What is COTI?

Sep 13, 2022
3 min read

This blog post will cover:

  • What is COTI?
  • Where did COTI come from?
  • What are the advantages of COTI?
  • What are the disadvantages of COTI?
  • How to buy COTI on SimpleSwap?

What is COTI?

COTI (stands for the Currency of The Internet) aims to create a scalable decentralized payment network for global trade. In its system, COTI combined a trust mechanism, a multi-currency wallet, a crypto exchange, and a decentralized mediation system.
Initially, the COTI cryptocurrency was issued according to the ERC 20 standard. Nowadays there is a COTI coin that serves as a means of exchange. The use of coins in the COTI network is profitable due to low tariffs and high transaction speeds.

The COTI Cross Chain Bridge is an important milestone for the entire blockchain sphere. It allows marking an important big step towards implementing the concept of a fully interconnected Internet of values. COTI's Cross Chain Bridge provides seamless integration with almost any existing blockchain with added value support for proprietary registry features such as scalability, stacking, management, and more. So the COTI Cross Chain Bridge links its own mainnet to other mainnets. For example, now the platform is fully connected to the Ethereum blockchain and has the capabilities and development plans needed to scale.

Furthermore, the COTI blockchain, called Cluster, is based on so-called directed acyclic graphs (DAG). The high throughput of DAG-based networks is based on simultaneous asynchronous transaction verification. In simple terms, this means that each confirmed transaction must include confirmations of two previous transactions at once, and this relationship is not always linear.

Where did COTI come from?

COTI was founded back in early 2017. The COTI Protocol combines layers of infrastructure, services, and applications to create a complete payment solution that is modular and fully customizable.

Experts from a wide range of working areas run the project. There are specialists with experience in mathematics and information technology, Economics and Finance, including those who worked for giants such as IBM, HSBC, and Credit Suisse. This project has 17 official advisors, who represent investment banks and venture funds. The most notable figure on this list is Greg Kidd, who has supported many successful projects, including Ripple Labs, Coinbase, Square, and Twitter.

What are the advantages of COTI?

  • Scalability
    COTI can process more than 100,000 transactions per second.
  • Simplicity
    COTI tools for users and merchants are impeccable and extremely easy to use.
  • Buyer-seller protection
    COTI introduces the first-ever dispute resolution system that protects users from errors, fraud, and abuse by contractors.
  • Economic efficiency
    COTI eliminates intermediaries and eliminates the need for expensive mining.

What are the disadvantages of COTI?

  • The youth of the project
    It still has to prove its value and hold on to their success.

How to buy COTI on SimpleSwap?

Thank you for your interest in this cryptocurrency. To purchase COTI, you are welcome to visit our SimpleSwap service and follow the instructions below:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select COTI in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Enter the Recipient's Address. COTI will be sent to this address. Be careful and make sure you use the correct address.
  • Check all the information you have entered. If everything is correct click the Exchange button.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

Now you have the basic information about COTI. We wish your crypto future to be bright!

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