Today I will be introducing a new platform that is capable of disrupting the payment system. This is a new an revolutionary platform. I will be writing about the platform and it advantages. First let me make reference to what this platform is solving.

• Slow transactions rate
• High transaction fee
• Mediation Service
• Trust

Blockchain and cryptocurrencies are regular terms we hear about in our everyday life on TV news local and international. This innovation is starting to gain ground globally. Since the creation of the first cryptocurrency(Bitcoin) in 2009 many more cryptocurrency have been created solving life challenges in one way or the way through it application e.g the health sector, businesses etc. Bitcoin was first created to surpass the traditional centralized payment system due to it vulnerability to government manipulating and printing more fiat at their will furthermore it was created to be more safe and transparent whereby transactions can be tracked and middlemen exempted, that is making transactions directly between parties with no intermediaries. Transaction time rates are now slower and the fees are exponentially increasing compared to the early years of the adoption of cryptocurrencies transactions were way faster and fees were low. This is the short coming of cryptocurrencies due to it mass adoption the network is unable to handle the number of transactions efficiently causing transactions to be slow and fee increasing but also there is still the issue of Trust between transacting parties.

Have you thought of a cryptocurrency which gives you the optimum speed and less to zero fees for your transactions? Have you thought of a cryptocurrency that actually gives you assurance of a transacting party I mean trust?Well your thoughts are over. I present to a revolutionary payment platform a true alternative to traditional payment systems like Visa, Mastercard and PayPal

What is COTI (Currency Of The Internet)?

COTI is the next-generation cryptocurrency that achieves high transaction throughput and low fees, while being easy to manage and providing decentralised structures for the services users. COTI is powered by a directed acrylic graph (DAG) in transactions called Clusters which enables it to achieve high transactions throughout.

Let's look more into the technical aspect of COTI

The Base Layer Protocol:

COTI employs the directed acrylic graph (DAG) based technology as it core and base layer protocol due to the nature and capabilities of DAG-based networks. The capability of overcoming scalability and able to manage large transactions data which is a major flaw of the blockchain technology scalability. Due to COTI purpose as a globally used digital currency for payment DAG technologies is the best solution because as network usage increases so does the scalability of the newtork improves.

Mediation Service:

Users having technical issues before or after transaction and wishes to make complaints now have an opportunity to report such dispute and get it resolved asap. COTI offers a ready-to-use service ever available for users to revert to in cases of fraud or technical issue in transaction while using the COTI network.

Fees:

COTI uses a reliable, transparent and fair fee model that favors both consumers and merchants. The fees are collected by Full Nodes whereby portion of these fees are received by the COTI network for improving infrastructurally technology such as Double Spend Prevention Nodes and Trust Score Servers.

The Trust Chain Algorithm:

Putting in consideration a challenging issue of Trust between users when transacting. Users need to be convinced of safety against fraud. COTI in return to be a global accepted payment medium adopted the DAG-based distributed ledger technology that involves the use of Trust Scores as the key mechanism by which new, unconfirmed transactions select prior transactions to validate. Each transaction in the Cluster receives a Trust Score based on a combination of the sending accounts historical behaviour and information about the account owner and the account's history increases as new transactions are created and successfully confirmed.
For more information partaining the technicalities of COTI network read the technical whitepaper

Benefits/Advantages Of COTI

1. Decentralisation
2. Scalability and instantaneity: The COTI network provides shift and fast transactions processing about 10,000 transactions per seconds
3. Reliability: The network operates a reliable and equitable model
4. Security: The network has put in place security measures such Double Spend Prevention Nodes and Trust Score Servers to fight against fraud and counterparty abuse.
5. Low-to-zero fees: COTI offers fees which are really little to zero for transactions.
6. Trust generative: the platform offers trust to it users by imploring Trust Score Servers and also higher transactions confirmation rate together with lower fees
7. Ease-of-use: The COTI is just user friendly and simple to use.

The Team

The COTI team comprises of experienced players on the field of decentralized platforms, and cryptocurrencies economy. All who are able and qualified. check out the team on the official website.

Learn more about the project:

Website
Whitepaper
ANN Thread
Telegram

Writer's Bounty0x Username: PhilMovs