COTI ICO Review: Digital Currency Built for Payments
COTI is a platform which is based on payment transaction. This is one of the older digital currencies which can process more than thousand transactions per second. This platform is charge free for all buyers along with full protection. The seller might have to pay something that is as per condition. Therefore one can say that is one of the best platforms for traditional payment method along with the digital currencies. Do you ever think why this platform was built? This platform was built to solve the transaction problem of the present days worldwide. It is the best blockchain technology that offers to be the fastest, easiest, reliable and most operative ways of the transaction.
COTI has its own native currency which is famously known as the XCT. The XCT is the center of attraction as it acts as an intermediate between the customer, trader and the mediator. This platform is created to solve the problem of limitation that has been built to lessen the adoption of the digital currency of daily based payment. If the users are using the COTI network then they can easily pay through XCT. The token is applied for all types of transaction. XCT acts as a medium of exchange which is useful during trading for goods or services.
- Solving problem:
This platform deals with all fraud cases, improper deliveries and other inappropriate problems. It solves all extra burdens that are quite costly for any industry company to bear up with.
The rate in the global world is quite low but with the recent time that problem has been looked after and solved by local bankers.
This platform acts as an intermediate between the merchant and the consumer as their relationship is inappropriate. The payments from the customer are done at the very beginning with the expectation that they will receive the product on time. But if there lays any problem during the transaction period, they have the full authority to report to the higher level who can look into the matter and solve the problem.
WHAT PROBLEM DOES COTI SOLVE?
If we compare the past and the present we will be able to clearly differentiate the situation of the world today. Life has become too complicated in today’s world in the field of trading, transaction, online marketing and many more related things from the different ground. If we look through the prevailing payment platform then we can note that it does not suit the new form of commerce. In digital currencies, the platform promises to provide a low transaction amount with higher approval rates. The merchant and the consumers have grown a strong bond over past year which needs to be secured by the platform to keep the trading grow. COTI is a platform that creates a strong relationship between the traditional payment platforms with the best blockchain technologies helping the users to trade in a better way. The platform is faster, easier, and cost effective along with trust which is needed in a payment platform.
COTI’s most secretive technology is the Trusted Protocol which is consisting of 2 main elements.
- Trust Scoring
- Decentralized Mediation.
The first element i.e. Trust Scoring System has maintained honesty between the user and the trader truly based on their relationship over the years. The procedure fee paid by a trusted trader is equal to zero.
Secondly, the Decentralized Meditation system relies totally on the intermediaries for the procedure of agreement based on the transaction problems that happen within the COTI platform.
These two elements are introduced to solve the problem of the platform to make the transaction fair, fast and cost-effective for the user.
If we look into the annual sheet for the process of the transaction then it will be noted that more than USD50 trillion users go through the transaction procedure.Almost around 99.997% of total transactions are responsible in trading with the US dollars and Euros. The XCT payment platform has become one of the most mandatory payment platforms for payment procedure as well as sending all necessary payments. The famous PROCESSING.COM is a global payment solution which is supporting this platform. Therefore it has been very easy for this platform to expand with the help of experience and respected partners.
COTI ICO AND IMPORTANT LINKS:
- Token: COTI
- Price: 1 COTI = 0.1 USD
- Platform: Ethereum
- Accepting: ETH, BTC
- Country: Gibraltar
- Dates: 2018-04-30 to 2018-05-30
- Visit official ICO Website
- Download whitepaper
This payment platform is formed by carrying out trading business in the advanced digital currencies with great features. The COTI has unique features with are such as direct credit, network-based market creation, decentralized mediation and finally the risk-based pricing for a better and lively payment system. To solve the problem of transaction and betterment of the platform the traditional payment system are upgraded as well as has blockchain technologies. This is done for the user so that they do not face any issues while using Bitcoin and PayPal as payment procedure.