Today at 4 o’clock in the morning it was time. Casper, the friendly final gadget (FFG), was released on Github. The Ethereum Improvement Proposal 1011 includes the release of „Hybrid Casper FFG EIP„.
Hybrid Casper FFG
The improvement proposal for Ethereum includes the hybrid model of the Casper proof-of-stake upgrade. This ensures that the current algorithm is changed from proof-of-work to proof-of-work and proof-of-stake. With this hybrid model, it is possible that possible undiscovered errors in the proof-of-stake algorithm will not lead to disaster.
With this hybrid model, errors could be caught and, if necessary, the proof-of-work algorithm helps to secure the Ethereum blockchain.
Casper Version 1
The protocol upgrade Hybrid Casper, also called Casper Level 1 or Version 1, changes the proof of work. In addition, proof-of-stake extras and a fork selection rule (i.e. how to choose which chain is the right one) are implemented.
In order to participate with one’s own ether in the Casper Contract and become a validator, ether must be deposited and the user must be included in a validator pool, whereby he can then participate in the PoS consensus.
With the contract also some rules are implemented, which are called „Slashing Conditions“. For example, if two incompatible blocks are found by a validator and both are signed, then the slashing conditions must apply. The „slashing“ means that the assets of the validator who makes wrong decisions or wants to cheat the Ethereum network are burned.
Interesting is the extra „Casper-Fork-Choice“. With this extra it is possible that Ether users can decide which Ethereum blockchain they want to follow. For example, if 51 percent of the miners or 51 percent of the PoS validators were „bad“ and want to harm Ethereum, you could choose the other side.