What is Cartesi and why is it skyrocketing?

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What is Cartesi and why is it skyrocketing?

 What is Cartesi and why is it skyrocketing?
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Summary

  • Cartesi’s design aims to push smart contracts to a new level by solving the issue of scalability as well as high fees by implementing a variant of optimistic roll-ups.
  • The token was launched in 2018 by a team of solid researchers and engineers whose aim was to create a novelty in the blockchain space.
  • The price of Cartesi (CTSI) as of 10 August 2021 is US$0.83 and has shot up approximately 75% in the past 24 hours.

While many cryptocurrency traders were paying attention to news out of Washington today, a new crypto was making a mark.

The Cartesi Token shot up 103% yesterday before correcting, and although previously unknown to many, it is suddenly demanding attention.

                         

What is Cartesi and Why is it skyrocketing?

 

Cartesi appeals to developers specifically because it allows developers to code smart contracts using the Linux system, which offers a wide range of mainstream software programs. This means that its offerings make available an exciting new future for decentralized applications (DApps).

What is Cartesi?

Cartesi is a proof-of-stake network whose design aims to push smart contracts to a new level by solving the issue of scalability as well as high fees by implementing a variant of optimistic roll-ups.

What sets Cartesi apart from other blockchain technologies is that it allows developers of smart contracts to use mainstream software components. This is a massive step towards the evolution of blockchain technology.

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Cartesi Development

Cartesi was launched in 2018 by a team of solid researchers and engineers whose aim was to create a novelty in the blockchain space.

The development team comprises PhD researchers as well as professionals with real-world experiences, such as those from the Microsoft research team.

Specifically, the founders are listed as Erick de Moura, Augusto Teixeira, Diego Nehab and Colin Steil.

The Cartesi System

The whole point of making Cartesi’s blockchain work with Linux was to bring more experienced developers into the world of blockchain development.

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Currently, Cartesi offers three different products which are designed to help it fulfill its goals.

These products include Descartes, Descartes Rollups, and Noether.

Descartes allows developers to complete heavy computations using Linux, while its Descartes Rollup feature is meant to be a smart contract improvement of Ethereum’s blockchain platform.

Finally, the Noether program allows DApps to move and store files for lower fee costs temporarily.

The native currency of the Cartesi platform is the CTSI token, and stakers receive CTSI rewards through their participation in the network.

The price of CTSI at the time of writing was US$0.83. The price has shot up approximately 75% in the past 24 hours.

Cartesi has a current market cap of US$317,122,584 and a circulating supply of 391,268,915 coins with a max supply of 1,391,268,915 coins.

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