The Economics of Ethereum's Coming Consensus Change Are Taking Shape

That's how much cryptocurrency users will need to participate in testing ethereum's upcoming consensus protocol, Casper, at least according to the blockchain's creator Vitalik Buterin.

During the final day of an ethereum conference in Toronto last week, Buterin took the stage to discuss his version of the software designed to change the way those running the software reach agreement.

Buterin spent his time on stage outlining the protocol and how the change will alter participation in the network.

Whereas today users must buy specialized hardware, Buterin explained that participating in Casper will first require submitting a minimum of 1,500 ETH into a smart contract.

While 1,500 ETH might seem like a large sum of money, Buterin emphasized that nodes with less ether can participate in a pool, or a group of nodes that work together and split the profits.

"[Casper] will hopefully be one of the more joyous experiences in ethereum in a fairly short time," Buterin said.

Elsewhere in his speech, Buterin gave a breakdown of the various steps involved in setting up a Casper validator, or a node that will participate in the ethereum proof-of-stake protocol.

For developers, Buterin explained, the Casper FFG code offers a lot of customization freedom.

For non-developers, the process of configuring Casper code may seem complicated, but Buterin said that for most users, the setup phase will be as simple as clicking a button.

This would jeopardize a significant amount of money, which to Buterin and many ethereum developers will deter bad behavior.