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Incentives in Ethereum's hybrid Casper protocol

Author

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  • Vitalik Buterin
  • Daniël Reijsbergen
  • Stefanos Leonardos
  • Georgios Piliouras

Abstract

We present an overview of hybrid Casper the Friendly Finality Gadget (FFG), a proof‐of‐stake checkpointing protocol overlaid onto Ethereum's proof‐of‐work blockchain. We describe its core functionalities and reward scheme and explore its properties. Our findings indicate that Casper's implemented incentives mechanism ensures liveness, while providing safety guarantees that improve over standard proof‐of‐work protocols. On the basis of a minimal impact implementation of the protocol as a smart contract on the blockchain, we discuss additional issues related to parametrization, funding, throughput, and network overhead and detect potential limitations.

Suggested Citation

  • Vitalik Buterin & Daniël Reijsbergen & Stefanos Leonardos & Georgios Piliouras, 2020. "Incentives in Ethereum's hybrid Casper protocol," International Journal of Network Management, John Wiley & Sons, vol. 30(5), September.
    • Handle: RePEc:wly:intnem:v:30:y:2020:i:5:n:e2098
    DOI: 10.1002/nem.2098
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    Cited by:

    1. Koki, Constandina & Leonardos, Stefanos & Piliouras, Georgios, 2022. "Exploring the predictability of cryptocurrencies via Bayesian hidden Markov models," Research in International Business and Finance, Elsevier, vol. 59(C).

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