search icon

    Market Snapshot

    • S&P Futures


    • Dow Futures


    • Nasdaq Futures


    blog search icon

    Cartesi – Developments to watch out for 

    By Muskan

    Nov 10,2021

    5:01 AM UTC

    Cartesi has had a mixed outlook during October despite many developments. The cryptocurrency has started surging upwards during the past twenty-four hours and the after-effects of October may have started to show now. The cryptocurrency is on a steep uptrend and has surged by 24% during the day. At the time of writing, the cryptocurrency stands at a price level of $1.01 with the daily trading volume having increased by more than 500%. If the bullish momentum sustains in the upcoming days, the cryptocurrency may reach new highs. 

    What is Cartesi? 

    Cartesi’s offerings is focused on smart contracts. Smart contracts are the backbone of the DeFi world as all operations occur automatically through the help of smart contracts and while smart contracts solve a lot of problems, they have issues of their own as well. The Cartesi platform takes smart contracts to the next level by solving the problem of scalability of the blockchain market through its iteration of smart contracts. The platform’s variant of optimistic roll-ups ensures low fees and high scalability for blockchains. The platform also has a sidechain by the name of Noether which provides low-cost data for the development of decentralized application. 

    Recent developments 

    During October, Cartesi launched the Mainnet beta of Noether’s delegated staking system. The soft launched was pulled for two weeks which ensures the seamless release of the full version on the mainnet. A milestone was achieved by the platform as 118.98 million CTSI were staked after the launch. The team has been working to ensure that the delegated staking system of Noether runs as smoothly as possible. Chainlink price feeds were also incorporated to the sidechain for accurate and fair price data. Moreover, Binance also began offering CTSI staking which means ease for stakers and increased growth for the project. 

    Cartesi has also been working on its expansion by increasing the interoperability of the project. Through a recent partnership with AnySwap, the network now has bridged from Ethereum to Binance Smart Chain and Matic. The token can also be swapped to Avalanche in a few simple steps. 

    The recent developments of the network have played a crucial role in boosting the value of the Cartesi network. The development team remains dedicated and the future outlook for the token is bullish. According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $1.45 in a year’s time while the five-year projection places the token at $3.49.

    More From Stocks telegraph