Please note, this is a STATIC archive of website www.coindesk.com from 28 Feb 2023, cach3.com does not collect or store any user information, there is no "phishing" involved.
$0.07066311
24H %
-1.58%
24H Low
$0.06962964
24H High
$0.07254572
DownloadIcon
TO

Linear
Log

About COTI

Sector

Currency


Industry Group

BaaS


Industry

Payments



The COTI price is $0.07, a change of -1.58% over the past 24 hours as of 3:13 p.m. The recent price action in COTI left the tokens market capitalization at $78,340,234.57. So far this year, COTI has a change of -80.20%. COTI is classified as a Currency under CoinDesks Digital Asset Classification Standard (DACS).


COTI is the native cryptocurrency of Coti (Currency of the Internet), an open-source payment infrastructure project that offers payment systems and stablecoins. Primarily used for simple everyday payments, Coti was built as a more cost-effective, expandable blockchain system for making online payments.

COTI price

COTI is a cryptocurrency built into the base layer of the Coti network used as a means of payments, including fees and staking within the Coti ecosystem. All COTI tokens were created at the project’s launch, meaning that it has a fixed supply. The project launched with a total supply of 2 billion COTI tokens with no possibility of destroying tokens or creating tokens via mining.

Thirty percent of COTI was sold during its pre-launch private token sale and subsequent public sale. The private sale offered COTI tokens for $0.08 to investors looking to allocate at least $50,000 in capital. The public sale occurred in June 2019, selling COTI for $0.065, raising a collective total of over $3 million for the project.

Following the launch, the tokens officially went live in May 2019; 15% of tokens were distributed to team members for their early involvement and 10% to Coti’s advisers. The remaining 45% of tokens are reserved for incentives and liquidity reserves. Incentive programs include COTI payments to partners, node operators, merchants and users in order to encourage early adopters to utilize the new payment system.

COTI was at an all-time low in November 2019 at $0.006266, falling just below its initial coin offering (ICO) price in its first six months of operating. By November 2021, the project was able to reclaim its ICO and further gain nearly 1,000% to an all-time high of $0.6826. The all-time high came after Coti announced a partnership with Cardano on the CardWallet project and became the lead issuer of the Cardano-based Djed stablecoin. By the end of November, Coti had fallen around 56%.

In addition to its all-time high, COTI additionally saw spikes to new highs back in March following the launch of Coti Staking 3.0, the integration of a Binance Smart Chain-based BEP20 token and a $500 million investment from the Cardano Fund (cFund).

How does COTI work?

COTI was created by the Coti Group in 2017, with the first product, COTI Pay, launching soon after. COTI was designed as a bridge between traditional payment methods and distributed ledger technologies. Unlike other cryptocurrencies, Coti uses a distributed ledger technology known as directed acyclic graph (DAG) rather than a blockchain. DAG networks are designed to be more scalable than blockchains, enabling a higher rate of transactions and a quicker settlement time. While the Bitcoin network, a blockchain-based system, can handle around 5 transactions per second (tps), Coti can handle up to 10,000 tps.

Coti is additionally different from bitcoin and other cryptocurrencies because it utilizes a Proof-of-Trust (PoT) consensus algorithm. PoT is a unique consensus algorithm created for Coti that combines Proof-of-Work (PoW) with its own Trustchain Algorithm. According to the white paper, Coti uses PoW to protect the network from spam and incentivize node operators to validate transactions and participate in the ecosystem. Unlike PoW in the Bitcoin network, Coti’s PoW is simply a protection mechanism that has no impact on consensus, except that transactions with higher difficulty are handled by full nodes.

The core infrastructure of the Coti consensus algorithm is the Trustchain protocol. The Trustchain protocol utilizes user trust scores to determine what amount of PoW is necessary to confirm a transaction. The higher a user’s trust score is, the less PoW is necessary and the faster a transaction can be confirmed. Nodes on the Coti network continuously monitor trust scores and update these scores for valid transactions between two parties.

When there is a disagreement among nodes and transacting parties, Coti utilizes an arbitration layer protocol that offers a fully moderated process that relies on game theory. This system is designed to fix both simple and complex disagreements by having a ‘jury’ of network participants vote on the decision and receive an incentive for correctly deciding on the outcome of the dispute.

Key events and management

Since the project’s launch, Coti has established several crypto and payment processing partnerships with other industry leaders. Coti and Celsius Network created a decentralized finance (DeFi) partnership in January 2020, which was quickly followed by partnerships with Fantom to contribute to the creation of a universal payment system. Through partnerships and internal development by the Coti team, the project was able to launch credit card processing on the Coti Network by February 2020.

In April 2021, the Cardano Venture Fund (cFund) made its first investment in Coti, providing $500,000 in capital to the project. Prior to the investment, Coti had offered support to Cardano’s ADA token in helping launch the first version of ADA Pay back in 2019. A few months later, Coti landed another partnership with crypto payment processor Simplex to launch COTI bank accounts and Visa debit cards. Simplex had been acquired by Canada-based payment processor Nuvei just a few months prior, which ultimately led to a partnership between Nuvei and Visa in December. Under the partnership between Nuvei and Visa, merchants on Coti’s blockchain network were given the increased benefit of being able to accept cryptocurrency as a payment method.


Previously Aired
CDTV logo

Quantum Economics Bitcoin Analyst Jason Deane joins "All About Bitcoin" to discuss his markets outlook as the lending arm of crypto investment bank Genesis Global Trading is temporarily suspending redemptions and new loan originations in the wake of FTX’s collapse. Plus, a conversation with Castle Island Ventures Partner Nic Carter about why proof of reserves could help to win back public trust in crypto.

$78.34M

$8.02M


COTI Price

24H Open
$0.07171330
24H Change
$-0.00113283
52 Week Low
$0.06575600
52 Week High
$0.47642400
All Time High
$0.45614200
Returns (YTD)
-80.20%

COTI Market Stats

Total Supply
1.11B
Max Supply
N/A
24H Value Transacted
N/A
30D Volatility
1.30
24H Transaction Count
N/A
24H Average Transaction Fee
N/A

About COTI

Sector

Currency


Industry Group

BaaS


Industry

Payments



The COTI price is $0.07, a change of -1.58% over the past 24 hours as of 3:13 p.m. The recent price action in COTI left the tokens market capitalization at $78,340,234.57. So far this year, COTI has a change of -80.20%. COTI is classified as a Currency under CoinDesks Digital Asset Classification Standard (DACS).


COTI is the native cryptocurrency of Coti (Currency of the Internet), an open-source payment infrastructure project that offers payment systems and stablecoins. Primarily used for simple everyday payments, Coti was built as a more cost-effective, expandable blockchain system for making online payments.

COTI price

COTI is a cryptocurrency built into the base layer of the Coti network used as a means of payments, including fees and staking within the Coti ecosystem. All COTI tokens were created at the project’s launch, meaning that it has a fixed supply. The project launched with a total supply of 2 billion COTI tokens with no possibility of destroying tokens or creating tokens via mining.

Thirty percent of COTI was sold during its pre-launch private token sale and subsequent public sale. The private sale offered COTI tokens for $0.08 to investors looking to allocate at least $50,000 in capital. The public sale occurred in June 2019, selling COTI for $0.065, raising a collective total of over $3 million for the project.

Following the launch, the tokens officially went live in May 2019; 15% of tokens were distributed to team members for their early involvement and 10% to Coti’s advisers. The remaining 45% of tokens are reserved for incentives and liquidity reserves. Incentive programs include COTI payments to partners, node operators, merchants and users in order to encourage early adopters to utilize the new payment system.

COTI was at an all-time low in November 2019 at $0.006266, falling just below its initial coin offering (ICO) price in its first six months of operating. By November 2021, the project was able to reclaim its ICO and further gain nearly 1,000% to an all-time high of $0.6826. The all-time high came after Coti announced a partnership with Cardano on the CardWallet project and became the lead issuer of the Cardano-based Djed stablecoin. By the end of November, Coti had fallen around 56%.

In addition to its all-time high, COTI additionally saw spikes to new highs back in March following the launch of Coti Staking 3.0, the integration of a Binance Smart Chain-based BEP20 token and a $500 million investment from the Cardano Fund (cFund).

How does COTI work?

COTI was created by the Coti Group in 2017, with the first product, COTI Pay, launching soon after. COTI was designed as a bridge between traditional payment methods and distributed ledger technologies. Unlike other cryptocurrencies, Coti uses a distributed ledger technology known as directed acyclic graph (DAG) rather than a blockchain. DAG networks are designed to be more scalable than blockchains, enabling a higher rate of transactions and a quicker settlement time. While the Bitcoin network, a blockchain-based system, can handle around 5 transactions per second (tps), Coti can handle up to 10,000 tps.

Coti is additionally different from bitcoin and other cryptocurrencies because it utilizes a Proof-of-Trust (PoT) consensus algorithm. PoT is a unique consensus algorithm created for Coti that combines Proof-of-Work (PoW) with its own Trustchain Algorithm. According to the white paper, Coti uses PoW to protect the network from spam and incentivize node operators to validate transactions and participate in the ecosystem. Unlike PoW in the Bitcoin network, Coti’s PoW is simply a protection mechanism that has no impact on consensus, except that transactions with higher difficulty are handled by full nodes.

The core infrastructure of the Coti consensus algorithm is the Trustchain protocol. The Trustchain protocol utilizes user trust scores to determine what amount of PoW is necessary to confirm a transaction. The higher a user’s trust score is, the less PoW is necessary and the faster a transaction can be confirmed. Nodes on the Coti network continuously monitor trust scores and update these scores for valid transactions between two parties.

When there is a disagreement among nodes and transacting parties, Coti utilizes an arbitration layer protocol that offers a fully moderated process that relies on game theory. This system is designed to fix both simple and complex disagreements by having a ‘jury’ of network participants vote on the decision and receive an incentive for correctly deciding on the outcome of the dispute.

Key events and management

Since the project’s launch, Coti has established several crypto and payment processing partnerships with other industry leaders. Coti and Celsius Network created a decentralized finance (DeFi) partnership in January 2020, which was quickly followed by partnerships with Fantom to contribute to the creation of a universal payment system. Through partnerships and internal development by the Coti team, the project was able to launch credit card processing on the Coti Network by February 2020.

In April 2021, the Cardano Venture Fund (cFund) made its first investment in Coti, providing $500,000 in capital to the project. Prior to the investment, Coti had offered support to Cardano’s ADA token in helping launch the first version of ADA Pay back in 2019. A few months later, Coti landed another partnership with crypto payment processor Simplex to launch COTI bank accounts and Visa debit cards. Simplex had been acquired by Canada-based payment processor Nuvei just a few months prior, which ultimately led to a partnership between Nuvei and Visa in December. Under the partnership between Nuvei and Visa, merchants on Coti’s blockchain network were given the increased benefit of being able to accept cryptocurrency as a payment method.


Market Analysis
Social Analysis

Trending Assets

Bitcoin Calculator

Last Updated on 11/17/22 3:13 PM

CoinDesk’s Bitcoin and Cryptocurrency Calculator determines the exchange rates between major fiat currencies and cryptocurrencies – including BTC, BCH, ETH and XRP to USD, EUR, GBP, IDR and NGN – with up to six decimal places of accuracy. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates.


Latest About COTI

CoinDesk - Unknown
Crypto Volatility Index 2.0 Rolled Out With USDC Support

Users can now open USDC positions and stake CVI USDC through the index.

CoinDesk - Unknown
CoinDesk - Unknown
COTI Launches Decentralized 'Fear Index' for DeFi Markets

"Traders can hedge themselves against a potential rise in the DeFi market volatility by taking a long position in the cVIX," according to COTI.

CoinDesk - Unknown

Disclaimer
Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results. CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or duration of CoinDesk content in all its forms.