Centralized payment systems have disadvantages: a single management body, high fees, and long-term transactions. Therefore, the COTI blockchain project offered an alternative to the corporate sector and individuals. The network has a record bandwidth and sets minimum fees. After reviewing the review of the COTI cryptocurrency, investors will be able to evaluate its advantages.
COTI is a decentralized payment platform with the same token, allowing anyone to make instant payments with a near-zero commission. Now the token is actively developing, and the release of coti wallet is expected. It has great prospects in the e-commerce market and this is confirmed by the $250-million capitalization. The project is at the first stage of development, so it’s better to consider investments in COTI with a long-term perspective.
What are the features of COTI?
The project team has created a secure TrustChain network without classic blocks and mining. It solves the scalability problem and allows you to confirm transactions online with minimal commission fees. The protocol is optimized for decentralized payment transactions for:
- government organizations;
- payment networks without a governing body;
- projects that produce stablecoins;
- creators of decentralized applications.
The main goal of the project is to create a payment system based on a type 3.0 blockchain, which will make cryptocurrency an ordinary, most common payment method.
Thanks to the development of the project, private users and large companies can make fast, free transactions of all types of coins and currencies.
Key Advantages of COTI
Here are the main problems of centralized payment systems that the COTI project solves:
- long calculations, — sometimes from 3 days to 2 weeks, especially with bank transfers;
- high commissions, — In the US, users pay a total of $40 to $50 billion in fees per year;
- restrictions and checks on transfers abroad;
- third parties (banks and other financial organizations, payment systems) participate in transactions;
- slow introduction of innovations;
- risk of hacking;
- transactions for small amounts are often unprofitable.
Another important supported function is the creation of stablecoins. The platform’s clients can issue their own branded coin at a fixed rate. Moreover, the stability mechanism settings are available for any asset.