What Is COTI?
COTI coin is the native crypto asset of the COTI project. COTI is a DeFi protocol designed for making decentralized payments. The project allows dApps, merchants, and governments to create their own payment solutions.
COTI coins can be used for a few purposes:
- For trading on a variety of decentralized exchanges.
- As a low transaction fee payment method.
- For staking and rewarding node operators.
In terms of the COTI price, it can vary based on many factors. Thus, it's important to stay up-to-date. The graph above will these changes in the COTI price.
Why Is COTI Coin Unique?
COTI coin is different from most coins because it runs on three different mainnets:
- Trustchain network
- Ethereum network
- Binance cryptocurrency exchange
The coins have different forms on each network. For example, on Ethereum, the COTI token resides as an ERC-20 token. However, on Binance, it resides as a BEP-2 token. The COTI format used on most exchanges is ERC-20 because it’s the most accepted token standard. Besides, the COTI price remains similar even when the format of the coin changes.
Additionally, note that COTI token holders can convert the coins to different formats using the COTI bridge. This makes the tokens interoperable between the mainnets that it operates on.
Tokenomics of COTI Coins
The total supply of COTI coins is 2,000,000,000. There is no possibility of creating more coins because they cannot be mined.
In terms of coin distribution, 30% of the COTI coins were dedicated to the token sale. Also, almost half of the COTI coins (45%) are used for rewarding node operators and community members. The remaining part of the coins is locked and gets released only from time to time. It’s dedicated to the COTI team and project advisors.
Besides, the COTI price is quite volatile, just like many other cryptocurrencies out there. This is the case because there's usually more than one factor at play.
Is COTI Secure?
The COTI network offers strong cybersecurity protections for both data confidentiality and integrity.
COTI network has more than one layer that ensures the security of the platform. Overall, the infrastructure of COTI is secured by a DAG-based Trustchain algorithm.
Also, COTI has a service layer called Coti X. In terms of security, it revolves around ensuring stability and the protection of buyers and sellers. Besides that, the COTI network also secures the privacy of its customers by employing a hash table for its structure of data.
Additionally, the platform has its own COTI wallet. Since it demands user credentials and two-factor authentication, it also increases the coin's security.