COTI (currency of the Internet) is the world’s first blockchain protocol made for making
decentralised payments. Just like any other blockchain network’s inherent digital currencies, for
instance, Ether for Ethereum, its native token is COTI.
In the world of cryptocurrency exchanges, the COTI network is a cutting-edge and efficient
decentralised payment system that combines distributed ledger technology (DLT) and
conventional payment technology. The combined power of these technologies makes it
possible for COTI to help companies, online retailers, and even governments create their own
cryptocurrencies, such as CBDC (Central Bank Digital Currency), which is issued by central
banks. Let’s take a look at COTI in more detail.
What is COTI?
The COTI platform was created to enable an inexpensive and instant way of making
transactions. This network uses the Trust Chain Algorithm, which is an inventive consensus
algorithm that establishes solidarity between the buyer and seller of the digital assets on the
COTI’s operation is primarily focused on instituting a highly scalable global payments system,
which other top cryptocurrencies like Bitcoin cannot offer as they run on validation consensus
such as Proof Of Work (PoW). With the number of users rising, the transactions of
cryptocurrencies that use POS or PoW consensus are being reduced, making these digital assets
inapt for global payments. However, transactions through the COTI platform are much faster,
even with a wide user base. It can attain 10,000 transactions per second juxtaposed to the
blockchain-oriented data structures that can only achieve up to triple digital transactions per
How does COTI operate?
Before delving into how COTI works, we first need to understand its segments. They are as
COTI operates on a directed acrylic graph algorithm, known as the cluster as per the network.
Any transaction in the COTI network is approved after being validated by the prior transaction.
The COTI network can be accessed via full nodes. They are in charge of generating the
transactions in the cluster and validating them with proof of work. Furthermore, these full
nodes also gather the fees and send them to the network pool.
Double Spending Prevention Nodes (DSP)
As their names imply, these nodes keep a record of the most recent transactions, such as the
COTI price, allowing the DSP node to make sure that no transactions are double spent within
the COTI network. The DSP node permits the user to deposit money and join the COTI network
as a DSP node.
To make it easy to access the account details, the past cluster details are recorded in the history
Trust Score Nodes
These nodes have the authority to store the KYC status and the participant’s trust scores. By
depositing the COTI tokens, anyone can become a trust score node.
What is the COTI coin used for?
As mentioned earlier, COTI is a platform for others to make coins as well as its native
governance tokens. They are the primary asset for transaction staking and fees. The COTI coin
can be used in several ways, such as being used on its trust chain network or as an ERC-20
token on the Ethereum network. Not to mention, there is also a BEP-2 version of the coin
accessible on the Binance crypto exchange. The holders of the COTI coin are also able to
convert their share of coins between the three different coin versions as enabled by the COTI
To wrap it up, the COTI network is consistently working towards establishing partnerships with
companies all over the world that are highly reputed in the crypto-asset industry, like
CardWallet and Cardano. Moreover, since COTI prices are highly dynamic, they offer investors
high rewards at high risks. If you are looking to invest in this coin, you can buy it from one of the
best cryptocurrency wallets in India, i.e., WazirX.