One of the coins that recently came onto my radar is COTI (Currency Of The Internet).
With a very bullish looking TA and fundamentals that seem very promising, it is a coin that I started accumulating and this is what prompted me to share it with you.

As you probably know, every fortnight I send out my crypto newsletter where share my current market analysis with my email subscribers (if you are not on that list, make sure you join with this link and never miss my crypto updates).
In my previous newsletter I listed COTI as one of the coins with a good potential of booming very soon and promised to share more details about it. In fact, that email was sent at the beginning of this month and the coin has already gained around 30% and that’s only the start of its bull run as far as I can tell.

cotiCurrently the coin stands at number 296 by marketcap, its price in usd is 0.0197 and by all means I see it as really undervalued. I expect to see it at least double its price in no time.

However, this post is not meant as a financial advice or ‘buy signal’ but rather, a starting point for your research into this project prior to making a decision about investing in it or not.

Here’s what we know about this project.

COTI is a decentralized, high performance platform optimized for creating digital payment networks and stable coins. It can be used by merchants, payment service providers and financial organizations who need to create their own payment networks.

It has been long anticipated for cryptocurrencies to significantly alter the online payment landscape. To accomplish this, it is necessary for cryptocurrencies to be user-friendly, convenient and highly scalable.
Several blockchain based technologies have been created to tackle the challenges posed by attempting to provide high transaction throughput while remaining inexpensive, but these have been met with little success.
Another challenge faced is the lack of trust between unknown parties, which leads to countless chargebacks and transaction cancellations.
COTI, Currency Of The Internet, solves these challenges by using an innovative base-layer protocol in the form of a directed acyclic graph-based ledger, built from transactions connected through time, by harnessing trust-based algorithms.
Trust should be based on a combination of the network participant‘s historical behaviour data and objective information about them. COTI takes this into consideration, calculating trust using a unique machine-learning algorithm. Trust is used in the Trustchain Algorithm to validate and confirm transactions faster. Trust chains grow as new transactions attach to two prior transactions which have similar degrees of trust as themselves. This results in an innovative consensus-based confirmation mechanism, where every user is incentivised to have a high level of trust while engaging in trust-building behaviour due to the benefits associated with having a high level of trust (i.e. faster confirmation times). COTI has built mechanisms to monitor, detect and defend against possible attacks, ensuring network security. An example of such a mechanism is COTI’s Double Spend Prevention (DSP) Nodes. COTI also introduces novel protocols to address disputes that may arise when sending transactions, a much required feature which is not possible with other cryptocurrencies. Dispute resolution is achieved by the use of an Arbitration Service. This service takes advantage of the principles of game theory to ensure a fair outcome in the case of a dispute and votes to determine which of the two disputing parties is right.

As the white paper states: “Our vision of COTI is to empower users to freely exchange value as simply as information is exchanged on the Internet. To achieve this, we are developing the Trustchain Protocol based on a directed acyclic graph (DAG) distributed ledger, which creates a scalable blockless protocol that can be utilised by any industry that needs high throughput and trust to operate. COTI is uniquely positioned to provide the infrastructure needed for industries requiring immense scalability, in addition to an arbitration mechanism to resolve disputes, fraud (e.g. double spending) and errors. COTI also introduces a MultiDAG structure and high-performance smart contracts, which provide a multitude of tools for enterprises, merchants, governments, developers and stable coin issuers.”

More details about COTI and regular updates you will find on their official Medium Blog page or you can also find them on Twitter.

Where to buy and trade COTI?

The two exchanges where I trade this coin are Binance and Kucoin Exchange. There are a couple other platforms that support it but these two have the biggest volume traded so it makes perfect sense to stick to them.

coti-markets

You can buy COTI either with bitcoin (BTC) or tether (USDT) – a stablecoin pegged to the US dollar which most exchanges use. You will have to be a member of Binance or Kucoin Exchange in order to do that, so make sure you sign up first. You can refer to this post for guidance on how to use Binance or this post for my Kucoin tutorial. Generally speaking, Binance is the one with the highest liquidity, so this should be your first choice but that is entirely up to you.


Other posts you might like:

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Buying Crypto with credit card: ZERO FEES

Earn Bitcoin as cashback on your shopping

2 thoughts on “COTI – what is it and how to buy it

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