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Cartesi appeals to developers in particular because it allows them to build smart contracts using the Linux operating system, which includes a wide range of popular tools. This means that its services open up a whole new world of possibilities for decentralized apps (DApps).
It is important to understand how Cartesi fits into the logical evolution of blockchain technology. For that, let’s go back in the history and talk a little about bitcoin.
Until 2008 there was a very hard problem in computer science and distributed systems. The well-known Byzantine Generals Problem, as described in an academic paper from 1982. It goes like, how can you guarantee that given multiple entities separated by distance can reach full agreements before action is taken. In other words, it is the consensus problem.
In order to create a decentralized cash system like Bitcoin, Satoshi Nakamoto had to solve this hard problem. So, bitcoin is not only the solution for the decentralized money which is massive by the way but also the solution for this very hard problem in computer science. Therefore, Bitcoin is not only the first decentralized money, but it is also the first application for blockchains.
The bigger question then is what else can we do with blockchains? What else can we do with decentralized computing? That was the problem Ethereum set out to solve. How to create a decentralized computer, a worldwide consensus-based computer that would allow to disrupt several sectors.
One example would be the game industry, Imagine MM RPGs with virtual worlds that could exist virtually forever and whose evolution would be taken care by a DAO. These virtual worlds would not have its destiny tied to any gaming company, and they would allow for a real persistent economy that would grow inside it throughout decades.
Another example would be industrial IOT, eliminating all sorts of intermediaries. Peer-to-Peer energy trading, universal electric vehicle charging facilities and self-driving autonomous vehicles that would dispense any intermediate company like Uber.
The problem is with the computational scarcity that we see on Ethereum and other blockchains. It seems that we are very far from these things.
DeFi is built under severe restrictions. Developers have to be almost heroic to work under these computational limits and without a real operating system where they could use mainstream software components. And even when developers are able to pull off these applications, their users must be able to pay the price that grows together with the user base. Now that’s insane.
If an application succeeds and has more users, the price should be lowered for each user, not more. But that’s the reality of applications running under blockchains like Ethereum. This is absolutely not a sustainable model for developers or for users.
We need something new. Because blockchains like Ethereum have to operate under these severe computational limits, it was not conceivable to have VM’s that would support operating systems.
With Cartesi, they are trying to bring a real operating system to the hands of DApps developers. And not only that, they allow developers to have computational resources to build much more powerful applications. In other words, they are trying to bridge the painful gap between the great innovation brought about blockchains and the power of mainstream software development.
When they have these two things together, it’s like an explosion because not only current DApps developers will have much more power to create much more expressive DApps, but also it will open the gates to millions of developers that are out there today and are intimidated to learn blockchain technology.
They will be able to use the languages, tools, libraries and services that they are used to when they go about implementing desktop or web applications on Linux. Unless the bridge between the gaps is filled, blockchain technology will not be able to tap into its full potential and most developers will be left outside.
Bitcoin created blockchains, Ethereum and other blockchains supporting smart contracts created programmability on the top of blockchains. However, this is not scalable and doesn’t provide the tools that developers need.
Cartesi is trying to bring computational scalability and the tools that developers are looking for. So, it is a natural progression and that’s why they are super excited to make it happen.
Cartesi is a proof-of-stake network whose design attempts to take smart contracts to the next level by addressing scalability and high fees through the use of a form of optimistic roll-ups.
Cartesi differs from other blockchain technology because it allows smart contract authors to leverage common software components. This is a significant step forward for blockchain technology.
Cartesi was founded in 2018 by a group of dedicated researchers and engineers with the goal of bringing something new to the blockchain industry. PhD’s researchers as well as professionals with real-world expertise, such as those from the Microsoft research team, make up the development team.
Erick de Moura, Augusto Teixeira, Diego Nehab, and Colin Steil are mentioned as the founders.
The goal of integrating Cartesi’s blockchain with Linux was to attract more experienced developers to blockchain development. Cartesi currently offers three main items to assist it in achieving its objectives.
The CTSI token or crypto is the Cartesi’s own currency, and stakers earn CTSI crypto as a reward for contributing in the network.
Key highlights of Cartesi System
Scalability: Intensive computations on large volumes of data are done off-chain, yet with the same level of security as the blockchain.
Programmability: DApp logic is written in Linux and uses one of the thousands of open-source software components available.
Ease of Adoption: Developers can work in a comfortable environment with no artificial constraints and full access to all of their preferred tools.
Decentralization: There is no need for a reputation protocol, a Trusted Execution Environment, or servers controlled by a single party to reach consensus on-chain.
Portability: DApps will be transferable across the most major public blockchains that allow smart contracts, according to Cartesi.
Privacy: The states of DApps can be kept confidential among app participants.
Cartesi crypto or CTSI crypto is a token that is used in Cartesi platform. CTSI token is traded as a native currency for the platform. Stakers earn CTSI crypto as a reward for participating in the network.
The CTSI crypto/token was formed to inspire Cartesi Node operatives to intermingle with the system in a transparent and effective manner. CTSI token can be used in following scenarios:
Cartesi Core: To enforce honest behavior, the Cartesi Core relies on an arbitration system that employs CTSI as collateral.
Cartesi Side Chain: Cartesi Side Chain users pay CTSI for temporary data storage for Cartesi DApps. CTSI block rewards and fees paid by users uploading data to the Side Chain are distributed to block producers.
Consensus System: CTSI is utilized in the Proof-of-Stake consensus system on the Side Chain. The miners that have the biggest stakes have a better chance of getting chosen to generate the next block.
Data Availability Protocol: CTSI token will also fuel the data availability protocol to help with the transmission of large data blobs used for machine snapshots.
|Cartesi crypto Price
|Fully Diluted Market Cap
Cartesi was originally offered on Binance Launchpad in April 2020 as an Initial Exchange Offering. Its price stayed largely between $0.03 and $0.05 until 2021, except for August, when it rose to $0.1.
Cartesi’s price maxima appear to frequently coincide with CTSI coin unlocks, which occur every 3 months – August 2020 was no exception. The first unlock of 2021 occurred in late January, and the price soared to $0.3 in early February. Cartesi’s price achieved an all-time high of $1.75 on May 9, 2021, after some highs and lows. Since then, the price has been steadily declining, reaching a low of $0.4-$0.5 in early July.
The current price of CTSI as of writing this article is around $0.7546 USD. According to the Digital coin, the Price of CTSI may go up to $2.32 USD by the year 2025 and up to $3.29 USD by the year 2028. Meanwhile, the wallet investor forecast $3.695 USD for CTSI by the year 2026.
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To decide whether any crypto is a good investment depends upon many factors. One factor that I personally consider to be the primary for any crypto investment is its core objective. If the objective of any crypto is superb and unique, then I might consider their future potentials.
Cartesi is trying to bring computational scalability and the tools that developers are looking for, which in my opinion is a very noble objective. They are building a framework where more and more developers can enter and use the platform to work under the blockchain technology.
The objective is huge and whether they will be able to do it or not only the time will tell. So, is it a good investment? I don’t know, but one thing is certain that their objective is very attractive to me and I will certainly keep my attention on CTSI.
Disclaimer: I am not a crypto investment expert; you should do your own due diligence and consult with the actual crypto investment expert before investing. This article should not be taken as an evidence for the crypto investment recommendation, rather mere knowledge on the Cartesi.
Cartesi (CTSI) can be purchased on any supported exchanges. Visit the Cartesi ecosystem page for the most up-to-date list of exchanges and trading pairings for this cryptocurrency.
I would recommend you Binance, simply because it is the largest crypto exchange in the world and accepts fiat deposits (traditional money like US dollar).
The advantages of buying Cartesi (CTSI) in Binance include lower exchange costs than other exchanges, as well as higher liquidity, which allows you to purchase and sell rapidly to take advantage of market-moving news.
You can follow this link to go to Binance and Sign up. Disclaimer: The links in this page for Binance are referral links. That means if you sign up and trade using these links in Binance then I get a small commission at no expense of yours, and you will also receive 5% discount (cashback off all trading fees.). So, it’s good for both of us.
Once you’ve completed the KYC procedure. You’ll be prompted to provide a payment method. You have many options for payment like using a credit/debit card or even a bank transfer. When you use a credit card to make a payment, then it will cost you more because of its high fee structure, but you will be able to make a transaction right away. A bank transfer, on the other hand, is less expensive but takes longer, depending on your nation of residence.
Another exchange that I would like to recommend you is Gate.io. Gate.io is an American cryptocurrency exchange that launched 2017 and is popular worldwide. Gate.io’s key selling point is its large number of trading pairs. The majority of the new cryptocurrencies may be found here. The trade volume on Gate.io is likewise impressive. The trading volume is estimated to be around $1 billion. On a daily basis, USD 100 million is spent. USDT (Tether) is usually one part of the top 10 trading pairs on Gate.io in terms of trading volume. In the conclusion, Gate.io’s large number of trading pairs and exceptional liquidity are two of the exchange’s most outstanding features.
They do, provide a renowned trading platform with an easy-to-use interface for beginners, as well as comprehensive and advanced charts for traders of all skill levels, including technical traders. Cartesi is one of the several cryptocurrencies they have (CTSI).
You can follow this link to Sign up on Gate.io. Again, Disclaimer: The link in this page for Gate.io are referral links. That means if you sign up and trade using these links in Gate.io then I get a small commission at no expense of yours, and you will also receive a 10% discount. So, it’s good for both of us.