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What is COTI? Learn what COTI is in one minute
COTI's decentralized payment network leverages MultiDAG architecture, Trustchain blockchain, and supports multiple fiat currencies, enabling scalable, secure, and private financial services.
Oct 26, 2024 at 01:55 am
What is COTI?
- Definition: Currency of the Internet (COTI) is a blockchain network designed for decentralized payments and financial services. It seeks to address the challenges of scalability, security, and privacy in the digital currency realm.
Core Features:
- MultiDAG Architecture: COTI leverages Directed Acyclic Graph (DAG) technology, enabling multiple independent chains to operate in parallel, enhancing transaction throughput.
- Trustchain: A trustless, high-performance blockchain specifically optimized for COTI's payment platform. It allows for instant and low-cost transactions.
- Multi-Currency Node: Supports multiple fiat currencies and stablecoins, facilitating cross-border transactions and multicurrency payment processing.
Applications: COTI's platform powers a range of financial services, including:
- Universal Payment Network: A decentralized payment gateway for online and mobile commerce, enabling seamless fiat-to-crypto transactions.
- Stablecoin Issuance: Infrastructure for businesses and organizations to create and manage their own stablecoins, backed by real-world assets.
- Payment Kiosks: Physical kiosks where users can exchange physical cash for cryptocurrencies or stablecoins.
- Corporate Banking: Provides banking solutions tailored to the needs of small and medium-sized enterprises, including cross-border payments and trade finance.
- COTI Token (COTI): The native token of the COTI network, COTI serves as a medium of exchange, staking, and governance. Token holders can participate in network consensus, validate transactions, and influence platform development decisions.
Benefits:
- Scalability: COTI's DAG architecture enables exceptional transaction throughput, handling millions of transactions per second.
- Security: The Trustchain blockchain ensures transaction immutability and fraud prevention through cryptographic security measures.
- Privacy: COTI offers optional privacy features that conceal transaction details while maintaining accountability.
- Cross-Border Transactions: Facilitates seamless and cost-effective cross-border payments, reducing barriers to global commerce.
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