Synereo, Ethereum Collaborating to Formalize Proof-of-Stake Protocol “Casper”

Ethereum and Synereo have discovered some synergies and are collaborating on the development of Ethereum’s Proof-of-Stake (PoS) protocol, Casper.

Early in July, Synereo’s CSO Greg Meredith revealed that the blockchain-based social media network had received a development grant from the Ethereum project

Ethereum and Synereo are working on a formalization of Ethereum’s PoS mechanism, Casper. They are using π-calculus, a naming based model of concurrent computation, to take advantage of Synereo’s platform and get a reference implementation.

Meredith articulated more this week:

We’re using Synereo tech to help Ethereum flesh out their new Proof-of-Stake mechanism. Using our distributed protocol machine, we can create an implementation of the Ethereum protocol that we then run distributedly to probe and prod for possible issues. We can check what happens under load, when the network partitions, and effectively prove the protocol correct.

Synereo’s backend is built on a distributed protocol machine, which they use to define protocols, verify and run them. This apparently is ideal for Ethereum’s Casper protocol.

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Meredith believes that Synereo and many more will derive benefit from the collaboration:

We figure this ought to really help understand Casper. Understanding of this kind for a protocol potentially this sensitive is vital. Blockchain technology is exciting. The potential is enormous, and no one wants this technology to succeed more than the Synereo team. We also have to be realistic: there’s a huge risk in putting global scale financial dependencies on these new technologies. That’s why we want to help Ethereum.