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About Coti (COTI)
Billing itself as the “currency of the Internet,” Coti is a decentralized payment network that allows merchants and consumers to exchange goods for cryptocurrency, stablecoins and traditional fiat currency.
The protocol is supported by a unique Directed Acyclic Graph (DAG) data structuring technology known as the Trustchain that’s capable of processing upwards of 100,000 transactions per second. According to Coti’s, Trustchain was developed as a base-layer technology on which other decentralized payment solutions can be built.
"The platform supports cross-chain interoperability and enables enterprises to build their own payment networks and stablecoins,"said.
The Trustchain is secured via a novel consensus mechanism called Proof-of-Trust (PoT) which is said to combine the speed and scalability of DAG with the security of a Proof-of-Work (PoW) framework.
COTI is the protocol’s native digital asset. It’s a payment token used to purchase tangible goods via the protocol’s native payment service, COTI Pay. The token is also used to pay transaction fees and can be staked to the protocol for an annual yield.
COTI Pay is a decentralized service that allows merchants to exchange their wares, without the need for an intermediary, for a wide range of monetary assets including cryptocurrencies, stablecoins or fiat currencies, the protocol’ssaid.
In this same vein, Coti also enables online merchants to create their own custom payment networks.
To increase network adoption, Coti developed its own loyalty system that rewards users with tokenized rewards.
Around the time that Coti was experiencing record price appreciation in late September of 2021, the project had launched a stablecoin, Djed, on Cardano, as well as a non-fungible token (NFT) game that appeared to be bringing new users into its ecosystem,said.
How is the price of COTI determined?
COTI’s price is partially determined by the token’s deflationary nature. There will only ever be 2 billion COTI produced, roughly half of which (1.05 billion) are already in circulation. Additional COTI will be doled out to node operators, merchants, and users that participate in Coti’s incentive program.
The platform kept 22% of the total token supply in reserve,. “It will be used to boost the growth and stability of the network,” BeInCrypto said. Additionally, at some point in the future, COTI holders may be able to purchase tokens released from the reserve.
Why does Coti have value?
The ability to purchase tangible goods with COTI via the network’s native payment platform would seem to represent a viable value proposition, considering the growing demand for payment services. If that growth continues, so too will demand for COTI. Its target audience is the fintech industry. “Many projects have not been able to solve the cross-border issues and other problems in the payment industry,” BeInCrypto said. “This is a huge market need.”
What are the main benefits of Coti?
- Coti says its native payment platform COTI Pay allows merchants to receive payment via crypto, fiat, stablecoin or their own native token.
- The platform’s native Trustchain is supported by a Directed Acyclic Graph (DAG) capable of processing 100,000 transactions per second. Coti emphasizes the system’s speed but is also quick to point out that in addition to being fast it is: simple; transparent; reliable; and scalable.
- COTI, the protocol’s native payment token, can be used to purchase physical goods via COTI Pay.
- Coti’s loyalty program rewards shoppers and merchants for using the platform.
- The platform has introduced bank accounts and VISA debit cards to offer a direct and transparent connection between the fiat space and the crypto world, BeInCrypto said.
- Cardano has invested in Coti, and this latter platform now accepts ADA Pay.
How to buy Coti (COTI)
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