With the growth of blockchain and cryptos, the use of digital payments is growing. A majority of the blockchains, however, aren’t ready with a solution for the masses, given their complexity or lack of scalability. A robust payment system that is scalable and seamless like traditional payments while being cost-effective is an ongoing requirement. Today we will discuss about COTI, a platform that has been specifically designed to meet all challenges listed above.
COTI: Introduction
COTI is the first enterprise-grade fintech platform that seeks to empower organizations to build their own payment solution and digitize a currency while saving time and costs. COTI has been optimized for decentralized payments and can be used by merchants, governments, payment dApps, and stablecoin issuers.
COTI’s core infrastructure consists of Trustchain – a proprietary consensus algorithm based on machine learning. The Trustchain mechanism operates on a multi-DAG (directed acyclic graph) data structure which helps in driving up the scalability by processing over 100,000 TPS (transactions per second). Besides these, the COTI ecosystem consists of multiDAG, Global Trust System (GTS), a payment gateway and a universal payment solution – COTI Pay.
COTI platform was launched in 2017 with a staking platform launch in 2020.
COTI token: Fundamentals
COTI is the native token of the COTI ecosystem. Besides using the token for availing different services within the ecosystem, the users can stake their COTI tokens to earn a steady income from the process of transaction approval in the COTI network. The circulating supply of the COTI token is 1.05 billion, while its total maximum supply is 2 billion.
Short Term Technical Analysis
COTI token is trading around $0.21 with a total market cap of just over $220 million . It has been on a downward trend since November, and faced multiple rejections from a resistance trendline that is currently in confluence with the golden pocket of its drop at $0.29. Should that level be overcome, targets of $0.32 and $0.39 are attainable. Else, we may see a relatively slow grind down to $0.16 and possibly $0.08.
Source: TradingView, Binance
Future Potential
The COTI ecosystem has some known names as investors and advisors including Blockedge Capital, Cardano, Wave, Block Crafter, EY, Lancaster, Hard Yaka, etc. It boasts of a wide spectrum of utilities that aim to revolutionize digital payments like never before. That COTI network is being optimized for DeFi holds even more relevance as an infrastructure protocol in the future. The platform has also partnered with Cardano, AdaSwap, and ErgoDEX on several DeFi-based and stablecoin issuance projects.
Given it is still a relatively smaller token (ranked 186 by market cap), it does seem like a risky investment at this stage. However, projects such as these have potential to grow into the top 100 list if ecosystems develop around it.
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Disclaimer:This article was authored by Giottus Cryptocurrency Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.
