In recent weeks, the Cartesi team have been working actively to prepare the Proof of Stake for the Mainnet release later this year. So far so good, the staking progress include: the initial phase of auditing of our staking contracts, ongoing tests on Goerli with cloud node instances and Preparation of installers.
Görli Testnet is the first proof-of-authority cross-client testnet, synching Parity Ethereum, Geth, Nethermind, Hyperledger Besu (formerly Pantheon), and EthereumJS. This testnet is a community-based project, completely open-source, naturally.
What is a Proof of Stake?
Staking in cryptocurrency means to hold assets in order to verify transaction and support a network, by doing this, you’d receive a reward which might be in the form of coins that might increase in value.
To stake a coin, you’d need to understand the proof of stake process, with this technique, new blocks of assets are produced for staking. When a user secures a highest number of coins, this person becomes a block validator or in a sense the winner of the stake.
Proof-of-Stake (PoS) systems achieve consensus by asking users to stake their funds into the platform in exchange for the rights to perform tasks on the network. The stakes are locked as a collateral and can be lost in case of malicious behaviour.
Moreover, most PoS algorithms are only guaranteed to work under the assumption that no malicious user holds more than 50% (or 33%) of the total amount of tokens available. In other words, it is crucial that tokens are well distributed among the members of the community who participate in the consensus.
As PoS needs user engagement to work, projects have the need to carefully plan rewards systems to achieve a target participation rate. From the perspective of the user, staking is a problem of opportunity cost: “does the benefit of staking outweigh the risks and covers the time-value of my money? “
Why you should stake
Staking can be used to generate additional income for the holder that is by holding an asset you gain additional value and reducing risk associated with trading. Staking a coin or asset isn’t expensive and doesn’t require computing power like mining. Staking is almost very easy to use on platforms that offer it.
Cold staking is a simple, secure act of staking in a cold wallet, meaning the asset is not connected to the internet. With a cold stake, an asset holder will need a physical or hardware wallet to stake his or her coins.
Cartesi helps you build scalable Decentralized applications using Linux OS and its core stacks, it also allows you to run high end complex computations off-chain and free from the limitations of blockchain like fees while also keeping a decentralized platform and advanced security. You can build DeFi applications that work outside the current limitations of blockchain with Cartesi.
Cartesi also provides big opportunities for blockchain games. With Cartesi, developers will be able to use tools native to Linux and offers a need to preserve decentralization. Cartesi will also be a great benefit to Machine Learning Enthusiasts, Research and Automation industries.
Cartesi allows users to run their Decentralized apps themselves or through other service providers of their choice. With these Nodes, users can prove their claims on blockchain and implement their interests. Your App is running heavy and advanced computation off-chain while keeping full decentralization and strong security guarantees that come with blockchain.
Currently, implementation of the Cartesi Explorer is ongoing. Cartesi is following the roadmap to bring every vision to fruition. Multi-party support for Descartes nodes has been concluded. With that, off-chain computation with multiple validators is now possible. Descartes SDK is a layer 2 system solution for smart contracts and dApps. Features of Descartes SDK include Blockchain-agnostic, scalable computation, preservation of privacy.
The most unique feature that distinguishes Cartesi from other layer 2 solutions is the fact that dapp logic can be built on linux and tools from the mainstream software. Two principles make Descartes work: deterministic RISC-V VM architecture and optimistic local consensus protocol – participants are incentivized to engage with the protocol honestly.
Cartesi has also concluded the specification of Descartes 2.0, which will implement optimistic roll-ups with interactive dispute resolution.
We highly encourage any developer willing to use or collaborate with Cartesi to contact us on Discord. We will be more than happy to offer you guidance.
Cartesi’s Ecosystem Links:
Telegram Announcements: https://t.me/cartesiannouncements
Discord (Development Community): https://discordapp.com/invite/Pt2NrnS