Casper

Casper refers to the Ethereum Proof of Stake (PoS) Protocol that was designed to replace Proof of Work (PoW). Casper was introduced as a key component of Ethereum's transition to Ethereum 2.0, aiming to make the network more energy-efficient, scalable, and secure. In the PoS system, validators are chosen to create new blocks and confirm transactions based on the amount of cryptocurrency they have staked (locked up) as collateral, rather than competing through energy-intensive computations like in PoW. Casper also introduced penalties for validators who act dishonestly or go offline, ensuring greater accountability and network stability. This protocol marks a significant evolution in blockchain technology by reducing environmental impact and encouraging more decentralized participation.