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cryptocoinguides · 3 years ago

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Is This The #1 Ethereum Solution ?

While Ethereum struggles to find a layer 2 solution with the delay of Optimism’s rollups and Ethereum 2.0 nowhere near the horizon, one project is live with its own layer 2 solution using optimistic rollups with interactive dispute resolution that’s continuing to solidify itself as a top competitor. One that not only helps the scalability of Ethereum but other blockchains as well. But it’s not just about scalability as you’ll learn.

It’s about mass adoption and ease of use for developers. Find out what it is and let’s find out if I’m optimistic on it. Let’s get it! BitSwap is the hottest new way to trade tokens. Crawling all the top decentralized exchanges, BitSwap will get you the very best price and value for your trades. BitSwap is changing the game.

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If you like money and crypto, make sure to hit that subscribe button for your chance to win a full Bitcoin. Details down below. Today, we are going to talk about one of our favorite partner projects, Cartesi. It isn’t just a second layer scaling solution, it provides massive computational scalability and allows developers for the first time to code smart contracts with any language on mainstream software components running on a Linux OS.

Compared to other optimistic rollups like Optimism, Cartesi can provide much better computation scalability, effectively allowing for tens of thousands of heavier computational tasks, because of the interactive dispute that’s missing on solutions like Optimism.

ZK-Rollup’s team are working hard to be able to provide generic programmable environment for developers. Even when all research complexities are finally solved and implemented, ZK-Rollups will struggle with heavy computational tasks as they become a victim of off-chain computational scalability problems where Cartesi or other interactive dispute resolution solutions will exceed. Other scalability solutions like Plasma, sidechains and state channels by themselves would succumb to serious compromises in terms of both programmability and security of smart contracts.

Cartesi can provide much higher computation scalability. It effectively allows smart contracts to leverage computations that are thousands of times heavier than one supported on-chain. As Charles Hoskinson of IOHK often points out, there are only a few thousand smart contract developers in the world currently due to having to learn Solidity, which is an unfriendly coding language, fewer developing applications for blockchains because they need to learn new skills and new blockchain languages like Solidity that they just don’t yet understand.

Cartesi closes the gap with its Descartes machine. Cartesi will enable mainstream developers to use the software, tools, languages and components they’re already used to to create smart contracts in a way that will be similar to building traditional desktop or web applications for coders. This will open the doors of adoption for millions of developers in the world to start creating decentralized applications. Not only that, even those already familiar with Blockchain application development will be able to create systems that would be very hard or impossible to do without the computation scalability and the real operating system that Cartesi brings to blockchains.

Cartesi is a key piece in the puzzle creating a decentralized future. And don’t underestimate that statement. One that’s going to bridge the power of 50 years of the traditional software infrastructure with the existing blockchains and DLTs like Ethereum, Avalanche, and a blast from the past, IOTA.

With the missing puzzle piece in place, they intend to promote a massive explosion of decentralized systems built on its blockchain and using Descartes. Speaking of Descartes, Cartesi recently released its 1.1 of its Descartes SDK for developers. Without getting into the technical jargon, the SDK provides developers with important new features and technology updates according to Cartesi’s Medium.

Even if Cartesi’s scalability solution seems superior, it’s important to note that Cartesi isn’t in competition with other scalability solutions as much as you might think. In fact, Cartesi and Polygon, formerly Matic, recently partnered to build a decentralized poker app built by Cartesi and running on Polygon.

The poker app is to demonstrate and showcase how Cartesi and Matic can be combined for things that simply were not possible before. Cartesi also announced some interesting partnerships, partnering with IOTA, Travala, and integration with Binance Smart Chain and Injective Protocol. Cartesi is integrating with Injective Protocol to push mainstream developer adoption of the Injective Chain.

Cartesi and Injective will also begin a research collaboration exploring how to integrate Cartesi’s tools into the Injective ecosystem. The goal here is to allow developers to utilize existing programming tools from Linux, unlocking tremendous smart contract capabilities offered by the highly interoperable and flexible Injective Chain.

All enabled by Cartesi.

The main objective of this initiative is to enhance the programmability on the Injective Chain, giving Injective’s developers more opportunities than ever to launch new applications on top of their chain thanks to Cartesi. This can include new front end interfaces as well as new trading mechanisms for derivatives such as an AMM according to the announcement.

Cartesi has additionally now integrated with the Binance Smart Chain. Binance has also enabled deposits and withdrawals for CTSI on Binance.com as a wrapped BEP-20 token on the Binance Smart Chain. CTSI is further enabled on the Binance Bridge, which will introduce a safe, fast and secure way to bring cross-chain assets to the Binance chains in the future. If that’s not enough, Cartesi has further partnered with IOTA as discussed above.

In regards to the IOTA partnership, Cartesi states the two companies will support the research and development of new distributed ledger technologies including the IOTA Tangle, with both organizations and communities working together to expand the user base of popular decentralized finance use cases, such as automated market makers, gaming, non-fungible tokens and oracles, while seemingly strengthening IOTA’s ability to offer decentralized technologies to corporations with their technology stacks.

Cartesi’s Linux-based virtual machine, IOTA Oracles and IOTA Smart Contracts, the two groups will bring non-blockchain-based use cases and businesses into the world of decentralized finance, gaming, NFTs and industrial IoT. All that being said, Cartesi’s objective is not only about improving the scalability of smart contracts.

Cartesi provides a Linux operating system for the development of smart contracts. Running an operating system is only possible because of the huge computational scalability it allows for and the VM tech the team has developed. That is what makes Cartesi a very unique project compared to other scalability solutions and why BitBoy Crypto research team and myself feel that Cartesi will be one of the biggest winners in the scalability race and potentially one of the largest winners in this bull run. That’s exactly why we partnered with them.

I’ve said it once and I don’t want to sound like a broken record, Cartesi is the future for smart contracts and blockchain. I implore you guys to explore what these guys at Cartesi are doing. Make sure to do your own research to decide for yourself. No one else out there is involved and doing what Cartesi is. As such, we believe Cartesi is a gem kind of like finding a needle in a haystack. We’re starting to see huge partnerships made by Cartesi.

And this is only just the beginning. Cartesi recently expanded its team onboarding several new engineers to develop and scale with solution. Cartesi is also continuing to hire talented blockchain Solidity developers and backend engineers to work on its products. You can pick up a bag of Cartesi looking for the token ticker symbol CTSI on Binance, WazirX, Bilaxy, 1inch, Uniswap and Gate.

io.

But let me know what you think about this project. Are you still bullish on CTSI? Make sure to drop your comments down below so we know. Also, smash the like button if you enjoy these project-focused videos. That’s all I got. Be blessed. BitBoy out..

Read More: Best Crypto Gem in History Cartesi Hands Down

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bowsetter · 6 years ago

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Indian Supreme Court Gives Government Two Weeks to Submit Cryptocurrency Report

India’s supreme court has brought up the case against the cryptocurrency banking ban by the Reserve Bank of India after one-and-a-half months of delay. The court has reportedly asked the government to submit a report of the findings from the committee it had set up to understand the crypto space and recommend regulatory measures.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Supreme Court Hearing

The Supreme Court of India originally planned to hear the petitions against the cryptocurrency banking ban imposed by the country’s central bank, the Reserve Bank of India (RBI), on Sept. 11. After repeatedly postponing the case, the court finally brought it up on Thursday, Oct. 25.

“The matter came up for hearing today briefly. So some progress in the case finally,” Nischal Shetty, the CEO of Indian crypto exchange Wazirx, told news.Bitcoin.com. He described:

Supreme court has asked govt. to file an affidavit related to the findings of the crypto committee set up by them. They’re supposed to submit this within 2 weeks.

He elaborated, “The government of India had set up a crypto committee previously to understand this space. The supreme court has asked the government to submit the committee report.”

“We don’t know what the committee report contains as of now,” Shetty continued, adding that either the government will submit the report in court for all to see or they will “just inform the court about what they will be doing for crypto in India.”

“So regardless, what we can expect is much more clarity about crypto from a government point of view. That’s a good step forward,” he concluded.

The head of the committee, Subhash Chandra Garg, had previously said that the crypto guidelines would be ready in September. However, subsequent reports suggest that they will not be finalized before the year’s end.

Crypto India Marches On

The RBI issued its infamous circular on April 16, banning financial institutions under its control from providing services to crypto businesses. Soon after the circular was issued, a number of industry participants filed petitions against the ban, which went into effect in July. Banks subsequently closed the accounts of crypto exchanges.

A number of local exchanges have come up with their own solutions to bypass the banking ban including exchange-escrowed peer-to-peer (P2P) services. Several of them claim they are seeing rapid growth in trading volumes on their P2P platforms.

Last week, a major crypto exchange in the country, Unocoin, launched its INR deposit and withdrawal kiosk. However, police soon seized the machine and arrested two founders of the company, including the CEO.

Meanwhile, Zebpay halted its exchange activities in India due to the banking problem on Sept. 28 and proceeded to set up operations in Malta. On Oct. 18, Silvio Schembri, Malta’s Junior Minister for Financial Services, Digital Economy and Innovation, tweeted in response to the news of Zebpay moving to his country. “Welcome to #Malta. I look forward for the 1st of November for the Maltese regulators to start accepting applications for licensing.”

What do you think of the Indian supreme court asking for the government’s crypto findings? Do you think RBI’s banking ban will be lifted soon? Let us know in the comments section below.

Images courtesy of Shutterstock.

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