COTI - a cryptocurrency for payments will be a revolution?

Low transaction costs, higher speed, debit card and many other amenities - this is what the ecosystem offers blockchain with the COTI cryptocurrency. Does it have a chance to mess up the market and make payments in cryptocurrencies stop being a curiosity for enthusiasts and become everyday life for everyone? We check.

We continue the series of the Forex Club portal, in which we analyze and describe the largest, most valued, most interesting, most developed, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for Coti, a blockchain ecosystem for payments.

How does Coti work?

Coti stands out from other blockchains. First of all, because it is not based on "traditional" systems Proof of Work (PoW) or Proof of Stake (PoS)to approve transactions. Instead, it uses a unique consensus algorithm: Proof of Trust (PoT). Thanks to it, it reduces transaction costs and increases throughput.

The entire system is designed to ensure fast and secure transactions, while guaranteeing the lowest possible fees. It's all thanks to the elimination of middlemen. The comprehensive system was built from the ground up and focuses on offering completely new, digital financial products.

It easily and quickly beat the major blockchains in this regard: Bitcoin (BTC) and Ethereum (ETH), which have always had scalability issues. Coti relies on its own Trustchain blockchain, which easily conducts 100 transactions. transactions per second (TPS), which is quite enough for the entire market and is unique in the world of cryptocurrencies. This is thanks to innovative solutions. Coit does not collect transactions into blocks, but processes them in the order they were added. The next transaction just needs to be combined with the two previous ones to gain final approval.

The system, of course, relies on validators that are selected based on their credibility. Constant evaluation and a full history of all transactions mean that today there is no possibility of any inaccuracies or delays. A better rating ensures faster transactions and lower fees. Therefore, it pays off for everyone to work on the quality of their activities, which translates into the quality of the entire network.

Create your own cryptocurrency with Coti

The system of this cryptocurrency also offers more functionalities for people, institutions and companies that are more familiar with blockchain technology. Through it, you can, for example, create your own cryptocurrency, secured in fiat currency or another existing cryptocurrency.

It is worth knowing that Coti is the issuer stablecoina Djed Cardano (ADA) and payment system ADAPay. It offers full technical support not only until new tokens are launched, but also when providing privacy modules or working on lower transaction costs.

What is a COTI token?

The native token of the entire Coti ecosystem is the COTI cryptocurrency. It works simultaneously on three blockchains: Ethereum (ERC-20), BNB Chain (BEP-2 and BEP-20) and yours Trustchain. It is used to pay for all services in the ecosystem, and you can also stake and collect rewards for it. Interest from all transactions goes to each COTI token holder in proportion.

COTI cryptocurrency quotes

As of June 19, 2023, COTI tokens can be traded on 50 cryptocurrency exchanges from around the world, including the world's most popular - Binance. You currently have to pay USD 0,044 for each of them, which, with the supply of 1 tokens, translates into over USD 204 million in market capitalization. A maximum of 830 tokens will be in circulation. The peak of quotations took place on October 117, 54, when COTI was valued at USD 2.