In spite of its inherent market instability, the crypto industry has continued to see daily rise in its level of adoption. Today, the sphere ranks ahead of many other spheres across the globe, thanks to its worldwide acceptance. Although cryptocurrencies has not yet been embraced by everybody, but the pace at which its adoption level moves is remarkable. Owing to the persistent rise, the industry has continued to see rapid expansion, thereby amassing more innovations and projects. As of today, there are thousands of crypto-oriented projects. Notably, most of these crypto projects have their native protocols where they serve as instrument for activities on those protocols. Beyond that, they also exist to power their networks, availing their holders, in most cases, with governance rights. For instance, Coti Crypto coin, for instance is the native crypto of the Coti protocol, thereby facilitating the operations on the network.
Meanwhile, with the current market downturns ravaging the sphere, investors are advised to look before leaping. Although investors explore cryptocurrencies to achieve different purposes. However, irrespective of how investors harness cryptocurrencies, their most popular function is to serve as a medium of payment and investment, thereby relegating the traditional approaches to doing these things. Just like other forms of cryptocurrencies, the Coti crypto remains one of the available crypto assets available for investors to explore within the sphere. With this article, new and existing investors will learn more about the rudiments of the crypto project, its background, protocol and its potential.
Coti crypto: A general overview
As earlier asserted, Coti crypto runs as the native token of COTI network. It helps to fuel, power and safeguard the network. Notably, this token is built on the base-layer protocol of the network. As a utility token, Coti crypto serves as an instrument of payment and staking in the COTI ecosystem. Through the token, users of the protocol can run the network infrastructure. They are usually made to deposit or stake network fee in COTI. With Coti crypto, mediators on the network get their compensations. Mediators on the network, usually help the protocol reach its goal by maintaining the integrity of the network. Unlike others, Coti holders are yet to enjoy decentralized governance rights but the project aims to introduce that in the future so holders can be able to effectively participate in community decisions. Worth noting, the total supply of Coti crypto is 2,000,000,000 COTI.
Staking model on Coti
Remarkably, Coti crypto, just like other cryptocurrencies can be staked. The staking model of Coti allows stakers to steadily amass passive income from the stage of the transaction approval. According to findings, its developer built the model to compete other DeFi income models.
However, the project, has since its emergence, continued to develop its staking mechanism. Just last year, the Coti community unveiled the advanced staking program of the project, Staking 3.0. Findings show that the upgraded staking program allows the staking of more Coti coins on full nodes. Worthy of note, Coti crypto usually initiates a hedge price between denoted transactions in fiats, thereby representing node operator fees in percentages.
Coti protocol: An overview
As a native protocol of Coti crypto, Coti runs as a decentralized payment transaction network. According to its whitepaper, the platform offers a payment structure that is scalable, simple, cost-effective, instant, stable, and secure. More so, it whitepaper revealed that the project further “provides a dispute resolution system for buyers and sellers to safeguard against errors, fraud, and abuse.” Through its numerous payment solutions, users can save time, money and even data. Some of its offering include COTI Pay, stablecoins, payment network, and many more. Worth noting, Coti in a bid to serve users diligently usually facilitates payment in both fiat and digital currencies.
Remarkably, the whitepaper describes the project as a solution to high throughput and mistrust between parties. As discovered, Coti employs an efficient base-layer protocol, coupled with a trust-based algorithm. Through the latter, Coti rapidly validate and confirm transactions. Further, the trust-based algorithm, identified as Trustchain usually assigned trust scores to every transactions in chains. Afterward, it confirms only trusted transactions by the sender very fast.
Founding team of Coti crypto
Indeed, Coti crypto and its native protocol manifested in March 2017. The project emerged and is being run by COTI group, a firm, registered in Gilbraltar. The Co-founder of Coti is Sharaf Bar-Geffen. He is also the current CEO of the project. Also, the Chief technology officer of Coti is Dr. Nir Haloani. Other members of the team include Yair Lavi, David Assaraf, Efrat Bar-Lev, Yoni Neeman, Efrat Bar-Lev, etc.
Features of the project
The protocol of COTI crypto merges two major systems which are the traditional payment methods and the digital currency. As one of the prominent projects in the cryptocurrency space, the protocol offers a payment system that is scalable, easy to use, cheap, fast and secure. Notably, the protocol of COTI crypto can also be utilized by traders as a dispute resolution platform. With this, the protocol strongly frowns at fraud, abuse and contractual errors. This implies that the platform serves as a mediator between trades to address any resentments that might have occurred during a transaction. Therefore, making the platform secure and reliable.
Likewise, there are other in-house services on the protocol of COTI crypto that is useful for institutional investors and business organization. These services include COTI pay, payment network and stablecoins. These services are available for the aforementioned investors/user to help them cut costs, data and the time frame of processing large transactions. To carry out this function, the protocol of COTI crypto employs an innovative base-layer protocol and TRUST-based algorithm to validate and confirm the transactions. This algorithm, known as Trustchain, rates validators with trust scores and clustering transactions. This feature helps the protocol of Coti crypto to stay competitive and gives users the privilege to access the previous rating of a validating node. Undoubtedly, this feature makes the project a transparent one, giving users a variety of options regarding safety.
Role of Coti Crypto in its ecosystem
Coti crypto runs on the base-layer protocol, gaining utilization through the usage of its protocol. As a native token, Coti crypto offers a variety of usage applications, though within the network. Therefore, Coti crypto is majorly utilized as a means of settling on-chain payments network fees, validation of transactions and staking. So, to run the Coti network system, validators must stake a certain amount of the token. This staking system of Coti crypto provides a means of revenue through the validation of transactions on the protocol. The staking system runs specifically to rival the existing Decentralized Finance solution income system.
Unlike other models, Coti crypto offers a natural hedge value between the transaction denoted in fiats and node operator fees. Last year, the Community members of Coti crypto witnessed the introduction of a new staking initiative. This initiative is regarded as Staking 3.0. Among the notable changes, the system enjoyed is the amount of Coti crypto users who can stake on full nodes. In the new version, investors can stake between 25% to 33%. Likewise, the protocol incentivizes validators with Coti crypto for carrying out different tasks on the network. According to the whitepaper of the project, Coti crypto will become a stake for community members to vote on decisions relating to the protocol through it decentralized goverance system.
Major Shortcomings
To a noticeable extent, Coti crypto lacks utility, because the usage of the token seems limited to its protocol. This limitation hasn’t helped the market performance of the project, because of the fierce competition in the crypto space. Currently, Coti as a project is still attracting attention from users, not enough yet, so to some extent, Coti crypto hasnt benefitted positively. Like most native token, Coti crypto hasnt soared in value astronomically, never in its history has the token move above a dollar mark.
Further, the token is highly volatile, reactive and flexible to market trends. This implies that it reacts to any prevailing market condition in the cryptocurrency space. The lack of utility hasn’t helped the market condition of Coti crypto as well. However, there are impressive headlights about the future of the token and its project. This is due to the increasing introduction of Fintech solutions. This consequently attracted a new set of users to Coti lately. If this trend continues, Coti crypto is likely to gain more utility that could possibly improve the condition of the token.
Final Thoughts
Beyond reasonable doubt, there are no boundaries to the future of Coti crypto and its protocol. The token may not look like an ideal investment option. Nevertheless, a minimal financial commitment can yield good fruits for investors in the longer run. Meanwhile, investors can still earn passively on the protocol through its staking options. The value of the token may not be fascinating at the moment, still, additions from the staking system aren’t bad. At the long run, Coti crypto and its protocol will grow in value and essence. However, this depends on how the project edges above competitors to stand out.
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