COTI Ecosystem Aims at Fixing Current Online Payments Market
COTI stands for Currency Of The Internet. That’s quite an ambitious positioning, but COTI’s vision is big. The team behind this project wants to create a decentralized and scalable payments network and set a standard for a next generation solutions. This standard will be trust-driven, instant, cost-effective and support a multi-currency wallet. The platform is based on the innovative distributed ledger technologies which aim to propel digital currencies to the mainstream. Currently, Bitcoin and its peers serve as cryptographically-secure cash layers. But in order to become widely adopted and used in daily payments, digital currencies need to offer protections which are common in the payment industry. Trust needs to be created together with incentives like lower fees and higher transaction confirmations. COTI offers solutions for current limitations. An MVP is planned for Q3 2018.