COTI plays a big role in improving transactions on the Internet

akhat (29)in #cryptocurrency • 6 years ago (edited)

Blockchain technologies and cryptocurrencies have proven to be a success full mechanism for managing payment transactions for different currencies such as bitcoin, ethereum and many others over several years; most of these currencies have enjoyed rapid growth in popular ocher and adoption. Frequently, a lot of persons who likened to cryptocurrencies to the internet have acquired different knowledgeable potentials in the same way the internet disrupts information accessibility. Though cryptocurrencies require interconnected group of system miners to actually perform more and more processes. Almost all cryptocurrencies area complex to maintain and lead to mass speculation.

COTI ( currency of the internet) next generation cryptocurrency that gives high transactions through put and insufficient fees, while being at ease to maintain and bringing non centralized configurations for service users who have to expect from payment platforms a dispute resolute mechanism.Also, COTI introduces a mediation service for disputed resolution gathered by a decentralized collective of highly trusted network participants who are tasked with solving disputes in transactions.
COTI provides DAG – based distributed ledger technologies showing signs of being particularly adapt at overcoming the prescription of intrinsic in the blockchain based payment networks. This is also known as the BASED LAYER Protocol(BLP). This BLP also deals with trust scores as the cluster reaches rapid consensus when confirming a transaction by using the COTI’s Trust Algorithm. This algorithm will be able to validate and confirm a maximum of over 10,000 transactions in every second. COTI also provides a safeguard( known as ready to use service) which will enable the reversal of transactions in the case of fraud.
COTI also provides a service a called the mediation service. This service creates a reserve for every single individual using the service to cover possible claims. This helps funds in the COTI’s nature currency to be managed effectively.Paying fees in the COTI is very easy and fast. The COTI interface relieves you of unnecessary stress. This is done by the using a transparent and equitable fee model. COTI uses decentralized servers which are ran by general users in the COTI network. It also provides a possible way for the merchant to run a personal full host along with a customized wallet , as this provides better experience for the users.

COTI also developed a new approach for achieving consensus goals between transaction parties that operates on a DAG based formation. This formation Is also known as the Trust Chain Algorithm. The algorithm performs transactions in the cluster which receives a Trust Score based on a combination of sending accounts historically behaving and informing the account owner.

COTI has put in place a very strong system which will enable it to be a very thriving project. It has put in order a completely decentralized ecosystem for online payment, from the third party players leaving safe and plain. This structure will be able to affect the base protocol, the future use of the COTI’s tokens, investments and more.
In conclusion, the steam line of COTI’s development bundles will have free space set aside where future information based on the development of smart contracts. This is why COTI is innovating.