Coti AMA Recap

COTI Protocol AMA Recap

CryptoDiffer team

We are glad to meet here 

Shahaf Bar-Geffen (@shahafbg) CEO of COTI

Dr. Nir Haloani (@nirhalo), CTO at COTI

Samuel Falkon (@lovelyanarchism), Co-founder, VP of business development of COTI

Efrat Bar-Lev (@EfratBL), VP marketing at COTI

 Q1: Can you introduce yourself to the community? What is your background and how did you join COTI?

Shahaf Bar-Geffen
CEO

Hello everyone, I’m Shahaf Bar-Geffen, COTI’s CEO.

When I first joined COTI, I was an early investor and part of the board of advisors. I was a co-founder of successful companies in my past and have two exits, so for me it was natural that a few months later I was asked to take the helm as CEO. I was impressed with COTI’s vision and promise in solving real world issues, so I came onboard and haven’t looked back since.

Efrat Bar-Lev
VP marketing

Hi everyone and thanks for having us here! I’m Efrat Bar Lev, and I have been working in the digital media sphere for the past 6 years. I met Shahaf (COTI CEO) while working at WEB3. When he joined COTI as CEO, I was asked to come on board as the VP of marketing and was more than happy to.

Dr. Nir Haloani
CTO

Hi Everyone, I’m Dr. Nir Haloani, COTI’s CTO. I’m a math PHD from Israel’s top institute, hold 14 patents, sold a company to IBM and was their head of research.

 I was first attracted to COTI mainly because of blockchain’s technological challenges  and because it takes a holistic approach to solving fundamental problems in today’s payments landscape. I was an early Bitcoin adopter a few years ago and maintained small mining networks for experimental purposes. I was looking for the right opportunity to join a company which could tackle the challenges faced by traditional cryptocurrencies and deploy solutions that could be of use and be adopted by the mainstream.

Samuel Falkon
VP of business development

Hello! I am a technology enthusiast and a crypto veteran since 2012. My occupation before I turn to madman crypto lover, was a distribution of silicon chips and on-board diagnostics devices for the automotive industry in Europe.

CryptoDiffer team

Can you briefly describe what is COTI in 3-5 sentences? What technology stands behind COTI and why it’s better than the existing one?

 

Efrat Bar-Lev
VP marketing

COTI is a fully encompassing “finance on the blockchain” ecosystem that is designed specifically to meet the challenges of traditional finance (fees, latency, global inclusion and risk) by introducing a new type of DAG based base protocol and infrastructure that is scalable, fast, private, inclusive, low cost and is optimized for real time payments. The ecosystem includes a DAG based Blockchain (https://www.youtube.com/watch?v=kSdRxqHDKe8), a Proof of Trust Consensus Algorithm (https://coti.io/files/COTI-technical-whitepaper.pdf), a multiDAG (https://medium.com/cotinetwork/introducing-the-coti-multidag-b353793cf582), a Global Trust System (https://medium.com/cotinetwork/introducing-cotis-global-trust-system-gts-an-advanced-layer-of-trust-for-any-blockchain-7e44587b8bda), a Universal Payment Solution (https://medium.com/cotinetwork/coti-universal-payment-system-ups-8614e149ee76), a Payment Gateway(https://medium.com/cotinetwork/announcing-the-first-release-of-the-coti-payment-gateway-4a9f3e515b86), as well as consumer (COTI Pay – https://coti.io/coti-pay) and merchant (COTI Pay Business – https://gateway.coti.io/dashboard) applications.

CryptoDiffer team

Everyone please prepare your questions, chat will be opened for approximately 30 seconds, exact time of the opening will be announced after this question is answered!

Efrat Bar-Lev
VP marketing

Our MainNet is live since June 2019. We are adding Nodes and staking in the coming weeks so COTI holders can benefit from that (https://medium.com/cotinetwork/coti-opens-full-node-registration-and-reveals-staking-model-800bfcfdbe8a). Another key release coming on our MainNet is MultiDAG, the first ever DAG that lets you issue tokens on top of the base protocol, like ERC20 on Ethereum (https://medium.com/cotinetwork/introducing-the-coti-multidag-b353793cf582).

The Universal Payment System is well underway with the Crypto processing elements in place for BTC and ADA, with more to follow soon (https://medium.com/cotinetwork/announcing-the-first-release-of-the-coti-payment-gateway-4a9f3e515b86, https://medium.com/cotinetwork/adapay-solution-is-now-live-13b5ca506f37). We are already processing millions of USD every month as can be viewed on our block explorer (https://explorer.coti.io/).

Credit Card processing would be live in a matter of days, and we’ll announce it very soon. I expect us to process over 10MM USD / month in less than a quarter. 

With that ready, we can start working our way to instat settlements on our Trustchain, and Defi elements of interest to holders and working capital loans to merchants (https://www.youtube.com/watch?v=7v_ruHS483g&t=26s)

Cryptodiffer Community

As we know Both Coti & Vite are DAG projects ! But How Coti project is better than Vite? 

What are the key Features of Coti project which makes Coti different from all Competitors?

Samuel Falkon
VP of business development

We never heard of VITE before, so instead of focusing on their problems I’ll focus on what’s great about COTI:

1. Huge 20$ Trillion market 

2. Real proven business model that is already generating revenues

3. Utility for holders: price increase as the network grows, running nodes to gain more coins

4. Superior Tech – high reviews by experts

5. Proven team with a track record of success

6. Strong partnerships with Cardano (ADA), LINK, DAG, FTM

To summarize, VITE is a nice project but COTI is a great company

 

Cryptodiffer Community

How you solve the Security, Scalability and Liquidity Problems?

Dr. Nir Haloani
CTO

COTI has built mechanisms to monitor, detect and defend against any possible network attacks, ensuring network security. An example of such a mechanism is COTI’s Double Spend Prevention (DSP) Nodes. COTI is introducing a double spend prevention solution, which consists of adding a handful of highly trusted nodes to the network with the primary function of reaching consensus on whether a transaction is legitimate or a double spend. DSP consensus consists of a majority of DSP nodes, and when a transaction has more than one half of the DSP Node signatures, then consensus is achieved.

To overcome the speed challenge, COTI has developed a new approach to achieving consensus between transacting parties operating on a DAG-based data structure. The Cluster is a ledger, or a record of all transactions in the network, which is based on a completely decentralised DAG that is not stored by any central authority. The Cluster achieves scalability through its use of parallel source selections and transaction confirmations, as well as its use of trust scores in the COTI network.

Cryptodiffer Community

COTI provides the 7 necessary elements for a perfect payment infrastructure, one of them is Buyer-seller protections function. Will this work like similar mechanism on Paypal? Since blockchain transaction can not be reversed on permisionless blockchain, how will Coti team handle dispute cases that buyers/sellers don’t want to refund?

Coti aims to be full decentralization. However, will decentralization be decentralized while Coti faces regulation challenges from regions that are regulated on finance?

Efrat Bar-Lev
VP marketing

The COTI network also includes an arbitration layer (https://medium.com/cotinetwork/cotis-arbitration-system-2d1df3f732d9), an autonomous system that works as a decentralised third party to arbitrate disputes. Disputes are resolved by an arbitrator jury randomly picked from a large pool of highly trusted network participants and arbitrators are incentivised to participate in the dispute resolution by receiving an arbitration fee once a dispute is finalised. Effective and efficient dispute resolution is a long sought after goal in the decentralized finance world and similar to COTI’s Trustscore, the arbitration layer can also be connected to other blockchain networks and protocols.

Cryptodiffer Community

Why is COTI taking trustchain as the core for infrastructure?

How many competitors does COTI have on the same platform?

Dr. Nir Haloani
CTO

Trust: 

In COTI we have solved the trust challenges by using an innovative base-layer protocol in the form of a directed acyclic graph ledger built from transactions connected through time and harnessing trust-based algorithms. The trust in our network is based on a combination of the network participant‘s historical behaviour data and objective datasets. We take this into consideration in our protocol by calculating trust using a unique machine-learning algorithm. Trust in the COTI network is used in the Trustchain algorithm to validate and confirm transactions faster and to define the amount of work and consensus each transaction requires from the network.

In COTI, we apply trust to all entities in the network, meaning:

Consumers

Consumer trust represents the buying power of users, as well as the time it is going to take to approve their transaction. Highly trusted user transactions are approved faster.

Merchants

Merchant trust scores represent the ranking of specific merchants based on their past history of transactions and disputes. 

Node operators

Trust in this case represent the reputation of node operators in the network and how trustworthy they behave in the network.

Cryptodiffer Community

Whats the competetive advantages of Coti project ? How coti project is better than its competitors ?

Efrat Bar-Lev
VP marketing

1. Huge 20$ Trillion market 

2. Real proven business model that is already generating revenues

3. Utility for holders: price increase as the network grows, running nodes to gain more coins

4. Superior Tech – high reviews by experts

5. Proven team with a track record of success

6. Strong partnerships with Cardano (ADA), LINK, DAG, FTM and Recruit (Japan’s biggest internet conglomerate)

 

Cryptodiffer Community

COTI has an internal exchange, COTI-X, will this compete with existing exchanges? 

Samuel Falkon
VP of business development

No. Our exchange is for the use case of our merchants and the general public but not our main business.

 

Cryptodiffer Community

Coti is a coin for payment, What is the company business model in order to sustain itself through the upcoming years?

Shahaf Bar-Geffen
CEO

Our business model is straight forward: we take processing fees from transactions and our native coin is used as gas to power the network. 

Whenever a transaction happens, now or in the MultiDAG future, the merchant automatically converts part of it to COTI native coin, hence increasing the demand. The more transactions, the more demand. At a fix supply state, this leads to price increases, just like with any other utility like power or gas.

We have also expanded the token utility from just transactions to a whole ecosystem of financing and processing. The UPS runs on our DAG-based Trustchain, which means that all payment processing, whether coming from credit cards or crypto, is delivered and settled using our coin.

We then power financing options, like interest for savings and loans, and this is also based on the Trustchain and Trust Score Nodes to assess risk. It comes down to having new transaction volume originating from fiat payments turning into digital assets and raising the demand for the COTI coin.

Holders of the coin can benefit from the success of the network and can also manage nodes, to actually take some of the processing fee granted to them for their contribution to the process.

 

Cryptodiffer Community

What are the utilities of Coti Tokens ? What are the benefits of holding Coti Tokens ?

Shahaf Bar-Geffen
CEO

The value of any commodity-type currency arises from its usage as a means of payment and exchange. The greater the utility, the more valuable the currency will be. The COTI network offers a wide spectrum of possible payments and other applications. Payment usage contributes directly to COTI’s utility, while running COTI network infrastructure requires depositing a network fee in COTI and, in some cases, staking a sufficient amount of COTI.

COTI can best be described as a multi-layered system as depicted in the chart below:

Transaction fees are the main income source for a sustainable economy. A payload-agnostic fee is either equal for every transaction, or case-specific, but is only possible for non-payment applications. In the case of payments, we cannot define fees both large enough to recoup the system and small enough to make micropayments possible. For this reason, COTI PAY, COTI-X and the COTI Arbitration Service use value-based pricing.

COTI’s Full Nodes are fee collectors In the COTI ecosystem, the stakes and interests of users with different roles in the network are well defined and equitable. The COTI network core is made up of a constellation of user-run Full Nodes, DSP Nodes and Trust Score Nodes. COTI Full Nodes can define their own price list and compete for users based on their performance and price. Consequently, COTI Full Nodes are responsible for collecting fees for protocol usage and transferring the network fee to the COTI network pool. All fee collections and payment distributions are denominated in COTI tokens.

Cryptodiffer Community

COTI looks like the new backbone for modern (i.e. crypto based) financial activities. Do you consider COTI to be the new Internet of Finance (IoF) or/and the new Internet of Money (IoF) or/and the new Internet of Payment (IoP)?

Samuel Falkon
VP of business development

COTI looks like the new backbone for modern (i.e. crypto based) financial activities. Do you consider COTI to be the new Internet of Finance (IoF) or/and the new Internet of Money (IoF) or/and the new Internet of Payment (IoP)?

Cryptodiffer Community

What are the conditions to be able to run Node and get Token CoTi reward?

There’s been some FUD around the amount of ERC-20 and BEP-2 token holders on the COTI network…

Efrat Bar-Lev
VP marketing

Regarding Nosed – We are adding Nodes and staking in the coming weeks so COTI holders can benefit from that (https://medium.com/cotinetwork/coti-opens-full-node-registration-and-reveals-staking-model-800bfcfdbe8a).

Regardinf the FUD that was truly ridiculous as the Fudder “forgot” that we have 3 tokens on 3 networks. The numbers are around 5000 wallets, not taking into account exchanges, that have about 20,000 more, to the best of my knowledge. Also note that we require KYC procedure to open a mainNet wallet, so it’s a bit harder than other platforms.

Cryptodiffer Community

According to CMC total supply of $COTI is 2.000.000.000 COTI

Does COTI have plans for buyback and lock-up of tokens and community tasks/activities to raise awareness and bring mass adoption?

Shahaf Bar-Geffen
CEO

We are considering some changes for the benefit of holders, but as mentioned, we won’t announce anything before the voting ends, to play fair.

Cryptodiffer Community

How currency of the Internet COTI is going to revolutionise the next generation payment solution? Will COTI be the answer to bring the mass adoption?

Samuel Falkon
VP of business development

We hope so. It seems that merchants love our solution, and it is reflected at the bottom line financial results of COTI.

Cryptodiffer Community

Adoption is one of the important factor that all sustainable blockchain projects should focus to be more attractive in the investors’ eyes. Can you tell me what Coti has done and plan to do to achieve Adoption in the reality, real use cases, our real society…?

Efrat Bar-Lev
VP marketing

We are already processing millions of USD every month as can be viewed on our block explorer (https://explorer.coti.io/).

We work both on direct merchant acquiring and on big partnerships.

We work directly with merchants by offering them to test us as a credit card processor with added benefits (instant settlement, savings etc) and benchmark us to what they already have. We have a very nice pipeline of merchants as it’s a win-win for both parties. 

We work on major partnerships, like Cardano, by offering parts of our technology to benefit what they already have and their user base. 

The last element that we are about to add is the MultiDAG, they ability to issue tokens on our infrastructure, that will really open us up to be adopted by developers, projects and financial enterprises around the world that would like to issue a tokens for transactions, stable or not.

Cryptodiffer Community

What’s your thoughts on being nominated for the vote and how do you feel this adds legitimacy to the project in general?

Shahaf Bar-Geffen
CEO

It’s great to be recognized and to qualify for Binance listing. We have been in discussions with the listing team for a long while and they have a really deep and thorough process. They look on everything, from tech to adoption to community. Ticking all the boxes with such high scrutiny is really exciting for us.

“It’s a great honor to be nominated”, as the saying goes in the Oscars. And if we stay on that analogy, then films that are nominated to win a prize are always good and enjoy great viewership, even if they don’t win.

It is also very important to note that participating in such a contest means that COTI IS QUALIFIED TO LIST ON BINANCE. That’s great news and it means that if we win or not, we’re eligible and qualified to list on Binance if not now then in the future. That’s the bottom line.

Cryptodiffer Community

Binance community coin voting will start soon. My question is this. Let us know three reasons to vote and invest in coti Network.

Efrat Bar-Lev
VP marketing

1. Huge 20$ Trillion market 

2. Real proven business model that is already generating revenues

3. Utility for holders: price increase as the network grows, running nodes to gain more coins

4. Superior Tech – high reviews by experts

5. Proven team with a track record of success

6. Strong partnerships with Cardano (ADA), LINK, DAG, FTM

To summarize, VITE is a nice project but COTI is a great company

Cryptodiffer Community

Q: COTI has a circulating TPS (currently 100.000+ TPS per second) compared to other platforms in order to allow large corporations to more easily keep the user pool and transaction process massive.

How do I resolve security in large transactions?

Dr. Nir Haloani
CTO

Our consensus protocol at his current state is divided to two:

1. TCC (Trust Chain consensus). It is PoW-based threshold to allow transactions to be added to the DAG. Doing TCC, a Full Node provides proof that a transaction can be further processed, but it is not a decision that the transaction is acceptable (not double spending).

2. DSP (double spending protection) consensus, unlike TCC, is BFT-family consensus.

Currently we are working on pBFT implementation and getting the protocol to be Byzantine Fault Tolerance but at the current state most of the critical nodes are operated by COTI till we finalize our consensus algorithm.

Cryptodiffer Community

Q.Trustchain can have a maximum processing speed of 100,000 TPS. So now, what is the speed of Trust Chain on the current DAG? In the future, do you have plans to improve more TPS as Blockchain application is becoming more and more widely used?

Dr. Nir Haloani
CTO

10K TPS has been verified and benchmarked internally using synthetic transactions and load simulations executed within our TestNet environment (these tests can be replicated by any user).  We believe that this will result in improved network scalability following our MainNet release and as more users join the network. In other words, there is a positive correlation between the number of network users and the rate at which transactions are confirmed. So as our solution expands and is adopted, the rate of transactions per second will also increase significantly.

 

Cryptodiffer Community

What’s your thoughts on being nominated for the vote and how do you feel this adds legitimacy to the project in general?

Samuel Falkon
VP of business development

Well, We are flattered by the fact Binance has chosen us as the leading DAG project. It is evident that our technology is robust and generating income and so, we are not surprised. We glad that the crypto community is choosing COTI. Binance, Cardano, Chainlink, Fantom, DAG, and many others.

Cryptodiffer Community

How many partners currently have trusted in COTI and what benefits do these partners bring to COTI and vice versa?

Efrat Bar-Lev
VP marketing

Here is a brief review of our top partnerships:

ADA (Cardano Foundation) (https://bit.ly/2oTN2KR), 

LINK (Chainlink) (https://bit.ly/2YYa7vR), 

FTM (Fantom) (https://bit.ly/2I0izQy), 

$DAG (Constellation) (https://bit.ly/2R1vIeT), 

Recruit, Japan’s biggest internet conglomerate (https://bit.ly/2YKyjOl), 

Simplex, the Fiat to Crypto solution that Binance use (https://goo.gl/Fe8gfy)

Xangle (https://bit.ly/2JzeTY6)

 

Cryptodiffer Community

Coti project is Focusing on Payments system … But Price stability is the main issue for payment projects ! How Coti project solves that issue?

Give some key features of CotiPay! How Cotipay is better option for businesses than other crypto payment services ?

Samuel Falkon
VP of business development

A merchant would prefer COTI Pay to his traditional solution because COTI gives him everything that he gets with his previous solution (like credit card processing) but adds some very important benefits like INSTANT payment, low transaction fees (sometimes 90% cheaper), Defi based Savings account and global access to the underbanked. 

When compared to a crypto processing solution, like BitPay, we offer a complete solution by allowing credit card processing, which is most of the merchant’s business and access to loans and savings. We are the only true universal solution out there.

Check out this image:

 

Cryptodiffer Community

In the crypto payments, there are most common problem is Illegal activities like Money Laundering ! So, my question is How Coti can solve that illegal activities issues?

Efrat Bar-Lev
VP marketing

Any regulated crypto wallet used for payments requires KYC/AML as part of the onboarding process.

COTI follows stringent Know Your Customer (KYC) and anti-money laundering (AML) policies to ensure the network is always safeguarded for all users.

COTI is inherently not conducive to money-laundering, as any user of COTI’s wallets, exchange and processing solutions must undergo strict onboarding procedures. COTI is similarly committed to protecting user privacy and has appropriate consumer data protection mechanisms in place.

That being said, ERC20, BEP2 and any token issued on the COTI MultiDAG, doesn’t require the KYC process.

 

Cryptodiffer Community

How big is your team and What is the hardest part to make developers come and built on coti project ?

Samuel Falkon
VP of business development

Currently 20+ team members worldwide. It’s easy to add developers, It’s HARD to add DAG developers with financial background!

 

Cryptodiffer Community

Everyone needs security for their assets because,Security is a community concern. Let me know how you handle customer asset security at COTI X?

Dr. Nir Haloani
CTO

Infrastructure Security

1. Wallet hosted in a private subnet and internal software communication is through an additional authentication layer.

2. Outbound connections from the wallet server are allowed to the blockchain & inbound connections blocked except for the white-listing of client issued RDP addresses.

3. Wallets hosted on hardened servers.

4. Cold wallets are hosted offline and firewalled off.

Personnel Security

1. Separation of duties for key and RDP password generation.

2. Role based access control with authentication, authorization & accounting.

3. Stringent background checks for personnel.

Logging & Monitoring

1. All access to the wallets is subject to monitoring & logging.

2. Personnel access to the wallets is authorized only through a multi-tiered approval process.

3. Real-time alerting on any anomalies.

 

Cryptodiffer Community

Why should users choose COTi? What advantages does COTI have to attract them?

Efrat Bar-Lev
VP marketing

1. Huge 20$ Trillion market 

2. Real proven business model that is already generating revenues

3. Utility for holders: price increase as the network grows, running nodes to gain more coins

4. Superior Tech – high reviews by experts

5. Proven team with a track record of success

6. Strong partnerships with Cardano (ADA), LINK, DAG, FTM and Recruit (Japan’s biggest internet conglomerate)

 

Cryptodiffer Community

Who will take benefit from transaction fees on the Coti Blockchain? Miner or Staker???

Samuel Falkon
VP of business development

Node operators of all kinds and those who HODL because of demand increase

 

Cryptodiffer Community

Can you give me 3 reasons why I should invest COTI for long-term ?

Efrat Bar-Lev
VP marketing

1. HODL to enjoy incentives

2. HODL to enjoy increase demand of the token

3. Run a node to take profits from all transactions

4. Staking for profits

5. Very low market cap for such a superior technology (such market cap is an opportunity)

6. High scalability for the long term (DAG)

 

Cryptodiffer Community

Have been seeing COTI multi DAG please what improvements does this add to the coti project

Dr. Nir Haloani
CTO

By presenting multiDAG (not available on any other DAG based platform) COTI is not bound to one instance of DAG. The same infrastructure of nodes permits the creation of multiple DAGs for different originators and purposes. There can be voucher tokens, stablecoins of varying nature, dedicated tokens for global companies, or scalability tokens to speed up settlements in other blockchains. COTI use several independent clusters that each support one token, which will make the whole network efficient and adjustable. The COTI MultiDAG ecosystem is similar to Ethereum, as a common decentralized infrastructure is the basis for a multitude of different tokens and smart contracts and one main coin for paying fees.

 

Cryptodiffer Community

Is it possible to use Coti to track purchases in online stores and further monetize this data by selling ads?

You have a completely new POT consensus protocol, what is the protection against double-spending problems?

Samuel Falkon
VP of business development

We don’t allow ads or collect this sort of data as we adhere to privacy restrictions. We do have a new consensus mechanisem and it protects against double spend via the DSP nodes, a new type of node we have invented

 

Cryptodiffer Community

Q: What does Coti have to compete with previously developed projects and strong communities such as Stellar, Ripple, …?

Q: How does CoTi plan to prevent and handle money laundering transactions?

Efrat Bar-Lev
VP marketing

Current incumbents that operate in the financial sector are Ripple and Stellar. Stellar and Ripple are looking to create an environment of near instantaneous transfers to help serve the global unbanked population. However, their tech stack is based on previous generation blockchain that is challenging in terms of scale and costs. COTI is unrivalled in terms of scalability, processing tens of thousands of transactions per second (TPS) on account of its DAG-based Trustchain consensus protocol, all while maintaining complete decentralization. 

COTI’s data structure incentivizes node operators by enabling them to earn a percentage of network fees for their contribution to the network. Ripple is centralized by nature (and criticized for it) and Stellar’s node operators have no incentives to run nodes. This approach creates a risk of centralization and lack of distribution. 

COTI also supplies the infrastructure and needed features tailored for stable coins, which provides numerous advantages over issuing stable coins on other third party platforms like Ethereum, including extreme scalability, near zero fees and privacy. While some stable coin projects have added stability to the system, many others have compromised on decentralization and security and all lack the technological foundation for real world use.

Regarding AML, any regulated crypto wallet used for payments requires KYC/AML as part of the onboarding process.

COTI follows stringent Know Your Customer (KYC) and anti-money laundering (AML) policies to ensure the network is always safeguarded for all users.

COTI is inherently not conducive to money-laundering, as any user of COTI’s wallets, exchange and processing solutions must undergo strict onboarding procedures. COTI is similarly committed to protecting user privacy and has appropriate consumer data protection mechanisms in place.

That being said, ERC20, BEP2 and any token issued on the COTI MultiDAG, doesn’t require the KYC process.

 

Cryptodiffer Community

Server throughput is limited, can COTI fix it in the future? Why do DSP Nodes and Trust Score Nodes require higher staking than full nodes?

Dr. Nir Haloani
CTO

COTI infrastructure is designed in a sharding architecture which means that not all nodes in the network needs to be connected in order to achieve consensus. In addition, the DAG structure of the ledger allows us to confirm transactions in parallel.

DSP and TrustSCore nodes are more sensitive nodes in the network and are the ones that sign every transaction in the network therefore the stake for running such nodes is higher.

 

Cryptodiffer Community

Can you give me one reason why we need to vote $COTI ? 

I mean what special COTI

Efrat Bar-Lev
VP marketing

1. Huge 20$ Trillion market 

2. Real proven business model that is already generating revenues

3. Utility for holders: price increase as the network grows, running nodes to gain more coins

4. Superior Tech – high reviews by experts

5. Proven team with a track record of success

6. Strong partnerships with Cardano (ADA), LINK, DAG, FTM

 

Cryptodiffer Community

Who verifies the transactions of Coti Networks and How Transaction are confirms of Coti’s TrustChain Protocol ?

Dr. Nir Haloani
CTO

Transactions sent from the COTI wallet need a Trust Score and send a request to the Trust Score Node. Once the wallet has a Trust Score,  it goes to the Full Node. The Full Node verifies the transaction and selects sources to validate. It then performs proof of trust, verifying the transaction and preventing spam. The transaction is added to the DAG network. Next, the Full Node sends the transaction to two Double Spend Prevention servers to prevent fraud. 

Once the transaction receives a greenlight from the two DSP Nodes, it’s sent to the entire DSP network, Trust Score network and Zero Spend Server

A majority of DSPs determine the transaction is valid and it’s sent to the entire network.  The transaction is validated. After a number of validations, the transaction’s Trustchain reaches the threshold. Once the threshold is reached, it is known as Trustchain consensus.  A transaction that has both DSPC and TCC is considered confirmed and is sent.

 

Cryptodiffer Community

Please explain the benefits for the COTI ambassador? Is this different from COTI investors or COTI holders or COTI masternodes ?

Efrat Bar-Lev
VP marketing

Becoming a COTI ambassador is a first-class ticket to take part in COTI’s overall vision of encouraging the mass adoption of cryptocurrencies and radically changing the world of payments. You will, of course, have many perks as an ambassador, including the option to run up to three Advanced Full Nodes, first access to company news and events, getting featured on our company blog, receiving remuneration for referrals, gaining recognition for any notable content you create and becoming an indispensable part of COTI.

https://medium.com/cotinetwork/cotis-ambassador-program-8435bd243f7c

 

Cryptodiffer Community

What is the ‘May 2020 price stability framework’ on the roadmap?

Efrat Bar-Lev
VP marketing

Implementing the framework which will allow anyone to define his own pairs of crypto-crypto, fiat-crypto as collateralization with our exchange (COTI-X) and communicate it to infrastructure. So any token issuer will be able to issue his own stablecoin and have the framework to build the stability mechanism for it.

 

Cryptodiffer Community

Have been seeing COTI multi DAG please what improvements does this add to the coti project?

Efrat Bar-Lev
VP marketing

COTI’s world first multiDAG enables COTI to issue smart contracts on DAG based infrastructure and combine independent DAG clusters into the overall COTI network. This allows enterprises to issue their own coins on COTI in a “Libra as a Service” manner.  Coins issued are independent to their own multiDAG cluster while retaining the ability to access all the features of the COTI network.

 

Cryptodiffer Community

How COTI will be affected as Facebook Libra is coming into, will it affect you ?

Efrat Bar-Lev
VP marketing

Amazing for the adoption of Crypto. In terms of decentralization, let’s see if they really plan to move to that direction in the coming years, as they said. 

Overall though, it’s good for us.

 

Cryptodiffer Community

How will COTI ensure buyer and seller protection to coti users ? How security will be maintained

Efrat Bar-Lev
VP marketing

The COTI network also includes an arbitration layer (https://medium.com/cotinetwork/cotis-arbitration-system-2d1df3f732d9), an autonomous system that works as a decentralised third party to arbitrate disputes. Disputes are resolved by an arbitrator jury randomly picked from a large pool of highly trusted network participants and arbitrators are incentivised to participate in the dispute resolution by receiving an arbitration fee once a dispute is finalised. Effective and efficient dispute resolution is a long sought after goal in the decentralized finance world and similar to COTI’s Trustscore, the arbitration layer can also be connected to other blockchain networks and protocols..

 

Cryptodiffer TEAM

I think it is enough for today! Coti team has set new record I believe, 3 rounds,~200 questions and they managed to cover most of questions in 1 hour! This is epic

I want to say thank you to COTI team for allocating their time and of course I want to thank you everyone to our community for preparing good questions!

Efrat Bar-Lev
VP marketing

Thank you everyone! It was a pleasure 

@makscryptodiffer You’ve built a great community here

 

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CryptoDiffer Admin
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