What is COTI (COTI)?

COTI is a decentralized payment transaction network and a cryptocurrency that combines traditional payment methods and digital currencies. The platform provides a payment infrastructure that is scalable, simple, cost-effective, instant, stable, and secure. COTI also provides a dispute resolution system for buyers and sellers to safeguard against errors, fraud, and abuse. To save time, data, and money, the companies can leverage the digital payment solutions that COTI offers, such as COTI Pay, stablecoins, payment network, etc., to save time, data, and money.

According to the whitepaper, as a solution to high throughput and lack of trust between unknown parties, COTI uses an innovative base-layer protocol and a trust-based algorithm. The trust-based algorithm that COTI uses to validate and confirm transactions faster is the Trustchain. The protocol is a unique combination of the proof-of-work (PoW) algorithm, proof of trust. This consensus algorithm works by assigning trust scores and clustering the transactions in chains. Further, the Trustchain lies on a directed acyclic graph (DAG) data structure that processes over 100,000 transactions per second (TPS). The trust scores, which are fundamental to the algorithm, combine the historical behavior data and the objective information of a participant. In essence, it enables processing and confirming the transactions of trusted senders faster. The COTI team believes that a seller with an average record should incur higher fees and that a seller with an excellent track record should pay zero processing fees.

COTI, which is also a cryptocurrency, is built on the base-layer protocol. The utility of the  token arises from its usage in the network, and COTI provides a wide range of applications. The coin is used as a means of payment and staking in the COTI ecosystem. Additionally, to run the COTI network infrastructure, a network fee has to be deposited or staked in COTI. In the future, COTI aims to bring in a decentralized governance structure that enables COTI token holders to vote on community decisions.

What Is the History of COTI (COTI)?

Developed in March 2017, the COTI Group is registered in Gibraltar. Its leadership team is an experienced group of individuals from the cryptography, payments, and financial service domains. Shahaf Bar-Geffen is the CEO and cofounder of COTI and was the former CEO in Web3. The chief technology officer of COTI, Dr. Nir Haloani, is an innovator and has 14 patents under his name.

How to Stake COTI (COTI)

The staking model of COTI is a means to generate a steady income from the process of transaction approval. The COTI staking model is built as a competitor structure to the DeFi income models. In contrast to the other staking models, the COTI token creates a natural hedge price between the transaction denoted in traditional currencies and node operator fees represented as a percentage. In March 2021, the COTI community introduced an improved staking program, Staking 3.0. This new version extends the amount of COTI coins that can be staked significantly on full nodes. A staker, on average, can stake 25% to 33% more in the updated version.

Furthermore, COTI compensates mediators in COTI coins for helping the platform's goals, including the dispute resolution process. Mediators are individuals who maintain the integrity of the network, which the COTI community trains.

How Many COTI Tokens (COTI) Are There in Supply?

There is a total supply of 2,000,000,000 COTI.

How to Buy COTI Tokens (COTI)

The COTI token can be purchased through Coinbase's centralized exchange. Currently, Coinbase supports only COTI tokens running on the Ethereum blockchain (ERC20).