COTI is a blockchain-based protocol that makes it possible to create digital currencies with many different features and benefits. The COTI network employs a new consensus technique that is scalable and safe. It also has a number of other interesting features, such as instant transactions, low fees, and support for more than one language.
The COTI team has made a number of applications and services that make it easy for businesses and people to use the COTI network. This includes a digital wallet, exchange, and payment platform. The company is also creating other applications that allow users to build their own digital currencies, in addition to a number of other advanced features.
COTI's core staff consists of 27 full-time professionals. This consists of engineers, mathematicians, economists, researchers, and fintech and banking industry experts. David Assaraf (Co-founder) is a member of the team and was formerly an examiner for the credit risk division of the Bank of Israel's banking supervision department. Shahaf Bar-Geffen is the chief executive officer and co-founder of WEB3, a renowned worldwide digital marketing company. Nir Haloani is the Chief Technology Officer and a pioneer in the fields of data compression, artificial intelligence, and machine learning. Yair Lavi is the chief financial officer (CFO). He has a degree in accounting and economics and an MBA from Tel Aviv University.
Despite the intense competition within the online payment sector, neither digital currencies nor traditional electronic payments have yet presented a comprehensive solution for the market. Traditional online payment systems like PayPal and Visa can handle numerous transactions quickly, but they have a lot of problems when it comes to transaction fees.
Mostly in transactions that involve multiple currencies and countries. On the other hand, digital currencies could be an alternative because they could make payments easier with more security and lower transaction fees. In practice, cryptocurrencies have scalability issues, low acceptance rates in the context of online payments, and extreme price volatility.
The COTI ecosystem addresses the aforementioned issues via end users, node operators, mediators, and merchants. The network was created with the intent of establishing a decentralized payment network that combines the advantages of traditional payment systems and digital currency.
Proof of Trust (PoT)- Proof of Trust (PoT) is the core consensus mechanism of the COTI network. It allows trust scores to be computed and assigned to network nodes, thus providing a decentralized Trust Score Infrastructure (TSI). The network uses the TSI to figure out which nodes are more reliable and should be given more weight when validating transactions. This ensures that transactions can only be validated by nodes with high trust scores. People with low trust scores are given less important roles, like approving transactions through staking or committing storage resources.
The MultiDAG layer- The COTI MultiDAG ecosystem is comparable to the Ethereum ecosystem. There are several different DAGs on the network, and each one serves a different purpose. They each have their own tokens and apps, but they all run on the same infrastructure to make the whole network more effective.
COTI can be used for online transactions through the COTI Pay gateway. COTI Pay enables retailers to accept COTI as a payment method on their website or online shop. Customers can use COTI to check out and pay in their preferred currency, including fiat currencies such as USD and EUR. Additionally, COTI Pay offers recurring billing, making it perfect for subscription-based companies.
COTI's technology can be utilized to streamline the payment processing sector by lowering costs and boosting efficiencies. Additionally, it can facilitate international payments, which are currently slow and costly. COTI can also be used to make peer-to-peer (P2P) payments fast and conveniently, in addition to streamlining B2B payments, which are typically slow and cumbersome. COTI can also handle payments for in-game purchases and other gaming-related transactions.
DATE NEWS/EVENTS IMPACT 07/05/2022 TerraUSD and LUNA both collapsed, and as a result, a number of crypto platforms folded in the aftermath -47% Decrease 21/09/2021 Coti's price soared to a new high after a series of partnerships, exchange listings, and a shift toward NFTs brought new investors to the project +75% Increase 25/08/2021 Coti surges following the Coinbase listing news +60% Increase 06/03/2021 The integration of Apple Pay and the release of Staking 3.0 drive the price of COTI to a new high +51% Increase
Coti successfully set up an all-in-one payment system that can handle modern problems in centralized finance, like high fees and slow transactions, while simplifying the DeFi experience for less technically savvy users. Coti established a new digital payment system that is scalable, quick, economical, and optimized for all digital payment types.
Coti's future looks bright because of its role as a bridge between centralized and decentralized finance. They possess the foundational technology to protect large-scale transactions using a trust-measuring algorithm, and their platform will permit governments and private businesses to issue digital currencies on their network.
COTI