Three common questions people ask me on a daily basis are,
"Ben, what's your favorite layer 2 project?"
"What's a more scalable smart contract solution compared to Ethereum?"
"What's the best low cap gem available on the most popular exchanges? "
Truth is,
these three questions have only one answer.
Cartesi.
Let's get it!
Welcome to BitBoy Crypto!
Home of the BitSquad
The largest and greatest crypto community in all the Interwebs
My name is Ben.
Everyday on this channel, I show you how to make money in crypto.
If you like money and crypto, then make sure to hit that subscribe button.
In this video, we're going to cover one of our partners here at the channel.
We're going to discuss recent news involving Cartesi,
information about staking their native token CTSI
and why Q4 will be massive for this up-and -coming project.
In previous videos,
we've discussed how Cartesi has approached solving convenience and scalability issues
many blockchain protocols deal with by creating an infrastructure
that is compatible with the industry standards of software development.
Many blockchains are coded in languages that few developers are familiar with.
Therefore, it's a daunting task for the masses to get involved.
Cartesi, on the other hand, is compatible with Linux,
which is the go-to language for a vast number of programmers.
One of Cartesi's mission statements is to close the gap between centralized and decentralized applications,
both in terms of possibility and convenience.
Running on Linux eliminates numerous limitations that countless blockchains face
by empowering thousands of decentralized app developers
to build products for the masses in a convenient manner.
That's important.
Cartesi combines its own virtual machine, optimistic rollups and sidechains
to revolutionize the way developers create blockchain applications.
Cartesi's sidechain Noether is a data availability oracle optimized for ephemeral data.
Since Cartesi is a layer 2 solution, it uses this underlying blockchain
to do the heavy lifting such as solving complex problems,
randomization, timing attacks and more.
This allows dApps to temporarily move and store files for lower fees.
The name of this sidechain, Noether, is a bit of a double entendre
because it's a nod to the German mathematician Amalie Emmy Noether
as well as wordplay that suggests data storage will be cheaper on Cartesi than on Ethereum,
hence "No Ethereum"?
Noether?
No Ether?
Get it?
During the beta phase, Cartesi worked with three staking partners,
Everstake, Blockscope and HashQuark,
to ensure block production and accurate testing.
Testing was very secure and smooth.
Since the three-phase beta step is now complete,
I'm very happy to tell you that Noether proof-of-stake system's staking delegation
is now fully launched on mainnet.
After a successful mainnet beta period,
anyone is now able to create a fully decentralized pool
where CTSI holders can delegate their tokens in a safe and trusted environment
with no caps or limits.
CTSI holders can now create and manage staking pools as well.
This is great news for CTSI holders because it's fully decentralized.
There are no risks to your CTSI and you maintain complete ownership at all times.
If the pool you are staking to does not run its node properly,
you can easily move on to another one.
On October 18,
Cartesi tweeted that they have staked 118.89 million tokens
following the full release of Noether's staking delegation on mainnet.
You can start staking and earning rewards and simultaneously help to secure the Noether network.
If you want to stake your CTSI with the BitSquad,
don't worry. We're very hard at making a Cartesi pool that will be live very soon.
There's an in-depth step-by-step guide on the BitSquad website.
Essentially, you will need to have CTSI and ETH in your MetaMask wallet.
Then go to explorer.cartesi.io, click on "Connect to Wallet",
select the BitSquad pool, set an allowance, deposit your tokens, stake your tokens,
then kick back and enjoy the rewards.
On a bigger scale,
it's important to stake your tokens so your money makes more money
and because with staking CTSI, you hold onto the Cartesi project token.
This way, you support Cartesi's project,
a layer 2 solution that integrates Linux and standard programming environments
to the blockchain,
allowing developers to code scalable smart contracts
with the rich software tools and components they are used to.
Blockchain adaptation is a niche in the world of computer developers.
Only 0.1% of developers have explored blockchain because of its inconveniences.
Developers worldwide deal with very restrictive environments
and cannot code smart contracts with mainstream software.
With an operating system like Linux,
they could use existing software and tools to create blockchain applications.
Now that you're up to speed on Cartesi staking,
let's talk tokenomics.
CTSI is ranked 239 on CoinMarketCap and currently priced at 71¢,
up almost 18% in the past 7 days.
Its all-time high of $1.75 was reached on May 8 of this year.
Its market cap is about $311.5 million
with an available supply of 431.3 [million] tokens.
The total supply is 1 [billion].
Now, keep in mind that to get into the top 100 coins,
you'll need a market cap of just over $1 billion,
which is a completely possible goal for this project to achieve.
For some moon math,
if CTSI were to get its market cap to a billion,
the price would be $3.21.
4.5X sounds good to me.
This project is seriously undervalued,
and it is without a doubt one of my personal favorite altcoin gems to keep my eye on.
If you don't own CTSI yet,
it's very easy to acquire as it's on Coinbase, Kraken, Binance and KuCoin
and other leading exchanges.
But don't exchange anything unless you are subscribed to the BitSquad,
and you can do that by smashing that like and subscribe button.
In a recent Medium article by Colin Steil,
last month alone,
Cartesi updated the implementation of the Rollup Machine Manager,
a service that will act as an interface between the high-level rollup logic
and the Cartesi Machine.
Cartesi completed architectural updates on the Cartesi Machine Emulator
to support the rollup requirements,
as well as making improvements on the Descartes Machine Manager
and making progress on towards the full MVP implementation
of the Texas HODL'em poker game they're creating.
Cartesi is check-raising Ethereum by giving thousands of Linux developers
a foot in the door to develop smart contract dApps.
It's clear and obvious that Cartesi is one of the hardest working
and innovating teams in the space.
They're years ahead of this curve.
Because of this, I want to drive home this final point.
When you spend enough time researching and learning the interworkings of hundreds of projects,
you will quickly find that the most successful projects tend to have strong leaders
who are intelligent enough to see past the immediate
and have the foresight to understand what the space will need 5-10 years down the road.
After countless years of trial and error,
I found that it's best to invest in projects that align with your personal wants, needs and beliefs.
This is the type of research I want every new trader in the space to do.
By getting educated,
you're not just throwing money at a crypto ticker.
You're supporting a cause that you believe in.
Yes, we're all in this game to make money,
but you'll quickly learn that immersing yourself in this space
is a lifestyle decision that takes up a vast amount of time and energy.
If you're going to invest your hard-earned money into a project,
don't FOMO into the latest memecoin or what you see the comments section talking about.
A cause that means a lot to me is decentralization and privacy.
These two common denominators are the beating heart of Cartesi.
No one wants their online data to be used against them by big tech corporations.
These centralized conglomerates overstep their boundaries on a daily basis,
and they will find a way to cancel you if you rattle their cage.
YouTube pages get blocked or shadow banned,
Facebook will take down your posts,
people lose their blue checkmarks on Twitter or Instagram,
and all because you say something that goes against their biased guidelines
even if what you're saying is factually or scientifically proven.
In time, blockchain will be a major catalyst for the progression of the Internet,
which will allow content creators to not have to walk on eggshells.
Erick de Moura, Founder and CEO of Cartesi, elegantly elaborated on this idea in a series of tweets.
Decentralization doesn't matter until it becomes indispensable.
When monopolies that intermediate everything people do on the Internet fail,
it is either dangerous, painful, or expensive.
The Internet can be way better!
In the early days of Web1.0,
it was controlled by the community.
This democratic, inclusive and free spirit of the Internet can be recovered.
This is why decentralization and blockchain tech matter.
With an industry standard compatible computing system,
strong leadership, Noether staking and delegation on the mainnet,
a blockchain poker app on its way
and a hardworking team constantly developing and improving their infrastructure,
they're all contributing to factors to why I believe Cartesi is an altcoin gem
that will catapult itself into the top 100 in due time.
Don't be scared to put your chips in the pot, but, of course, I can't give you financial advice.
Gems like Cartesi are the types of diamond hands that pay off big time in the world of crypto.
I'm all in.
That's all I got.
Be blessed.
BitBoy out.