The chain-agnostic Layer 2 infrastructure, Cartesi, has announced its decision to build governance processes for its ecosystem which would secure the future of the blockchain project.
Announcing the new initiative via an official blog post, Cartesi noted that the governance move was shaped by its commitment to the principles of Blockchain (decentralization and security).
Introducing Cartesi's Governance System: Cartesi Improvement Proposals! (#CIP) 🏛️
— Cartesi (@cartesiproject) June 2, 2021
According to the Cartesi, the governance will ensure the ecosystem is progressively more decentralized. This it said would enable it to serve its diverse kinds of stakeholders better. Noting that “the more decentralize Cartesi governance, the more secure the future of the Cartesi ecosystem.”
Cartesi Improvement Proposal (CIP) System
The Blockchain project, which intends to take smart contracts to the next level further revealed the launch of Cartesi’s first formal governance system, dubbed Cartesi Improvement Proposal (CIP) system.
This is the first phase of Cartesi governance and will focus on establishing a system to standardize technical solutions. The CIP will carry out the technical functions on Cartesi’s ecosystem as other such systems do for their respective systems.
It is also worth knowing that the CIP was designed from the Ethereum Improvement Proposal (EIP) system, with a few changes developed to turn it into a more accessible process that was inspired by Polygon’s PIP process.
Notably, any member of the Cartesi community can now examine an improvement proposal by heading over to the CIP repository. The only requirement is a free GitHub account. Additionally, Cartesi noted that it was currently looking into allowing CTSI token holders, to govern the project through their stakes.
CTSI Integrated on NOWPayments
In another development, Cartesi has announced the integration of its token on NOWPayments, a non-custodial crypto payment platform. NOWPayments enables users carry out transactions with over 75 cryptocurrencies with its unique auto-coin conversion.
— Cartesi (@cartesiproject) June 1, 2021
According to Cartesi, the integration reveals the growing use cases of its token as well as its remarkable efforts towards improving the Network.
Notably, NOWpayment is a unique non-custodial platform. Because it allow merchants choose the coins they prefer to receive regardless of the crypto the customer paid with. Also, the platform supports fiat conversion and offers customized integrations such as a Twitch donation button, and a Mass Pay-outs solution.
As of the time of publication, Cartesi’s token price was $0.732547 with a 24-hour trading volume of $50,678,100. CTSI’s price was up by 7.1% over the last 24 hours. Besides, it has a circulating supply of 364 Million CTSI coins and a max supply of 1 Billion.
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