COTI : Provides the Decentralized Payment Networks

COTI : Provides the Decentralized Payment Networks

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December 4, 2018 by XNews Editor 5
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COTI is the world’s first blockchain protocol optimized for decentralized payments, designed for use by merchants, payment dApps and stable coin issuers.
COTI Provides the Decentralized Payment Networks

COTI is the world’s first blockchain protocol optimized for decentralized payments, designed for use by merchants, governments, payment dApps and stable coin issuers. COTI Pay, our first app, already boasts a network of 5,000 merchants and 80,000 users.

COTI provides an end-to-end white label solution designed for use by:

  • Enterprises

Enterprises can explore new business models by offering payment networks to customers and absorbing market share from Visa, Mastercard and PayPal.

  • Decentralized Payment Network

COTI provides a protocol optimized towards decentralized payment networks so companies can focus on key business aspects instead of infrastructure.

  • Stable Coins

COTI supplies the infrastructure and needed features tailored for stable coins, including scalability, high speed and near zero fees.

  • Developers

COTI is the ideal solution for developers who require a high throughput protocol with DAG benefits.

COTI’s Platform

COTI’s platform combines layers of infrastructure, services and applications to support payment applications, stable coins and enterprise solutions.

Trustchain

At the core of COTI’s infrastructure lies the Trustchain, a proprietary consensus algorithm based on machine learning, which dramatically decreases transaction costs and increases processing speed by assigning trust scores to transactions and clustering it in chains.

The Trustchain lies on a multi-DAG (directed acyclic graph) data structure, which works in tandem to drive up scalability, processing over tens of thousands of transactions per second (TPS). DAG is the most suitable infrastructure for payments due to its scalability and low transaction costs.

Our technology stands to revolutionize crypto adoption by becoming the base layer upon which future decentralized solutions are built.

Trustchain Key Innovations

  • Proof Of Trust(POT)

The COTI PoT hashing algorithm consists of multiple hashing algorithms operating in chain fashion with the ordering dependent on the last 16 bytes of the hash of the previous block.

  • Trust Score Consensus

COTI has developed a new approach to achieving consensus between transacting parties operating on a DAG-based data structure by using Trust Scores. The Cluster achieves scalability through its use of parallel source selection and transaction confirmations, as well as its use of COTI Trust Scores.

  • Arbitration Service

COTI offers a ready to use buyer-seller protection service. Users can chargeback a transaction in cases of fraud or any other dispute related to deals settled through the COTI payment system.

  • Double Spend Prevention (DSP) Nodes

Transactions require the signature of a Double Spend Prevention (DSP) Node before they can be considered fully confirmed, while any detected double-spending attempts are flagged and refused.

Services

  • Cotix

COTI-X is a currency exchange and gateway to the COTI network. It serves as an enabler of cross-currency support in fiat and cryptocurrencies while providing security, liquidity and price stability for tokens on the network.

  • Buyer-Seller Protections

COTI has developed a new approach to achieving consensus between transacting parties operating on a DAG-based data structure by using Trust Scores. The Cluster achieves scalability through its use of parallel source selection and transaction confirmations, as well as its use of COTI Trust Scores.

  • Cotipay

COTI Pay is the first internally developed application on the COTI platform to utilize a fiat-pegged stablecoin, the COTI-DIME. It targets both e-commerce and POS payments and is equipped to initially process tens of thousands of TPS with virtually no price volatility.
COTI Pay also provides fully customized white label wallets for consumers and merchants.

Team Experience

The COTI team is comprised of individuals with proven experience in the payments, cryptography and financial services industries. The core team is supported by internationally recognised advisors including experts in asset management, banking, marketing and blockchain.

COTI’s team members have been hand-picked from leading companies, such as IBM, Ripple, Blackrock, HSBC, Investec Bank UK and Plus500 amongst many others.

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