COTI (Currency of The Internet) is the first enterprise-grade fintech platform that empowers organizations to digitize any currency. So they can save time and money by creating their payment solutions. It aims to establish a decentralized and scalable payment network to facilitate efficient global trade.
Combining distributed ledger technologies with traditional payment solutions, COTI; aims to create a modern decentralized payment solution based on trust, instant and cost-effective.
The COTI network uses a transparent and fair fee model that guarantees that every fee is distributed and balanced among network participants. The node manager of COTI allows anyone to join the network as an operator and run them.
The first platform optimized for creating price-stable tokens, the COTI platform allows companies to establish an advanced fintech structure for saving money, data, and time. By issuing your stablecoin with COTI, you can control your money and data.
What is a stablecoin?
Stablecoins design help minimizes or even eliminate price volatility in cryptocurrencies. COTI provides the technology needed to power stablecoins by providing their customers with stablecoins bearing their names on which they can trust. Companies can adjust their stabilization mechanisms to any asset they choose.
COTI is a high-performance cryptocurrency built on top of the underlying layer protocol. This cryptocurrency is for common means of payment, including all fees and stakes in it. All fees of the COTI ecosystem might get paid in COTI coin.
COTI Coin Supply
During the formation stages of the network, the total COTI token supply capped at 2,000,000,000 COTI. Due to the Directed Circular Graph (DAG) structure and the decentralized nature of the COTI network, it is not possible to create additional COTI coins after the creation process.
Advantages of COTI
COTI provides the following 7 key elements for a perfect payment infrastructure:
- COTI can handle over 100,000 TPS compared to 25,000 TPS in traditional payment systems and 20 TPS in Blockchain protocols.
- COTI users and vendors face tools that are easy to use.
- Buyer-seller protections. COTI offers the first dispute resolution system in history to protect users against errors, fraud, and other party abuse.
- Cost-effectiveness. COTI eliminates intermediates and the need for costly mining, which significantly reduces costs and energy consumption.
- Price stability. COTI creates the price stability technology necessary for the mass adoption of Blockchain for payments.
- The technology of COTI makes P2P payments and remittances instant.
- The ledger technology of COTI eliminates a single point of failure for enhanced security.
What does COTI provide to users?
- Higher profit. This issue allows you to increase your revenue by reducing operational expenses and transaction fees, with less dependence on external stablecoins.
- Price stability. With COTI technology, price volatility in digital currencies might get eliminated.
- Low transaction costs. It eliminates the dependency on foreign currencies and ensures cost reduction.
- Newmarket opportunities. Allow you to increase your market reach by offering more payment methods.
- Loyalty Networks. To retain profits and customers, COTI has developed a Blockchain-based loyalty network. In this way, businesses can create new revenue streams while users get rewards with loyalty tokens added to their wallets.
What is Trust Chain?
Trust Chain is at the heart of the COTI infrastructure, a proprietary consensus algorithm based on machine learning that significantly reduces transaction costs and increases transaction speed by assigning trust scores to transactions and clustering them into chains. Trust chain is based on a multi-DAG (directed acyclic graph) data structure that works together and processes more than 100,000 transactions per second (TPS) to increase scalability.
What is DAG?
DAG (directed acyclic graph) is a suitable infrastructure for payments due to its scalability and low transaction costs. DAG-based protocol of COTI combines the infrastructure, service, and application layers to create a modular and fully customizable holistic payment solution.
Innovative DAG data ledger and algorithm based on machine learning provides price stability mechanisms and buyer-seller protections while processing over 100,000 TPS to address existing Blockchain deficiencies.
DAG-based decentralized ledger provides scalability using parallel resource selection and Trust Scores. The higher a user’s Trust Score, the faster the approval time.
Smart contracts at COTI
COTI offers decentralized on-chain smart contracts for DAG, the first of its kind. All smart contracts are registered on the COTI Multi DAG cluster and are validated several times by various full nodes before being validated. In addition, COTI Multi DAG enables the creation of high-performance stablecoins, with the possibility of COTI smart contracts and multi-origin transactions.
Security at COTI
COTI; has established network security mechanisms to monitor, detect and defend against potential attacks. An example of such a mechanism is the Double Spending Prevention (DSP) mechanism of COTI. COTI also introduces new protocols to handle disputes that may arise during shipping. Using an arbitration service disputes the provided resolution.
The COTI network uses a transparent and fair compensation model. Full nodes collect all the fees. The COTI network receives a portion of the fees collected by full nodes to support infrastructure technologies such as “Double Spending Nodes” and “Trust Score Servers.” When the network is created, a portion of all produced COTIs is set aside as Reserve Funds to payout. Therefore, the network fee reaches zero during the transaction. The decrease in costs is due to its decentralized nature. Each node receives a cost, and the nodes are cost determiners. Some nodes may charge a higher fee if they provide a good service. Some nodes might cost less or not at all. The costs set by the nodes must be fair, public, and in line with rules. The network has defined a cap fee, but not a minimum one.
What makes COTI unique?
What makes COTI unique is COTI’s platform. This platform allows companies to effortlessly build advanced fintech products and save time, data, and money. A COTI pay can handle any payment, either online or offline. This issue includes crypto and stablecoins, credit cards, and even local currencies. It has built-in finance connected to the white label payment network that helps gain interest on deposits and loans. Traditional payment systems cost both merchants and customers billions of dollars annually. Thus, the white-label payment network is a global payment network for users and merchants who freely transact with digital wallets, coins, and more.
COTI is also the world’s first platform optimized for creating fixed-price coins. As a result, the user might deliver stable coins and have control over their money and their data.
How many COTI (COTI) Coins are in circulation?
COTI (COTI) has a maximum of 2,000,000,000 COTI coins.
How to keep the COTI Network secure?
The COTI wallet is based on the React Native Framework and provides cross-platform functionality and portability. COTI wallet requires user credentials and is paired with a 2FA login to establish a connection with the node administrator. This issue means that all messages are verified, and fraud or manipulation is impossible within this system.