, afternoon, or night, whatever you guys are.
Thank you very much for tuning in and supporting our channel.
Our gay radio and gay live official account on X.
All right, so welcome back for...
so uh welcome back for um well actually family of faces out here on x and as well as a gay live
uh live room audience out there thank you very much guys for tuning in all right so we get in
this show uh you guys know uh nothing with financial advice and and please do your own
research and this is why you're here learning more about the Casper Network for this AMA in particular.
So without further ado, let's welcome our today's special guest from Casper Network, CTO and President.
Michael, how are you doing, sir?
It's doing great. Thank you for having me.
All right. Thank you for joining us.
And if you could quickly introduce yourself to our audience today, that would be great. Thank you for having me. All right. Thank you for joining us. And if you could quickly introduce yourself to our audience today, that would be great.
Sure.
So, Michael Sturrer.
I'm the CTO and president of the Casper Association.
So, for me, it's actually late in the evening.
I'm based in Los Angeles, California.
So, happy Wednesday to you.
For me, it's still Tuesday, the day that we launched Casper 2.0 on,
which is the new version of our protocol and our Node software.
And before we start, I just want
to say that I'm really happy to be here with you guys today.
Thank you to Gate.io for the great cooperation
we have with them.
And I wanted to especially call out your engineering team,
because you are working with a team
of really phenomenal professionals.
They were completely on top of preparing
Gate.io's integration with Casper 2.0.
And they've just been super cooperative
and really stellar engineers.
So I want to give them props.
And you really have a great team.
All right.
Thank you very much, guys.
Thank you very much, Michael, for the introduction and as well as one more welcome to our audience.
So, yes, so before we move it on to our main discussion today, we got a lot of talk today about the Casper Network and a recent upgrade cap casper 2.0 so uh but i just
like to let you guys know we have a campaigns uh this is for first one uh live air job this is for
a gate live from audience so red packets will be distributed on the gate library room during this ama
and much for red packets will be distributed so please pay attention and for new users uh and
referral campaigns excuse me the user who invite your friends to watch this AMA session for at least five minutes.
But please stick around to the end so you won't miss out on anything and any alpha might come from Michael.
So each receive $5 for the new users and the new users should, of course, sign up and get IR accounts and as well as depositing $50 on the day of registration
which should be today all right to be qualified for this reward and a lucky job winners lucky
honors who watch this live session for um um for a certain amount of time will have a chance to
share the 5154 uh cspr token prize pool casper token prize pool and yes to to increase the chance of winning the lucky
Joe winners I mean lucky lucky winner just drop your emojis on X please please guys let's do it
a vibe check all right 10 winners Hannah the last one is share to win and auditions audiences which
should this is your library AMA session on your social media. We'll stand a chance to share this 2,577 CSPR tokens.
And the links for the get live audience are links.
You can just click the share button on your screen
and you can just share this link.
And for ex-audience, you can go to Casper Networks.
You can just click the icon and copy the link
or share the post of this AMA
station link so that you can just put it in the share or to share to win.
All right, guys.
So without further ado, let's get into the main discussion.
We got five questions and also we have a five question from the question
collecting post.
Thank you very much for submitting the questions, but we picked, handpicked
the five questions before we started this AMA.
So we will be reading out those questions after our main discussion questions.
So, Michael, we've got 10 questions to go. Are you ready for this?
I'm ready if you don't make it too hard on me, I know.
All right. So I hope this is going to be easier.
I mean, this is the first question. It will be always easy and basic questions,
but this is very important for us.
Casper 2.0 marks as a major upgrade, as you mentioned,
but how is it different from the rest of the blockchain space right now?
If you could explain.
Back to you, Michael.
Sure. So thank you, Danny.
So let's take a quick step back just before answering your question
about Casper 2.0 specifically.
And I want to give you a quick background on Casper Network itself because it may be new to some of your listeners.
So Casper was launched back in 2021 as a layer one blockchain.
And it was built on the original proof of stake model that was first developed in the research group of Ethereum and then finalized by our researchers.
in the research group of Ethereum and then finalized by our researchers.
So from day one, it was designed to facilitate enterprise use cases
by focusing on what enterprises really need
in order to integrate blockchain into their existing stacks.
This included things like built-in end-to-end testing,
mainstream programming languages instead of Solidity
so that they didn't have to retrain their engineers,
better access controls, and better flows around software upgrades and modularity.
So it's really that enterprise background
that formed the basis of Casper 2.0
and what positions it so well
for enabling the next generation
of real-world applications and use cases.
So let's dig in a little bit
into what's different about Casper 2.0,
which successfully launched on our mainnet today.
We had a really big celebration during a live stream in our ecosystem.
So it's a pretty big day for the Casper project.
So Casper 2.0 introduces a new consensus protocol called ZOOC, which uses deterministic finality,
which is different from most major blockchains like Bitcoin and Ethereum and many other layer twos, which rely on probabilistic finality.
In probabilistic networks, a block is not immediately final after being added to the
chain.
Many of your users will be familiar with it.
You usually have to wait for multiple confirmations to be confident that the transaction won't
be rolled back, which is fine
for crypto native use cases, but it's not ideal for real world applications where certainty matters.
If you sell a house, you don't want to wait for 64 confirmations to know whether it's really sold
or not. So for this, Casper focuses specifically on real-world applications using deterministic finality.
So how that works or what that means is that with ZOOC, our consensus protocol, the network reaches agreement the moment the block is produced and accepted by the network.
There is no waiting period.
Once it's finalized, it's final immediately and permanently, which is critical for use cases like financial transactions and regulated asset transfers or legal agreements,
where ambiguity can create risk or liability.
Like I just mentioned, when you're selling
a massive real estate asset,
you don't want to wait for 64 confirmations
like you have to do on most other blockchains.
So beyond consensus, Casper 2.0 introduces
other major upgrades that set it apart from things out there in the industry as well.
It comes with built-in access controls
that let developers define who can do what in a smart contract
without rebuilding permission logic every time.
This is important because in the real world,
companies and transactions have governance and access requirements.
For example, the CFO of a company can do things
that marketing managers are not allowed to do.
Casper allows app developers to build these access controls
in directly into their smart contracts.
And this is then enforced on chain on the protocol level,
which is very different from how you might see this
on other environments where it's sort of hacked together
on the smart contract level.
Speaking of smart contracts,
so our smart contracts are upgradable,
which allows developers to make changes to business logic
without redeploying or migrating user data.
I'll point out why this is important,
and that's because in the real world,
business requirements change, regulations change,
and apps and companies need to be able to respond to those changes
in a transparent and responsible and secure way. be able to respond to those changes in a
transparent and responsible and secure way and casper provides this natively we also introduced
a multi-virtual machine architecture which means that different execution environments can run
side by side on the same layer one network which is useful for supporting many types of applications
with different requirements.
So the innovation here lies in the fact that it all occurs on the same layer one.
These are not roll ups. These are not side chains.
Each VM can live side by side, provide specialized functionality, but also interact with contracts that target the other VMs.
And then finally, we are really focused on developer friendliness.
So we provide a ton of developer-friendly tools.
We support Rust WebAssembly and popular SDKs
that make it easier for mainstream developers to build on-chain.
The Web3 world has maybe 20,000 or 30,000 specialized software engineers
who know Web3-specific obscure languages.
The real world has tens of millions of software engineers
who know mainstream programming languages.
Casper enables those tens of millions of developers
to participate in blockchain developments.
And all this adds up to a protocol serving
not just the crypto space,
but for long-term real-world systems
that need to be secure and adaptable.
Back to you, Denny.
We lost our host.
Did we join in?
I'm sorry.
All right.
Thank you very much, Mike.
No worries.
I was going to do a song and a dance, but you're back.
Thank you very much for covering me up.
Did you get it?
I'm sorry.
Yeah, you missed the end of my response, but I reached the end of it.
So you feel free to ask me more questions.
Okay, cool.
Cool.
Thank you very much.
And I think you mentioned already,
well, before I get caught up,
I think you already mentioned
about the real-world use cases
with a lot of technicalities out there.
So for the non-technical users,
I think if it could explain more easily,
like I think of giving them more real-world use cases,
examples and samples that you already have or you probably could have in the future that probably what we can most excited about in the new future.
Sure.
So Casper 2.0 is really built to support tokenized real-world assets.
These are assets that exist off-chain but can be represented and managed on-chain. So think about real estate, financial instruments, intellectual property, and even physical infrastructure can be within scope.
What makes Casper suitable for these use cases, and that sort of goes back to the technical details that I described earlier,
is the fact that it handles not only the asset itself, but also the rules and the rights and responsibilities that come with it.
Because in the real world, ownership is rarely simple.
It comes with access restrictions, multi-party approvals, and regulatory obligations.
On top of that, business terms evolve and regulations change,
meaning that those assets exist in a dynamic and complex context.
Casper 2.0 supports that complexity directly at the protocol level.
To give you an example, in the near future,
we're most excited about adoption in the real estate and real estate-adjacent industries.
So when you have a real estate, sort of a physical asset,
be it land or buildings or let's say a parking lot structure or a solar
farm, you name it, it exists in a physical location where it is subject to specific local
and national laws and regulations.
These regulations can change and sometimes regularly do.
Depending on, I don't know where all your users are based, but certainly where I am,
the rules change almost every year based on new governments, elections,
and things like that.
So if you transact in these assets, you often have multiple and sometimes adverse parties
involved who need to reach consensus, right?
And that's ultimately what blockchain is really good at, is providing consensus.
So if you have multiple owners of an asset, then you need to reach a minimum threshold
of consensus on a transaction, for example, that is something that Casper can do natively with its built-in multi-signature functionality.
Or if you have adverse parties, parties that are on opposing sides of a transaction, for example, in the simplest terms, you can think about a buyer and a seller.
about a buyer and a seller, but there are typically also other parties involved.
But there are typically also other parties involved.
So if you think about real estate, you have lenders, brokers, listing agents, title registries,
tax authorities, right?
Somehow the government is always involved and they all have different rights and responsibilities
with regards to that transaction.
Casper's granular access rights can natively enforce that every party only has access to
the functionality that they're supposed to.
So we are very excited about sharing announcements in the weeks to come of projects that will be making use of these types of functionalities that really sort of prove the real world compatibility of the technology that we put out there.
All right. Thank you very much for the elaborations and clearly explaining for simplifying the explanations on that one for real world use cases.
I mean, there's a lot of real world use cases with the security features and that actually lowering the barrier of entries for the projects and developers to join,
utilize, started utilizing the Casper 2.0. I guess my next question is, I guess even for Web3 native developers often face steep learning curves with the blockchain.
How does Casper 2.0 lower the barrier and as well as for the Web2 developers to,
what are the challenges that the Web2 developers could face utilizing the Casper 2.0?
Sure.
Well, hopefully we're addressing all those challenges, and I'll tell you how.
So Casper supports smart contracts written in Rust using WebAssembly.
And Rust is one of the many languages that can be compiled to WebAssembly.
So there is actually numerous other sort of mainstream languages that can be supported.
But the main benefit there is that developers do not have to learn a new blockchain-specific language like Solidity, right?
It's very popular in the EVM world.
So I don't know if you're familiar with Stack Overflow.
It's a very popular developer forum, but they do this annual developer survey,
and they ask all the
sort of global software engineers to respond to questions, including like what programming
languages that they like and work with and are familiar with.
And Rust as a language consistently ranks year after year as one of the most popular
programming languages in the world, whereas languages like Solidity barely register as
a blip on the radar.
Like I mentioned in a previous question that I think there are maybe 20,000, 25,000 people
in the world who know Solidity.
There are tens of millions who know mainstream programming languages.
So we are targeting those tens of millions of software engineers, not the few thousands
that have some exposure to Solidity already.
And then beyond that, there are SDKs that we make available in familiar languages like
JavaScript and Go and Python.
We have developer tools on Casper that are designed to align with how modern software
is built.
The network supports modular development and automated testing, presenting a significantly
lower entry barrier compared to other chains.
And more importantly, the goal is to make blockchain development
feel more like regular software development.
Because we believe real innovation will only happen
when we open the blockchain space to the millions of software developers worldwide
and not just the Web3 specialists.
And those millions of software developers that work at real-world companies,
they're used to test-driven development,
have end-to-end testing solutions,
have deployment pipelines, and things like that.
And it simply doesn't exist in the Web 3 world
in a comparable way as it does in the Web 2.
So we're excited about bridging that gap as well
for the existing base of millions of software engineers.
All right. Thank you, Michael.
If the developers want to learn more about the Casper 2.0,
then if they want to refer to the documentations,
where can they find those documentations and how can they check in?
And I think if you, do you have any educational resources or seminars?
Yes, no, of course.
So obviously, like main information about Casper, you'll find that Casper.network.
That's our main website from there or directly.
You can also go to docs.casper.network where you'll find tons of developer documentation, resources, tutorials, walkthroughs, concept explanations, et cetera, et cetera.
So really very in-depth information for the developers
amongst you that may want to get started.
All right, thank you very close.
So please give them a follow.
If you're interested in learning more about the officer docs
and resources, if you want to access the resources,
please check out their
official accounts first of all and i'm giving them a follow showing them support um casper
underscore network that's his twitter handles and also follow the michael steerer uh msstst msst e ue r the twitter handle you can just click that icon on the on the speaker on the stage
or the Twitter handle, you can just click that icon on the speaker on the stage,
and you can just give a follow.
And for the official website, as he mentioned, casper.network,
please access them, check, learn more about the Casper 2.0.
All right, thank you, guys, and thank you, Michael.
Let's move on to number four question.
So what role does the Casper Association play in shaping the network and expanding the ecosystem?
And how does this support long-term trust and neutrality?
So the Casper Association is a Swiss nonprofit organization, and it is responsible for supporting the ongoing development and the long-term health of the Casper Network.
So the Casper Association guides the technical direction
of the network towards real world utility.
And we enable systems to be built on chain
with auditability, upgradability, and the access controls
at their core, as I just explained.
We ensure that core protocol developers
can work on the Casper protocol in concert with each other.
So we help sort of orchestrate that work.
We ensure that DAP developers have the documentations and tools that we just referred to so that they have what they need
in order to build on top of Casper.
And that the node operators, the validators,
and anybody such as Gate.io who run their own node,
their own Casper node, have what they need to run those nodes.
And additionally, the CASP Association
also is mandated to promote maximum decentralization
of the network and the protocol.
So to.
All right, thank you very much. hope i think yeah i think i got cut off there it's uh oh you
did okay i thought it was mine where where did you lose me um well i didn't it said hold on a second
um well i think it was like i heard it until like five seconds
okay so then we're good yeah are we good okay yeah all right okay so thank you very much all right so
yeah let's go let's move on to number five question this is the last question from us so
you celebrated casper 2.0 network and uh dancing
and partying right now probably um i'm sorry i was just dragging down and out of out of the party but
all right it's been a long day of work yeah no but yes i'm happy to be here
sounds great amazing thank you very much and uh appreciate that for just taking the time for this
uh what so what's the vision what's your vision for the next phase after this event, the Casper 2.0 launch?
And where is all this going to be headed?
Sure. So as we discussed today, literally, let's see, it's about 18 hours ago, I want to say,
we launched Casper 2.0 on the mainnet.
It went completely seamlessly.
It was a big and massive milestone
that was really two years in the making.
It involved several hundreds of thousands of lines of code
that have been added or changed in
the Casper Protocol software stack.
So really, really big accomplishment for our engineering team.
But Casper 2.1 is already underway.
So from now on, while we've spent
just about two years working on Casper 2.0,
we expect to be on a quarterly release schedule going forward.
So you should see Casper 2.1
hit our main net within three months from now.
And one of the main innovations in Casper 2.1
will be the addition of a new virtual machine,
the second one to run in parallel in our new multi-VM architecture.
This new virtual machine provides for an even further simplified
smart contracting interface for developers with new features and capabilities.
For example, self-describing contracts that allow you to auto-generate SDKs
and even apps for your smart contracts based on this self-described
metadata. So you can imagine that this could open up very interesting capabilities, for example,
for artificial intelligence-based software developments or apps that can spawn new contracts.
It's really the sky's the limit with that. And then from a use case perspective, we are very
eager to share announcements with you in the next few weeks around new use cases coming online on Casper Network.
And you should expect most of those, probably not surprising based on what we've discussed
so far, most of those to be in the areas of real world assets, both from a tokenization
perspective as well as governance and compliance um so the release of casper 2.0
in the in the past day is really what kicks off a whole new future um we believe not just for
casper but uh hopefully for the industry as a whole uh because we think it represents uh finally
a blockchain that meets the real world where it is it provides layered ownership and governance
and compliance and it's all natively enforced on chainchain. All right, thank you, Michael. My follow-up question before we're moving on to
Q&A section from the community, you might have touched upon this, but I think you
launched the Casper network before 2.0 and well, my question is how did you initially um identify the problem real
world of problems uh in the web 3 and not just in the web 3 and also real world and how i mean you
provide the solution through the casper and it was a lower the value of entries to for the developers
to develop on top of the casper so also from the moving on from Casper to Casper 2.0, what are the challenges you guys
had and what are the problems you guys that you identify and how you identify them? And I mean,
you provide a solution through the Casper 2.0, I believe, but yeah, how do you guys identify those
problems? And what are the challenges you guys face to launch the Casper 2.0?
Well, I think with any product, and for those of you amongst
the listeners who've been involved in building and launching products and companies,
there is a phase of finding sort of product market fit, right? Like you go out with what
you believe is your best effort, but you develop in what is in essence sort of a vacuum, and then
you go to the market and find out what works and what doesn't.
And Casper 2.0 is really the result of what we found out
in sort of that product market fit process.
And that's thankfully where we were in a position
that allowed us to go through that process
and really sort of fine tune
what we believe is what the real world really needs.
And it coincides with a moment in time
that the real world is actually ready
to start integrating blockchain
because that really hasn't been the case for too long, right?
Like if you look at the blockchain industry,
it's been very focused on itself.
It's building solutions for itself,
and we think it's time for the real world to catch on. So that's what we've been focused on. Those
are the problems that we've identified and the solutions that we've built towards.
All right. Thank you very much, Shane. I think this is not just the technicals and technicalities, but I think this is more of a non-technical, more like a regulatory compliance side.
So you guys are building, I believe it's based in, you said it's based in the Swiss or in the US?
The association is headquartered in Switzerland.
Switzerland.
The Swiss Association.
Okay.
Okay.
So, I mean, what are the regulatory challenges that you could possibly face in the future,
or you might probably have faced, not just in Switzerland, but also around the world,
especially in the West, like the US?
What are the strategies for you guys to expand in the market around the West?
Sure.
So that's a very interesting question because, as we touched on a little bit earlier, the regulatory environment is constantly changing, right?
So we are based in Switzerland and very happy to be based or to have been based in Switzerland because it actually has a very mature regulatory environment that doesn't have a lot of the sort of unclarities that you find in some other countries like the U.S.
until, well, including the present, but until recently for sure.
And there are legal and regulatory frameworks there that allow you to set these things up in a way that are fully compliant,
fully blessed by the authorities.
We are an official Swiss-regulated nonprofit association that has to file annual reports with the local governments and gets audited and submits its financials.
And I mean, it's fully regulated, I should say.
That means that we're, in essence, in compliance around the world, right?
Because ultimately, they look for regulatory compliant entities in their home jurisdictions.
And that's something that we are talking about the U.S.
And there was actually news today.
I don't know if you follow that, but there is a new version of sort of the crypto legislation that was put out by Congress yesterday, I should say,
which is a sort of a next version of what was called FIT21 before. And that describes sort of
the regulatory parameters around what is considered a decentralized protocol and what kind of
registration and regulatory aspects they need to comply with
and based on what's being put forward by by congress and it's really um sort of it centers
on level of decentralization making sure that there's no single party that owns more than a
certain percentage of uh of the network and has uh unilateral control over things and things like that. We believe that we are in full compliance with the proposed regulations in the United
States as well.
So we're excited about those opportunities as they mature and as it goes through the
legislation process in the United States.
All right.
Thank you very much for transparency on the regulatory environments and regulatory compliance
strategies and
etc for you guys um yes the fit 21 as he came out of the news i mean you can just refer to some of
the news i think that coin desk recovered i think i covered it during the last uh yesterday's live
live stream on a get live live room so uh if you guys can just missed out you can just go ahead
and refer to that um so uh basically just use use it's one step ahead of the first step.
I think the first step to just, you know, give it give it give it the
U.S. based businesses, digital assets, banks, including the banks as well
and institutions, guys, to have the clarity on the regulatory framework.
So it's exciting because that clarity is really what's been missing in the U.S. institutions, guys, to have the clarity on the regulatory framework.
It's exciting because that clarity is really what's been missing in the U.S.
market and why so many sort of entities have been afraid to touch the U.S.
Right.
And I think with sort of this legislation and others like it, like the Genius Act and other things moving forward, that will very significantly change here in the very near future.
100%, 100%.
And also, it's not just the U.S., also in the Australian governments,
and they are working to push that as well framework.
So thank you very much once again, Michael,
and thank you very much for our audience to stick around right now at this point.
So we are moving on to Q&A section.
I mean, there a a interesting question
as well some of the question might have been touched upon but uh if you could just uh give
your summary or elaborate on some some of the questions uh questions yes so uh let's move on
to the number one question coming from practice in the underscore qt so many projects just want
to talk about long-term visions and admission yes. Yes, correct. But what are your short-term goals?
What are you focusing on right now?
Good question.
And actually, a very good observation.
Because yes, a lot of projects do
talk about long-term vision and mission.
But I think it's important for projects
to have a long-term vision and mission.
Because without one, you cannot judge your near-term priorities and determine what short-term goals really help build towards that long-term vision and mission
and which are probably better not to focus on right because it may not be
important to your your long-term strategy so every project in my view should be clear on what their
long-term objectives are i think that we as Casper are very clearly laid out where we see the blockchain industry evolving
and what Casper's role is in it.
I've talked about it in my answers to earlier questions today,
and we've clearly laid this out also in our communications
around the Casper 2.0 launch over the last few days.
And to summarize it, I mean, we believe that blockchain
during this first phase of its
existence has mostly been focused on building solutions for itself. And basically things like
how can we improve or come up with new ways for crypto native users to interact with the technology.
But the next phase of this industry will be about how blockchain will integrate with the real world,
which is infinitely larger and infinitely more complex than our little Web3 sandbox.
So Casper 2.0 is really designed to enable that real-world integration.
I described this before, but it's instant finality, the access it provides to traditional software developers,
the approach it offers to mirroring real-world constraints that businesses and
real-world processes demands, such as access permissions and upgradability and
layered governance. These are all tailored to enable the integration of blockchain
technology into the larger world. So short-term goals are there to achieve
that long-term vision. Obviously something that we've been focused on right now,
as this user asked, is the rollout of Casper 2.0
that happened today and really puts in place
a lot of the fundamental architecture to build on.
And just in the past, like I said,
I think it's been 18 hours with Casper 2.0 live on mainnet
for not even a day.
We already see that certain metrics such as block finalization times on our network are over 100 times faster with our new consensus protocol than they were before the upgrade.
So what we're seeing is very promising for what can be achieved in the future.
And we have a lot more coming in the months to come. I think months to come counts as near term, especially in our blockchain industry
where months translates to years.
So for example, we are rolling out a new virtual machine,
as I just mentioned, in a few months,
which will make it easier to develop
real-world-ready smart contracts on Casper.
We are also, and this is exciting as well,
we are changing the way that blockchain projects
handle gas fees by introducing a gas fee model that makes interacting with blockchain applications essentially free,
which will allow businesses for the first time to accurately model the cost associated with integrating blockchain with their existing or broader applications.
applications. And finally, it's about use cases. It's all about use cases. So superior technology
And finally, it's about use cases. It's all about use cases.
is a nice thing to have, but ultimately adoption is what drives the success of any technology.
Who here remembers Betamax, right? One of our, well, by the response, not too many.
One of our most important short-term goals is to very quickly accelerate the adoption of Casper's technology with partners and projects that fit our long-term vision.
And you can expect a good number of announcements in that area in the weeks and months ahead.
I appreciate it.
Excuse me.
Yes, even in short term, I think there is going to be a lot of things going to come on.
I mean, I think I would like to ask a lot of things going to come on i mean i i i think i i would like to ask a personal fearful of question on that one i mean you guys have like it just uh improved that
i mean i guess improvement or improve a lot of achieved a lot of improvements uh through the
cap cap casper 2.0 how big of your team is especially in the development team? Sure. So we have a pretty efficient team.
We basically have, I would say, a total of about 40 to 45 people
working on the core work, which includes the broader ecosystem
tools, like the block explorers, and the wallets,
and the SDKs, and things like that.
And the vast, vast majority are like directly in engineering.
And then obviously there's ecosystem marketing
and sort of the general overhead as in accounting
and legal operations, et cetera, right?
So I would say it's probably two-thirds in engineering.
All right, Wes.
I mean, amazing to be able to establish a solid team
and with so much talent around the world.
I mean, I'm assuming that's just around the world.
Thank you very much.
You are correct.
They are, in fact, around the world.
So as I mentioned, I myself am based in Los Angeles, California,
and I'm probably pretty most west of our team
because everybody else is either further east in the
u.s or in um in europe and in asia and we even have people in uh in australia as well
awesome awesome thank you very much for for the transparency as well uh thank you very much guys
um so let's go guys uh to this next question coming from adEX, ADEX92.
How do you plan to ensure the sustained growth
and the utility of CSPR, which you believe you mentioned,
within its ecosystem and beyond?
Got it.
Great question.
So as I just said, adoption is the name of the game.
CSPR is the utility token of the Casper network that powers it
all. So with a lot of the game. CSPR is the utility token of the Casper network that powers it all.
So with a lot of the technology to support the transition of the blockchain industry from an inward-facing ecosystem to one that enables real-world applications now in place with Casper
2.0, we are really focused on onboarding those use cases that leverage all that. So we have a
number of promising use cases that we're expecting
to hit our mainnet in the very near future. Can't give all of them away because these announcements
are coming in the weeks ahead, but you should expect to see us focus on projects in the real
estate space, in the yield-bearing real-world asset space, and in the real-world compliance space.
Those are really the areas where businesses outside of the Web3 sandbox are coping with
on a daily basis and where we believe blockchain and Casper with its unique features in particular
can play a very meaningful role.
All right.
I appreciate that.
I mean, I have so many questions, but let me ask one more question.
Maybe we should schedule another one of these uh danny like
as for all these questions yeah i mean i mean you guys what you're doing what you guys doing is
amazing i think there is a lot of potential even just for the in the real world use cases that's
why i have so many questions i mean um the next question. Well, think about this before you ask your question, right?
So the entire blockchain industry, the value of blockchain as a whole is, I think, 2 point something trillion dollars, right?
The single largest asset class in the world is real estate, and it's measured in the hundreds of trillions of dollars, if not quadrillions, I think is the next level up.
So we're really just scratching the surface of sort of real world integration and what's possible out there.
We're truly in sort of as an industry, we're in infancy of adoption.
Right.
I mean, adaption is key for the Web3 ecosystem to grow.
I mean, but we have a lot of great technologies, including Casper 2.0.
But why haven't we haven't seen so many adaptions, so much of an adaption that we expected it in the last cycle or in the last cycle, even since four years ago
or even more than that, a long time ago.
So how come we haven't seen that level of adoption
as we expected or predicted it at some point?
And what are the challenges that you guys are facing
for the businesses to understand what the blockchain is
and what you guys are offering?
Sorry, go ahead.
So I think that's a very valid question. I think it's not specific to Casper. I think
that's a question about the industry. And in my view, there's a whole lot of different
answers to that. First of all, I would say the real world doesn't care about our bull cycles,
like this is something that we have invented, at least from how it relates to the crypto industry.
If you are a CIO at a large real world enterprise, you don't care at all about the fact that crypto is going through a bull cycle.
You care about solving your problems and doing it in a way that is responsible, secure, and works with your existing processes, your existing regulatory environments.
And most importantly, if you employ tens of thousands of people, you want to not have to hire tens of thousands more or retrain them all in order to do this thing.
So I think the real world wasn't ready.
The bull cycle didn't matter.
And as a result, the crypto world continued to basically build solutions for itself.
There has just not been enough sort of proof of utility of integrating blockchain with real world environments.
And that comes from both directions, right?
Like the crypto world being focused on, like,
what's the next DeFi thing or meme thing that we can do?
And it's the real world not being ready to adopt this
because the regulatory environment wasn't clear.
The process engineering, all those things weren't clear.
And it just took longer than we in our Web3 world
who like to move past, break things fast,
and then try again, were prepared to wait for us.
So we continue to do things for ourselves
and build meme coins and build NFTs
and build all those things.
And now we're in a different place.
We're at the precipice of this real world adoption.
And you see that every day, like the amount of announcements that you see of like real companies that are 100 years old,
that are coming out with with blockchain integrations and plans to add Bitcoin to their balance sheets and diversify the way that they invest in the world is just astounding.
So it's just, it's right time, right place, I think is the answer in short.
Thank you very much, Michael.
That's the answer I really wanted from you, but thank you very much.
And yeah, I covered a lot about the institution.
I mean, there's a lot of market updates and news regarding institutional adaptions and demands coming into the Web3 industry.
So thank you very much for that.
Yeah, I 100% agree upon what you just said about that.
Let's move on to number three questions. Rama3344. The question is, what are the key advantages of Casper's upgradable smart contracts compared to Ethereum's immutability?
I like it. Rama is asking technical questions.
So, first of all, just to clarify something, it is possible to deploy smart contracts on Casper in a non-upgradable way as well as an upgradable way, right?
contracts on Casper in a non-upgradable way as well as an upgradeable way. So there are use cases
where you don't want a contract to be upgradable, but these use cases are mostly crypto-native use
cases where you want to release a smart contract and basically say, hey, we are throwing away the
keys, either proverbially or actually. It belongs to the community now. It is what it is. Take it
or leave it. We can't do anything with it. It's your problem now. And that works in the crypto native worlds. That's not how businesses in the
real world work, right? That's certainly not how regulated industries in the real world work.
Even Ethereum developers have realized this over time and they have come up with workarounds to
circumvent the immutability of their smart contracts by implementing things like so-called
proxy patterns where they put a smart contract out that essentially passes transactions from
the user to a target contract.
And you can change the address of that target contract.
So if you upgrade or you want to release a new contract, you basically introduce a new
target and then you update your proxy and it points somewhere else.
So this proxy pattern workaround is just
highly susceptible to exploitation.
And many well-known exploits in Web3's history
can be attributed to exploited proxy pattern contracts.
So in Casper, you don't need to use any workarounds.
The protocol basically provides a package manager
for smart contracts, similar to how developers might already
be familiar with projects like NPM in the JavaScript world, where you can add new versions of a contract,
activate versions or rollback versions, and share state between versions, all seamlessly and all
secured by the native cryptography of the underlying layer one Casper protocol. So that is what real
world software engineers
that work in real companies and traditional environments,
that's what they're used to.
It's what they expect from a mature platform.
And Casper is uniquely designed to provide just that.
What's interesting is that if you combine it
with our access control features,
where you can allow certain groups of people
to perform specific roles in a smart contract,
or you combine it with our built-in multi-signature capabilities.
You can design very advanced governance structures around upgrading your application,
where you make it so that only users in a specific role, let's say C-suite users,
and only if they reach consensus above a certain threshold,
so let us imagine it's a C-suite board
and you need to have a majority,
only then can they perform an upgrade function
on a smart contract.
So it's really a very, very powerful capability
and it's truly unique in our industry.
100%. Thank you very much.
Yeah, I hope he answered michael answers his
questions answer your question so uh the next if not uh hit me up on x so happy to go deeper
all right so michael is always reachable uh you can reach out to michael through dm
uh on their x so please forgive him. A fantastic guy and very well experienced
in X version in Web3, not just Web3, but
probably Web2 as well.
What's your background in Web2, if you don't mind me asking?
Oh, no, for sure. So now I'm going to age myself
because I started in the mid-90s back in Europe
in the, well, first the e-commerce industry,
then I got into mobile applications. I actually put out the first premium SMS applications across Europe,
and many of you will probably not even know what I'm talking about.
But so think about texting ABC to 123 and you get your horoscope for 99 cents a pop.
And then from there, as mobile evolved and became more powerful, around the year 2001, I became the CTO of one of the largest video game publishers in the world for mobile.
And then from there, as mobile evolved and became more powerful,
And we developed the first downloadable mobile games.
We put out, together with Sun and with Siemens, the Java mobile profile, J2ME, which was the first downloadable mobile games.
Well, yes, actually outside of Japan, I should say.
And that really sort of introduced mobile gaming
and the app economy.
And that's got me caught in the mobile gaming industry
for about 15 years, and from there on into Web3.
So I've been around for a few decades.
I have seen things come and go.
And I'm truly very excited about where we are in our Web3 industry
because I really believe we are on that precipice of real-world adoption.
And I've seen it happen in these other industries that I've been in,
such as mobile, such as gaming, such as mobile technology.
And it's right there.
So that's my background.
Wow, that's amazing.
I mean, first mobile game, is that like a Tetris kind of stuff?
So we actually did do Tetris.
It's funny that you bring that up.
So we, yes.
So the first games that we put out were a few.
We had a THQ, which is the company
that I was the CTO for mobile at.
We did MotoGP, which is sort of the Formula One
for motor racing, motocross, right?
We did WWE wrestling.
And then we licensed Tetris from EA and put out
the first mobile Tetris
downloadable games as well.
So that was a coincidental
hit that you had there, Danny,
but that was in fact us who put out
Tetris as well.
I mean, I'm based in Japan,
so I kind of like, you know,
not very deep dive in the gaming space,
but yeah, I kind of know about that.
So my Japanese claim to fame is that I was the one who brought iMode to Europe.
So iMode was very successful with Docomo in Japan in the mid to late 90s.
And we introduced it in the Netherlands and Belgium and Germany as well in collaboration with NTT.
So I'm familiar with what went on in the Japanese industry as well.
All right.
I think you're breaking up again for me.
I mean, you're much.
Ah, yeah, I can hear you again. Can you hear me? OK. That's all right. I just got a're a much. Yeah, I can hear you again.
Can you hear me?
Okay.
I'm sorry.
I just, I got a call.
Okay.
So, I mean, I think it is just some questions that I could ask.
The person like you that you just went through, like, from Web to Web 1 and with innovations from Web 2, from Web 1 to Web 2, now Web 3.
I mean, you saw that all kinds of changes, innovation, revolutionized products, and et cetera,
and also the transition phase from Web 1 to Web 2.
There was, like, a lot of challenges that hindered innovation through the transition.
So, I mean, I think we saw that.
We kind of still see in that phase.
I think we see in the phase, the transition phase
from businesses and enterprises and
governments still catching up the tech tech uh technologies in the web 3 web blockchains and
including web blockchain technology so i mean i think how far we could go from where we are
in terms of technological innovations as well as the market adaption what are the potentials
as i mentioned like we are just scratching the surface.
Like if you just think about sort of the value that's transacted within crypto,
it's a blip on the radar of like the real world out there.
Like it's like, well, everybody's excited about like Bitcoin is
as a $2 trillion or not even value.
That doesn't make it like it doesn't come close to some of
the larger asset classes. Right. So and just think about what will happen once blockchain really
gets integrated with these real world use cases and becomes as prevalent as some of the things
that you don't even think about anymore. Right. Like you expect things to just work when you go to the supermarket
and pay with your credit card, but there is protocols underneath that.
Same thing with your cell phone.
Back in the day, and this, again, like we just talked about what I did
back in the 90s and early 2000s, as a user, as a consumer,
you knew about things like GSM versus Edge versus 3D
and whether you're on CDMA or GSM or iMode or WAP, et cetera,
because people were talking about technology
and how it was like innovating, right?
And so sort of the parallel of what we're seeing now,
people are talking about different blockchains,
et cetera, et cetera.
But nobody talks about the technology
of their cell phone anymore.
They just expect it to work and it does most of the time. Right.
And that's, I think the future that we are working towards in blockchain as well,
where it just becomes a critical and essential part of everything due to that we,
everything that we do in our day to day life without consumers and retail really
thinking about, Hey, I'm using the Ethereum chain.
I'm using the Casper chain and using the whatever chain. It just is expected to work. And that's,, hey, I'm using the Ethereum chain, I'm using the Casper chain, I'm using the whatever chain.
It just is expected to work.
And that's, I think, what we're all working towards.
All right.
Thank you very much, Michael.
I appreciate that.
I mean, this has been a great session, but we got two more questions to go.
Okay, I'll stop asking my personal questions.
All right. But next question coming from Kitty. more questions to go okay i'll stop asking my personal questions all right uh but uh next
question coming from kitty uh with multi vm flexibility so we're going back to technical
uh what onboarding programs to target robust uh sorry one more time uh what onboarding programs
uh target rust and solidity developers outside of web3 to expand the builder base. Also explain how Casper
milligates reliance on bridges for legacy assets in floats while building native stable liquidity.
That sounds like it actually is two questions. Yes.
We're cheating a little bit, but I'll try and answer quickly.
So regarding the multi-VM flexibility,
so we are, as I mentioned, excited to add a second VM that's shipping with Casper 2.1.
It's really the proof that we can run
and developers can specifically target
multiple virtual machines on the same layer one.
With partners, we are also exploring
alternative virtual machine projects
that might provide targeted functionality
for specific use cases, such as identity,
zero knowledge you can think about,
or smart contract development access
in specific programming languages
that are popular in the real world.
Wouldn't it be great if you could develop in Python, which
is super popular in the enterprise world.
We are excited about showcasing some of that soon.
And then regarding the reliance on bridges, we strongly believe, and I think the user who asked this question does too,
that the future of the industry is really a multi-chain future, like I just described as well.
As a consumer, ultimately you don't want to be locked in to a specific chain and just
you expect your applications to work.
Bridges certainly perform an important role in multi-chain environments and will probably
be the predominant way of moving assets in and out of blockchains, at least in large
volumes for the foreseeable future.
However, bridgeless asset transfers are certainly up and coming,
and we are engaged in conversations with other ecosystems about this as well.
So this includes some of the better known stablecoin projects
that are working on initiatives in this space,
as well as protocols such as Actis,
which Casper is actively involved with,
in order to algorithmically describe financial instruments with the ultimate
goal of being able to have a common language between parties when creating and acting on
and moving assets both on-chain and off-chain.
So check out Actus as well if you're doing more research on sort of interesting initiatives
in the industry.
Thank you very much, Michael.
Actus, you said? Yeah, Aus interesting i'm gonna check it out as well thank you very much michael all right so
let's move on to number five questions um are you sure this is going to be one question i mean i do I mean, I do, but we got a little bit of questions. So, all right.
I mean, very, I mean, okay, let's move on.
Let's move on.
Number five questions.
If I have a taboo, I will just ask a personal question that lasts after this.
So, as a big, big price movement leading up to the launch of Casper 2.0.
So, this is like token price action.
If you don't want to answer, that's fine.
How do you see the community sentiment sentiment evolving now that uh update has gone live what role does the casper community play in
the long-term success of the network back to you michael sure so yeah you predicted uh correctly
that i really can't comment on price movements uh but of course we are very encouraged by the
positive sentiment that we're seeing all around casper and specifically around the Casper 2.0 upgrades.
And by now it's 19 hours ago, but it's obviously still early.
But the sentiment just really has been phenomenal.
And we believe that community is what makes and breaks ecosystems.
And we really couldn't be happier with and prouder of the Casper community.
And we also, as we discussed earlier, we believe that true decentralization means that the
community has to have a strong role in the governance of blockchain projects as well.
And in recent months, we have announced that we're implementing on-chain mechanisms to
allow Casper holders, so CSPR holders, to have a more direct impact on the governance
of the project.
So already and since Genesis,
obviously we're a proof-of-stake protocol,
which means that the validators are the ones
who decide which upgrades to the protocol
get accepted and launched on the network and which don't.
But now the validators who in proof-of-stake
or in delegated proof-of-stake
really represent the people that delegate to them,
can also vote on other important governance topics
that affect the chain and the project.
So several on-chain votes have already taken place
and this will only pick up in pace in the future.
And in parallel to that, we are implementing changes
to the way that the Casper Association itself is governed
and incorporating an on-chain governance component into the legal structure of the project.
And this is being done in a way that's never been done before in our industry.
As a Swiss non-profit association, there will be certain decisions where the on-chain vote will
be legally binding and recognized by the Swiss authorities as a legally binding decision.
and recognized by the Swiss authorities as a legally binding decision.
So it's another true example of where we see the Web3 world crossing over into the real world.
All right, amazing. Thank you very much.
OK, yes, this is not nothing we discussed as financial advice, so please, this is only educational purposes.
And I know it's a great educational session and put the pack of the information sent out there. Thank you very much, Michael. Yeah, so we're running out, but
before we let you go, is there anything else that you want to share? I mean, you had a lot,
tons of stuff, but if you want to share anything else to our audience.
I think your audience has had enough of me.
But I really want to say thank you to you.
This was a really engaging conversation.
I really enjoyed it.
And thank you to your audience for sticking with us
and showing interest in our project.
And as Danny prompted a few times,
check us out on socials, on our website.
Follow us on X, on our website,
follow us on X, join our Telegram.
And we really believe it's all about community.
And we'd love to have you as part of the Casper community.
All right.
Once again, I appreciate that.
And big props to you for the launch.
And congratulations and big props to you guys
and your engineering teams and the whole team for the success of a Casper 2.0 launch and wish for the best and
best for the best and for the success for the future endeavors for you guys Casper Network
thank you very much Danny really enjoyed the conversation always happy to do it again
yeah same here likewise thank you very much and you very much, guys, for the audience to watch this.
I mean, watch this on our Gay Live Live room as well as on X, listening to on X.
Thank you very much for sticking around to the end.
So for the Lucky Joe winners, we'll be announced after this AMA.
So please stay tuned.
And if you guys haven't followed us, Gay Live official accounts, please do so right now.
Follow us, K-Live official accounts.
Please do so right now.
Get live, get IO live on X and also get IO,
get live official accounts on the get live live room.
Thank you very much, guys.
And show them support by yes, as he mentioned,
just check them out, check out their socials
and check out their websites and official documents
and resources they provide to you guys for developers
and for the users of Casper. And if you guys interested in joining the community please do so and start getting
involved right now all right we're still early and uh once again um thank you very much guys
and rewards will be distributed uh within the 14 working days so please be patient all right and
the next uh ama uh we'll announce also on a get live offshore account. So please stay tuned.
All right.
So I hope you guys learned a lot about the Casper Network today.
And I hope you enjoyed this AMA session.
And take care, guys.
And I hope you guys have a fantastic day, afternoon, or night, wherever you guys are.
And Michael, have a great night and great evening to you.
All right.
So I'll see you in the next AMA.
Thank you, guys. And stay safe, stay stay safe stay healthy bye-bye thanks everyone bye Thank you.
