COTI Token Sale

Ambitiously positioning itself as “Currency Of The Internet”, COTI puts efforts to create a decentralized scalable payment network to give a friendly boost to the global e-commerce. An idea behind the project is to promote the widespread adoption of payments done with electronic currencies.

Current payments systems (Visa, MasterCard, and other of their kind) fail to keep pace with e-commerce and have a number of disadvantages, including high fees and an approval speed. Digital currencies are also imperfect with their ever-increasing scalability issues, too high transactional fees, slow settlement times, and omnipresent consumer/merchant frauds.

To achieve their objective of creating a leading payment solution for global electronic transactions, COTI is going to develop a comprehensive ecosystem that will consist of the following components:

The Cluster. It is a native distributed ledger of COTI based on a DAG data structure (DAG stands for directed acyclic graph) and relates to transactions. Such a DAG approach ensures that COTI’s network scalability will only improve with greater network usage, positively influencing the rate of the confirmation of transactions. In the Cluster, responsibilities are distributed to different nodes which are run by operators. These nodes include Full Nodes, Double Spend Prevention (DSP) Nodes, and History Nodes.

The Trust Scoring Mechanism. This mechanism calculates the reputation of COTI network participants on the basis of their behavior inside the system, contribution to the network, payment statistics, and general data. Trust scores are necessary to validate transactions. Collectively, Trust scores form Trust chains to ensure an effective transaction consensus and validation. The higher the Trust score is – the lower fee a transacting party pays and vice versa.

Native currency. COTI coins will be the fuel of the platform and used for payments, mediator stakes/payouts (mediators are required to hold COTI coins to be able to mediate), merchant rolling reserve funds, node operators incentives, and transactional fees.

Own currency exchange will enable cross-currency payments and smooth currency transfers while promoting COTI’s native currency.

Decentralized governance. COTI’s governance model on the base of the Futarchy methodology will provide voting rights for the coin holders to decide on the platform core changes and future development.

COTI will develop a range of applications and services encompassing both fiat and electronic currencies to connect merchants, consumers, and mediators on a single platform and enable P2P and merchant payments alike. The main offerings include:

Multi-currency wallet that will support various payment use cases.
Debit cards directly associated with users’ COTI wallets.
Processing tools will enable e-merchants to accept payments from COTI wallets.
Hedging services to let e-merchants be less dependent on near-term currency fluctuations.
Unfortunately, no beta-versions of COTI exist now. Important prototypes will come not earlier than the Q4 of 2018 when we can expect a beta release of the consumer wallet, as well as betas of Full Nodes, the Double Spend Prevention Node, History Nodes, Trust Score algorithm, and the Testnet.

Meet COTI’s Team
A team supporting the COTI project consists of veterans in the sphere of the payment solutions development, cryptography, blockchain, asset management, marketing, and finance. The team is quite large (34 collaborators including advisors and backers), so we will highlight only its core.

Shahaf Bar-Geffen is the chief executive officer of COTI. Holding a BSc degree in Biotech and Economics from Tel Aviv University, he also led the WEB3 Company to its astonishing success in the digital media.

Dr. Nir Haloani works as the chief technical officer at COTI because he is very competent in the questions of data compression, machine learning, and artificial intelligence with its Master Inventor title for being an author of 13 patents in these spheres, a BSc degree in computer science and mathematics from Tel Aviv University, and a Ph.D. in applied mathematics from Bar-Ilan University.

Erol Hallufgil is responsible for research and software engineering with his extensive experience in the software development for fintech companies. He boasts a Master’s Degree in Mathematics from Israel Technion.

Official Website: https://coti.io/
Telegram: https://t.me/COTInetwork
Twitter: https://twitter.com/COTInetwork
Facebook: https://www.facebook.com/COTInetwork