Charli3 to form data integration partnership with CardWallet

Charli3 announces our new partnership with CardWallet, a wallet and defi platform for Cardano. With a common mission to support innovation and diversity in the Cardano ecosystem, Charli3 and CardWallet will work in collaboration to grow together and build a strong ecosystem of DeFi solutions for the Cardano community.

What makes CardWallet stand apart? what problems does it solve?
The main drawback to many wallets is their user interface and limited functions of providing access to larger scopes of the ecosystems they exist on.
CardWallet will give rise to a host of features for the user. Essentially being DeFi in your pocket;

  • NFT Marketplace
  • zero-fee swap engine
  • improved staking
  • smart order routing
  • liquidity mining
  • and cross-chain DeFi applications for the future.

They hope pe to create an all-in-one solution (including Web3 browser) that avoids folk having multiple wallets, and on mobile fix the horrible app-switching experience.

What to look forward to in this partnership?

This partnership would be a fruitful collaboration between two highly innovative and creative Cardano based projects. There would be key development efforts to strengthen the ecosystem, as a result of this partnership. For our community members, accessing a group of DeFi products provided by CardWallet would come with increased security and trust, knowing that off-chain data is being fetched by Charli3.

Tiago Serodio, the CEO and co-founder of CardWallet says:

“ Our partnership with Charli3 is going to be strong on an innovation and creativity front. Our combined development brains have the capability to bring revolutionary change to the Cardano ecosystem. Looking forward to working together and creating an impact for the community.”

About Oracles :

Charli3 is the only 100% native Cardano oracle project building in Haskell/Plutus. How Charli3 works is by pulling data from APIs, hashing them on-chain and then making them available to protocols through data streams.

I am sure you must have heard of other popular Ethereum based Oracles that are currently being used by developers across chains. So, Why Charli3? What are the problems that Charli3 solves for both end users and developers in the ecosystem?

Let us answer the above questions by looking at the current challenges with the Ethereum based Oracles and how Cardano native oracles can fix them.

Current challenges with Ethereum based Oracles:

The current oracle landscape is dominated by Ethereum-based oracles, that is, oracles that operate on (or with) the Ethereum blockchain.

Oracles with Ethereum backbones are unfortunately limited by the inherent restrictions found in the minting process on the Ethereum blockchain. Newly minted blocks can only process ~15 transactions per second leading to congestion and long wait times during times of heavy chain traffic.

This congestion has led to users paying increased fees just to push transactions through. As more users adopt Ethereum-based solutions, we have seen a meteoric rise in transaction fees.

Why a Cardano based oracle?

  • Flexible & robust scaling
  • Reduced transaction fees
  • Superior metadata and ID verification
  • Reduced carbon impact via proof of stake protocols

As blockchain adoption grows, smart contracts will rely on reliable data streams from trusted sources. Building these data streams within the Cardano networks will provide an inexpensive and scalable solution that can grow with both public and institutional adoption.

In order to provide powerful, trusted data feeds and building on a peer-reviewed blockchain is crucial.

About CardWallet

CardWallet is a non-custodial wallet solution built for the Cardano blockchain and several other protocols, incubated by the Occam Association. With out-of-the-box support for Cardano native tokens and Visa, Mastercard, and ApplePay fiat on-ramps, CardWallet is expected to rapidly become a major wallet provider for the entire crypto ecosystem. CardWallet’s strategic and technical partners already include Scalable Solutions, Simplex, Occam.fi, Nodeseeds and Crypto Dorm Fund. Learn more at CardWallet’s website.

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Cardano's Decentralized Oracle Solution