COTI (Currency Of The Internet)-Protocol to solve payment challenges of today

INTRODUCTION
The aims of addressing technical challenges plaguing other existing cryptocurrencies and limiting their mass adoption as means of payment includes consumer wallets, merchant processing tools and a digital currency exchange facility has been brought under control by COTI.

WHAT IS COTI PLATFORM
COTI is a payment structure for transactions which is supported by a traditional digital currency to solve challenges plaguing the world today. By combining the best of traditional payments with the best of distributed ledger technology, COTI aims to set the standard for how payments should work in the digital currency era.

COTI’s ecosystem
of applications and services, currently under development, will include consumer wallets, merchant processing tools and a digital currency exchange facility. COTI’s ecosystem will be fueled by its native
digital currency, the COTI token (abbreviated as XCT).

COTI SOLUTIONS

incorporate the best of traditional payments systems and the best of blockchain technologies, and will offer the fastest, easiest, most cost-effective and most trusted way to pay.

CHALLENGES COTI WILL ADDRESS

Payment systems are not keeping pace with
e-commerce. Traditional payment systems like Visa and Mastercard experience numerous shortcomings – from high fees to low approval rates. They also fail to account for the underbanked population, which amounts to 2 billion people around the globe without access to financial services and banks.

On the other end of the spectrum, digital
currencies like Bitcoin have faced severe
network congestion, giving rise to scalability
issues, higher fees and slower settlement
times.

SOLUTION COTI PLATFORM WILL PROVIDE

A digital currency that is built for payments. COTI not only built a digital currency, but an entire digital payment ecosystem. COTI’s DAG-based consensus model, Trust Scoring Engine, Mediation System, currency exchange and decentralised governance are all hallmarks to the functioning of the COTI network.
The payments network was designed to take
over where traditional payment systems left
off, namely with instantaneous transfers, low-to-zero fees and cost effective buyer-seller protections. This is a major advantage for consumers and merchants alike as compared to traditional banking, credit cards and P2P platforms.

TECHNOLOGY
Distributed ledger technology that outpaces
current cryptocurrency standards
In DAG-based systems like COTI, greater
network usage leads to improved scalability.
This creates a positive correlation between
the number of network users and the rate at which transactions are confirmed. The creation an extra safety net in the form of a Trust Scoring Engine and Mediation System aimed to address trust issues between
parties that do not know each other and may never transact again. Users are incentivised with low-to-zero fees, fast confirmation times and high Trust Scores as a reward for their honest, trustworthy conduct. The protocol features a decentralized system that reaches consensus on disputes using crowdsourced mediators. Just as Bitcoin miners receive Bitcoin for their efforts, COTI’s mediators are rewarded with COTI’s native currency. Disputes are resolved in a fair, fast and cost effective manner.

TEAM
COTI's team includes top management and R&D talent, veterans of the financial industry and blockchain experts. Our team includes Steven Heilbron (former CEO of Investec Bank UK), Dr. Matthew McBrady (former CIO of Blackrock), the founders of Processing.com and early investors
in Twitter, Square, Coinbase, Ripple.

VERDICT
COTI is very active on all the usual social media platforms, so their marketing and sales teams seem to be working well. There’s Reddit with 425 readers. Facebook with 8,000 followers. Twitter, looking strong
with 11,800 followers. Medium has only 551 followers, but looks very active. Similar to a very active Steemit, with 41 post and just 80 followers. Telegram is 23k strong.
Bitcon Talk has 32 pages. There are also 6 bounties active with over 12k submissions on Bounty0x.
The COTI team is also very busy traveling and attending conferences. 16 in total between the end of February and mid May. This is good, as the potential investors can meet the people behind the tokens face-to-
face.

CONCLUSION
The consumer-merchants payments industry is estimated to be a two trillion USD market however, it has been monopolised by Visa and MasterCard for the past 40 years. Nowadays, each transaction goes through 6-8 middlemen, each collecting a fee and potentially being a point of failure.

COTI aims to address such shortcomings by
combining the best of traditional payment
methods with the best of traditional currencies. COTI network users can expect low-to-zero fees, full buyer-seller protections, a robust Trust Scoring Engine and decentralised Mediation System.

For more information:

Official website: https://coti.io/

White paper: https://coti.io/files/COTI-technical-whitepaper.pdf

Telegram: https://t.me/COTInetwork

Facebook: https: // www. facebook.com/COTInetwork/

Steemit: https://steemit.com/@cotinetwork