Overview

  • Country Gibraltar, Israel
  • CategoryFinance/ Digital Currency

The COTI ecosystem was designed using innovative distributed ledger technology with the goal of providing a superior payment solution that outpaces current legacy card networks and cryptocurrency technologies.

Project stage

Only a whitepaper

Detailed description

The Cluster, COTI’s distributed ledger, is based on a directed acyclic graph (DAG) data structure consisting of transactions that propagate in a unidirectional pathway. While greater scale in blockchain-based networks leads to adverse effects on network usability, in DAG-based networks greater network usage leads to improved network scalability. As such, there is a positive correlation between the number of network users and the rate at which transactions are confirmed.

This makes the DAG ideally suited for COTI’s network base layer protocol, enabling it to achieve full decentralisation without compromising on COTI’s scalability, instantaneity and low-to-zero fees. Using COTI’s Trust Chain Algorithm, Trust Scores are the key mechanism by which new, unconfirmed transactions select prior transactions to validate in order to reach faster transaction confirmation consensus.

COTI’s native digital currency sits at the centre of the COTI network and fuels the interactions between consumers, merchants, mediators and node operators. COTI was purpose-built to overcome the barriers that have limited the widespread adoption of digital currencies in day-to-day payments.

Problem

Traditional payment systems like Visa and Mastercard experience numerous shortcomings – from high fees to low approval rates. They also fail to account for the underbanked population, which amounts to 2 billion people around the globe without access to financial services and banks.

On the other end of the spectrum, digital currencies like Bitcoin have faced severe network congestion, giving rise to scalability issues, higher fees and slower settlement times.

Solution

At COTI we’ve not only built a digital currency, but an entire digital payment ecosystem. COTI’s DAG-based consensus model, Trust Scoring Engine, Mediation System, currency exchange and decentralised governance are all hallmarks to the functioning of the COTI network.

Payments network was designed to take over where traditional payment systems left off, namely with instantaneous transfers, low-to-zero fees and cost effective buyer-seller protections. This is a major advantage for consumers and merchants alike as compared to traditional banking, credit cards and P2P platforms.

Features

Merchant:

  • Low-to-zero fees translate to higher profits
  • Increased cash flow due to instant settlements
  • Reduction in unnecessarily declined transactions (false positives)
  • Equitable chargeback mechanism
  • Micropayment processing
  • Secure and private payment network
  • Full KYC and AML regulation

Consumer:

  • Buyer-seller protections
  • Instant payments
  • Simple peer-to-peer (P2P) payments
  • No need to give away personal details to merchants
Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : COTI
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 30,000,000 USD
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :2,000,000,000 COTI
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :840,000,000 COTI
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :BTC, ETH, FIAT,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :Afghanistan, Bosnia and Herzegovina, Central African Republic, China, Cuba, Eritrea, Ethiopia, Guinea-Bissau, Iran, Iraq, Lebanon, Somalia, South Korea, South Sudan, Sudan, Syria, Uganda, USA, Vanuatu, Yemen,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    NA
      • Token Distribution

          Vesting notes

          • Token Sale: 6, 12 or 24 months required for the private sale
          • Team : 24 months: Locked up for the first 6 months, then released proportionally every quarter
          • Backers, partners and advisors: 6,12 or 24 months
        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      Public sale — Ended
      15 Jun 00:00 UTC
      01 Jul 00:00 UTC
      0.1 USD No - Uncapped 30,000,000 USD
      Private sale — Ended
      06 Jun 09:00 UTC
      06 Jun 09:01 UTC
      0.1 USD No Min 50000 USD Uncapped Uncapped
      • Team

        • Shahaf Bar-Geffen photo
          Shahaf Bar-Geffen
          CEO
        • Nir Haloani photo
          Nir Haloani
          CTO
        • Eli (Erol) Hallufgil photo
          Eli (Erol) Hallufgil
          Research & Software Engineering
        • Tal Dadia photo
          Tal Dadia
          Research Engineering
        • Yoni Neeman photo
          Yoni Neeman
          Software Engineering
        • Anton Suslonov photo
          Anton Suslonov
          Data Science
        • Yair Lavi photo
          Yair Lavi
          Finance/Operation
        • David Assaraf photo
          David Assaraf
          Business Development
        • Neta Salomon photo
          Neta Salomon
          HR
        • Samuel Falkon photo
          Samuel Falkon
          Community
        • Tamar Drachli photo
          Tamar Drachli
          Social
        • Jared Ungar photo
          Jared Ungar
          Business Development
        • Carlos M. Martins photo
          Carlos M. Martins
          Gibraltar Business Director
        • Anna Bocharov photo
          Anna Bocharov
          Community
        • Oriane Maire photo
          Oriane Maire
          Community
        • Yaniv Dadon photo
          Yaniv Dadon
          Software Development
        • Efrat Bar Lev photo
          Efrat Bar Lev
          Marketing
        • Jon Elias photo
          Jon Elias
          Social & Operations
        • Albert A. Levi photo
          Albert A. Levi
          Community
        • Idan Lakritz photo
          Idan Lakritz
          Blockchain Expert
      • Advisors

        • Matt McBrady
          Former CIO, BlackRock
        • Steven Heilbron
          Former CEO, Investec Bank UK
        • Greg Kidd
          Former CRO, Ripple Labs
        • Avi Chesed
          CEO, Processing.com
        • "PEERCHEMIST"
          Blockchain Expert
        • Stas Oskin
          Blockchain Expert
        • Ophir Gertner
          Blockchain Expert
        • Jonathan Avganim
          President, Processing.com
        • Zvi Gabbay
          Partner, Barnea & Co
        • Theofanis Alexoudas
          Risk Management, Advisor
        • Martin Fochmann
          Professor, University of Cologne
        • Stephan Wessel
          CEO, Arcana Capital
        • Stefan Hlawatsh
          CEO, Skybridge Investment

      Roadmap

      • Q4 2018
        Phase 1
        • Consumer wallet prototype
        • Full Node prototype
        • DSP Nodes prototype
        • History Node prototype
        • Trust Score Server prototype
        • Test net launch
      • Q2 2019
        Phase 2
        • Consumer wallet launch
        • Launch of the Full Nodes, History Nodes and DSP Nodes
        • Trust Score Server launch
        • Decentralized mediation prototype
        • Main net launch
      • Q4 2019
        Phase 3
        • KYC/AML Server launch
        • Decentralized mediation launch
        • Payment processing tools (API)
        • Payment processing tools (iFrame)
        • Exchange
      • 2020
        Phase 4
        • Debit card launch
        • Hedging service launch
        • Recurring billing
      • 2021
        Phase 5
        • Expansion of merchant services
        • COTI Fund
        • Mediation SDK launch

      Activity