Cartesi (CTSI) is a Layer 2 solution that facilitates the development of decentralized applications (dApps) on multiple blockchains.
Cartesi Review-CTSI Crypto-2023
The adoption of blockchain technology, which started with crypto assets and then continued to enter people’s lives in various fields, is increasing day by day. Of course, the adoption and use of this technology provide convenience for human life. However, on the other hand, blockchain technology is still in its infancy. For this reason, blockchains are struggling to handle the migration of large masses of people at once. This challenge is referred to as scaling.
With the increasing adoption of blockchain technology, certain blockchains face scaling challenges leading to network congestion and high fees.
Different Approach
Combining more widely explored Layer 2 solutions such as rollups and sidechains, Cartesi addresses blockchain scaling in a variety of ways:
- It is blockchain agnostic – Cartesi’s dApp building platform can be used across multiple blockchains like Ethereum and Injective Protocol, among others.
- It is built using a hybrid model – Cartesi incorporates both on-chain and off-chain components to give dApp developers flexibility.
In addition, this project differentiates itself by allowing developers to write smart contracts using the already widely known Python language without the hassle of learning a new language.
CTSI
CTSI is the cryptocurrency of Cartesi. CTSI crypto is a multi-purpose token that powers the Cartesi proof of stake network. One of these purposes is to allow Cartesi node operators to honestly interact with the system and pay transaction fees in the system.
At the time of writing, the CTSI token is trading at $0.25, and the market capitalization of the token is $175,241,430. Finally, the total supply of the CTSI token is 1,000,000,000 (1 billion). Users who wish to buy this project’s token can do so on both centralized and decentralized exchanges.
What is the Future of Cartesi?
The future of Cartesi largely depends on the overall performance of the crypto industry. When it comes to investing in CTSI, you need to make sure you are using the right strategy. This type of investment is not suitable for those with an asymmetric risk profile. However, it is still an excellent investment for those with a high-risk tolerance and a sound financial situation. In addition to its speculative nature, CTSI also offers exposure to global technology and an ever-growing ecosystem.
How Does It Work?
Cartesi brings a different software development workflow model to blockchain technology by running a hybrid system of on-chain and off-chain calculations.
Cartesi Machine and Noether
It relies on several off-chain components to reduce the amount of heavy computation and temporary data stored on the main blockchain. The Cartesi Machine is a Linux-based virtual machine run by Cartesi nodes. This machine is used to execute dApp calculations before publishing the calculation results to the blockchain. Furthermore, running in a Linux environment allows dApps to be written in commonly used programming languages.
Noether is a sidechain that acts as an oracle of data availability. Noether has the ability to temporarily record and store data that is only needed in the short term. Disposing of data that is only needed for short periods of time saves space and ensures long-term efficiency for the blockchain.
The Origin
Cartesi was founded in 2018 by Augusto Teixeira, Erick de Moura, Diego Nehab, and Colin Steil. It was originally conceived as a trusted AI marketplace but evolved into a Layer 2 project aimed at solving blockchain scalability and infrastructure limitations.
The four leaders of the project have experience in both software development and startups. De Moura serves as Cartesi’s CEO.
In April 2020, 100 million CTSI tokens went on sale as part of an initial coin offering (ICO) that raised $1.5 million for the project.
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