COTI Network: A Deep Dive into the Currency of the Internet
The COTI Network revolutionizes blockchain transactions and digital assets management, as it is engineered to provide a comprehensive, user-friendly, and efficient digital payment system that caters to the needs of both individual users and businesses.
With advanced technology and a long-term vision, COTI promises to play a significant role in shaping the future of online financial transactions.
What is COTI?
COTI, short for Currency of the Internet, is an advanced enterprise-grade blockchain built on a Directed Acyclic Graph (DAG) structure. The goal of COTI is to revolutionize payments and support the development of decentralized financial solutions like payment networks, stablecoins, remittance services, and more.
COTI can process over 100,000 transactions per second (TPS) with near-instant transaction finality, outperforming many other payment systems. This places COTI on par with next-generation blockchain solutions like Aptos, which can complete over 160,000 transactions in one second with sub-second finality.
Additionally, COTI provides a dispute resolution process to protect users from counterparty abuse, fraud, and mistakes. COTI eliminates intermediaries, offers easy-to-use tools for both users and merchants, and ensures top-tier security.
History and Development of COTI
COTI was established in 2017 by Shahaf Bar-Geffen, who holds a bachelor's degree in biotechnology and economics from Tel Aviv University. Initially, COTI aimed to build a decentralized payment system on the Ethereum network, but due to scalability issues, it developed its own blockchain protocol. He, like many others, was also faced with the blockchain trilemma.
COTI launched its Trustchain protocol in October 2018 and officially activated its mainnet in June 2019. In 2020, COTI introduced MultiDAG, which allows token issuance on a DAG infrastructure. In 2021, COTI launched bank accounts and debit cards while announcing plans to develop the Djed stablecoin for Cardano.
In November 2021, COTI released Mainnet 2.0, offering various financial features for enterprises. In 2022, COTI established the COTI Ecosystem Fund, investing in projects like WingRiders and AdaSwap.
By November 2022, Binance Pay added support for the COTI token, and COTI is currently backed by key industry partners such as Cardano and BlackEdge Capital, creating a solid foundation for future growth.
How Does COTI Work?
COTI operates on a special technology called DAG (Directed Acyclic Graph), which enables it to offer a wide range of features and services. Instead of using traditional transaction verification methods like Proof-of-Work (PoW) or Proof-of-Stake (PoS), COTI employs a new mechanism called Proof-of-Trust (PoT).
In the Proof-of-Trust system, validators are selected to verify transactions based on their trustworthiness. Each validator has a trust score calculated from their transaction history and payment statistics. If a validator has a high trust score, they will process transactions faster and with lower fees.
When a new transaction occurs on the COTI network, the Source Selection algorithm chooses two validators with the same trust score to handle that transaction. Validators with high trust scores will complete transactions quickly, while others will process them at a slightly slower rate. By allowing multiple validators to process transactions simultaneously, the COTI network can scale easily and efficiently without any issues.
What is the COTI token?
The COTI token is the native token of the COTI network, playing a crucial role in enabling the project's functionalities. Although it was launched around 7 years ago, the token only saw a significant price increase during the crypto boom in 2021.
COTI is a multichain-compatible token that allows users to easily bridge assets between different networks. It is compatible with the two most popular token standards: ERC-20 and BEP-20, enabling users to manage their funds without compromising the privacy and security of their transactional information.
The maximum supply of COTI tokens is 2 billion, and by eliminating energy-intensive mining processes, the COTI network contributes to environmental sustainability. Recently, the introduction of Garbled Circuits has enhanced transaction processing privacy, helping the project gain momentum in 2024. Notably, the price of COTI tokens doubled in February 2024.
Users can purchase COTI tokens on popular cryptocurrency exchange platforms like Bitget Wallet to take advantage of potential price growth in the future.
COTI Products and Services
COTI offers a diverse range of products and services tailored for both enterprises and individual users, including:
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COTI Pay: COTI Pay is a versatile payment solution that supports both cryptocurrency and fiat transactions, whether online or offline. It offers additional benefits such as business loans and interest on deposits. Integrated with COTI bank accounts and Visa cards, COTI Pay provides a comprehensive payment experience.
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COTI NFT Game: COTI NFT Game invites users to collect unique NFTs and compete for prizes worth over 2,000,000 COTI tokens. The game runs for four weeks each season, allowing participants to gather creative non-fungible tokens (NFTs) from COTI and SuperFarm. Collecting these NFTs opens up opportunities to win valuable rewards.
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Loyalty Networks: The COTI loyalty networks service provides businesses with a complete solution for developing and managing client loyalty programs. This service includes a branded wallet, easy integration, seamless payments, and more, helping businesses enhance customer loyalty and improve cash flow.
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Stablecoins: COTI enables merchants to create their own custom stablecoins, giving them control over their financial assets and data. Merchants can use any asset as a basis to adjust the stability of their tokens, allowing for greater flexibility and control.
Is COTI a Good Investment?
Unlike traditional blockchains, COTI is specifically designed for enterprises, focusing on providing "closed" and "centralized" solutions. This approach is pragmatic and robust, as decentralization is seen as the gold standard in Web3.
COTI has a clear vision: The needs of businesses take the top priority, offering stability and reliability that many companies are actively seeking. This focus could create numerous appealing investment opportunities in a constantly evolving market.
Furthermore, with its unique architecture, COTI is well-positioned for growth and expansion. They have a clear roadmap and a range of promising products, making it a noteworthy investment choice for those looking to participate in the rapidly developing cryptocurrency space.
Of course, as with any investment, thorough research and consultation with experts are essential. Given these attractive factors, COTI could be a potential investment opportunity that you won’t want to miss in your investment journey.
HODL Your COTI with Bitget Wallet
COTI Network is making significant strides in the digital payment space. With its advanced DAG technology and Proof-of-Trust mechanism, COTI offers users fast and secure transaction processing, catering to both businesses and individuals. The diverse range of products, such as COTI Pay, engaging NFT games, and loyalty networks, demonstrates its flexibility in meeting market demands.
Continuous innovations and strategic partnerships are opening up numerous growth opportunities for COTI in the future. Notably, owning COTI tokens through platforms like Bitget Wallet not only simplifies your investment management but also allows you to take advantage of the advanced features of a cutting-edge cryptocurrency wallet. With these benefits, using Bitget Wallet will be a smart choice to keep pace with COTI's growth and seize potential investment opportunities both now and in the future.
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