A Closer Look at COTI Blockchain

05/17/2022By: C, Fiona

If you are not familiar with blockchain technology, it may be a challenge to understand what COTI is and what to do. This guide will break down the basics of blockchain technology and explain how COTI can use it to create a better payment system. We will also discuss some benefits of COTI compared with traditional payment methods.

Cryptocurrency is one of the most popular investment and trading tools in the 21st century. You may have just heard that BTC is the first cryptocurrency or the most famous currency you have just started. But today there are thousands of different cryptocurrencies, each with its own characteristics and purposes. So, what is COTI blockchain?

COTI means “currency of the Internet”. It is a decentralized network that allows instant point-to-point transactions without intermediaries or third parties. COTI uses a unique consensus algorithm called trustchaintm, which is designed to be scalable, secure and efficient.

So far, COTI has been very successful. It has a growing community of users and developers, and its platform is being used by some of the world’s largest companies. If you are interested in learning more about COTI or investing in it, please do research and consult your financial advisor.


What is  COTI?

COTI is a blockchain based protocol that can create a digital currency with a wide range of functions and advantages. COTI network uses a unique consensus algorithm to achieve high scalability and security. It also offers other innovative features, such as instant trading, low cost and multilingual support.

The COTI team has developed various applications and services to enable enterprises and individuals to easily use the COTI network. These include digital wallets, exchanges and payment platforms. The team is also developing other applications that enable users to create their digital currencies and other innovative features.

COTI aims to provide enterprises and individuals with a simple and effective way to create their digital currency. The team is committed to providing a high level of security and scalability.

Team Behind COTI

The COTI team consists of experienced professionals from different fields, including blockchain technology, cryptography and software engineering. The team is headquartered in Israel and has offices in the United States, the United Kingdom and Singapore.The mission of the team is to provide a better way to pay and be paid.

Some famous members of the team include.

  • Ida Lindemann – founder and CEO of COTI blockchain. Ida has more than 15 years of experience in the payment industry. She is a serial entrepreneur who has founded many companies in the field of payment.
  • Nate whitehill – chief product officer. Nate has more than 20 years of experience in product management and software development. He has held senior positions in American Express (NYSE: AXP), PayPal Holdings (NASDAQ: pypl) and square (NYSE: SQ).
  • Ethan Brown – chief technology officer. Ethan is a software engineer with more than 20 years of experience in the payment industry. He was the CTO of Braintree, a company owned by PayPal.

How Does COTI Work?

COTI platform uses a unique consensus algorithm called trust chain. Trust chain is the combination of three different consensus mechanisms. Proof of work (POW), proof of acquisition (POS), and proof of trust (pot). POW is used to ensure network security and prevent repeated consumption. POS is used to reach a consensus on the order of transactions. Pot is used to assess the credibility of participants in the network.

COTI uses a directed acyclic graph (DAG) instead of a traditional blockchain. Dag is a data structure that enables more efficient and scalable transactions. Through COTI, each transaction is confirmed by the previous two transactions. This creates a more secure and efficient trust network than traditional blockchain.

COTI platform also has its own local currency, namely COTI currency. COTI coins are used to pay for transactions on the Internet. Online transactions are fast and cheap. The fee is paid in COTI currency to encourage participants to confirm the transaction.

The COTI blockchain is designed to be scalable and handle a large number of transactions. The platform can process up to 10000 transactions per second. It is also user-friendly. The platform has a built-in wallet and an easy-to-use interface. It also provides various functions, such as instant payment, 0% fee and merchant solution.

Proof of Trust (pot)

Proof of trust (pot) is a unique consensus algorithm and the core of COTI network. It can calculate the trust score and assign it to the nodes in the network, so as to establish a decentralized trust score infrastructure (TSI). The network uses TSI to determine which nodes are more trustworthy and should give more weight in transaction verification. This ensures that only nodes with high trust scores can verify transactions. Nodes with low trust are downgraded to less important roles, such as approving transactions through nails or submitting storage resources.

The pot algorithm is designed to be cross resistant, which means that it cannot be manipulated by any single entity or group of entities. Instead, it relies on the collective judgment of all network participants for proper operation. Therefore, COTI network has strong adaptability to attacks and ensures that consensus can always be reached even in the case of network interruption.

The pot algorithm is also designed to be scalable, which means that it can support a large number of transactions per second (TPS) without affecting security or decentralization. COTI’s trust score infrastructure (TSI) is a key component of trust Internet, which is COTI’s vision for a new trust based economy driven by blockchain technology.

TSI enables trust scores to be calculated and distributed to users, merchants, service providers and other entities in the network. The network uses these trust scores to determine which entities are more trustworthy and should give more weight in transaction verification. This ensures that only entities with high trust scores can verify transactions, while entities with low trust scores are downgraded to less important roles, such as approving transactions by pledging or promising storage resources.

TSI is also used to calculate dispute settlement fees, which are paid to the entity that resolves the dispute between the parties.

The COTI network is driven by the native COTI currency and is used to pay transaction fees and dispute settlement fees. COTI also has its own wallet, namely COTI payment wallet, which enables users to store, send and receive COTI coins. COTI network has been online and is currently being used by some businesses and service providers. The ultimate goal of COTI is to provide a trust based infrastructure for the global economy.

Multidag Layer

Multidag layer is a data structure that organizes data into multiple directed acyclic graphs (DAGs). The multidag layer can be used to represent many types of data, including.

  • Data with multiple dependencies.
  • Data with multiple levels of granularity.
  • Data with multiple versions.

The multidag layer is composed of a group of DAGs, and each DAG represents a data dependency graph. The multidag layer allows data to be organized into multiple DAGs, and each DAG can be queried and updated independently.

The multi DAG structure allows each transaction to have its own unique path in the DAG, which eliminates the need for blocks and makes the transaction complete almost instantaneously. This also enables the network to process an unlimited number of transactions per second.

COTI Coin

COTI currency is a multi-purpose cryptocurrency optimized for payment. It provides instant, low-cost and secure transactions. COTI also supports smart contracts, which are designed to serve as the basis for building decentralized applications.

COTI currency is listed on many cryptocurrency exchanges and can be traded with other cryptocurrencies. When the project was launched, the total supply was 2 billion COTI tokens, and it was impossible to destroy tokens or create tokens through mining.

30% of its public and subsequent COTI tokens are sold. Private sales provide COTI tokens to investors who wish to allocate at least $50000 at a price of $0.08. The public sale took place in June 2019. COTI was sold at the price of US $0.065, raising more than US $3 million for the project.

After the launch, the token will be officially launched in May 2019; 15% of the tokens are allocated to team members to reward their early participation, and 10% to COTI’s consultants. The remaining 45% of the tokens are reserved for incentives and working capital reserves.

COTI’s Currency Exchange

COTI’s currency exchange is a revolutionary new block chain technology, which can realize real-time, safe and free global trading. With innovative trustchain ™ Consensus algorithm, COTI provides a scalable, stable and user-friendly payment solution.

Trust coin (TCH), another native currency of COTI, is used to promote transactions and power the network. Trust coins are mined through nails, which requires users to lock their TCH to verify transactions on the network. In return for their contribution to the network, the gambler is rewarded in the form of a new TCH.

COTI trust chain is a revolutionary consensus algorithm, which can realize real-time, safe and free global transactions. With the support of innovative DAG (directed acyclic graph) data structure, trust chain provides a scalable, stable and user-friendly payment solution. The consensus algorithm of trust chain is based on a trust based system, which allows users to verify transactions on the network with their TCH. In return for their contribution to the network, shareholders are rewarded in the form of new TCH.

COTI Use Cases

COTI can be used for online payment through COTI pay gateway. COTI pay allows businesses to accept COTI as a payment method on their websites or online stores. Customers can use COTI to check out and pay in their favorite currencies, including legal currencies such as US dollars or euros. COTI payment also supports circular billing, making it an ideal choice for subscription enterprises.

COTI’s technology can be used to simplify the payment processing industry by reducing costs and improving efficiency. In addition, it can promote cross-border payment, which is slow and expensive at present. COTI can also be used to make peer-to-peer (P2P) payments quickly and easily, as well as simplify the usually slow and cumbersome B2B payments. In game purchases and other game related payments can also be promoted through COTI.

Benefits of COTI

COTI blockchain provides merchants with many benefits, including.

  • Reduced costs. COTI’s network effect and unique consensus algorithm mean that compared with the traditional payment network, the transaction cost of merchants is reduced.
  • Improve security. Compared with traditional payment networks, COTI’s decentralized network and fraud detection capabilities provide merchants with higher security.
  • Quick payment. COTI’s fast payment processing means that merchants can receive payment quickly without waiting for bank approval or other delays.
  • Global coverage. Coty’s global influence means that businesses can accept payments from anywhere in the world without worrying about cross-border fees or exchange rates.
  • Flexible payment. COTI’s flexible payment options allow merchants to choose the payment method they want to accept, including legal tender, cryptocurrency or both.
  • Easy to integrate. Coty’s easy-to-use API and SDK enable merchants to simply integrate Coty into their existing systems and start accepting payments immediately.
    support. Coty’s professional support team helps businesses solve any problems around the clock. Coty’s benefits to merchants make it the best choice for enterprises of all sizes. Contact us today to learn more about how COTI can help your business grow.

Conclusion

COTI is a blockchain technology, which can realize trust free and secure digital transactions. It provides an extensible, decentralized and user-friendly platform for enterprises and individuals to send and receive payments. COTI’s unique features include its trustchain consensus algorithm, which allows it to process thousands of transactions per second, and its DAG based data structure, which makes it more scalable than traditional blockchains. COTI also has a built-in tokenomics system to encourage users to participate in the network and help stabilize the price of COTI currency.