Online payment is the act of carrying out money exchange activities electronically through computer networks (internet) and digital stored value systems. When one receives a payment through the internet , the person is actually receiving an online payment. Online payment can be carried out from a credit card, checking account or other clearing house like paypal for instance. This system of payment greatly expands the reach of businesses and improves its ability to make sales.
The blockchain technology is a digital and decentralized ledger that records all financial transactions. This technology is being applied in many sectors including the online payment systems to achieve cheaper, optimized, secured and more transparent transactions. Cryptocurrencies are digital coins used to effect transactions made on blockchain driven systems. It is so glaring that this technology (blockchain) has made significant impact on online payment platforms, but some of these blockchain based online platforms are still surrounded by critical issues such as: low rate of transaction processes, high cost of transaction fees, difficulties in management of many cryptocurrencies which survives at the mercies of unverified public assertions and numerous chargebacks / transaction cancellations resulting from the distrust between parties involved in the transaction process.
Introducing COTI (Currency of the Internet)
COTI is a cryptocurrency that seeks to speed up online payment transaction rates at a very minimal cost. COTI is a DAG (Directed Acyclic Graph) based cryptocurrency that improves the performance rate in handling large numbers of online payment transactions. This cryptocurrency applies its Trust Chain Algorithm to validate and confirm transactions faster which raises the trust level between buyers and merchants.
Key Features
With its mediation service in place, users can comfortably receive some help and support in cases of fraud and other dispute/irregularities that may occur during transaction processes.
COTI network utilizes a transparent and fair fee model. Network fee is set to zero at the initialization stage of the network then after this period, a minimal fee will be charged as a result of the decentralized nature of the network.
Token sale details
Start date: 15 JUN – 1 JUL
Ticker: COTI
Token type: ERC20
Fundraising Goal: 30,000,000 USD
Sold on pre-sale: 3,001,028 USD
Available for Token Sale: 30%
Whitelist: YES (21 MAY – 24 MAY )
Know Your Customer (KYC): YES
Competitive advantage
In order for a project to achieve great success and for investors to achieve maximum return on investment, the project in question must have a competitive advantage over an existing platform and that is what the team behind this project has done. They are aware of the competitive nature of the online payment industry and they have come up with strategic plans to stay ahead of their competitors.
Team
In order for a project to achieve its aim, the team behind it must be up to the task, the team pushing the COTI project forward has all it takes to achieve their objectives. The partners incorporate blockchain specialists, crypto lovers and different technocrats who have faith in the ability of blockchain.
Conclusion
Smart investors are always looking for projects with great potentials to invest in, this is one rare project with a real-life use_ case, the project is huge and has great potentials. The team is up and doing. With the level of engagement and progress, the team has achieved so far, I believe they will deliver.
For more information, visit the following:
Website: https://coti.io/
Whitepaper: https://coti.io/en/files/COTI-technical-whitepaper.pdf?v=c392fd0bc30
Telegram: https://t.me/COTInetwork
Bountyox username: sparklins4u