Passive income.
I like it.
You like it.
Even those personal finance books your dad told you to read,
they like it too.
Blockchain technology has been able to make good use of our love of passive income with staking,
allowing users to stake coins to nodes that support the network in return for rewards.
One of the newest projects to offer delegated staking is also one of our favorite projects,
Cartesi.
By now, you know I'm an advisor for Cartesi
because I believe that this project has one of the best solutions
for making blockchain technology more efficient.
Cartesi's oracle is the missing puzzle piece
that could allow more information to be handled off chain,
which means that Cartesi could be the giant that can declutter blockchains
and ultimately challenge data hosting giants like Amazon Web Services,
Stacking and staking this crypto gem is a great way to get in on the gains.
Cartesi has been working on research and development
with a focus on building something new,
something that the blockchain industry really needs in order to become more user-friendly.
We want decentralization to win, don't we?
Well, to win, we've got to be good.
Cartesi wants to make blockchain and decentralization good, easy to use, intuitive and innovative.
Let's get it!
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My name is Ben.
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In this video, we dive into what's new with Cartesi
and learn more about Cartesi's newly launched delegated staking.
Cartesi is an off-chain decentralized computation platform
that aims to make dApps more powerful and user-friendly.
Cartesi wants blockchains to do more,
faster computations,
reduced fees,
and complex smart contract logic within mainstream software.
Blockchain is a revolutionary technology.
There's no doubt.
But even something as innovative and useful as blockchain has its problems.
High fees and lack of user-friendly apps and interfaces can cause users
to migrate away from decentralized to centralized platforms.
Developing software on decentralized blockchain platforms can be difficult,
expensive and prone to glitches and delays.
Solidity, the language used to build and develop most blockchains,
also presents a problem because it's different from the programming language
that many developers are used to operating in.
This is how the broader adoption of blockchain is being held back.
And it's exactly the problem Cartesi is working to solve.
Speaking of holding back,
don't hold yourself back from smashing up that like button.
Comment down below.
Are you learning about Cartesi for the first time?
Or are you a CTSI veteran?
Do you want to stake your Cartesi to earn rewards?
What are your thoughts on our upcoming BitBoy Cartesi staking pool?
More about that later in this video.
Leave a comment down below and tell us what you plan to do with your Cartesi holdings.
So, how does Cartesi solve the blockchain problem?
They use rollups that push complex computations outside of the blockchain,
which frees up the network to receive and log transactions.
There have been other attempts to solve this issue including plasma chains, state channels and sidechains,
but rollups have turned out to be the best solution for unclogging blockchain network,
allowing for less congestion and lower fees.
Cartesi is working to build a better blockchain,
less congested and cheaper,
and dApps with a better user experience that attracts a wider range of developers.
What's not to like?
No wonder Cartesi remains one of our favorite projects.
And now stacking Cartesi just got more valuable with the introduction of delegated staking.
Staking Cartesi supports the Noether,
which is Cartesi's data availability oracle.
This oracle is optimized to handle ephemeral data,
which is data that's only needed temporarily.
Blockchains are loaded with information, and they're built to store that information indefinitely.
Most dApps don't need this kind of long-term data storage.
And the Noether is a temporary data storage ledger
that opens more efficient and cost-effective venues for applications.
When users stake their Cartesi, they help secure the Noether infrastructure.
In September 13, Cartesi released its delegated staking testnet upgrade,
which will pave the way for delegated staking on mainnet.
Mainnet beta will launch at the beginning of October.
Full mainnet will launch mid-October.
The Cartesi community will be able to use the Cartesi Explorer
to easily stake their CTSI to a staking pool.
Users can already run a node and stake their Cartesi tokens.
When users are executing Cartesi's proof-of-stake software,
they participate in a lottery that selects block producers.
And each user is randomly selected with greater probability of being selected
according to the number of tokens the node is staked.
When selected, the users receive block rewards extracted from the mine.
The node has to run continuously.
And missing connectivity can result in missing out on the reward.
Even though there are no slashing penalties when staking with Cartesi,
your principal investment is always safe.
When the average user wants to stake their coins and forget about them
while still reaping the rewards,
that's where staking pools come in.
Just find a pool on Cartesi Explorer,
stake,
and start earning passive income from your Cartesi stack.
We're excited to announce that we are setting up a pool for the BitSquad.
And users can easily stake Cartesi there.
Stay tuned for details.
Cartesi is aware of some flaws with staking tokens on proof-of-stake platforms
like leaving too much in the balance
with the possibility of malicious users holding more than 50% of the available tokens
compromising the network,
which means that distribution has to be carefully accounted for.
Cartesi is tackling the staking problem by requiring a staking node to reach target participation levels
in order to function properly.
Nodes are sometimes incentivized by rewards of newly minted tokens,
which causes inflation of the asset and ultimately compromises the value of the reward.
By 2022,
Cartesi plans to release an auction system where nodes will actually bid and pay for staking rights.
This will give a lot more choice for stakers rather than just stake or don't stake.
It will give short-term and longer term stakers a chance to bid for staking rights that work for them,
which over time could give more stability to the Cartesi price
because of more long-term stakers choosing to lock up their CTSI.
It could also create deflation of the asset over time as Cartesi gains value
because users may want to bid more than one unit for their staking rights,
and that excess will be split between the mining reserve
and developing the Cartesi infrastructure,
and the rest will be burned.
Cartesi has seen some solid price action over the past year,
going from 46¢ and peaking at its all-time high of $1.70 in May.
On our live stream back in April, someone asked, "What do you think about Cartesi hitting $1?"
All I could say was
"What do I think? I think I told you so."
Cartesi is a great project.
And people were taking notice then.
They're still taking notice now.
After the mini bear market,
the price of Cartesi saw a substantial uptick the beginning of August
jumping 50% from about 40¢ to 80¢ in a little less than a week.
Cartesi is currently trading at about 64¢ after seeing a pullback
from its most recent high of 93¢ at the beginning of September.
A pullback can be a good buying opportunity,
so eyes on Cartesi, BitSquad.
Cartesi is in high demand,
and staking will help retain Cartesi's value over time.
When tokens are staked,
there's less incentive for users to sell their tokens
and more incentive to hold.
This could mean more steady price increases and eventually less volatility to the downside.
In the news for Cartesi, it's now a member of the Blockchain Game Alliance,
which brings it a step closer to helping create more user-friendly decentralized gaming experiences.
Blockchain Game Alliances is a committee of top players who want to find new ways
to build strong gaming communities.
Cartesi is also carrying out transactions with NOWPayments,
which means that users can pay for merchandise on sites like OpenCart, WooCommerce, Zen Cart
and many more.
CTSI can now pay salaries, transfer rebates and give donations,
and boasts an instant cost-effective and seamless payout.
Cartesi has also introduced the Igniter Grant
that aims to drive global awareness and the adoption of Cartesi.
The grant will support developers, community members and companies
by bringing their ideas to life.
We are stoked that one of our favorite projects is introducing easy staking.
And we can't wait to be part of it all.
That's all I got.
Be blessed.
BitBoy out.