The Casper Project was created for decentralized applications (DApps) to help save data from users on a network more reliably and efficiently. Casper API can be described as a project created on the blockchain to store large data and enables the creation of file storage such as text, audio, 3D models, videos and photo files to arrange the best ways to deliver content, to process and store corporate data and to save backups.
What is The Casper Token?
Casper API makes use of its own monetary unit which is called Casper Token (CST) which is solely used within the service by service vendors to buy a franchise and also for settling payments on every single blockchain platform. Once the tokens have been issued thanks to the ICO, they will be able to be traded freely on exchanges.
How Can The Tokens Be Used?
The tokens can be used on the Casper network to charge members for storage services and also as a means to pay storage suppliers for their services. The way it is implemented is based on the blockchain with its very own viable monetary unit. With the ability of Casper to be launched on various blockchain platforms having smart contracts, storage suppliers can accept users’ storage orders simultaneously from numerous blockchain platforms.
1 CST is equivalent to 1 gigabytes of storage space to be able to supply the storage demands of the Casper service, whilst being rewarded for it. This opportunity is only given to holders of the CST. For CST holders with no free storage space, the CST can be leased out to those willing to be suppliers so both can receive rewards associated with token usage. There are no limitations to selling the token as it can be sold at market value on any exchange.
Issuing of Tokens
The Initial Coin Offering (ICO) is broken into two stages: The PRE-ICO and the ICO. The PRE-ICO took place on the 18th of December 2017, and its purpose was to enable the purchase of tokens as a distinct smart contract and not according to the ERC 20 standard which the ICO is going to use. The issued tokens are limited and cannot be traded at an exchange. As at the completion of the pre-ICO, the Casper Project was able to raise $1,040,000 of capital via ETH. The tokens were then to be converted to CSTs with proper smart contracts.
The tokens that are to be issued at the proper ICO are to come with ERC 20 standard smart contracts which can be traded on the exchange. The smart contracts are based on the Ethereum platform. The goal of the ICO is to raise $31,800,000 with a minimum capital threshold of $4,800,000. The ICO is to be conducted using the Ethereum smart contract with the benchmark recorded on at the pre-ICO with respect to ETH/USD rate. The ICO is to last for two months or once the tokens are all sold, whichever comes first.
Conclusion
For more information on the Casper API and how to take part in their token sales, pay a visit the Website and join the Telegram group.