COTI ICO Review
COTI is a digital currency and payment ecosystem, a network built to enable mass adoption of digital payment for ecommerce.View ICO Website
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COTI Token Sale
09/15/18 - 10/01/18 (44 days left)Whitepaper Website
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COTI GitHub Activity
Commits across all public GitHub repositories owned by COTI.
COTI ICO Review & Analysis
At its earliest stages, the blockchain and crypto space was heralded as an ecosystem that would provide better payment solutions for the world of ecommerce. However, some time on from the blockchain’s inception, there still isn’t a reliable digital payment system. COTI (Currency Of The Internet) is attempting to usher in proper adoption of digital currency in the mainstream.
COTI is the link between traditional and digital payment systems, taking the best features of each to create a solution that is both practical and effective.
COTI’s ecosystem has several key features:
- Near instant transactions with their DAG-based structure.
- A trust scoring engine, which assigns network participants a “trust score”, based on factors such as transaction history, total aggregate balance and dispute history, improving the confidence participants have in transacting with one another. Additionally, trust scores impact the fee percentage paid by users for transactions, with higher trust scores incurring significantly lower fees.
- A mediation system to smoothly resolve disputes between parties on the network. The system employs data science, game theory, and a network of mediators to operate with optimum fairness and efficiency.
- Currency exchange features for participants to easily move between different fiat or digital currencies.
- Various applications and services to improve payment systems for all parties involved in the process. This includes a COTI multi-currency digital wallet and debit card to benefit consumers, and quick, low-fee, multi-currency payment processing integration for eCommerce merchants.
- The native COTI currency, initially used to facilitate payment of fees, mediation costs and incentivization for node operators. Ultimately it is designed to provide a stable medium of exchange, overtaking current fiat and digital currencies.
As part of COTI’s development, the team is working close with regulatory bodies and legal professionals to ensure both compliance with current regulations, and shaping of future regulatory framework; removing a large degree of volatility currently present in cryptocurrrency due to uncertain or changing legal status of coins.
The COTI token is designed to be a faster, more efficient payment method than currently available. COTI will allow 10,000 transactions per second; Visa is often at 4000 at the most.
COTI will initially be and ERC20 token, until COTI launches their mainnet, at which point they will be converted to be native to the COTI network.
Token sale has a hard cap of $30M, $10M of which has been raised in private pre-sales. 30% of token supply will be available via the public offering.
The Team & Roadmap
COTI is based out of Israel, featuring lead technical members with blockchain development experience, as well as several members with legal/regulatory backgrounds. There appears to be a good balance of experts from relevant fields.
Alpha net launch is planned for August 2018. Beta launch of the COTI wallet and exchange is planned for September 2018, and full launch in November. They plan to launch a test net in December 2019, and all going well achieve full launch in June 2019.
Framework for digital payments is clearly a market with significant potential. What makes this project promising is the detailed plan set out, and the fact that integration can be achieved slowly, by partnering with just a few merchants at a time. Multiple currency support for payment gateways and the COTI wallet means that full-scale integration is not necessarily required for the platform to continue growing. However we may not have an idea of the real capabilities of the platform until launch of the mainnet in 2019.View ICO Website