Introduction
Hi dears, another interesting project is being started. First of all, for who missed previous entry, what's a cryptocurrency? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.
All this racket of cryptomoney has been increasing exponentially, however, most people know nothing about how blockchain technology works, what a smart contract is and how it could be used. For this very reason, I will first of all carefully introduce this type of block chain technology.
Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, paypal, etc.). The blockchain is the technological basis for all cryptomontages, whether Bitcoin, Ethereum, Hyperledger, etc.
An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agree. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.
After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
For this reason, the project I am going to present you is Currency Of The Internet, the alternative of digital currency to traditional payment systems such as Visa, Mastercard and PayPal services.
Presentation
As I said before, Currency Of The Internet (COTI) (https://coti.io/) is a FinTech company that has developed a base protocol, known as the Trustchain™, in order to be the digital currency alternative to traditional payment systems like Visa, Mastercard and PayPal.
Goals
The main objective of COTI Project is to be able to face the technical challenges that affect other existing cryptocurrencies and limit its massive adoption as a means of payment through consumer portfolios, commercial processing tools and a digital currency exchange service.
Benefits
With the integration of blockchain-based technology, COTI Platform offers one of the largest ranges of benefits in the world of ICOs:
- Better security and privacy payment network
- Buyer-seller protections
- Instant payments
- Simplicity in P2P payments
- Low to zero rates translate into higher profits
- Increase in cash flow due to the instantaneous liquidations
- Reduction of unnecessarily rejected transactions
- No need to give personal details to merchants
- Equitability in the chargeback mechanism
- Processing of micropayments
- Complete regulation of KYC and AML
Roadmap
Airdrop
The project gives the opportunity to earn Currency Of The Internet performing some social media tasks and doing simple steps from the bounty program explained into Bounty0x. Here (https://alpha.bounty0x.io/bounties/19) you can access to the link in order to see what are the conditions to become an early COTI contributor and start acquiring tokens.
Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (https://coti.io/en/files/COTI-technical-whitepaper.pdf?v=c382cb21068). You can also stay tuned in their official Telegram group (https://t.me/COTInetwork). I hope you liked the post and soon I'll send you new ones.
Extra details
Token: COTI
Platform: Ethereum
Type: ERC-20
ICO price: 1 COTI= 0,1 USD
Partners
Author Details
Telegram username: @clauming
Bounty0x username: adriaparcerisas
Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71