COTI

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Discover COTI's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is COTI?

COTI (Currency Of The Internet) is an enterprise-grade fintech platform designed to facilitate efficient global commerce through a decentralized and scalable payments network. It uses a directed acyclic graph (DAG) infrastructure with a Proof of Trust consensus algorithm, enabling high transaction throughput and low fees. COTI aims to support both fiat and crypto payments, with a vision to build a secure, instant, and scalable payment system.

How is COTI used?

COTI (COTI) is a decentralized payment protocol that enables fast, secure, and low-cost transactions. It uses a unique consensus algorithm called Proof of Trust (PoT), which combines a directed acyclic graph (DAG) data structure with Proof of Work (PoW). This allows COTI to process up to 100,000 transactions per second, making it highly scalable and efficient for global commerce.

Key Features and Use Cases
  • Payment Mechanism: COTI allows businesses and governments to issue their own cryptocurrencies, providing a highly scalable global payments system. It leverages a DAG-based data structure, which makes transactions faster and more efficient than traditional blockchain-based systems.
  • Trust Chain Algorithm: This algorithm builds a consensus among buyers and sellers, ensuring trust-driven transactions. Each transaction receives a trust score, which determines the trustworthiness of the sending account.
  • COTI Pay: A flexible payment solution that can handle both crypto and fiat transactions, both online and offline. It offers benefits such as business loans and interest on deposits and is integrated with COTI bank accounts and Visa cards.
  • Stable Coins: COTI provides technology for merchants to create customized stable coins, giving them control over their money and data.
  • Loyalty Networks: COTI offers an end-to-end solution for client loyalty programs, boosting cash flow and providing a branded wallet, simple integration, and frictionless payments.
  • NFT Game: Users can collect NFTs and win prizes worth over 2,000,000 COTI tokens. The game is playable for four weeks out of every season.
  • Debit Cards: COTI offers debit cards directly linked to COTI wallets, allowing customers to make purchases from merchants who have not yet integrated with COTI.
  • Treasury: Users can deposit COTI and earn rewards for participating in the Treasury, an algorithmic and decentralized pool of COTI. The pool increases as fees are paid to the Treasury by the entire ecosystem.
Availability and Integration
  • Mainnets: COTI operates on three mainnets: Trustchain, Ethereum, and BNB Chain. Users can interoperate between these networks using the COTI Bridge.
  • Exchanges: COTI is available on various cryptocurrency exchanges, including Binance, where it can be traded and used in DeFi DApps.

Overall, COTI aims to revolutionize traditional finance by providing a fast, scalable, private, and inclusive payment ecosystem that empowers organizations to build their own financial products and services.

How do I store COTI?

To store COTI tokens, you have several wallet options:

  1. COTI Pay Viper Wallet: This is the native wallet of COTI, allowing you to hold tokens in the COTI network and stake them for returns.
  2. MetaMask: This wallet supports COTI as it is an ERC-20 token. You can add COTI to MetaMask like any other ERC-20 token, and it allows access to the Ethereum and Arbitrum chains.
  3. Trust Wallet: This wallet supports over 4.5 million assets, making it a good choice if you manage multiple crypto assets. It is also suitable for storing COTI tokens.
  4. Ledger: You can store ERC-20 COTI tokens on Ledger, although you cannot see the token in Ledger Live. You need to connect your Ledger to access the tokens.

Before choosing a wallet, consider factors such as security, convenience, features, and fees.

How to buy COTI?

To buy COTI (COTI) tokens, follow these steps:

  1. Choose a Cryptocurrency Exchange: Select a reputable exchange that supports COTI trading. Some popular options include Uphold, Kraken, Coinbase, Kriptomat, and KuCoin. Ensure the exchange is available in your region and compliant with local regulations.

  2. Create an Account: Sign up for an account on the chosen exchange. This typically involves providing personal details, verifying your email address, and setting up a password.

  3. Verify Your Identity: Complete the necessary identity verification steps, which may include uploading a photo ID and proof of address. This process helps prevent fraud and ensures compliance with anti-money laundering regulations.

  1. Add a Payment Method: Connect a payment method to your exchange account. Common options include debit cards, credit cards, bank transfers, and cryptocurrencies like Bitcoin (BTC). The available payment methods may vary depending on the exchange and your location.

  2. Deposit Funds: Add funds to your exchange account using your chosen payment method. The deposit process and fees will differ depending on the exchange and payment method.

  3. Buy COTI: Once your account is funded, navigate to the COTI trading page and enter the amount you want to purchase. Confirm the transaction, and the COTI tokens will be added to your exchange wallet.

  1. Store Your COTI: You can store your COTI tokens in your exchange wallet or transfer them to a non-custodial wallet for added security.

Remember to always follow the specific instructions provided by your chosen exchange, as the exact steps may vary slightly. Additionally, be aware of the risks involved in trading cryptocurrencies and ensure you understand the terms and fees associated with your transactions.

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History of COTI

COTI, or Currency Of The Internet, was created by Samuel Falkon and David Assaraf in 2016. They recognized the need for a secure, scalable, and instant payment system that could support both fiat and crypto payments. To execute this concept, they assembled a team of advisors and partners, including Shahaf Bar-Geffen, who became the company's Chief Executive Officer.

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How COTI works

COTI (Currency of the Internet) is a Layer 1 blockchain ecosystem designed specifically for payments. It operates on three mainnets: Trustchain (its native mainnet), Ethereum (as an ERC-20 token), and BNB Chain (both BEP-2 and BEP-20 versions). The COTI Bridge ensures interoperability across these networks, allowing token holders to swap seamlessly between them.

Consensus Algorithm and Data Structure

COTI does not rely on traditional Proof of Work (PoW) or Proof of Stake (PoS) for consensus. Instead, it uses a unique consensus algorithm called Proof of Trust (PoT), which combines a directed acyclic graph (DAG) data structure with PoW. This approach reduces transaction costs and increases throughput to up to 100,000 transactions per second (TPS).

Key Components
  • Trustchain: The foundational technology behind COTI, based on an agreement algorithm that relies on machine literacy. It reduces transaction costs and increases transaction speed.
  • MultiDAG: A data structure that helps achieve scalability by running multiple independent DAGs simultaneously, each serving different functions on the network.
  • Node Clusters: These clusters are crucial for the operation of the COTI ecosystem.
COTI Coin and Treasury

The native COTI coin is vital for network transaction fees and ecosystem operations. It incentivizes users due to its minimal transaction costs. The COTI Treasury is a reservoir where users can deposit COTI to earn rewards. All fees collected by the COTI ecosystem are channeled into the Treasury and distributed as rewards to users.

Payment Solutions

COTI offers various payment solutions, including:

  • COTI Pay VIPER Wallet: A sophisticated digital wallet tailored to enhance user experience with COTI, ensuring top-notch security and seamless transactions.
  • COTI Pay Business: A white-label solution that facilitates real-time transaction processing for businesses of all scales.
  • Djed Stablecoin: An overcollateralized stablecoin developed in conjunction with Cardano, backed by ADA and using SHEN as its reserve coin.
  • ADA Pay: A specialized payment system built on the Cardano blockchain, allowing merchants and charities to accept ADA as a payment method with instant settlements.
Partnerships and Use Cases

COTI has partnered with several enterprises, including a leading gaming company, to create tailored blockchain-powered payment solutions. It also integrates standard practices from traditional finance sectors into the blockchain ecosystem, focusing on use cases such as DeFi, finance, remittance, loyalty schemes, and cross-platform payments.

Future Developments

COTI is continuously evolving, with significant updates like the MultiDAG 2.0 hard fork and the upcoming COTI V2, which promises to be a privacy-centric Layer 2 on Ethereum with groundbreaking privacy technology.

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COTI's strengths

COTI (COTI) has several strengths that contribute to its potential success and value:

  1. Scalability: COTI can process over 100,000 transactions per second, making it highly scalable and suitable for global trade.

  2. Simplicity: The tools and services offered by COTI are designed to be user-friendly and easy to use for both merchants and users.

  3. Buyer-Seller Protection: COTI introduces a dispute resolution system that protects users from errors, fraud, and abuse by contractors, ensuring a secure and reliable payment environment.

  1. Economic Efficiency: By eliminating intermediaries and the need for expensive mining, COTI reduces costs and increases efficiency in transactions.

  2. Low Transaction Fees: The COTI token is incentivized due to its low transaction fees, making it an attractive choice for users.

  3. Multi-Chain Support: COTI operates on three mainnets: Trustchain, Ethereum, and BNB Chain, allowing for seamless integration and flexibility.

  1. Djed Stablecoin: COTI's collaboration with Cardano to develop the Djed stablecoin adds value to the ecosystem and provides a secured stablecoin powered by COTI.

  2. Treasury and Rewards: All fees collected by the COTI ecosystem are directed to the Treasury and distributed as rewards to users, creating a self-sustaining and incentivized system.

These strengths position COTI as a robust and efficient decentralized payment protocol with a wide range of benefits for users and merchants.

COTI's risks

COTI (COTI) is associated with several risks that investors should be aware of. These risks can be broadly categorized into systematic and unsystematic risks.

Systematic Risks

Systematic risks are those that affect the overall cryptocurrency market and cannot be diversified away. These risks include market movements and trends that impact the price of COTI. For instance, if the entire cryptocurrency market experiences a downturn, COTI's price will likely be affected as well.

Unsystematic Risks

Unsystematic risks, on the other hand, are specific to the COTI project and can be diversified by owning multiple digital assets with low correlation. These risks include events specific to COTI that can negatively impact its price. Examples of unsystematic risks include project-specific issues, regulatory changes, or security breaches that may affect COTI's value.

Volatility and Risk Scores

COTI has been characterized as a relatively high-risk investment due to its volatility. It has a high standard deviation, indicating that its price can fluctuate significantly. This volatility can result in large losses if the market moves against the investor. Additionally, COTI's risk score indicates that it is a relatively risky investment, although some assessments have categorized it as low risk.

Other Risks

COTI's treasury system also carries specific risks, such as deposit liquidation risks and health factors that need to be monitored to ensure the stability of the system.

Overall, investors considering COTI should carefully evaluate both the systematic and unsystematic risks associated with this cryptocurrency to make informed investment decisions.

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Did COTI raise funds?

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COTI’s team

  • Shahaf Bar-Geffen: CEO of COTI, also the Chairman of UNKJD Studios. (@shahafbg)
  • Dr. Nir Haloani: CTO of COTI.
  • Yair Lavi: Chief Strategy Officer of COTI.
  • Efrat Bar Lev: CMO of COTI.
  • Nir Arazi: COO of COTI.
  • Guy Mesika: Team member at COTI.
  • David Assaraf: Founder of COTI Group.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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