Significant price surges are amusing. Everyone wants to hop on and have a ride to the moon: some people are driven by FOMO, some HODL for the blind faith, the others believe in DYOR. In the “Rolling Stocks” series we overview the hottest outbreaks and find out the reasons for such successes.
This time we’ll dive into Cartesi and explore its basics, key features, recent updates and future plans with Colin Steil, Co-Founder & COO of the project!
The Basics You Should Know About Cartesi (CTSI)
Cartesi (CTSI) is a project developing an operating system for decentralized applications. The project allows you to perform complex and intensive computations in the Linux environment, outside the blockchain, without compromising decentralization. Cartesi aims to make DApps significantly more powerful, easier to develop, and portable, and to provide massive scalability and convenience for developers and users of decentralized applications.
The People Behind The Project
Cartesi was established in 2018 by Erick de Moura, Augusto Teixeira, Diego Nehab, and Colin Steil. The founding team initially got into the blockchain, because Augusto Teixeira was a friend of the founder of IOTA Serguei Popov – the latter became one of Cartesi’s advisors and earliest investors. Initially, Teixeira had the idea of creating a trustless AI marketplace for data scientists, but eventually the team changed its focus, and the project evolved into developing a Layer-2 platform supporting a Linux runtime environment.
The Problems Solved By Cartesi
Development restrictions on blockchain platforms can frustrate both developers and users by alienating them. Cartesi allows developers to create well-established programs with which they are familiar and run them in a Linux environment. The project aims to bridge the gap between the centralized and decentralized world of application development.
The Features That Make Cartesi Special
- Scalability: intensive computations on huge amounts of data are performed off the network with the same security guarantees offered by the blockchain;
- Programmability: dApp logic runs under Linux and is coded with a choice of thousands of open-source software components available for Linux;
- Ease of implementation: developers can work in a familiar environment without artificial restrictions and with access to all their favorite tools;
- Decentralization: consensus is securely achieved along the chain without the need for a reputation protocol, trusted runtime, or servers controlled by one party;
- Portability: Cartesi aims to make DApps portable to the most important public blockchains supporting smart contracts;
- Privacy: dApp modes can be kept private to the participants in the application.
Cartesi’s Scope Of Use
Cartesi is committed to bringing massive scalability and power to decentralized applications across a network of nodes. The CTSI cryptocurrency token was designed to enable Cartesi Node operators to interact with the system in an honest and efficient manner. It includes the following use cases:
- Cartesi Core: Cartesi Core relies on an arbitration mechanism that uses CTSI as collateral to ensure fair conduct;
- Cartesi Side Chain: Cartesi side chain users pay for temporary data storage for Cartesi:
- DApps with CTSI: block generators are rewarded for CTSI blocks and commissions paid by users adding data to the sidechain;
- Consensus system: CTSI is used to participate in the consensus system;
- Proof-of-Stake side chain: miners with the highest stakes are more likely to be selected to generate the next block;
- Data Availability Protocol: CTSI will also support the Data Accessibility Protocol to aid in the transfer of data blobs used for screenshots.
Cartesi applications will be able to perform complex and intensive computations with large amounts of data, possibly from multiple sources. This will free DeFi from the current limitations of blockchain scalability and help interoperability between blockchains and services such as the futures and insurance markets.
Cartesi will open up huge new possibilities for blockchain gaming. Developers will be able to use traditional tools and libraries that can be compiled for Linux. In addition, game state processing will be free of computational constraints and high blockchain fees without having to sacrifice decentralization.
Decentralized marketplace for AI and compute tasks. With the power of Cartesi's decentralized automated validation, developers will be able to create services that allow new DApps to outsource work and distribute work. This opens up new opportunities for cheaper AI by outsourcing experts and bots.
The future of automation
With Cartesi's decentralized checkout, apps will be able to transfer and distribute work being checked. This opens up new opportunities for insecure marketplaces and autonomous systems involving humans and machines, promoting loT, data science and AI through new business models.
Logistics and optimization
With Cartesi, professionals in fields such as logistics and transport will be able to offer their services and be hired by businesses internationally without the need for intermediaries.
Outsourced computing could enable millions of users to lend their idle computing power. It can benefit scientific research, 3D rendering, video transcoding, and many other resource-intensive tasks that are truly verifiable.
The Steps That Brought CTSI To Life
During closed sales from August 2017 to December 2019, Cartesi raised $800’000. New tokens will be circulating over the next three years, until April 2024.
Cartesi IEO has been running since April 22 until April 23, 2020. The token was released on April 22 on the Binance Launchpad. Cartesi's token price was 370% up within 6 hours of being listed on the Binance exchange.
In total, over 120 thousand tickets were declared for the lottery. The number of winners was 7’500, each of them allowed to receive an allocation of $200. In total, the project raised $1,5 million. CTSI 100 million were put up for sale, with a total coin issue of 1 billion.
The Latest Cartesi News
On February 10, 2021, Cartesi announced a partnership with Elrond Sharding Project (EGLD) to integrate Optimistic Rollups to achieve high computational scalability and enable smart contracts to run under Linux.
Cartesi has partnered with Elrond (EGLD) on Optimistic Rollups integration to provide high computational scalability and enable Linux runtime for smart contracts.
Elrond is one of the fastest growing blockchain projects in the industry, offering a scalable, fast and secure blockchain platform for distributed applications, enterprise use cases and the new internet economy.
According to the developers, the Cartesi Rollups powered by Elrond will preserve the security guarantees of the blockchain, creating enhanced capabilities for the next generation of more complex decentralized applications.
On March 24, 2021, Cartesi partnered with IOTA to strengthen DeFi and NFT use cases.
On April 6, 2021, Cartesi was integrated with Polygon’s Matic PoS Chain enabling Cross-Chain Interoperability with DeFi and DApps.
The Long Road To The Top
In order to learn more about future plans, we’ve reached out to Colin Steil, Co-Founder & COO of Cartesi.
What are your expectations from Elrond, IOTA, and Polygon cooperations?
For sure, these partnerships are significant and we are extremely excited about them. We are making sure Cartesi works on top of the most important blockchains, leveraging collaborations like the ones with Elrond, Avalanche, Polygon, and IOTA.
Cartesi is a layer-2 solution and will need to be ubiquitous. Developers will develop (for Linux) on Cartesi over the most important blockchains. Blockchains see the importance of the unparalleled power and convenience Cartesi will give to smart contracts and developers and want to integrate our tech. There will be a lot of synergies, where Cartesi and these projects will help each other to bring blockchain development to a much bigger audience of software developers.
These collaborations will cross-pollinate development communities, helping us to make sure Cartesi’s tech evolves in a very useful way over most of the blockchain/DLT ecosystem.
We have already advanced significantly with some of these partnerships (for example, Descartes v1.1 has already been ported to Polygon and Avalanche, and we have been doing multiple collaborations with Polygon, with our upcoming fully decentralized poker DApp tech showcase).
Are there any more tech updates and partnerships on the roadmap?
Lots! I encourage everyone to read our roadmap for 2021 here.
We are currently talking to other chains, oracle platforms, DeFi projects, and more. Adoption is key and we are constantly receiving feedback and hearing the needs of developers and projects are also enriching and needed. This is a new moment for Cartesi, in which our tech will grow a lot from received feedback and collaboration.
Additionally, we are designing a new grant program. We are partnering with academic institutions, discussing with accelerators, and working to onboard partnering projects to create subsidies to help our ecosystem to grow.
Also, expect a few surprises in terms of demos, collaborations, and new research papers we will release soon.
What is the decentralized Texas Hold'em game you’re working on? Do you plan to become the main platform for blockchain casinos?
The Cartesi/Polygon Poker game is a showcase of what we can achieve when we join the low fees and fast transactions of Polygon with the computational power of Cartesi (that is essential for the cryptography that protects the users' cards during the match). The logic of our Poker game has been developed fully in Linux, using mature C++ cryptography libraries. More info here.
We want to use this to showcase for all the non-blockchain developers out there (the tens of millions of them) that it is now possible to code decentralized applications with the tools they are accustomed with. Not having to worry about the crazy limitations of Ethereum’s fees or Solidity’s idiosyncrasies.
We do not create casinos or gambling products, however, we want to showcase how powerful both Cartesi and Polygon can be to the nascent blockchain game industry with tech showcases. We are really excited about what we can create with our technologies and how developers or organizations will be able to re-use the tech on other turn-based games. Software developers, for the first time, will be able to build such decentralized games with mainstream software components supported by Linux. You can read more about games on Cartesi here.
Cartesi (CTSI) Price Range
Cartesi price today is $0.63. Сartesi all time high is $0.85 (4 Apr 2021).
The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.