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Cartesi’s AMA Recap with BinanceABU

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Cartesi’s AMA Recap with BinanceABU
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LEARN HOW TO TRADE, BITCOIN, EOS, ETHEREUM, LIGHTBLOCKS MEDIA

We’ve recently conducted an AMA event in BinanceABU, an active Nigerian Crypto Community on WhatsApp. The AMA  session was held with Helen IMAH, Lead at Cartesi Nigeria and moderated by the host, Elpriist.

Helen was able to discuss several exciting facts about Cartesi, especially how Cartesi is harnessing the power of true decentralization.

Some of the questions, answers, responses and sequences may have been edited or modified for clarity and readability.

We present the Recap:

El_priist: Today, we are hosting the Cartesi Nigeria Lead. She will be talking to us about cartesi.io and some of the interesting things that have been happening in its ecosystem. Helen IMAH,⁩ you are welcome to the BinanceABU community.

Helen – Thanks for having me here this evening. It’s really a great pleasure!

Q1: The community would love to know a little about you, kindly give us a brief introduction.

Helen – I’m Helen IMAH by name, a Computer Scientist, Blockchain Enthusiast and Lead at Cartesi Nigeria. My aim is to always do what’s within my capacity to positively exceed expectations for the right people.

Q2: What about your crypto Journey, mind sharing a bit about it?

Helen – What an interesting question! I would love to share.

The first time I came across Bitcoin was in 2015 while surfing the Internet, which happens to be my most prized hobby, then I was still an undergraduate. I read related articles and watched YouTube videos that got me started on my blockchain/crypto journey. I got fully involved in 2017 as an ICO investor.

My crypto experience includes trading, social media marketing, research, branding and now I represent notable blockchain projects as brand ambassador. Anyways, it’s been an interesting journey so far.

Q3: You are the Cartesi Nigeria Lead, what are the roles your play for the project, and of course your vision?

Helen – My roles at Cartesi include but not limited to these one:

– Communicate the vision and what Cartesi represents to like-minded individuals, groups/teams;

– Assist or take initiative on orchestrating events, meetups (both virtual and physical);

 – Assist with testing new products (DApps), and new properties online (such as websites, etc). 

As for the last part of your question, I guess you mean our vision in Cartesi Nigeria. If that’s so, then Cartesi Nigeria is a subset of Cartesi project. We have a clear vision and goal; closing the gap between centralized and decentralized applications for Nigerians in terms of power, possibility, convenience and security.

We have a digital presence in Nigeria via social media both on Twitter and Facebook which is one step to gaining awareness in the nation.

We really hope to have an active community in this part of the world. I will share our community links before the end of this event. Please, ensure to wait till the end of this event so as to have the complete information, and other benefits.

Q4: Can you Give us an overview of Cartesi and give a brief introduction of the team?

Helen – Cartesi is blockchain agnostic. What this means is that; we can potentially run on any underlying blockchain. It’s a bridge between Linux and blockchain, the first of its kind in the Tech industry. You will get to gain more understanding about how Cartesi works as we move on in this session.

Answering the second part of your question, the most important asset for Cartesi is a team of very strong researchers and engineers extremely excited to create and implement novelty in the blockchain space.

A highlight of the founders can be seen below:

  • Our CEO, Erick de Moura (CEO) is a technical leader with deep experience in system design and development. Erick’s specialties include software architecture, process definition, and execution. As a consultant, developer and business owner before Cartesi itself, he has dedicated 20 years to the software industry and was pivotal in the success of several tech companies in different verticals such as Fintech, Healthtech, E-commerce, and Infrastructure.

LinkedIn: https://www.linkedin.com/in/erickdemoura/ 

  • Augusto Teixeira, PhD (Chief Scientific Officer), a mathematician with a Ph.D. from ETH-Zurich and a post-doc from Ecole Normale Supérieure of Paris. Augusto is an Associate Professor in the Institute for Pure and Applied Mathematics in Rio de Janeiro where he specializes in probability and graph theory.  Expert in crypto-economics and is connecting the Cartesi architecture to Ethereum and Turing-complete blockchains. Throughout his career, he published 28 publications and academic papers.

Website: http://www.impa.br/~augusto/

LinkedIn: https://www.linkedin.com/in/augusto-teixeira-39a3a8169/ 

  • Diego Nehab, PhD (CTO), a computer scientist with a Ph.D. from Princeton University and a post-doc from Microsoft Research.  Diego is an Associate Professor in the Institute for Pure and Applied Mathematics in Rio de Janeiro where he is a member of the visual computation group. An expert in computer graphics, image processing, and massive parallelism (GPGPU), was granted 3 patents, published 36 articles and scientific papers, and received more than 1900 citations. 

Website: http://www.impa.br/~diego/ 

LinkedIn: https://www.linkedin.com/in/diegonehab/

  • Colin Steil (COO), execution master with years of experience in community and business operations across the globe. Colin is a previous venture capitalist and start-up founder with a specialty in the Asian ecosystem. Colin first got involved in blockchain in early 2017 and began working with blockchain technology, crypto exchanges and ICO projects in the venture capital industry. 

LinkedIn: https://www.linkedin.com/in/colinsteil/

You can learn more about the brains behind Cartesi from here: https://cartesi.io/en/about/#founders

Q5: What plans does Cartesi have for Africa, Nigeria to be precise?

Helen – The main focus of Cartesi around the tech and blockchain space is to close the gap between centralized and decentralized applications, both in terms of possibility and convenience.

Nigerians do have an equal chance of participation in the Cartesi ecosystem either as; developers, investors, partners, traders, and so on.

An individual can decide on which is best he/she fits in after knowing the ecosystem to some extent.

 Segment 2 : Community Questions

How does DeFi work?

Helen – DeFi is short for “Decentralized Finance”. It’s one of the hottest topics in the crypto space. DeFi includes digital assets, protocols, smart contracts, and dApps built on a blockchain involving finance.

Think of DeFi as an open financial ecosystem where you can build various small financial tools and services in a decentralized manner. Since these are applications built on a particular blockchain, they can be combined, modified, and integrated according to your needs. 

Given the flexibility and amount of development, the Ethereum platform is the primary choice for the DeFi application, but that doesn’t mean it’s the only blockchain platform. DeFi is distinct because it expands the use of blockchain from simple value transfer to more complex financial use cases. DeFi is offering you control of your own assets.

Cartesi is a general purpose infrastructure that is suitable for many purposes ranging from DeFi, Gaming, Research, Machine Learning, and more. The possibilities with Cartesi are actually very vast, since Cartesi allows you to build DApps using any mainstream software component that runs on Linux. This means that everything that is now too computationally complex or simply too difficult to develop from scratch (that is, too difficult to build without using an existing lib) can now be hooked into your DApp without compromising on decentralization. Some examples available in our tutorials include using the Linux GnuPG tool to verify document signatures, and computing Dogecoin/Litecoin proof-of-work hashes using the scrypt algorithm, which is too computationally expensive to be done in Ethereum. You can check out those and other tutorials here: https://cartesi.io/en/docs/tutorials/introduction/ 

Specifically regarding DeFi, we see many applications as well. People could use Cartesi to build any financial instrument that involves computations that are too complex to be performed on-chain. One example for that would be to build services for options and other derivatives. Cartesi would also make it possible to build a “verifiable centralized exchange”, where a currently centralized exchange could have its computations verified by any interested party.

Can you explain what $CTSI reserve mining is?

Helen – Cartesi’s $CTSI Reserve Mining is the first step towards bootstrapping the network of our data availability side-chain on Mainnet. Current and aspiring CTSI holders will be able to easily stake CTSI via its PoS system on Ethereum. Cartesi has reserved 25% of its total token supply for this purpose.

At the PoS Mainnet launch, CTSI Reserve Mining will compete with DeFi Protocols in terms of rewards and flexibility. Also, Cartesi provides more security with a system that relies on staking contracts that have been properly tested and audited.

CTSI Reserve Mining and its PoS system aim at bootstrapping the network of Cartesi’s side-chain, Noether, a highly optimized data availability oracle for temporary storage and an important part of Cartesi’s scalability stack.

The final phase of Cartesi’s staking will be CTSI’s innovative staking auction system, which brings a number of benefits to staking such as users being able to pre-define their staking rewards and opportunity costs.

What is it about CTSI Reserve Mining that makes it special?

  • Miners get a reward of 2,900 CTSI per block claimed. On average, each block is created every 30 minutes
  • Users’ funds are safe while held on the staking contract, duly audited by SlowMist
  • No slashing and no risks to the principal due to node malfunction or unavailability
  • Rewards distributed directly to the user’s wallet, eliminating extra ETH transaction fees
  • No lock-ups. Staked CTSI can be recovered in a few minutes from the system

You can read more about our reserve mining here: https://medium.com/cartesi/ctsi-mining-how-it-works-37d3dc6d86e0 

What do you mean when you say Cartesi has no reputation protocol?

Helen – Cartesi reaches consensus and maintains all decentralization and security aspects of the underlying blockchain without the need for a protocol that involves “reputation” and trusting individuals who have succeeded in the past.

This means that Cartesi achieves consensus in a fully decentralized manner off-chain. DApp users can achieve consensus off-chain and if there’s an attempt of fraudulent computation. Cartesi uses the blockchain as a supreme court, identifying and punishing dishonest parties. In the rare cases when these dispute resolutions arise, the blockchain runs an interactive dispute resolution and is left to run a single step of the original computation with a negligible amount of data (we use a Verification Game implementation). That happens at a negligible cost to the blockchain. 

In addition, compared with some well-known Layer-2 solutions, Cartesi doesn’t require parties to remain on-line all the time to participate. Therefore, Cartesi is a platform that users can enjoy the benefit of decentralization without sensing it. 

Every token has a unique use case it is known for, what is Cartesi known for?

Helen – CTSI is a utility token that works as a crypto fuel for Cartesi’s side-chain. Stakers receive CTSI rewards by staking their tokens and participating in the network. Node runners are selected randomly according to a PoS system and gain the right to create the next block. Users of the network pay CTSI fees to insert data on the side-chain. CTSI will also be used for DApps to outsource the execution of verifiable and enforceable computation to entities running Descartes nodes. Detailed information can be found here: https://medium.com/cartesi/cartesi-network-and-ctsi-b9a5e206fedf 

The team is committed to maintaining very high quality liquidity for the project, both on centralized exchanges and decentralized exchanges. In addition, no entity or token holder is more interested in the health of CTSI’s economy than the Foundation itself for its entire existence and longevity. The Foundation liquidates only the amounts deemed necessary, remaining careful not to disturb the secondary markets of CTSI.

How does Cartesi intend to be adopted as an excellent bridge between Linux and Blockchain?

Helen – Cartesi is an Operating System for DApps that bridges mainstream technology with the blockchain world.

However, it’s not only about bridging the gap between a real OS & blockchain and providing virtually unlimited computational power. The most important asset for Cartesi is a team of very strong researchers and engineers extremely excited to create and implement novelty in the blockchain space. 

Scalability is a multidimensional problem. With Cartesi Core and Descartes we empower first and foremost computation. With upcoming roll-ups, we can essentially have smart-contracts being implemented and running on Linux. With the Side Chain, we can achieve much higher throughput, lower latencies, and cheaper temporary storage for DApps.

With these systems in place, we get something that could be analogous to general-purpose Linux servers, however, decentralized, efficient, and with the same security guarantees that the blockchain provides. 

How does Cartesi intend to cope with transaction speed when large numbers of multiple transactions are to be processed through the blockchain?

Helen – Cartesi is taking smart contracts on Ethereum to the next level. It is solving the urgent problem of scalability and high fees by implementing a variant of optimistic roll-ups. Most notably, it is revolutionizing smart contract programming by allowing developers to code with mainstream software stacks instead of Solidity.

Cartesi is a team of first class researchers and software engineers that keep looking ahead and creating new solutions for pressing problems around blockchain and decentralized systems. 

First, Descartes will evolve from a computational oracle to a layer-2 infrastructure that supports scalable smart contracts which can be developed with mainstream software stacks. 

We are also working on Noether, a side-chain for temporary data storage, optimized for Cartesi DApps that will run on Ethereum. Think of data availability with high throughput and very low costs.

We are designing a staking system that makes no assumptions about users’ risk preferences. One that also allows them to define the rewards they expect to get from staking. This is new and particularly relevant at a moment in which DeFi DApps are diverting token holders away from staking. Here is a detailed article on Cartesi’s macroeconomy and its staking system: https://medium.com/cartesi/the-ctsi-macroeconomy-ea60a35ab2f3 

There’s much more to come and to be announced and we are really driven by the passion of opening new frontiers. 

Does Cartesi have future plans of branching out to usage of other OS in addition to the Linux OS?

Helen – To avoid confusion, Cartesi can run on any computer. The OS is emulated to develop DApp logic on.

Linux is the most relevant OS nowadays in many aspects. Also, Cartesi and public blockchains have an intimate relationship with open-source software. Linux and RISC-V are very good representatives of the open-source (and open standard) worlds with more and more adoption. (Even Microsoft is embracing open-source and Linux, which is an interesting factor to consider).

Finally, it’s important to say that in principle, Cartesi’s architecture and platform can also (easily) support other OS’s. But at this point, we don’t see a need to invest or to promote this possibility.

In regards to full decentralization, there are so many DeFi projects out there moving with similar goals, therefore what partnerships and affiliations is Cartesi going to make in order to reach full decentralization?

Helen – Our initial plan for user growth relies on the Cartesi Network and its features. As mentioned above, Cartesi will soon be launching CTSI Reserve Mining which will actually compete with DeFi protocols (like liquidity mining) in terms of rewards and flexibility.

We are looking up to building strategic partnerships with several public blockchains where we will benefit each other to rapidly increase adoption and release the killer DApps the community is searching for.

We are currently exploring a number of promotional activities with additional releases of our SDK software and documentation. These include DApp creation contests, hackathons, and DApp bounty competitions. 

Watch close for the first phase of our PoS system launching which will bootstrap Noether and Staking Auctions.

We would like you to be a part of our growing community if you aren’t already. We’re inviting you to join us on our social media platforms, and on Telegram:

Follow us on Twitter: https://twitter.com/CartesiNigeria

Join us on Telegram: https://t.me/CartesiProject

See our Official Website: https://cartesi.io/

Join us on Facebook: https://www.facebook.com/groups/588520218517225/

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