Ethereum price (ETH/USD): First version of Casper FFG released for audit

Casper developers start tagging releases to ‘help clients and external auditors more easily track the contract and changes’

Ethereum price (ETH/USD): First version of Casper FFG released for audit

A new version the Casper update to the Ethereum network has been made available for wider scrutiny by auditors and client developers, industry website Coindesk has reported.

As noted yesterday by Coindesk, Danny Ryan, the developer behind Casper Friendly Finality Gadget (Casper FFG), has posted version 0.1.0 of the software to GitHub. Ryan explained that “v0.1.0” marked the beginning of an effort to more clearly tag new releases “to help clients and external auditors more easily track the contract and changes”.

Casper FFG is the first version of the Casper update, which is meant to change the way consensus is reached across the Ethereum network. Casper FFC will manage Ethereum’s switch from a Proof-of-Work consensus algorithm, to a combination of PoW and Proof-of-Stake (PoS). Instead of ‘mining’, the latter algorithm uses a voting system to validate the changes to the Ethereum blockchain. Under this system, the validators are required to put down deposits of Ether, which they risk losing if they attempt to cheat.

In its initial stages, Casper will continue to rely mainly on PoW, while PoS will be used to periodically validate “checkpoints”. Due to the limited number of validating nodes that can be handled by the network at this stage, the minimum deposit will start off at 1,500 ETH tokens. The plan is for Ethereum to eventually move to PoS entirely and for the minimum stake to be lowered.

Version 0.1.0, dubbed “first release”, cannot be yet implemented, as more code needs to be written for Ethereum clients. The code also has to be examined by external auditors.

In today’s trading, the Ethereum price stood at $747.48, as of 15:29 BST. The digital currency has gained 1.5% in the past 24 hours, according to data from cryptocurrency tracker Coinmarketcap.

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