COTI: Enhancing E-Commerce through provision of decentralized online payment system

INTRODUCTION
Accepting online bills has to turn out to be a popular exercise among all online groups as it is the way to gain right extent of sales and shoppers. The most famous form of fee is thru the credit score playing cards. About 80% to 90% of the sales occur through this mode of charge. With e-trade account, a business enterprise can turn out to be an internet store with legal permission. Then it is able to proceed to just accept a digital transfer of online funds made with a credit card. An excellent online payment system is a pillar of any online enterprise and ought to be speedy, clean to understand and need to no longer be infamous for the protection of the front. A protection aware purchaser will definitely be driven far from a shady searching layout or archaic layout of the charge gateway device.

When it involves making payments credit score cards and debit cards are famous types of online bills. The online payment processing enterprise has grown to be so evolved and dynamic that no service provider ought to easily sustain without adopting them in destiny. Customers are locating it tons less difficult to make online bills for which stores ought to collect the Business Payment Solutions. When a sale is made, these solutions fetch the information of transactions crafted from playing cards or other digital fee modes and robotically cause them to combine and flow into the accounting or ERP system of the business. This procedure rid of the want for getting into the payment transaction facts and reconciling the money owed and makes the automated posting of sale into the accounting software program. The entire technique saves the labour fee and time and eliminated the probability of human error as well.

However, those styles of online fee device have quite a few demanding situations and shortcomings that atimes hinders clean strolling of E-trade. These demanding situations are what COTI (Currency Of The Internet) crew of experts have come together to solve using an progressive base layer protocol in the form of a directed acyclic graph-based totally ledger built from transactions linked via time via harnessing trust-primarily based algorithms.

CHALLENGES OF ONLINE PAYMENT SYSTEMS THAT COTI IS HERE TO SOLVE

1. Fraud and chargebacks
2. Cross-border transactions
3. Card facts protection
   four. Multi-forex and fee strategies
4. Technical integration

Based on those and many greater inadequacies of on-line charge systems, COTI has advanced its technology the usage of the blockchain ecosystem in fixing those issues making on-line fee secure for each merchants and customers. The COTI comprehensive charge platform has some key features that assist remedy all the shortcomings of on-line charge systems. They are:

— Instantaneous remittance that utilises allotted ledger era inside the form of a DAG (directed acyclic graph) structure.
— An international Trust Scoring Engine, which mechanically assesses the interactions among customers and dealers through the years, assigning every network player a unique Trust Score. Trust Scores provide a numerical analysis of the corresponding fee that each player donate to the COTI community and are used to allocate community prices. This also helps the choice-making procedure through users and traders and abolishes the over-reliance on a single consolidated market for rankings.
— An intervention structure that settle disputes between transacting events and keeps the coherence of the network. A first of its type, the mechanism leverages facts technological know-how, recreation concept and an independent network of crowdsourced arbitrators to solve disagreement pretty and efficiently — without resulting to a massive increase in transaction prices.
— Currency interchanging incorporation that gives community individuals with a technique of transmitting impeccably between currencies — each fiat and virtual — by summating liquidity from inner and outside liquidity pools. The trade is augmented by an automated market-maker, which sustain truthful and orderly markets in a variety of currencies
— COTI is producing a retinue of collections and offerings to be able to provide clients, traders and crowdsourced arbitrators with impeccable connectivity to the COTI network. In the case of customers, the COTI wallet and debit card will make possible the comfy cache, transference, and interchanging of virtual and fiat currencies. In the case of merchants, COTI's processing programme will smooth the way the identification of payments in dispersal of fiat and digital currencies at the same time as remarkably lower operating fees. In the case of mediators, the staunch purchaser will authorize arbitrators to contribute to, and be remunerated for, the success decision of transaction variances.
TOKEN SUPPLY AND ALLOCATION

TOKEN SALE PRICING AND MECHANICS
• The token fee can be set at USD 0.1 according to COTI*.
• The token sale will consist of the personal and auction. The minimal contribution within the non-public sale is USD 50,000, or the equal in different currencies.
• COTI’s goal is to enable a huge base of network individuals to take part inside the token sale. As the total number of tokens available in the private sale may be capped, COTI cannot guarantee that each one prospective purchaser from the community might be able to accumulate their favored allocations in the course of the public sale.
• All of the token sale participants may be presented extra discounts primarily based on their lock-up choice (designated on page 5 of this record).
• Further records regarding timelines, discounts, KYC approaches, constrained nations and supported charge strategies could be made to be had on COTI’s internet site as the general public sale attracts nearer.
• ERC-20 tokens can be issued for the purpose of offering a legitimate document of tokens bought. Following the release of the COTI important net, the ERC-20 tokens can be converted into cash issued on the COTI community’s transaction ledger with or without an earlier note, at COTI’s sole discretion.
• The ERC-20 tokens could be issued following the release of COTI's alpha net and put up-listing in COTI's exchange (anticipated August 2018, however no later than the cease of September 2018).
• To similarly fund the development of the community, COTI might also on occasion initiate additional token sales from the reserve.

USE OF PROCEEDS

CONCLUSION
COTI is the Currency of the internet and as such for safer and quicker online payment and money transactions, merchants and customers should key into the COTI cryptocurrency platform. COTI also ensure security against fraud on the part of customers and merchants.
ROADMAP

TEAM

BOARD OF ADVISORS

For more details about COTI, visit:

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

Telegram: https://t.me/cotichannel

Medium: https://goo.gl/rfhmMp

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

LinkedIn: https://www.linkedin.com/company/coti-ltd/

Website: https://coti.io/en/terms.html

Author Bounty0x Username: adeyod

Bitcointalk Profile link: https://bitcointalk.org/index.php?action=profile;u=2182082;sa=summary

Author's email address: [email protected]

Author's wallet Address: 0x88290a269F8EE26CA6182e2aD42C3D40046E4DaC