COTI

COTI is a DAG-based layer 1, specifically designed for enterprises

About COTI

COTI is a layer 1 blockchain ecosystem that facilitates fast, secure transactions with low fees designed specifically for enterprises.

COTI meets the challenges of both centralized finance (fees, latency, global inclusion, and risk) and Decentralized Finance (fees, clogging, and complexity) by introducing a new type of DAG-based (DAG) base protocol and infrastructure that is scalable, fast, private, inclusive, low cost and is optimized for finance.

History

The platform began development in 2017 and was launched on the 4th of June 2019.

Since its inception in 2017, COTI's distributed ledger has developed a unique consensus algorithm called Proof of Trust (PoT), which combines Directed Acyclic Graph (DAG) data structures with Proof of Work (PoW) {1 2,}, to form the "Trustchain".

The Trustchain lies on a multi-DAG (directed acyclic graph) data structure, which works in tandem to drive up scalability, processing over 100,000 transactions per second (TPS). It can facilitate peer-to-peer transactions with its internal cryptocurrency, COTI.

COTI was chosen to receive the first investment from the Cardano Venture Fund {9} and is powering DJED, Cardano’s first stablecoin,{5, 6, 7, 10} and the payment system ADA Pay {3, 4, 8}.

Multi-DAG

The COTI MultiDAG ecosystem is similar to that of Ethereum. There are several independent DAGs on the network with different purposes. They each maintain fully customized tokens and applications, but all run simultaneously on the same infrastructure to make the whole network more efficient.

The COTI MultiDAG 2.0 will allow developers, merchants, and enterprises to issue tokens that inherit Trustchain abilities, such as scalability, high throughput, low cost, and easy-to-use payment tools like COTI Pay Business.

Users can create their own fiat-collateralized, crypto-collateralized, or even non-collateralized stablecoins with the MultiDAG. {1}