Blockchain technology adoption in the mainstream is mainly aimed at improving the efficiency of transactions amongst other benefits. Even with numerous advantages over the traditional network, current blockchain is struggling with the issue of limited scaling and need for technical skills. That’s why the adoption of the technology has been slow. Fortunately, we have blockchain-based protocols addressing these problems. Proof of COTI is one of them.
What is COTI?
COTI (Currency Of The Internet) is a blockchain powered platform that is aiming at modernizing the payment system. According to the whitepaper, COTI is payment transaction network that is crafted from the scratch to address payment challenges both in the tradition networks and the current blockchain technology. With the completion of the project, it will have overhauled and streamlined the entire digital payment system.
How Does COTI Works?
The platform decentralizes the payment system by the use blockchain to help eliminate intermediaries and thus reduce the cost of making payments. The protocol also uses smart contracts to improve the transparency in the payment system. What makes COTI unique from the rest of the blockchain-based payment platforms is the incorporation of the best of the traditional payment system and the blockchain technology. That is how the company has been able to offer faster, most cost-effective and most trusted way to pay.
COTI is the native digital currency or token that facilitates transactions on the COTI network. It is the currency that fuels the interactions between consumers and the merchants on the COTI ecosystem. That means you need to have the tokens to transact the platform.
The ICO will start on June 15, 2018, and end on July 15, 2018, with the ICO price being $0.1 per one COTI. The company is planning to have a total token supply of 2 billion, but only 30% of the tokens will be available for sale.
10% -team, bounties, and early backers
50% -future development of the project by the project developers.
40% -advisor sale both private and public
COTI team has an elaborate roadmap and how they will realize the project. Already, they are done with wallet processing with trust scoring prototype and list of COTI on third-party exchanges being slated for the Q2 2018. The entire project is expected to come into completion by 2020. However, the project is in its early stages, and thus the roadmap could change with time.
COTI is equipped with features that will change the payment for the better. It is an ambitious project that will change the entire payment system upon completion. It is a project to watch and worth investing in.
Check out his Video for more information on COTI: https://www.youtube.com/watch?v=eLFjOXco7Po