Migration from POW to POS for Ethereum

Abstract

Block-chain is rapidly evolving. There are continuous enhancements. In order to validate transactions algorithm is used. The traditional approach of Proof of Work (POW) is where miners are incentivized to compete with each other to complete transactions. Alternate system is proof of stake (POS) where in the validators lock up some of their tokens and thus replace the role of miners. Generation three block chain, which are the latest and fastest ones are mostly Proof of Stake (POS). Hence the POW systems seek to leverage the POS properties in order to attain higher speed and scalability. The paper discusses the approach with Ethereum has taken to migrate from the current POW protocol to POS protocol. The concept of Caster is focused as implementation. Casper further has two subtypes of approaches know as Friendly Finality Gadget (FFG) and Correct by Construction (CBC). The paper discusses on safety guard over these algorithms.