ICO Spotlight: COTI Cryptocurrency Payment Network Aims At Transaction Times

FinTech, ICO News | June 8, 2018 By:

COTI is a cryptocurrency payment network that the COTI team hopes will solve problems inherent in current networks. Current crypto-payment networks are plagued by slow transaction times, price volatility, and lack of protection for buyers and sellers.

Some networks have tried to solve these problems by implementing DAG-chain (Directed Acrylic Graph) protocols. These protocols should allow networks to have faster transaction times as they gets larger, instead of the opposite situation. However, DAG-chain cryptocurrencies such as NANO and IOTA have still failed to produce the instantaneous transaction speeds traditional credit-card users have come to expect. In addition, these networks do not comply with KYC and do not offer buyer and seller protections.

The COTI team believes these problems can be solved by using DAG for the payment system and delegated proof-of-stake to select arbitrators that will resolve disputes between merchants and customers. This will create a low-cost cryptocurrency network that can effectively compete with credit cards as a payment system. [MORE]

The COTI network ICO summary was originally published on the Amity Blog. The Amity editorial team of cryptocurrency experts and writers predominately covers whitepaper summaries of ICOs and long-form articles about topics that interest their community.

Read more about this and other ICOs at BlockTribune’s ICO Wiki