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Definition of "Casper"

Casper is a security-deposit based economic consensus protocol. This means that nodes act as "bonded validators," to place a security deposit (an action called "bonding") in order to confirm blocks and participate in consensus. If a validator produces anything that Casper considers invalid, the deposit is forfeited along with the privilege of participating in the consensus process. Casper was named after "Casper, the friendly ghost," in a nod to GHOST, another consensus protocol.

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