Exchange COTI (COTI)

COTI (Currency of the Internet) is a cryptocurrency and blockchain platform designed to facilitate scalable and decentralized payments for businesses, merchants, and consumers. It aims to address the limitations of traditional payment systems, such as high fees, slow transaction times, and lack of trust.

Currency of the Internet was founded by a team of entrepreneurs and blockchain enthusiasts. The project was co-founded by Shahaf Bar-Geffen, Dr. Nir Haloani, and David Assaraf.

Shahaf Bar-Geffen, who currently serves as the CEO of COTI, has a background in finance and technology. He previously founded and served as the CEO of WEB3, a leading fintech company in Israel. Dr. Nir Haloani, the Chief Technology Officer (CTO) of COTI, has a strong technical background and expertise in software development. David Assaraf, the Chief Operating Officer (COO) of COTI, has experience in strategic planning and business development.

The founding of COTI dates back to 2017 when the team recognized the need for a scalable and efficient payment system for the digital age. They aimed to overcome the limitations of traditional payment networks and create a decentralized infrastructure that would enable fast, secure, and cost-effective transactions.

Since its inception, COTI has grown its team and community, attracting investors and partners to support its vision of revolutionizing digital payments. It has conducted successful fundraising campaigns and has made significant progress in developing its technology and expanding its ecosystem.

COTI utilizes a directed acyclic graph (DAG) infrastructure known as the Trustchain to enable fast and feeless transactions. The Trustchain combines elements of both blockchain and DAG technologies to provide a scalable and efficient payment network. It achieves consensus through a combination of proof-of-trust (PoT) and proof-of-stake (PoS) mechanisms.

PoT is a reputation-based algorithm that determines the trustworthiness of network participants, known as Trust Score Agents (TSAs). TSAs are selected based on their reputation, performance history, and stake in the network. They play a crucial role in the consensus process by validating transactions and maintaining the integrity of the network.

To achieve consensus, the Trustchain protocol combines the trust scores from multiple TSAs and applies a weighted voting mechanism. The weight of each TSA's vote is determined by their reputation and stake in the network. This weighted voting system ensures that more trusted and reliable participants have a greater influence on the consensus outcome.

One of the key features of COTI is its decentralized mediation system, which aims to provide buyer-seller protections and dispute resolution without the need for traditional intermediaries. This system uses smart contracts and reputation-based algorithms to ensure fair and secure transactions.

COTI also offers a suite of tools and services for businesses, including a digital wallet, merchant services, and a currency exchange. These tools enable businesses to integrate COTI's payment infrastructure into their existing systems, making it easier to accept digital payments.

The COTI ecosystem relies on an active and engaged community of users, developers, and partners. Community members contribute to the growth of the ecosystem by participating in network activities, promoting adoption, and providing feedback and suggestions for improvement

The native cryptocurrency of the COTI network is also called COTI. It serves as a medium of exchange within the platform and can be used for transaction fees, staking, participating in the network consensus, and other utility purposes. The COTI coin operates on three mainnets: Trustchain, Ethereum, and BNB Chain. The token has a total supply of 2 billion COTI and as of the end of June 2023, the circulating supply is 1,204,830,117 coins. 

Average Fees on the COTI Network

The COTI network employs a transparent and fair fee model where all fees are gathered by Full Nodes. These Full Nodes are operated by the COTI community and play a vital role in the network. The collected fees serve as the foundation for rewarding stakers within the ecosystem.

Network Fees are determined by Trust Score Nodes using payment data. These fees are calculated based on the Trust Score of the payment originator. For standard payments, the Merchant is the payment originator, while for remittances or general transfers, the Sender takes on that role.

As for the transaction fee, it can vary within 0.1%-0.2%. The withdrawal and the deposit fee depend on the platform used. 

COTI Token Wallets

COTI tokens can be stored in various compatible wallets that support the Ethereum blockchain, including MetaMask, MyEtherWallet, Trust Wallet, Ledger, Trezor, Guarda, Coinomi, Atomic Wallet, and Exodus.