Cartesi (CTSI) made headlines this week as one of the biggest winners in the Bitcoin and altcoin market, with a 95 percent increase in its price. Here are the details…
The price of the popular altcoin CTSI has jumped: Almost 100 percent!
This rise in price comes after the announcement of the highly anticipated 2023 update that promises to bring revolutionary changes to the Cartesi ecosystem through Cartesi Rollups. Currently, CTSI is changing hands at $0.27, down 11% on the day. According to data from crypto market intelligence platform IntoTheBlock on April 20, the CTSI token experienced an unprecedented increase in transaction volume, with more than 500 transactions worth over $100,000 each; this means that transactions between $100,000 and $1 million increase by 3,300 percent over a 30-day period.
This sudden interest in the token has caught the attention of institutional investors, who are showing bullish indicators for the token’s future price, signaling a growing interest in Cartesi’s upcoming product and its potential for the blockchain industry. Cartesi is a Blockchain platform that aims to bring scalability and ease of use to decentralized applications (dApps). Cartesi will introduce a number of new features and improvements with the 2023 update.
Cartesi also created a grant program
Blockchain scaling solution running on Layer 2 offers a number of benefits such as higher transaction speeds, lower fees and enhanced privacy for smart contract transactions. It achieves this by leveraging off-chain computing, which allows for seamless integration of mainstream software with Blockchain technology. Cartesi made a breakthrough earlier this year by launching the Community Grant Program (CGP), a pilot program aimed at expanding the network of contributors to the Cartesi ecosystem. This program is community driven and offers CTSI token holders the opportunity to take an active role in the management of the project, including the allocation of grant program funding.
Cartesi is an application-specific rollup execution layer with the Linux runtime. Cartesi’s RISC-V virtual machine allows developers to transfer decades of open source wisdom into Blockchain applications and build decentralized applications with their favorite libraries, compilers and other time-tested open source tools. Cartesi Rollups can be deployed as layer 2 (on Ethereum) or layer 3 (on Optimism, Arbitrum, zkEVM chains etc) or as sovereign rollups.
As a result, the CTSI token has gained more utility and value as CTSI altcoin holders can participate in decision making and have a say in the future direction of the Cartesi ecosystem. Developers seeking funding for CGP, with funding of up to $1 million in 2023, can apply by referring to the CGP review process, rules and guidelines. Cartesi plans to launch other community governance-focused programs, such as the Ecosystem Incentive Program.
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