Popular crypto trader Ben Armstrong says one little-known altcoin gem could pose significant competition for Amazon Web Services.
In a recent YouTube update, crypto influencer Ben Armstrong claimed the low-market capitalization altcoin Cartesi (CTSI) could be a potential competitor for Amazon Web Services in the future. Armstrong said he was keeping a close eye on the scalability solution project and its Ethereum-based computational oracle Descartes.
He said: “Think of Descartes as an oracle for heavy computations. It makes intensive computations verifiable on the blockchain. Why does this matter? Well, today several projects compromise their level of decentralization because computations on blockchains are too limited. They end up using centralized setups to do the heavy lifting, for companies such as Amazon AWS for service infrastructure.”
Armstrong called the technology a potential lynchpin for other blockchain products and noted it could be used in calculating risk for decentralized insurance and other options. He concluded by predicting Cartesi would be a “monster,” for the rest of 2021 and a key player in the smart contract blockchain ecosystem for years to come.