News

Where are we located?

Magna Numeris SAS, is the legal entity operating the Cartam application.

The company is registered at 10 rue de Penthièvre, Paris 75008, France.

Who is responsible?

Cartam is providing a service that allows users to connect and trade between them. Magna Numeris SAS and Cartam team are not responsible for any misuse of the app that will cause any loss of value or any problem related to users wallet’s funds.

Any blockchain transaction (technology used by the Cartam app) cannot be undone, and it is on the users to set up the transaction details correctly. Never communicate your private key, make sure you enter the right blockchain address and the right amount when a transaction is to be done.

However, we are responsible for having proof of ID of every user on our service, as required by the law.

What is a wallet

A wallet is a virtual storage software where digital assets can be stored. It uses the blockchain of the digital assets supported to store, send and receive digital assets.

Each wallet is unique and has its own private address which correspond to the ID of the user on a particular blockchain network.

The public key is used to send or receive digital assets.

What is an application?

A mobile application is a type of software designed for mobile device use.

What is sharing economy?

It is an economic system in which assets or services are shared between individuals, it represents a way to distribute goods services that differs from traditionnal corporation models. In a centralized corporate model the company is hiring staff to sell to customers, in sharing economy individuals tend to make other individuals use their posessions like cars or homes. Sharing economy works as a peer to peer network where users benefit from each other in exchange of compensation. We can observe two different kinds of sharing economy network organisation; a commercial business model model in which a company provides a service to be used by suppliers and customers and non profit initiative where goods and services are provided for free or for a low subscription fee.

What is cryptocurrency?

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database. Released in 2008, Bitcoin is considered to be the first decentralized crypto currency. The model of Bitcoin has since been used for thousands of other crypto currencies, they all are different but observe the characteristics of cypto currencies :

– no need for a central authority, the network is maintained through distributed consensus
– the ledger keep track of cryptocurrency units and their ownership
– he system defines how and when to create new units
– Cryptography is used to prove ownership
– A transaction statement can only be issued by an intentity proving the current ownership of the concerned units

Cryptocurrencies are a financial and monetary application using blockchain technology proposing an alternative way to organize financial exchanges between parties.

What is Ethereum?

Ethereum is an open software platform and foundation created in 2013 by Vitalik Buterin and first released in 2015. Using blockchain technology, Ethereum is an open source platform to be used in decentralized applications (Dapps). The protocol that was created using blockchain technology allows developers to build decentralized applications and use smart contract development, a smart contract being a digital contract that will execute itself under predefined conditions.

The Ethereum foundation has issued a cryptocurrency called ether (ETH) which fuels the network. Miners, people maintaining the network, earn ETH, and it is used to pay for services and transaction fees by application developers. It is the second most popular digital asset by market capitalization. The simplicity and efficiency of the ether token has made it a standard for numerous application hence, most of tokens created using smart contracts are based on Ethereum tokens. Like Bitcoin, the validity of each ether is provided by a blockchain, which is a continuously growing list of records, called blocks, which are linked and secured using cryptography.
However, the main difference between Bitcoin and Ethereum is that Ethereum network is programmable, meaning that developers can modify it to develop new kinds of applications.

What is bitcoin?

Bitcoin is the first digital asset ever created, and was the first network using blockchain technology. The unit of account of Bitcoin is a bitcoin (BTC), and alternative unit of account is satoshi (sat), 1 sat = 0.00000001 bitcoins. Bitcoin works as a decentralized digital currency operating on a network where participants can virtually access, buy, send and receive BTC, without the need of a single administrator.

The innovation with Bitcoin is that users of this technology can exchange value with anyone else using the Bitcoin network, requiring only an internet connection. Indeed, Bitcoin is the first digital currencies that solves the double spending problem, a major flaw of digital tokens, without the need of a trusted third party or central server. The Bitcoin ledger keeps track of every single transaction that has occurred on the network. The system works by continually verifying the authenticity of transactions by comparing the information between the different network nodes using a consensus algorithm. Transactions are verified using cryptography and recorded in a public distributed ledger called a blockchain.

Throughout the years, Bitcoin sucess has grown and is now regularly subject to popular interest, mainly due to its high price volatility. Despite that, more and more individuals and businesses are accpeting Bitcoin as a mean of payment.

What is blockchain technology or DLT (Distributed Ledger Technology)?

Blockchain is a technology used for the keeping and the transmission of information in a decentralized network, meaning without an entity that controls the system. Blockchain facilitates the transfer of data using consensus algorithms and cryptographic hashing functions. Basically blockchain is an open distributed ledger that can records interactions between 2 parties, efficiently and in a verifiable and permanent way. A blockchain network is tipically managed collectively by a peer to peer network of individuals.

Invented in 2008, blockchain original purpose was to serve as a public ledger for the cryptocurrency Bitcoin. Blockchain allows the transfer of value while continually keeping track of any information sent and received. The main advantages revolve around decentralization, security, immutability, and transparency. Due to its characteristics, blockchain technologies have limitless potential applications, the most know one being crypto currencies.

What is crypto currency?

Cryptocurrency is a type of digital asset running on a blockchain network. The main characteristics of a cryptocurrency are like regular currencies; means of exchange, store of value, and unit of account. Cryptocurrencies can be exchanged, sent, received and stored on appropriate blockchain wallets.