Transferring money from and to anyone around the globe is only one of the many building blocks in our today's financial services, we also have loans, savings plans,insurance as well as the stock market,all these services built around money (legal tender), all of this together creates our financial system. In order to be carried out,they require mediation or financial institutions.
r , most of our financial system and all of its services are completely centralized, what this means is that the banks,stock markets,insurance companies and various others always have a person in charge (central authority) who controls or offers these services and whose approval has to be sought before carrying out whatever transaction on the system.
There are many risks involved in this financial system and its services, some of them are mismanagement of funds,corruption, lack of security,high transaction costs, fraud and others. These risks necessitated the introduction of an alternative financial system called DeFi.
DeFi or Decentralized Finance is the new paradigm which has decentralized the financial system in today's society. It entails those monetary services that do not require a central authority, it is carried out with certain cryptocurrencies (decentralized money powered by strong encryption codes) which can easily be programmed for automated lending,borrowing and payment activities.
In order to realize the visions of DeFi, there is a need for a decentralized infrastructure for operating the already mentioned decentralized services,in response to that,the blockchain infrastructure was created,the popular ones among them being Bitcoin and Etherum.
However, operating DeFi requires innovative decentralized applications which can be developed using the right financial tools, softwares, technicality and machines, unfortunately, the current blockchain networks do not possess these qualities until CARTESI.
DESCRIBING CARTESI AND ITS CONTRIBUTIONS TO DECENTRALIZED FINANCE
This is an inventive operating system for decentralized applications, it functions as a bridge between Linux and blockchain which facilitates the creation of decentralized applications that can scale to millions of users.
This network helps developers to run highly complex off chain computations unrestricted by blockchain limitations and costs without sacrificing any of decentralization or security in the process.
With CARTESI, developers within the blockchain ecosystem are proffered cutting edge technological tools and granting access to software stacks and coding languages they are already familiar with in order to create a seamless and easy approach to Dapps development as well as facilitating interactions between users/developers and the blockchain.
Giving the level of demand and computations required for DeFi, creating decentralized applications seems the surest way to attain longevity for this new financial paradigm in the ecosystem, however, one could be wondering about what edge the Cartesi network possesses over other operating systems which makes it ideal for the creation of Dapps.
Let's consider a few benefits of building on cartesi.
Unlike other networks or operating systems where the core principle of the blockchain is sacrificed in the process of Dapps development, Cartesian is designed in such a way that one can run multiples of computations off-chain while problems are solved on-chain,and above all,with compromising decentralization and security of the blockchain.
It offers developers an encouraging volume of software stacks and popular standards which they are already accustomed to as this will facilitate a seamless creation of Dapps.
On this network, there is no central authority or go-to point,no TEE,no reputation protocol or central server in the cloud,the network.is fully decentralized as consensus is securely attained on - chain.
Cartesi will be made portable across the diverse high profile public blockchain structures that support smart contracts.
It creates an opportunity for Dapp logic to be consolidated on a strong O.S using thousands of open source software stacks which is accessible to Linux and also guarantees the privacy of Dapp state for all participants in the ecosystem.
CONCLUSION
Decentralized applications are the wheels upon which DeFi roams,it is the major driver of DeFi adoptions and Cartesi is providing developers with the needed infrastructure,tools, and softwares for creating powerful Dapps.
Cartesi is designed to be highly scalable, portable, perfectly decentralized, and versatile all aimed at increasing the adoption of Decentralized Finance and guaranteeing its durability in the financial industry.
MORE INFORMATION :
Cartesi website : https://cartesi.io/
Read more on their blog : https://medium.com/cartesi