Exchange COTI

COTI stands for Currency Of The Internet, is a cryptocurrency project that aims to create a digital currency alternative to traditional payment systems. It focuses on providing a scalable and decentralized payment network that is designed to be user-friendly.

COTI (Currency Of The Internet) was launched by the COTI Foundation in 2017. The COTI project was founded by Shahaf Bar-Geffen, Dr. Nir Haloani, and David Assaraf. Shahaf is the CEO of COTI. He has a background in fintech and has held leadership positions in various technology companies.

Dr. Haloani is the CTO (Chief Technology Officer) of COTI. He brings expertise in blockchain technology and has been involved in the development of the COTI platform. David Assaraf is the VP of Business Development at COTI. He has experience in business strategy and development.

COTI was launched to address challenges in the traditional financial system and provide an alternative, decentralized payment system for the Internet. The project aims to offer scalability, low transaction costs, and a user-friendly experience for digital transactions. The use of DAG technology and the Trust Score System are key components of COTI's approach to achieving these goals.

Trustchain is a type of distributed ledger technology similar to blockchain but with some differences in structure. It is a Directed Acyclic Graph (DAG) ledger that serves as the underlying technology for the COTI platform.  Unlike a linear chain of blocks, a DAG allows for a more scalable and flexible structure. Each transaction is linked to multiple previous transactions, forming a graph rather than a linear chain. DAG allows for parallel processing of transactions, potentially increasing the network's capacity to handle a larger number of transactions simultaneously.

The Trust Score System is integrated into the Trustchain to evaluate the trustworthiness of network participants. This system considers various factors, including transaction history, behavior, and other relevant data, to assign a trust score to users. This score influences a participant's role in the network and may impact transaction fees and rewards.

COTI emphasizes scalability, aiming to provide a scalable and efficient platform for digital transactions. The use of DAG is intended to improve scalability compared to traditional blockchain structures. COTI includes a Trust Score System to evaluate the trustworthiness of network participants. This system takes into account various factors, including transaction history and behavior.

The Trustchain seamlessly integrates features from both blockchain and Directed Acyclic Graph (DAG) technologies, creating a payment network that excels in scalability and efficiency. This innovative network attains consensus through a hybrid approach, combining elements of proof-of-trust (PoT) and proof-of-stake (PoS) mechanisms.

The PoT mechanism operates on a reputation-based algorithm, evaluating the trustworthiness of network participants identified as Trust Score Agents (TSAs). These TSAs are selected based on criteria such as their reputation, historical performance, and stake within the network. In the consensus process, TSAs play a pivotal role by validating transactions and upholding the network's integrity.

The consensus within the Trustchain protocol is achieved by amalgamating trust scores from multiple TSAs and applying a weighted voting mechanism. The weight of each TSA's vote is influenced by their reputation and stake in the network. Through this nuanced voting system, participants with higher trust levels and greater reliability exert a more significant influence on the consensus outcome. This approach ensures a robust and secure consensus mechanism within the Trustchain network.

COTI supports the creation and execution of smart contracts. Smart contracts are self-executing contracts with the terms of the agreement directly written into code. The primary focus of COTI is on creating a decentralized payment network that enables fast and low-cost transactions.

COTI Pay is designed to offer a user-friendly and efficient solution for making digital transactions, providing various features to enhance the overall payment experience. COTI Pay includes a digital wallet that allows users to store and manage their COTI tokens and potentially other supported cryptocurrencies. Users can access their wallets through the COTI Pay application. The platform is designed with a focus on usability and a user-friendly interface to make it accessible for individuals, merchants, and businesses. The goal is to provide a smooth and intuitive experience for both sending and receiving digital payments.

COTI is a versatile platform empowering companies to effortlessly develop sophisticated fintech products, resulting in significant savings in time, data, and costs. This comprehensive payment solution caters to various payment types, encompassing both online and offline transactions. Notably, COTI Pay handles a diverse range of payments, including cryptocurrencies, stablecoins, credit cards, and native coins.

The platform boasts built-in financing options, enabling users to earn interest on both deposits and loans. Additionally, COTI Pay seamlessly integrates with the white-label payment network. This network facilitates global transactions for users and merchants within a digital wallet, offering a streamlined experience for handling coins and more.

In contrast to traditional payment systems that incur substantial costs for merchants and customers, the white-label payment network serves as a global payment solution. Users and merchants can freely engage in transactions across various digital assets, further enhancing the efficiency of the platform.

One distinctive feature of COTI is its status as the world's first platform optimized for the creation of stable-priced coins. This innovation empowers users to issue their own stablecoin, providing them with unparalleled control over both their financial assets and personal data. In essence, COTI revolutionizes the financial landscape by offering a comprehensive and user-centric platform for digital transactions and stable coin creation.

COTI employs a hash table as its foundational data structure, utilizing a chaining approach. This design not only ensures the security of the blockchain but also safeguards the computing power and privacy of users. The implementation of COTI protocols enhances overall system security, providing a robust environment for both buyers and sellers.

Within the COTI ecosystem, stringent cybersecurity measures are in place, focusing on data integrity and confidentiality. This commitment to security underscores COTI's dedication to creating a safe and trustworthy platform for its users.

The COTI wallet is constructed on the React Native Framework, offering cross-platform functionality and portability. To access the wallet, user credentials are required, and a two-factor authentication (2FA) login process is employed. This connection is established with the node manager. Subsequent communications within the system necessitate the wallet's seed, ensuring that all messages are validated and preventing any possibility of spoofing or manipulation. This multi-layered security approach contributes to the integrity and reliability of the COTI wallet system.

CTI is the native utility token of the COTI network. It is used for various purposes within the ecosystem, including transaction fees and participating in the network's governance.  (COTI) has a maximum supply of 2,000,000,000 COTI coins. As of January 1, 2024, the circulating supply is 1,294,041,704 tokens. 

The Average Fees on the COTI 

The fee structure within the COTI network is both transparent and equitable, with all fees directed to Full Nodes operated by the COTI community. These Full Nodes play a pivotal role in sustaining the network and serve as the core mechanism for rewarding stakers in the ecosystem.

Trust Score Nodes determine Network Fees by analyzing payment data, with fees calculated based on the Trust Score of the payment originator. In the case of standard payments, the Merchant assumes the role of the payment originator, while for remittances or general transfers, the Sender takes on this responsibility.

Regarding transaction fees, they typically fall within the range of 0.1% to 0.2%. Withdrawal and deposit fees, however, are contingent on the specific platform used for these actions.

The COTI Token Wallets 

The COTI tokens can be held in numerous available crypto wallets, including MetaMask, MyEtherWallet, Trust Wallet, Ledger, Trezor, Guarda, Coinomi, Atomic Wallet, and Exodus.