IOTA Partnered With Cartesi To Boost DeFi Use Cases: Report

IOTA partners with Cartesi which is a chain-agnostic Layer-2 Infrastructure in order to enhance the DeFi use cases and close the gap between the traditional world and blockchain as well so let’s read more in our IOTA news today.

IOTA partnered with Cartesi as the chain-agnostic Layer-2 infrastructure to expand the use cases of Defi, gaming, and NFTs but both parties aimed to serve as the bridge between blockchain and traditional technological solutions. Based in Germany, the IOTA Foundation is a global non-profit establishment that focuses on the development and research of blockcahin solutions. The project partnered with Cartesi recently to solve the issues of scalability on the most important blockchains.

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

The statement reads that both organizations will focus on implementing improvements in some fields of the crypto industry while more specifically, they will bring together solutions that will “expand the user base of Defi use cases like automated market makers, gaming, oracles, and non-fungible tokens.” At the same time, they will strengthen IOTA’s ability to offer Defi to large corporations.

Also, both parties will use the Linux-based virtual machine system, IOTA Oracles, and Smart Contracts to bring “non-blockchain-based use cases and businesses” into the areas mentioned above and the industrial Internet of Things as well.
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Cartesi CEO Erick de Moura noted:

 “From the early days, Cartesi and IOTA 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.”

According to the statement, the mainstream developers will be able to unlock the capabilities of smart contracts through the functionality and expressive power of Linux and the software components that support it but also it will be possible by integrating Cartesi’s Linux VM for the IOTA Smart Contracts. The partnership will enable corporate servers and smart devices to check the data integrity and they will also be able to execute verifiable batch processings over the integration of the Cartesi oracles to IOTA oracles. Both Parties called it a “big step forward in the journey towards mainstream adoption of distributed technologies.”

Cartesi is partnering with @iota! 🤝 #Cartesi will expand #DeFi use cases such as #AMMs, #gaming, #NFTs, and #Oracles on #IOTA while strengthening their ability to offer decentralized tech to corporations with smart contracts. $CTSI $MIOTAhttps://t.co/c2iliMyMcO

— Cartesi (@cartesiproject) March 24, 2021

IOTA’s co-founder Dominik Schiener said that the goal of the team is to strive for growth outside of the traditional world of blockchain. The new collaboration will enable these two organizations to be on the forefront of bridging the gap between the blockcahin and the traditional world.