You can sign up to be a COTI mediator

Great news! Finally, you can sign up to be a COTI mediator!  Become a COTI mediator, help solve disputes and be rewarded in COTI’s coins.

Who is a mediator?

To bring about an era of zero friction commerce, the main goal of COTI is to provide the world with a faster, more cost-effective and more reliable way to pay. As an individual, you can help COTI realize this goal by becoming a mediator. Mediators will be compensated in COTI’s native currency for helping with the dispute resolution process. These rewards will be significant, as mediators will play a vital role in maintaining the integrity of the COTI network.

How to become one?

Individuals who would like to become mediators will be required to undergo an online assessment that will help determine if they have the aptitude to perform the mediation tasks at a high standard. Among other requirements, mediators will need to demonstrate satisfactory language proficiency.

 Apply now: https://coti.io/en/mediators.html

COTI is building out complete mediation and trust scoring systems to manage counter party risks and pave the way to friction-free commerce. COTI’s Mediation System serves to protect buyers and sellers in the event of disputes arising within the network, while the Trust Scoring Engine adds a layer of trust to all COTI transactions and disincentivizes behavior that is dishonest or unfair. COTI’s approach to mediation harnesses the power of a decentralized and distributed group of independent mediators to handle disputes.

Mediators work independently to validate real world information pertaining to transaction disputes, and then cast votes on a mediated outcome.

They are not able to communicate with one another and are unaware of how many other mediators are involved in resolving a case. In other words, counter party risk is eliminated by using profit-seeking individuals as trusted third parties to figure out which side failed to live up to the agreement.

Once a mediated decision has been reached, the system compensates the winning party, drawing capital from COTI’s reserve credit fund. Mediators are paid an amount of COTI’s native currency, C.O.T.I, for each instance in which they contribute successfully to reaching consensus, while the Trust Score Value for the losing party is driven down.

There are a number of similarities between Bitcoin miners and COTI’s mediator system: they both contribute to the healthy functioning of their networks. Miners and mediators both receive remuneration for their efforts; the greater their contribution to the network’s integrity, the greater the incentives.

 The COTI community is continuously growing at a rapid rate. If you have any questions, you are welcome to get in touch with us on Telegram or via e-mail. We will be providing further updates in the near future.