Cartesi

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Cartesi?

Cartesi (CTSI) is a Layer 2 scaling solution that integrates the power of decentralized applications (dApps) with the Linux operating system, enabling complex computations off-chain and fostering a dynamic ecosystem for smart contract development across multiple blockchains.

How is Cartesi used?

Cartesi (CTSI) is a utility token that powers the Cartesi network. It has several key uses:

  1. Staking and Fees: CTSI is used for staking and paying fees for processing data on the network. Users can stake their CTSI tokens to participate in the network and receive rewards in return.

  2. Transaction Processing: CTSI acts as a medium of exchange, facilitating seamless transactions. It is used to pay fees for storing data on the sidechain and for verifying blocks.

  3. Network Security: The staking process helps secure the network, ensuring active involvement and transparency. Users can unstake tokens at any time, and rewards are gained from validating blocks with automatic compounding.

  1. Descartes SDK Rollups: CTSI is used by decentralized applications (dApps) to outsource the verification and enforcement of computations to entities running Descartes nodes.

  2. Noether High-Performance Sidechain: CTSI is used as crypto-fuel for the Noether sidechain, which is a Proof of Stake system. Stakers receive rewards in CTSI, and network users pay fees in CTSI to add data to the sidechain.

Overall, CTSI plays a crucial role in maintaining the efficiency, security, and scalability of the Cartesi network.

How do I store Cartesi?

To store Cartesi (CTSI) tokens, you can use a variety of third-party wallets that support ERC-20 tokens. Here are some options:

  1. Metamask: This is a popular browser extension that supports CTSI tokens. You can use it to connect to the Cartesi Staking Portal and manage your tokens.

  2. Ledger Live: This software wallet is compatible with Ledger hardware wallets and can store CTSI tokens. You can send CTSI directly from an exchange to your Ledger wallet.

  3. Other Software Wallets: There are several other software wallets that support CTSI tokens, such as WalletConnect and Coinbase Wallet. These wallets can be used to store and manage your CTSI tokens.

  1. Hardware Wallets: Ledger and other hardware wallets can also be used to store CTSI tokens securely. These wallets provide an additional layer of protection against unauthorized access.

  2. Cartesi Explorer: While not a dedicated wallet, the Cartesi Explorer can be used to manage your CTSI tokens and set up staking pools.

It is essential to choose a reliable and secure wallet to ensure the safety of your CTSI tokens.

How to buy Cartesi?

To buy Cartesi (CTSI) tokens, you can follow these steps:

  1. Choose an Exchange: Select a reputable cryptocurrency exchange that supports Cartesi trading. Popular options include Binance, Coinbase, Kraken, KuCoin, and Bit2Me.

  2. Create an Account: Register for an account on the chosen exchange's official website or mobile app. This typically involves providing identification documents and enabling two-step verification for security.

  3. Fund Your Account: Deposit funds into your exchange account using a payment method accepted by the exchange. This can include fiat currencies like USD or EUR, or other cryptocurrencies like USDT, BTC, or ETH.

  1. Buy Cartesi: Use the deposited funds to purchase Cartesi (CTSI) tokens. On centralized exchanges like Binance or Coinbase, you may need to first buy a supported cryptocurrency like USDT or BTC and then swap it for CTSI. On decentralized exchanges like Uniswap or Pancakeswap, you will need to purchase the native cryptocurrency of the blockchain the DEX is built on (e.g., ETH for Uniswap or BNB for Pancakeswap) and then swap it for CTSI.

  2. Store Your CTSI: Once you have purchased CTSI, it will be stored in your exchange wallet. You can also transfer it to a personal wallet for added security.

  3. Manage Your CTSI: You can use your CTSI tokens for various purposes, such as staking, participating in liquidity pools, or exchanging for other cryptocurrencies.

Remember to stay informed about market trends and do your research before making investment decisions.

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History of Cartesi

Cartesi (CTSI) was founded by Augusto Teixeira, Colin Steil, Diego Nehab, Erick de Moura, and Marco Mirabella. The project entered the market in 2018 and is based out of Singapore. Initially, Cartesi was designed as a decentralized digital marketplace but eventually evolved into a Layer 2 solution focused on improving the scalability and speed of blockchains.

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How Cartesi works

Cartesi (CTSI) is a Layer 2 blockchain solution designed to enhance the scalability and speed of blockchain networks. It achieves this by utilizing both on-chain and off-chain components. Here's a detailed overview of how Cartesi works:

Hybrid On-Chain/Off-Chain Approach

Cartesi's architecture consists of three main components: Cartesi Nodes, Cartesi Machines, and the Cartesi Network. The platform operates on the blockchain but performs most computational tasks off-chain to maintain efficiency and speed. This hybrid approach allows for massive scalability without compromising decentralization.

Cartesi Machines

Cartesi Machines are virtual machines that run a Linux operating system. They are similar to virtualization solutions like VirtualBox or VMWare. Inside a Cartesi Machine, there is an operating system, hard drives, programs, and data. These machines are fully reproducible, which is crucial for consensus and dispute resolution. Developers can code their dApps using traditional programming languages and tools, making it easier to build and deploy decentralized applications.

Computational Scalability

Cartesi Machines can perform complex computations, such as checking game results, verifying puzzle solutions, or running complex queries on large databases. These computations are done off-chain, which significantly improves the scalability of the network. Theoretically, Cartesi can achieve million-fold computational scalability, making it suitable for demanding applications.

Proof of Stake Consensus

Cartesi uses a Proof of Stake (PoS) consensus protocol. Participants stake their CTSI tokens to secure the network and validate blocks. This method randomly selects nodes to validate and create blocks, ensuring the integrity of the network.

CTSI Token

CTSI is the native utility token of the Cartesi network. It is used for staking, paying transaction fees, and securing the network. Users can purchase CTSI directly with fiat currency and trade it on various exchanges.

Developer-Friendly Environment

Cartesi offers a mainstream programmability environment, allowing developers to code smart contracts and dApps using familiar tools and languages. This makes it easier for developers to build and deploy decentralized applications, which can run on multiple blockchains.

Applications and Potential

Cartesi has a wide range of potential applications, including blockchain optimization, decentralized finance (DeFi), software development, and gaming. It has already released products like Descartes and Noether, which cater to the developer community. Additionally, Cartesi is developing a fully decentralized poker game on the Polygon network.

In summary, Cartesi (CTSI) is a Layer 2 blockchain solution that leverages a hybrid on-chain/off-chain approach to enhance scalability and speed. It provides a developer-friendly environment, supports massive computational scalability, and uses a Proof of Stake consensus protocol.

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Cartesi's strengths

Cartesi (CTSI) has several strengths that make it an attractive solution for decentralized application (dApp) development:

  1. Scalability: Cartesi offers a significant improvement in scalability compared to traditional blockchain solutions. It can handle massive computational tasks off-chain via its Linux virtual machine (LVM), making it capable of executing computations millions of times more intensive than on-chain solutions.

  2. Programmability: Cartesi allows developers to build dApps using mainstream software stacks such as Linux, which provides access to thousands of open-source software components. This makes it easier for developers to create complex applications without the limitations of blockchain-specific programming languages.

  3. Ease of Adoption: The platform provides a familiar environment for developers, allowing them to work without artificial restrictions and with access to all necessary tools and resources. This makes it easier for developers to adopt and integrate Cartesi into their projects.

  1. Portability: Cartesi aims to make dApps portable across multiple public blockchains that support smart contracts, increasing their versatility and potential reach.

  2. Cost-Effectiveness: By executing computations off-chain, Cartesi reduces the high costs associated with on-chain transactions, making it a more cost-effective solution for dApp development.

  3. Security: Cartesi uses a Proof-of-Stake (PoS) consensus mechanism, which is more energy-efficient and less vulnerable to centralization compared to traditional Proof-of-Work (PoW) mechanisms.

  1. Utility Token: The CTSI token plays a crucial role in the Cartesi ecosystem, allowing users to stake tokens and receive rewards, and also being used to pay fees and incentivize nodes for verifiable and enforceable communication.

These strengths position Cartesi as a promising solution for overcoming the scalability and programmability limitations of traditional blockchain technology, making it an attractive option for developers and users alike.

Cartesi's risks

Cartesi (CTSI) is associated with several risks that investors should be aware of. These risks include:

  1. Volatility Risk: The price of CTSI can fluctuate significantly, leading to potential losses for investors.

  2. Liquidity Risk: The liquidity of CTSI may be low, making it difficult to buy or sell the token quickly and at a favorable price.

  3. Short History Risk: Cartesi has a relatively short history, which can make it difficult to assess its long-term viability and potential for growth.

  1. Demand Risk: The demand for CTSI may be low, which can negatively impact its price and adoption.

  2. Forking Risk: Cartesi, like other blockchain projects, is susceptible to forking, which can lead to the creation of new tokens and potentially dilute the value of CTSI.

  3. Code Defects: Cartesi's code may contain defects or vulnerabilities that can be exploited, leading to security breaches and potential losses for investors.

  1. Regulatory Risk: Changes in regulatory environments can negatively impact the use, transfer, exchange, or value of CTSI.

  2. Electronic Trading Risk: Trading CTSI electronically carries risks such as technical issues, connectivity problems, and cybersecurity threats.

  3. Cybersecurity Risk: Cartesi's systems and networks are vulnerable to cyber attacks, which can compromise the security of the token and its users.

  1. Competition Risk: The Layer-2 space, where Cartesi operates, is highly competitive, and the success of CTSI depends on Cartesi's rate of adoption by projects and developers.

  2. Market Risk: CTSI's price is influenced by overall market movements and cannot be diversified away.

  3. Unsystematic Risk: Events specific to the Cartesi project can negatively impact the price of CTSI, and this risk cannot be eliminated by diversification.

These risks highlight the importance of thorough research and risk assessment before investing in Cartesi (CTSI).

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Cartesi’s team

  • Erick de Moura: CEO and co-founder, previously worked as a software developer at Arizona Bay and as an engineer at WebRadar.
  • Augusto Teixeira: Chief Scientific Officer (CSO), previously worked as a postdoctoral researcher at Ecole normale supérieure and is an Associate Professor at IMPA, specializing in probability and graph theory.
  • Diego Nehab: CTO and co-founder, Associate Professor of computer graphics, image processing, and massive parallelism at IMPA university in Brazil.
  • Colin Steil: COO and co-founder, previously worked as a program ambassador at Anchor Taiwan, Global Partnership manager at Chinaaccelerator and Mobile Only Accelerator, and co-founded the Canada China Youth Foundation.

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