Some exciting news has just come onto the blockchain marketplace about Cartesei and their new optimistic roll ups and how they impact Ethereum scaling. The great thing about these rollup solutions is they have gone through a rigorous process of assessment and are now even thankfully endorsed by Vitalik himself, one of the founders of the Ethereum blockchain protocol.
Founded in 2018 by Erick de Moura, Augusto Teixeira, Diego Nehab and Colin Steil, Cartesi has seen a monumental rise in its popularity and is now ranked in the top 600 cryptocurrencies in the world. It is expected however that in the weeks and months following this announcement that the price of the asset will rise well into the higher market capitalisation levels.
Cartesi is special in the blockchain universe because it allows decentralized applications to run within a Linux environment. Complex processing can therefore be implemented outside of the blockchain environment. The result of this is there are no restrictions based on computational limits of blockchain and the transactional costs can also be avoided. Cartesi is chain-agnostic which means it isn’t linked to only one particular blockchain protocol and therefore developers don’t need to worry about a particular blockchain surviving in the long run when using Cartesi.
Cartesi has the vision of making decentralised app development easy, scalable, and cost-efficient. The company plans to achieve this by incorporating tools developers already use into its structure as these tools have evolved over the past 30 years and are therefore more efficient than newly developed tools as they are already fit for purpose. Cartesi is all about broader blockchain adoption and it is aiming to make decentralised apps just as prominent in the marketplace as conventional applications.
Cartesi has solved the urgent Ethereum scalability problem and huge fees by implementing an optimistic rollups variant.
Optimistic Rollups for Etherum
Cartesi is essentially a layer two project that runs on Ethereum at this time. The company has just announced their optimistic rollups for the Ethereum side chain and blockchain which aims to drive the cost of interacting with the Ethereum network way down. This is great news for blockchain enthusiasts and Etherum enthusiasts as it makes the entire blockchain ecosystem more accessible to the masses. The optimistic roll ups that have been designed by Cartesi will highly substantially lower fees by amounts unthought of before. Along with this the optimistic rollups will also take computational demands on the blockchain off chain which means that the speed of the blockchain should be substantially improved.
Cartesi is using this release as a follow up to one of their earlier releases, Cartesi Machine. This is a viral machine that is completely unique as it allows Ethereum smart contracts to run their heavy and computationally intensive programs on a Linux server. Optimistic roll ups are just the second wave intended to speed up the process of running computationally intensive software on the Ethereum blockchain.
Cartesi CEO Erick de Moura said:
“Optimistic rollups represent more than just an incremental improvement to decentralized applications. They are a vital step toward the maturity of the whole blockchain ecosystem. Allowing mainstream programmability means that DApp developers have an entirely new expressive power to create from smart contracts.
The availability of optimistic roll ups also opens the door for extensive adoption by regular developers who have never programmed for blockchain, who can now create decentralized applications with a coding experience similar to desktop or web.”
Ethereum’s congestion has reached an all time high and as a result the fees have spiralled out of control in recent months and years. Optimistic rollups offer a solution to these by promoting decentralised finance projects that may have layer two scalability options. These layer two projects could potentially result in layer one ramifications of speed and scalability that was considered impossible prior to exploring that possibility.
Summing up their contributions
After this news this company is definitely one to watch in the future. If they can do this for the Ethereum network who knows what they will be able to do for other protocols and for the blockchain ecosystem as a whole.
We need more companies like Cartesi to start tackling the challenges of scalability as the only way blockchain as a whole will gain a sustainable competitive advantage over fiat currency is if we can address the issues currently permuting the entire blockchain industry. These issues are mainly around speed and cost and thankfully cost and speed have both been addressed here by Cartesi.
Furthermore this news story highlights how important it may be to start looking to level two side chains and companies in the Ethereum ecosystem to find the solutions to existing problems of scalability.
Edward is a finance expert that experienced the 2007 stock market crash first hand. In 2010, he discovered Bitcoin and has been a cryptocurrency advocate ever since.