Don`t be afraid of the abundance of various coins on the modern cryptocurrency market, because people around the world are trying to create the most convenient technology that could be compared in competitiveness with the world-famous Bitcoin. One of these attempts is considered to be the COTI token.
This system offers fast and secure transactions with low fees. It aims to revolutionize traditional finance by eliminating intermediaries and enabling organizations to create their own payment solutions. Can you fatly transfer BTC, ETH or ripple to coti? Let’s understand in more detail.
In general, COTI (Currency of The Internet) is a special first-level blockchain system that was created four years ago to make fast and secure payments. The main work of this technology is the Proof of Trust consensus algorithm (a combination of a directed acyclic graph (DAG) data structure with Proof of Work).
The system solves many problems of centralized and decentralized finance. This is possible thanks to a scalable, private and inclusive protocol. The technology skips at least 100,000 transactions per second, which is quite a lot compared to Bitcoin (20 transactions) or Visa (65,000 transactions).
Prospects & Applying
Despite the fact that the preliminary sale of this cryptocurrency took place in 2018, they began to actively discuss tokens and their prospects only in the first half of 2021. Generally, the project is now actively developing and many experts say that this token can rise in price more than 10 times by 2023-2025.
Now the high-performance cryptocurrency is intended for official purposes and is used as a basic means of payment within the project ecosystem, namely for:
- Encouragement of operators of all types of nodes.
- Paying for fees and commissions.
- Arbitrage services.
Nowadays, COTI system is looking to expand partnerships with many projects and merchants and is expected to bring more diverse features to the platform in the near future.
However, be careful not to confuse this coin with the COTI Dime, which is a stablecoin, the rate of which is pegged to $0.1. It exists only within the project ecosystem and acts as a price stabilizer, as well as a tool for interaction between clients and service providers.
How To Store?
To store these coins without problems, you can use the proprietary «Pay-wallet». However, customers can also use other ones from the third-party developers that will support BEP2, ERC-20 forms. Remember, that it`s better to refuse to store COTI coins on the exchange, giving preference to hardware storage models.