IOTA has entered into a strategic partnership with Cartesi, a blockchain firm that introduces mainstream software stacks to smart contracts.
The aim of the partnership between IOTA and Cartesi is to improve the adoption and development of smart contracts for IoT. With this partnership, Cartesi VM will also be integrated into IOTA dApps as an official VM option.
We’re happy to work with Cartesi, an established #smartcontract ecosystem, to accelerate the adoption of #IOTA Smart Contracts. The @cartesiproject Linux #virtualmachine will allow developers to create smart contracts using mainstream software. https://t.co/i62rB98eUu pic.twitter.com/TUtxICDdma
— IOTA (@iota) March 24, 2021
What Does the Partnership Bring?
The official partnership between both networks and communities aims towards the expansion of popular use cases of decentralized finance (DeFi). These use cases also include gaming, automated market makers (AMMs), oracles, and non-fungible tokens (NFTs).
Besides, the partnership will strengthen IOTA in its provision of decentralized technologies to organizations that use common technology stacks. The partnership will present IOTA and Cartesi with a range of effective mainstream tools useful to engineers and developers in the traditional software industry.
Going forward, both organizations will work towards two key essential areas in their respective ecosystems. First, the IOTA smart contracts will add Cartesi Linux Virtual Machine as a custom VM. Therefore, enabling developers to leverage mainstream software components while creating smart contracts.
Secondly, Cartesi will integrate IOTA Oracles into its computational oracle. This integration will enable smart devices and corporate servers to check their data integrity and provenance and also to execute verifiable batch processing. With IOTA Oracles, both firms will bring use cases and businesses into the world of gaming, industrial OT, decentralized finance (DeFi), and NFTs.
About Cartesi and IOTA
Most developers find it difficult to access certain mainstream software. As a result, Cartesi provides them with solutions by granting these developers access to Linux-supported mainstream software stacks for coding. This helps developers to explore greater opportunities.
Headquartered in Germany, the IOTA Foundation is a global not-for-profit foundation geared towards supporting the development and research of new distributed ledger technologies (DLT). Since its inception, the IOTA Foundation’s team has had close ties with the Cartesi team.
Erick de Moura, CEO at Cartesi, notes, “From the early days, Cartesi and the IOTA Foundation have been exchanging thoughts and studying the best ways to collaborate. After several technical meetings over the last years, we see an integration path forward that will bring tremendous opportunities for DeFi, Gaming, NFT, and industrial IoT.”
As a result of this officially announced partnership, IOTA will leverage Cartesi’s extensive experience in the smart contracts space. Both firms will also work together in improving the development of the IOTA Smart Contract Protocol.
Recently, Cartesi announced they recorded a huge milestone in their brand new CTSI Reserve Mining program.
As of the time of publication, Cartesi price was $0.654028 with a 24-hour trading volume of $137,241,975. CTSI price also fell by 8.8% over the last 24 hours. Besides, it has a circulating supply of 309 million CTSI coins and a max supply of 1 billion. Binance is also the current most active market trading CTSI.
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