COTI - Cryptocurrency Of The Internet

COTI is a payments transaction network that was built from the ground-up to solve the payments challenges of today. Developed by payments industry veterans, COTI combines the best of traditional payments systems with the best of blockchain technologies to offer the fastest, easiest, most cost-effective and most trusted way to pay. COTI will be holding a token sale for its native currency, abbreviated as XCT.

The name ‘COTI’ stands for the ‘Currency of the Internet.' The COTI team believes that, within a few years from now, digital currencies will play a central role in the lives of individuals and merchants everywhere. Our vision is for COTI to become the Currency of the Internet by being the first digital currency to achieve widespread adoption in payments.

The world has changed a lot in recent years and new forms of commerce — including peer-to-peer transactions, online marketplaces, and cross-border eCommerce — are becoming commonplace. The existing payments networks are not ideally-suited to dealing with these new forms of commerce. While digital currencies offer the promise of lower transaction fees and higher approval rates, they face scaling challenges and low rates of adoption. Moreover, they are not equipped to deal with the protections that consumers and merchants have grown accustomed. COTI combines the best of traditional payments systems with the best of block-chain technologies to offer a new way for individuals to pay and a new way for merchants to accept payments. And it does this in a way that is faster, easier, more cost-effective and more trusted than existing payments networks.

The Trust Protocol is COTI’s underlying technology. It consists of two main elements: Trust Scoring and Decentralized Mediation. COTI’s Trust Scoring system scores the trustworthiness of individuals and merchants based on their behaviors over time. Merchants with impeccable trust records pay zero processing fees, while merchants with less-than-ideal records incur higher fee settlements.
COTI’s Decentralized Mediation system relies on independent mediators to reach consensus on transaction disputes that occur within the COTI network. This method ensures that disputes resolved in a fair, fast and cost-effective manner. COTI’s mediators paid for their efforts in COTI’s native digital currency.

COTI’s native digital currency, XCT, cannot be mined. However, COTI’s mediators serve a miner-like function within the COTI network. Miners are paid in units of XCT when they successfully reach consensus.

COTI has several characteristics which position it as the first digital currency that is fit for consumer-initiated payments use cases and will enable it to drive down transaction fees, drive up approval rates, and empower the world to unlock its full potential to engage in commerce:

Through a variety of apps and merchant tools, COTI is simple enough to be used by any consumer and straight-forward enough for any merchant to start accepting.

Zero-to-low fee
Consumers never incur fees when paying with COTI, while merchants incur low-to-zero fees depending on their behavior over time.

Coti always settles transactions instantly and, like the major card networks, scales to process tens of thousands of transactions per second.

Coti protects end-users from their own errors and from fraud – it’s the first reversible, mediated digital currency.

Coti is built on strong regulatory foundations, and is non-anonymous, committed to anti-money laundering, and built to adapt to regulatory changes.

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