The future of Cryptocurrencies is already here with emerging new use cases coming out every day to solve problems to make life better and build truth and trust among people from different parts of the world. Cryptocurrency projects are on a rise. As their numbers accelerate every day, it’ll end in the widespread of mass adoption of Cryptocurrencies and Blockchain Technology. Once they are widely adopted, they can be the next version of the technology in all sectors. With this disruption, we will expect the conversion of Cryptocurrencies to currencies very soon.
We have seen the likes of bitcoin and Ethereum, the first and second generator blockchain, not been able to scale transactions, When the network is clogged, transactions costs surge while confirmation times take longer. There is no instant finality to a transfer which means the sender of Bitcoin cannot get delivery if this was a typical sale
Let us imagine we are all in business, and the transactions were taking such slow process, will it be possible to go through that channel again, you will have to opt-in for something faster, effective, and low cost for the smooth running of your business
Cartesi's response to call to action:
Cartesi offers a Linux runtime ecosystem for Blockchain Decentralized application that can scale with its complex and intensive computations, this infrastructure comprised of on-chain and off-chain while retaining the security guarantees of the blockchain
Cartesi Core
Cartesi Core is an infrastructure comprised of on-chain and off-chain components. Using these components for on-chain and off-chain, removes the processing load from the consensus layer while preserving the security guarantees of the underlying blockchain, this will make Cartesi Decentralized applications faster and scalable for its users. each participant that wants to interact with a Cartesi DApp does so through the off-chain component, which is called the Cartesi Node.
For many Bitcoin users, the reality has been that a transaction is left hanging for close to an hour before the receiver can access the funds. This uncertainty makes Bitcoin a less alluring medium of exchange when compared with traditional payments systems.
By moving computation off-chain, Cartesi Core removes the processing load from the consensus layer while preserving the security guarantees of the underlying blockchain. That's rendered possible by the combination of three principles.
A Fitting Virtual Machine Architecture
In case of a dispute in an agreement offchain, between the Dapp participants, the blockchain becomes the supreme court, settling what caused the dispute using the dispute resolution protocol, the bad actors pay dearly for it, while the honest participant get compensated for the bad actor's actions, and they will suffer heavy economic punishments, while honest participants are economically compensated by the inconvenience suffered.
Even in the rare circumstances when arbitration is needed, the confirmation process is performed with an interactive protocol that involves a negligible amount of computation and cost for the blockchain.
On-chain Dispute Resolution
Cartesi uses economic incentives to encourage Decentralized Applications participants to engage with the system honestly and in the most efficient way, by responding timely and achieving common agreement on the results of computations that happen off-chain.
Conclusion: Putting all these into consideration, Cartesi can scale With the power of Cartesi’s decentralized verification, applications will be able to outsource and distribute verifiable work.
This will bring about brilliant possibilities for trustless marketplaces and autonomous systems involving humans and machines, propelling IoT, data science and AI through new business models.
Feel free to contact us:
Website: https://cartesi.io
Twitter: https://twitter.com/cartesiproject
Telegram: https://t.me/cartesiproject
Discord: https://discordapp.com/invite/Pt2NrnS
GitHub: https://github.com/cartesi