COTI

What is COTI?

COTI serves as a layer-1 blockchain ecosystem tailored for facilitating payments. Diverging from conventional blockchain models, COTI distinguishes itself by eschewing Proof of Work (PoW) and Proof of Stake (PoS) mechanisms for transaction validation. Instead, it embraces an innovative consensus algorithm known as Proof of Trust (PoT), which seamlessly integrates a directed acyclic graph (DAG) data structure with PoW. PoT demonstrates the capability to reduce transaction costs significantly while elevating throughput to an impressive 100,000 transactions per second (TPS).

At the core of this ecosystem is its native token, COTI, functioning across three distinct mainnets. COTI plays a pivotal role in covering transaction fees and offers the opportunity for staking, thereby enabling users to earn rewards from the Treasury. Furthermore, COTI, along with other cryptocurrencies, can be utilized for payments, including the option to make transactions using the COTI Visa debit card. With the advent of COTI MultiDAG 2.0, developers, merchants, and enterprises gain the capability to issue tokens inheriting Trustchain features. These features encompass scalability, heightened throughput, cost-effectiveness, and user-friendly payment tools such as COTI Pay Business.

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Recent Video Interview

Main points of the interview:

• COTI's security measures for cryptocurrency Gateway are nearing completion.
• Treasury's grace period shortened and tax integration system Coinly deployed.
• Jed stablecoin remains over-collateralized; misconceptions clarified.
• COTI pay business progresses with Enterprise client.

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How Does COTI Work?

As previously mentioned, the foundation of COTI lies in its mission to establish a decentralized payment network, empowering businesses to achieve optimal efficiency. The operational components encompass Trustchain, Multi DAG data structure, Node clusters, and Proof of Trust for consensus.

Trustchain serves as the fundamental technology underpinning the COTI ecosystem and its products. This technology revolves around a unique consensus algorithm rooted in machine learning. This innovation substantially diminishes transaction costs while enhancing transaction speed, associating trust scores with data and organizing them into chains.

According to the network's whitepaper, Trustchain is built on a multi-directed acyclic graph (DAG) data structure, diverging from the traditional blockchain model. Multi DAG, functioning more like a graph than a blockchain, is renowned for its scalability. In contrast to blockchain technology, Multi DAG acts as a data structuring tool, recording transactions atop one another, allowing for the simultaneous occurrence of multiple nodes.

In essence, the COTI platform integrates infrastructure, services, and network layers to craft a comprehensive and customizable payment solution.

What is the COTI Token?

The COTI coin serves as the native token within the COTI ecosystem, functioning as a DAG-based cryptocurrency with a total supply capped at 2 billion. Unlike traditional networks, COTI does not rely on PoW mining for network security. COTI operates across three distinct mainnets: Trustchain (its native mainnet), Ethereum (as an ERC-20 token used in DeFi DApps and traded on various crypto exchanges), and BNB Chain (available in both BEP-2 and BEP-20 versions).

COTI token holders benefit from the COTI Bridge, enabling interoperability across different networks (mainnets). Beyond its utility in settling ecosystem transactions, COTI can be staked in the COTI Treasury for participation in decentralized finance (DeFi) activities. The Treasury subsequently allocates COTI rewards to its users.

COTI Team Background

Established in June 2017, COTI has its corporate headquarters located on Line Wall Road in Gibraltar. The foundation of COTI rests upon a collective of seasoned professionals with diverse backgrounds, all bound together by a mutual passion for blockchain, decentralization, and privacy. The team comprises skilled individuals, including engineers, developers, bankers, and researchers, each bringing expertise from their respective industries. The CEO of COTI is Shahaf Bar-Geffen, and the co-founder is David Assaraf.

COTI Project Development

After over a year of preparations and development, and following a successful security audit, COTI is delighted to announce the official launch of Djed, the overcollateralized stablecoin on Cardano, on the mainnet. The highly anticipated public mainnet debut of Djed marks a significant milestone for COTI, the Cardano ecosystem, and the broader DeFi community. Serving as a decentralized open-source protocol, Djed is driven by the community, offering users the ability to hold, mint, and burn DJED and SHEN.

With more than 40 partnerships established to facilitate widespread adoption and proper utilization, DJED is poised to unlock numerous opportunities within the Cardano ecosystem, particularly in the realms of DeFi, Payments, and beyond.