What is COTI (COTI)?
COTI is a decentralized payment protocol, with its own token - COTI. With the Coti network, any business or even government can issue their own cryptocurrencies. Combining the advantages of distributed ledger technology (DLT) with the advantages of a traditional payment mechanism, Coti aims to become the de facto decentralized payment solution in the global commercial industry.
Its mission is to build a scalable global payment system. This is something that the earliest Proof of Work (PoW) cryptocurrencies, such as Bitcoin, cannot offer. Consequently, these cryptocurrencies are not suitable for global payments. On the other hand, transactions involving Coti become even faster as the user base increases, making Coti the best and most efficient solution to serve global commerce as a payment mechanism.
Coti can provide a faster, more reliable and cheaper payment mechanism. Trust plays a crucial role in Coti transactions. In the Coti network, an innovative algorithm known as the chain of trust algorithm provides a consensus between the buyer and the seller. Because Coti uses directed acyclic graph technology to build its data structure, all transactions in the Coti network are connected directly, not through blocks.
The Coti data structure based on the DAG (Directed Acyclic Graph) also provides much faster transactions.
Who are the COTI founders?
Coti, based in Gibraltar, was founded in May 2017 by David Assaraf. The company behind the project is the commercial company Coti Limited. The project received funding from the Cardano Ventures Fund in April 2021, and they invested $ 500,000 in COTI.
What makes COTI unique?
Because of the growth rate of the online payment industry, the world needs a system that can easily cope with this explosive growth. Coti is the answer to this problem, as it scales well and gets even better as the number of users increases. Coti transactions are faster, better, and cheaper, and both buyers and sellers can trust Coti.
The key features of the Coti Network are the concept of a trust rating and a rolling reserve for sellers. They allow Coti to compete with major players such as PayPal and Visa. In addition, using a directed acyclic graph instead of a blockchain to build their data structure proved to be a masterstroke for the project. This allowed Coti to process almost 10,000 transactions per second, making it better than most cryptocurrencies available today.
Coti surpasses even Visa when it comes to the ability to process the largest number of transactions per second.
How many COTI tokens (COTI) are in circulation?
The maximum offer of COTI is 461,668,422 tokens. In circulation is 868,672,118 COTI. 30% of the COTI token supply or 600 million COTI tokens were available for sale on private and public sale, while 440 million COTI tokens were reserved as a reserve for the development and stability of the Coti network.
At the current value of 0.306011 USD, and a 24-hour trading volume of 111,173,601 USD , the market capitalization of the asset is 265,823,224 USD.
How is the COTI network protected?
Coti has established safeguards for secure payments like PayPal, and has transaction speeds that surpass Visa. So, in terms of functions, Coti is a combination of PayPal and Visa.
The project has an infrastructure based on the DAG protocol and their Trustchain algorithm. Above this infrastructure layer is the service layer known as Coti X, offering KYC and compliance, interoperability exchange, buyer-seller protection, and stability structures.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.