COTI: The Ultimate Currency Of The Internet.

Blockchain technology continues to show immense advantages and benefits as more real-life uses are developed from time to time. A major use is a cryptocurrency, a currency built that can be used by anyone, anywhere and anytime around the world. This cryptocurrency nowadays is been used for transactions by a lot of users, therefore it requires faster transaction confirmation time as the transactions per second keep increasing.

But the case is not entirely so as the transaction confirmation time of cryptocurrencies we have now are not able to scale in time (lack scalability). As can be seen in Bitcoin and ethereum, the speed of transactions supposed to be way faster by now because they are among the most used right about now. Getting a faster transaction confirmation time for example on the Ethereum blockchain requires you increase the gas, which technically in an increase in transaction fees.

The issue of trust is also a challenge in the countined development and existence of cryptocurrency. Digital currencies are taking over the traditional payments method and it is important the issues of scalability and trust be tackled to ensure a safe cyberspace backed with extremely low cost and super fast transactions. Fortunately, this is exactly the plan of COTI.

INTRODUCING COTI
COTI (Currency Of The Internet) is a next-level cryptocurrency that is characterized by a high transaction throughput and lower fees. COTI plans to create a mass adoption of digital currency for payments, while been on top based on its various unique features. Amongst several features of COTI, some include;

• Faster Transaction - COTI achieves a high transaction speed by employing a directed acyclic graph (DAG) of transactions called the Cluster as opposed to a blockchain. This has been proven to improve performance.
• Lower Fees -The COTI network uses a transparent and equitable fee model. All fees are collected by the Full Nodes, which are decentralised servers run by general users in the COTI network. The fees of COTI would be set at 0 initially and would relatively increase with time, but the fees would still be low due to the decentralized nature of COTI.
• Trust - Anonymity has been known to breed maliciousness. Trust in the system is planned to be encouraged and ensured by using an innovative base layer protocol in the form of a directed acyclic graph-based ledger built from transactions connected through time by harnessing trust-based algorithms. What this means is that trust level are calculated by a machine learning algorithm from the activities of the user, the trust level can be built upon time and a high trust level user tend to get faster confirmation time. This would encourage users to be trustworthy.
• Highly secured system - COTI has built mechanisms to monitor, detect and defend against possible attacks, ensuring net- work security. An example of such a mechanism is COTI’s Double Spend Prevention (DSP) Nodes.
• Dispute Resolution - Protocols has been set in place by COTI to handle disputes that may arise through the help of a meditation service. A particular feat not possible with other cryptocurrencies.

TOKEN DETAILS
The COTI system has it's UTILITY token called the COTI Token, also to be used as the Currency for payments globally. This COTI currency is an ERC-20 Token built on the ethereum blockchain. It has a total supply of 2,000,000,000 COTI. Upon launching of COTI mainnet, the COTI ERC-20 Token would be replaced with COTI coins. The COTI tokens are to be allocated as follows;

COTI is undertaking a token sale ( 1 COTI = 0.1 USD ), funds released from this token sale would be spent as follows;

TEAM
The Team is made up of highly experienced individuals in the field of payment, cryptography, asset management and banking industries. They include experts who are well experienced in worldwide payment solutions ranging from Processing.com and Markets.com to Investec Bank, BlackRock and HSBC. Full details of the team can be seen on the website.

CONCLUSION
No doubt the use case of COTI is revolutionary as it completely breaks a new ground in the payments system with digital currency. I'm sure of a mass adoption of COTI and I believe the team can make this happen, staying true to the aims of COTI and making it truly a currency of the Internet.

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