The Altcoin Seasonal Blitz is upon us, and it looks like a new asset is being added to Coinbase or Gemini every two days. We’ve seen joke cryptos like Dogecoin added to the ranks in recent days, as well as other less memorable names like Tellor, Mirror, and iExec RLC. And no, my cat didn’t just walk across the keyboard, it’s really called iExec RLC.
Among the more recent additions to Coinbase was Cartesi, which is not a type of pasta but a cryptocurrency, which seeks to lower fees and improve blockchain scalability using pre-existing programming languages.
What is Cartesi (CTSI)?
CTSI is the token feeding the Cartesi network. Like many new digital protocols entering the crypto space, Cartesi wants to reduce friction by reducing fees and increasing the scalability of projects on the blockchain.
But here’s where Cartesi differs from its peers: Developers can use an already familiar programming language to build their applications for the blockchain.
Despite all the progress made in this space, blockchain remains limited by transactional constraints. Chain processing is inefficient and expensive, negating the real impacts that blockchain technology can have.
Cartesi uses Linux to verify information off-chain and reduce the time and processing power required to build a new block. By removing these processes from the chain, energy is saved and costs are reduced. In the event of a dispute, Cartesi will turn to the blockchain for validation. According to its founders, blockchain is the âSupreme Courtâ of the Cartesi protocol.
Brief History of Cartesi (CTSI)
Cartesi was developed and released in 2018 with its first real application appearing in 2019. Creepts, a game where players have to defend a tower, is the initial project to use the Cartesi network.
Cartesi was developed as a Layer 2 project that uses what are known as upbeat rollups to reduce friction. Optimistic rollups are built on existing blockchain technology to limit the processing power needed on the blockchain. Cartesi has a special variant of an optimistic rollup called Descartes Rollup which processes data off-chain using Linux.
By replacing the Ethereum Virtual Machine (EVM) with its own Linux-based system, Cartesi can aggregate data into the blockchain as a ZIP file – a condensed version that is easier to send but contains all the data needed to implement a project or verify a project. transaction .
Cartesi is supported not only by the Ethereum blockchain, but also by the Binance Smart Chain, Avalanche, Polygon, Elrond and Injective protocol. The CTSI token is an ERC-20 token awarded to those who wager coins or participate in the network. CTSI’s maximum supply is 1 billion tokens.
Additionally, CTSI is awarded to those who verify and feed Noether – the Cartesi âside chainâ for temporary data storage.
How to buy Cartesi (CTSI)
- Open an account online.
To purchase Cartesi tokens, you will need to create an account with a cryptocurrency exchange. Cartesi is a relatively small digital asset with a market cap of less than $ 400,000,000, so it is not widely available across the spectrum of exchanges.
It is carried by Coinbase, but you can also find it at Changelly and Binance. Coinbase has the easiest onboarding process. Start with an exchange using the links below!
- Buy a wallet (optional).
For an added layer of security, consider a digital wallet for your crypto assets. Digital wallets can store not only cryptocurrencies, but also non-fungible tokens (NFTs) purchased from a marketplace like OpenSea or NiftyGateway. Except the Top Shot moments. The NBA does not give up control of these.
You will come across 2 different types: hot wallets and cold wallets. Think of hot wallets as connected wallets and cold wallets as disconnected. An active wallet is an app like Coinbase Wallet or Trust Wallet that is downloaded and used on a smartphone, tablet, or computer. Hot wallets are connected to devices accessible on the Internet at all times, so they are not impervious to predators.
Cold wallets are hard drives for digital assets that can be physically disconnected from electronics and removed from WiFi. Cold wallets can be used as literal vaults for your cryptocurrency and NFTs – a secure physical object that requires a password to open. Find a list of the best wallets below.
- Make your purchase.
Make your decision on wallets before making your Cartesi purchase as you do not want to make multiple transactions when transferring assets from the stock exchange to the digital wallet. The costs are high, so it is essential to avoid unnecessary movements. Decide how much of your capital to spend on CTSI, then make your purchase.
When buying traditional assets, a good rule of thumb is the 1% rule, which states that no asset should represent more than 1% of your trading portfolio. Cryptocurrency is a little different because the volatility is high and there are fewer assets available for purchase, but you still don’t want to load too heavily on a single altcoin.
Best crypto exchanges for Cartesi
Best crypto wallets for Cartesi
Best Hardware Wallet: Trezor Model T
One of the most trusted names in digital asset security is Trezor, the hardware maker behind the sleek Trezor One and Trezor Model T cold wallets. The Model T is our favorite because it supports over 1000+. different cryptocurrencies, has a color touchscreen, multiple layers of security, and an easy recovery process. Customer support is top notch and each unit comes with its own microSD card.
Best software wallet: Coinbase wallet
Few digital wallets are easier to use than Coinbase Wallet. Compatible with iOS and Android smartphones, Coinbase Wallet is ideal for storing and transferring digital assets such as cryptocurrencies and NFTs. And since Coinbase is one of the few exchanges to offer Cartesi, you can easily buy and store CTSI tokens.
Exchange, sell or convert your i cards (CTSI)
Buying and selling cryptocurrencies means converting fiat currency, which requires a fee (usually a commission and a spread). You can buy CTSI using funds directly from your bank account on Coinbase, but you will pay a commission based on the amount you buy plus the bid / ask spread. Crypto trading costs a lot more than trading stocks or bonds, so always consider the costs when trading.
Even converting CTSI to another cryptocurrency or moving from one wallet to another will incur a fee. One of the crucial aspects of investing in crypto and digital assets is tracking spreads, commissions, and gas charges. Profits are quickly eaten away by costs, so don’t overuse and keep track of your costs.
Current crypto prices
Digital asset markets are volatile and that doubles for newer coins with a smaller market cap like Cartesi. Here are the current cryptocurrency prices:
Is Cartesi (CTSI) a good investment?
The developers at Cartesi are trying to solve the same problems that all crypto developers do: slow speeds, high fees, and the inability to scale projects on the blockchain. But the angle from which they approach it is unique and potentially profitable.
Building decentralized applications (dApps) on popular programming platforms such as Linux reduces transaction friction and makes the network more accessible to developers with traditional backgrounds.
Getting listed on Coinbase is a big step forward for any digital asset, especially one with a market cap south of $ 500,000. Cartesi is far from a sure thing, and its full potential could be washed away if another protocol creates a faster and more efficient network.
But combining the Linux system with the power of blockchain is an intriguing idea, and the network is still in its infancy. Cartesi is a cryptocurrency to keep on your watch list.
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