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1  Alternate cryptocurrencies / Announcements (Altcoins) / COTI's ambassador program on: September 16, 2019, 09:04:28 AM
COTI's ambassador program



Interested in becoming a COTI ambassador? Get all the information here
COTIís community has been a vital part of all our activities, and the COTI Ambassador Program will be central to having our dedicated community members serve as brand advocates within their social circles. We are thankful for your interest in becoming more involved with the COTI project by driving awareness amongst novice and crypto enthusiasts, developers, business leaders, investors and anyone who likes what they see at COTI.

What does it take to become an ambassador?
COTIís ambassadors come from a variety of backgrounds and professions, ranging from technology and mathematics to finance, business and investments. We champion multidisciplinarians and value diversity across our ambassador program. Weíre looking to amplify our reach in numerous communities, so having a hybrid group of supporters will enable COTIís message to reach more and more interested groups around the world. COTI ambassadors are required to demonstrate satisfactory verbal and business skills to effectively manage communities and events. COTI ambassadors share in COTIís vision and have a strong interest in actively promoting it across their community.

Why should I become a COTI ambassador?
Becoming a COTI ambassador is a first-class ticket to take part in COTIís 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 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.

Ambassador tasks
COTI ambassadors have a six-month grace period to make sure the program is the right fit for them. This is a minimum window of opportunity for ambassadors to anchor themselves within their communities and establish their influence. The COTI ambassador program includes a number of key areas where involvement is necessary and entails a significant financial contribution staked into the position.

*Minimum requirement
Ambassadors are required to stake their position for the value of $25,000 USD in COTI coins locked for a total of three years. A discount of 10% is provided on the value of COTI coins.

*Worldwide network
Ambassadors should actively participate in all of COTIís social channels and manage local community groups. Ambassadors are also tasked with implementing creative ideas across various social channels, contributing to existing COTI AMAs and hosting AMAs in their local communities. One blog post summarizing the ambassadorship role is also to be written within the grace period. If a COTI social channel is already managed in a specific geography, ambassadors will be required to cooperate with the existing network.

* Business network
COTI is looking for business leaders to present COTI with new adoption opportunities related to real-world merchants (with a minimum monthly sales volume of $50,000), SMEs, eCommerce, travel, crypto exchanges, education and any other industry requiring credit card processing. All ambassadors will earn 10% from the total net revenue generated in processing fees from each merchant referred to COTI. Earnings will be calculated on a monthly basis for a period of 24 months.

* Conventions and meetups
Ambassadors are the eyes and ears of major developments in their local area. They are required to host one small-scale local meetup every 3Ė6 months. Meetup discussions can revolve around COTIís new technologies, updates, partnership news, and any noteworthy developments. A larger-scale event is to be hosted every 6Ė12 months (e.g., a local meetup, webinar, speaking event, corporate event, etc.) Ambassadors are also tasked with visiting blockchain or fintech-related conferences at least once during the grace period and representing COTI at such events.

*   *   *   *   *

Registration to the ambassador program will officially open its doors in the coming weeks and the early birds who already pre-registered will receive their ambassadorís contract this week.

*   *   *   *   *

COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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2  Alternate cryptocurrencies / Announcements (Altcoins) / COTI is proud to introduce: COTI Universal Payment System (UPS) on: August 09, 2019, 09:13:04 AM
COTI Universal Payment System (UPS)



Abstract
Online payment platforms have yet to catch up with the times and are restrained by limited functionality and the lack of viable cryptocurrency solutions. PayPal and various other platforms are practical, but do not provide a full feature set designed to address digital payment requirements, inclusive of low FX costs and instant settlements.

The COTI Universal Payment System (UPS) reconciles the functionality of PayPal and other online payment gateways with that of the cryptocurrency world. COTIís UPS provides a comprehensive payment solution that combines all existing support systems of traditional payment processors with the added value of digital assets.

This includes:

  • Instant payments for merchants: funds are credited to the merchant immediately and are backed by stable coins, which reduces friction and high costs for all parties by eliminating price volatility and FX costs.
  • Universal processing of fiat and cryptocurrency: COTIís UPS enables buyers to choose from many popular cryptocurrencies like Bitcoin and Ethereum, as well as fiat.
  • COTI-X: allows consumers and businesses to buy, sell and swap crypto to and from fiat in the COTI Pay app.
  • Low fees: the COTI UPS eliminates the need for third party processors, which significantly reduces costs.
  • Buyer-seller protections: COTIís Universal Payment Solution covers physical and virtual purchases, as well as crypto and fiat payments.
  • COTI Interest: allows merchants to earn interest on stable coin account balances within the COTI Pay app.
  • Prepaid cards: virtual debit cards can be used in-store (e.g., NFC Tap and Pay, or QR code payments) and online for merchants not yet accepting crypto.
  • COTI Pay Plugins: allow the processing of crypto or fiat payments on any online store (e.g., Shopify, WooCommerce, Magento).
  • COTI SDK: allows developers to add retail payment features to any application.
  • COTI Whitelabel: enables merchants to issue their own coin and loyalty programs on COTI Pay. Merchant coins and loyalty points will remain internal to the COTI ecosystem.

Introduction
Cryptocurrencies have experienced prolific growth as of late, although Bitcoinís utility for everyday transactions is severely constrained. While Bitcoin payment gateways are useful for simple peer-to-peer payments, business to consumer (B2C) transactions remain challenging, and the most apparent of these challenges lies in cryptocurrency volatility. This has constricted adoption amongst merchants, as the value of a payment may be worth significantly less just seconds later.

Furthermore, the wide variety of cryptocurrencies has created a network of divergent protocols, which has limited consumer adoption. Transactions are also irreversible, making all sales final with no recourse for buyers or sellers. Finally, regulation is nearly impossible because anonymity is inherent to digital currency protocols.

Shortcomings from both the traditional online payment world and the crypto sphere exacerbate one another, resulting in a vacuum of customary buyer and seller services. COTIís Universal Payment System can fill this vacuum by introducing trust into the crypto world through buyer-seller protection and efficient crypto-to-fiat and fiat-to-crypto transactions.

For buyers, COTIís Universal Payment System provides a built-in buyer-seller protection system, which is a first of its kind, and is designed to eliminate transaction risks for buyers transacting in crypto and fiat. Furthermore, by accepting a large number of cryptocurrencies, COTIís Universal Payment System makes transactions simple and streamlined for buyers and removes the need for multiple wallets. Whatís more, the platform enables anyone to pay with crypto, even when merchants donít yet support crypto transactions.

COTIís Universal Payment System solves the volatility problem once and for all for both buyers and sellers. By immediately switching crypto payments into stable coins or fiat currency using COTI-X, COTIís internal settlement layer, merchants are protected from market volatility and enjoy the added benefit of instant settlements.

By reconciling the best features of traditional online payment platforms with the best of cryptocurrencies, the COTI Universal Payment System will be poised to radically change online payments. The platform COTI is creating can maintain trust for all parties by reducing potential risks for both buyers and sellers, while substantially reducing fees due to the platformís peer-to-peer nature.

Weíre Making Cryptocurrency Functional
Digital payment instruments in the United States and around the world consist of complicated financial settlement processes, costing merchants up to 4 percent in processing fees for purchases and involving up to twelve different entities (each a distinct point of failure). Meanwhile, losses from retail fraud in the US alone are continuing to reach all-time highs.

As it stands, the software that moves the vast majority of money around the world today still utilizes legacy systems created during the late 1970s. In the absence of compelling alternatives, consumers have been confined to the status quo. Since the creation of Bitcoin in 2008, blockchain communities have attempted to make cryptocurrencies a useful complement to traditional payment instruments like credit cards, debit cards, and cash. However, fundamental user-experience challenges, such as unintuitive QR code interfaces, complex address strings, new security protocols, and network capacity issues have hindered commercial adoption.

Various scaling solutions, such as multi-layer protocols and Proof of Stake (PoS) consensus algorithms, show considerable promise for improving the speed and utility of blockchain transactions, but create issues of complexity and incompatibility for merchants. A variety of mobile wallets are promoting cryptocurrency payment solutions but unfortunately rely on existing legacy infrastructures.

These wallets utilize virtual Visa and Mastercard debit cards with high fees and require bank accounts, physical cards and multiple tiers of centralization. Digital payments on these platforms are subject to low transaction limits (in some cases, less than $100), as well as Appleís restrictions for NFC access on iOS devices. Justifiably, these systems have extremely low consumer adoption due to high friction compared to typical payment cards.

It is critical that cryptocurrencies become widely accepted by merchants, as is the case with traditional payments, in order to gain mass adoption. Many companies have recently developed wallets and apps that enable retail blockchain payments, but they are universally dependent on existing payment networks. The promise of cryptocurrency has not been realized due to the need for credit cards, linked accounts, and centralized payment infrastructures to facilitate purchases.

The solution to blockchain payments is to create a cross-network solution that solves merchant and consumer needs, instead of building cryptocurrency acceptance over existing networks.

COTIís Universal Payment System represents a milestone in cryptocurrency utility for both merchants and consumers. It is the first network specifically designed to support everyday cryptocurrency payments by enabling instant, low fee transactions in-store and online.

Using a simple SDK, the COTI Universal Payment System enables developers to add retail payment features to any app, streamlining cryptocurrency acceptance for merchants and eliminating volatility exposure. It also provides instant settlements backed by a stable coin (interest-based asset), which protects merchants from clearance and settlement overheads.



While decades of retail payments confirm the pain points of fraud and processing costs for merchants, we find that consumer needs are distinctly different. Consumers evaluate payment instruments against five basic criteria:



In order for a viable cryptocurrency/fiat payment network to achieve meaningful scale, the following is required:

1. Real-time transactions
Merchants and customers should receive successful transaction confirmation within seconds.

2. No consumer-facing fees
Consumers will not pay a premium to use blockchain cryptocurrencies because such a cost represents negative value in their decision-making process. There should be zero fees on the consumerís end with competitive spending incentives.

3. Broad acceptance
Cryptocurrencies should be usable for daily expenditures to encourage consumer adoption. Otherwise, the mindshare required to maintain ďfront of walletĒ utility cannot be attained.

Meeting and dramatically exceeding these expectations will be challenging, but any new payment network must solve both consumer and merchant needs. We believe that COTIís Universal Payment System satisfies all the core consumer requirements necessary to disrupt the status quo of legacy payment systems.

COTIís Universal Payment System
COTIís Universal Payment System is an open network that enables instant cryptocurrency and fiat payments for both online and in-store transactions.



The COTI Universal Payment System facilitates payments from any wallet, coin and merchant across the globe. The vision for this new universal network is to become an open and seamless standard for cryptocurrency payments in online and offline environments.

COTIís Universal Payment System enables developers to integrate retail cryptocurrency payment features within their own apps. By creating the most simple and straightforward network, COTI will facilitate widespread cryptocurrency acceptance ó no longer requiring multiple payment gateways, processors, associations and financial institutions.

The COTI Universal Payment System Experience
In the COTI Universal Payment System, transactions are designed to be as simple as possible. With just a single tap and scan, the COTI Universal Payment System verifies user cryptocurrency balances against a public index rate and generates a proprietary transaction for any fiat- or crypto-based payment.

The COTI Consumer Ecosystem



  • Pay with Crypto

The COTI Universal Payment System solves the deficiencies of both fiat and cryptocurrency payments by making them seamlessly interchangeable. On the one hand, the COTI Universal Payment System unlocks cryptocurrencies from the confines of digital payments and makes them readily convertible into goods and services through supported payment systems and the COTI-X exchange. On the other hand, it creates a definitive liquidity network by freeing cryptocurrency from individual holders, thus making transfers simple, safe and transparent.



With the COTI Universal Payment System, purchases with cryptocurrencies can be significantly cheaper, faster and simpler than existing solutions. In addition to the COTI native token, COTIís UPS enables buyers to choose from many popular cryptocurrencies like Bitcoin and Ethereum.

  • Buyer-Seller Protection

As a well-known service, PayPal relies heavily on is its buyer-seller protection service, although it only covers purchases of tangible goods. BitPay does not cover any purchases, which makes transactions irreversible and leaves buyers exposed to potential fraud. COTIís Universal Payment System provides buyer protection by covering physical and virtual purchases (when applicable), as well as crypto and fiat transactions.

COTI guarantees buyer-seller protection on all eligible payments made in the COTI Universal Payment System.



  • Virtual Card

To connect the COTI Universal Payment System with other payment rails, the COTI Universal Wallet provides users with access to virtual prepaid cards linked directly to their wallets. These cards enable users to send payments from their COTI wallets when transacting with merchants who do not yet accept cryptocurrencies.

In the COTI Universal Payment System, users will be able to specify their preferred currency any time they create a virtual debit card. When a purchase is made using a card linked to a currency that does not match the transaction currency, COTI-X will automatically convert the currency amount from the prepaid card to the transaction currency, thereby mitigating third-party exchange fees. To this effect, using COTIís universal prepaid cards will be the simplest and fastest way to cash-out cryptocurrencies.

The COTI virtual debit card can be used to make payments online and anywhere where Visa or Mastercard are accepted offline.

The COTI Universal Payment Systemís prepaid cards are issued instantly, so there is no need to wait for a plastic card to arrive.




  • View the TrustScore of any Merchant

By fully migrating our TrustScore and Ranking mechanism and applying it to any infrastructure, we will empower any network to address the issue of trust between unknown parties. COTIís ranking mechanism can track the behavioral data of network entities, which is crucial for any service running on any platform, infrastructure or chain.

In the framework of COTIís Global Trust System (GTS), malicious parties are actively identified and addressed, while reputable behavior is tracked and incentivized. Moreover, the engine is customized per use case, as each industry faces varying levels of risk. By using the reputational scoring system, any infrastructure and chain will be able to leverage efficient behavioral tracking ó a data layer that is chiefly missing in the crypto world ó in order to maintain trust scores and risk indicators for all consumers and merchants.

The Trust Scoring Algorithm considers the following parameters when determining Trust Scores:

  • Account balance ó the aggregate value of transactions for each participant over a specific period of time.
  • Dispute occurrence ó the amount of transaction disputes that the participant has been involved in, if any.
  • Disputes won ó the amount of disputes that were resolved in favor of the participant.
  • Disputes lost ó the amount of disputes which were resolved in favor of the counterparty.
  • User ratings ó the ratings that other transacting parties have assigned to the participant, calibrated according to the Trust Scores of the parties providing the ratings.



  • Buy Crypto and Make Swaps Between Crypto/Fiat Using the COTI Wallet

The COTI Universal Payment System supports a variety of currencies, making it an easy-to-use payment solution. COTIís UPS is backed by the COTI-X currency exchange, which provides network participants with continuous access to liquid markets in a range of digital and fiat currency pairs. Any user who wishes to buy crypto or make swaps between crypto assets will be able to do so instantly using the COTI wallet.



The COTI Universal Payment System abstracts the complexity of currency exchanges from end users. The exchange functions as a foundational layer of the COTI Universal Walletís applications and services, operating in the background to ensure that participantsí currency exchange requests are fulfilled immediately. Rather than presenting an orderbook and bid/ask prices on every order, the user is presented with a single fixed rate, inclusive of any fees.

COTI UPS users can make instant and secure transfers to users holding COTI Universal Wallets. Transfers will be instant with low-to-zero fees (depending on the userís Trust Scores and selected currency). COTI Universal Wallet users will be able to use their wallets as de facto bank accounts for the purpose of holding funds in both digital and fiat currencies. At the start, funds can be deposited into COTI Universal Wallets using cards, bank wires, and several leading digital currencies.

  • Loyalty Plans

The COTI Universal Payment System offers unique, cross-platform consumer incentive plans. Consumers earn loyalty points on all their purchases, regardless of their payment method (fiat/crypto). To this effect, COTIís Universal Payment System is the worldís first reward program that provides crypto payouts for any token. The loyalty plans can be based on COTIís native coin, stable coin, or any merchant-dedicated token.



  • AML and KYC Procedures

The COTI Universal Payment System is adopting appropriate AML and KYC procedures to ensure that its network cannot be used to facilitate money laundering or other illicit activity. COTIís Universal Payment System is inherently not conducive to money laundering, as any COTI Universal Wallet holder must undergo onboarding procedures.

Notwithstanding its commitment to AML and KYC, the COTI Universal Wallet is similarly committed to protecting user privacy and has appropriate consumer data protection mechanisms in place. The added value of using the COTI Universal Wallet is that consumers only need to go through the KYC process once and have access to any merchant and any cryptocurrency through the COTI wallet and ecosystem.

The COTI Merchant Ecosystem
  • Crypto Payments On Any Website

COTI strives to expand its range of services with merchant crypto processing solutions. This will enable merchants to receive crypto payments on their website without needing to support crypto transactions on their own, nor to be subjected to volatility risks. This is because COTI enables instant settlements denominated in the merchantís stable coin, or any other currency of choice. This solution encompasses a ĎPay with cryptoí button that can be easily integrated into merchant websites.

COTIís Universal Payment System offers a simple working mechanism, as it integrates with a merchantís checkout flow and can be added as a payment option in the shopping portal. Any cryptocurrency payment sent by a customer gets credited to the merchantís wallet account. The merchant benefits by gaining access to a global customer base and a hassle-free mechanism to receive borderless digital currency payments. Both the customers and merchants benefit from low crypto transactional costs, compared to high fees levied by credit card processors. Using such virtual token payments also eliminates high foreign exchange rates.



The COTI Universal Payment System supports payments in Bitcoin, Bitcoin Cash, Ethereum and all other popular cryptocurrencies. It offers easy to use tools for merchants to set up their accounts and begin accepting digital currency payments. COTIís UPS can be easily integrated with leading e-commerce platforms like WooCommerce (WordPress), Shopify, Magento and more.

After completing account setup, merchants are granted access to the COTI Universal Payment System dashboard, which enables them to view their cryptocurrency balances, payments, checkouts, and other necessary details.

All payments sent through the COTI Universal Payment System are on-chain payments. Transactions are recorded in real-time on the respective cryptocurrency blockchain and rely on blockchain mechanisms for validation, authentication and fraud elimination.

  • Traditional Payment Method Support



As part of our Universal Payment Solution, COTI removes the barriers of adoption for any merchant by offering both crypto and traditional payment processing. The COTI Universal Payment System also utilizes a payment processing gateway to accept fiat/credit from consumers, while providing the added value of instant settlements utilizing the COTI stable coin, or any other token offered on the platform.

This will assist COTI with generating more adoption by providing the necessary features expected from well-known payment platforms. In subsequent stages, the COTI UPS will enable credit issuers, like banks and e-commerce companies, to issue their own token in the COTI network and benefit from immediate access to network users.

  • Buyer-Seller Protections

Traditional payment solutions like PayPal have a lengthy dispute resolution process that can take up to several months to be settled. COTIís unique dispute resolution system consists of a decentralized collective of highly trusted network participants who vote on disputes. This allows the network to offer decentralized human-input services to participants in cases of fraud, error and counterparty abuse. The arbitration service creates a rolling reserve for each merchant to cover possible claims, as well as a system-wide Reserve Credit Fund (RCF) to guarantee it.

  • Trust-Based Rolling Reserve

The COTI Universal Payment System employs a performance-based analytics algorithm to evaluate sellers. High merchant performance drives down hold periods, which encourages sellers to perform better over time while increasing buyer confidence. In a best-case scenario, top sellers will see their hold times virtually eliminated and can obtain their funds near instantaneously.

The rolling reserve is a share of a merchantís transactions that is temporarily set aside to cover potential business risks, such as when a merchant loses a mediated dispute and must compensate the consumer. The arbitration service creates a rolling reserve for each merchant to cover possible claims and a system-wide Reserve Credit Fund (RCF) to guarantee it.

Compared to traditional payment systems, the required size of a merchantís rolling reserve is calculated based on the merchantís Trust Score. The rolling reserve is used when a merchant has lost a mediated dispute and is required to compensate the consumer. Merchants that do not meet the rolling reserve requirements will forfeit their ability to sell goods and services in the COTI network.

  • Interest on Accrued Balances

Many crypto investors store their digital assets on exchanges or in cold storage for long-term safe keeping. However, this strategy doesnít contribute to increasing wealth and investment holdings. To this end, merchant accounts are supplemented with interest accounts that enable them to earn interest on their accrued balances.

In the COTI Universal Payment System, merchant accounts can earn interest on accrued balances, which is an easy way to earn supplemental revenues from their balances, instead of being tied to other platforms like PayPal and BitPay.

  • Instant Settlements

In COTIís Universal Payment System, the entire lifecycle of a transaction ó authorization, clearing, and settlement ó occurs immediately. With digital assets, the cryptographic keys and digital imprint provide trust and security without the need for time-consuming steps.

Funds are credited to the merchant immediately and are backed by stable coins, which reduces friction and high costs for all parties. The entire process is made up of a few simple steps that require a few seconds to complete instead of three days. Instant settlements in COTI are backed by a stable coin generator that ensures the transaction from the merchantís end and removes all settlement risks and delays.



  • CRM

The COTI Universal Payment System provides access to a dashboard that supplies detailed data and reporting functionality on fiat and crypto transactions. Merchants can choose which currencies they wish to accept, as well as their preferred settlement currency. They can also select their preferred settlement time and whether they wish to hold their balance and earn interest, or settle instantly.


COTI Pay Business

Merchants will have access to a CRM where they can view instant settlement limits and prices and choose the amount they wish to withdraw.

The dashboard COTI MainNet Ecosystem
Apart from the COTI MainNet being the catalyst for the COTI Universal Payment System, it will also support third party usage and streamline integrations via:also provides merchants with wallet-like functionality that enables them to make payments to COTI Universal Wallet holders, to other COTI merchants and to access the COTI-X exchange.

Whitelabeled and Dedicated Merchant Tokens

COTIís Universal Payment System supplies a fully customizable and modular solution that supports developers in creating white-labeled payment networks and tokens for specific use cases.



  • Instant Settlement Issuers and Marketplaces



As the COTI Universal Payment System expands to support more and more consumers and merchants, a marketplace for instant settlements driven by token and stable coin issuers can be created with a variety of services, inclusive of:

1. Credit or factoring products provided to merchants to solve cash flow problems.
2. Earning of interest on account balances and crypto transactions
3. Managed balance accounts
4. Lending platform issuers
5. Bank-supported stable coins that can be redeemed to the merchantís bank account immediately
6. Tokens backed by local merchant currencies that can be cashed out instantly
7. Existing stable coins with real use cases
8. Insurance products for high risk merchants. Acquirers typically do not send funds to merchants due to high CHB ratio, fraud to sale, fraudulent activity, etc.
9. Stable coin marketplace that provides merchants with the option to select their preferred settlement currency. Coin issuers, or potential issuers like banks, will also have the opportunity to add their stable coin as a settlement currency.
In the future, we may have geolocalized stable coins to reduce merchant conversion costs. These tokens can be issued on the COTI MainNet for streamlined deployment, price stability, high scalability, and low fees.
10. Remittances with instant transfers and settlements with minimal fees.


*The image is only for illustration purposes and does not represent commercial agreements

Summary
The COTI Universal Payment System provides a gateway to support payments for goods and services and lowers the barriers to entry for merchants aiming to upgrade their payment infrastructure while eliminating intermediary costs. Utilizing COTIís Universal Payment System as a payment method in online and offline environments opens up new business opportunities, while optimizing traditional payment processes, particularly where instant settlements are concerned.

The COTI Universal Payment System is backed by a network of tools and services that support both crypto and fiat payments and can be seamlessly integrated into any merchant interface. COTI creates a feasible link between merchant economic activity facilitated by fiat and crypto payments and COTIís UPS as a medium for effectuating all transaction activity.

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COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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3  Alternate cryptocurrencies / Announcements (Altcoins) / Introducing COTIís Global Trust System (GTS) on: July 29, 2019, 12:56:05 PM
Introducing COTIís Global Trust System (GTS), an advanced layer of trust for any blockchain
By Dr. Nir Haloani, COTIís CTO


COTI CTO, Dr. Nir Haloani

Summary:

  • A trustworthy environment is absolutely essential for the widespread adoption of cryptocurrencies.
  • COTI has developed a unique Trust Score node in its infrastructure to monitor user behaviour and calculate trust scores as part of its consensus mechanism.
  • The Trust Score node is now offered as a service on other chains as part of COTIís endeavour to introduce more trust and adoption to any blockchain system.
  • This Trust Score node is part of COTIís Global Trust System (GTS), made up of a blacklisting layer to flag fraudulent actors; transaction classification to differentiate high-risk and non-risk activity; and a trust scoring mechanism based on accumulated information and historical performance.
  • The COTI GTS connects to all networks and analyzes transaction and behavioral data, updating each entityís trust score in real time.
  • By using the COTI GTS, malicious parties will be actively identified, while reputable behaviour will be tracked and incentivised.

Introduction
Trust is the most important aspect for any effective monetary system. While the distributed architecture of blockchain technology on which cryptocurrencies operate has many advantages, user anonymity on blockchain has provided criminal users with the ability to conceal their identity and illegal activities. In order to distinguish law-abiding users from potential threats in the blockchain ecosystem, COTI is presenting an innovative Global Trust System (GTS) that can analyze historical fraud to profile transactions and classify them into risky and non-risky categories using several machine learning techniques and finally calculate a reputation score for every user.

The lack of regulation in borderless technologies presents the challenge of preventing fraud and market manipulation. This is typically handled by central authorities like governments and central banks, as an essential requirement for money to work is trust. Trust has worked as a pillar for monetary exchanges from early civilization, beginning with barter systems and moving on to broader aspects of society-wide monetary systems. Without trust, the honest exchange of goods or services in return for currency payments would be infeasible, and cryptocurrency is no exception in this regard. A trustworthy environment is absolutely essential for the widespread acceptance of cryptocurrency. Transparency is a great generator of trust, and it has a long history as a tool for anti-corruption and anti-money laundering.

A trust mechanism in the form of a reputation score for all users transacting in any blockchain network could alleviate potential illegal activity which negatively impacts good actors. The COTI Global Trust System will enable any infrastructure users to identify and avoid risky parties when sending transactions. In order to mitigate risk, we have built a proprietary scoring mechanism that interprets the trustworthiness of a user in any cryptocurrency network.

Global (Cross-Chain) Trust Scoring System



Transaction Profiling and Scoring Mechanism
Risk is inherent in any transaction, and the potential for fraud exists between any number of transacting parties. While certain measures can be taken to reduce such risks, each party places trust in the other to fulfill its end of the agreement. In order to mitigate this risk, we are introducing the COTI Global Trust System (GTS), which first creates a blacklist of users that are known to be tied to fraudulent activity. Secondly, we are implementing classification techniques to profile all transactions based on their associated risks. Finally, the scoring mechanism, a byproduct of transaction profiling, is a measure of trustworthiness at the user level.

The Blacklist
Blacklisting is one of the primary techniques that organizations use to safeguard the public from financial scams, malicious web pages and many other forms of Internet fraud. In our approach, blacklists identify entities that good actors should avoid transacting with. Our blacklist is continuously updated with all known fraudulent entities, so that users can fully vet them prior to transacting. Once the fraudulent entity is identified, the scoring mechanism generates a warning to inform users of the entityís blacklisted status, thus providing the benefit of lookup efficiency.

Transaction Profiling and Classification
Every transaction has a specific pattern and this pattern recognition is the key to differentiating high risk and non-risk transactions. We leverage the information gained from past transactions associated with an address and identify similarities between new transactions and an established prototype. Any such similarity would determine a new transactionís propensity to be risky. We use a variety of machine learning techniques to successfully perform this classification task. Transactions are analyzed based on a set of quantifiable characteristics and are then classified into specific subclasses through a distance function. Successful profiling largely depends on the degree of classification accuracy.

What is the COTI Universal Trust Score?
User trust scores can be viewed as a combination of contributing bonuses and penalties, such as contributions from successful transactions and penalties from irregular behaviour. It seems natural that each of these contributing factors would decay over time, so that more recent events have the most influence over the current user trust score. It would also be logical for different components of the trust score to decay at different rates depending on their severity. For example, if someone has committed serious fraud, then the penalty will decrease slowly with time. This is in contrast to the penalty for a small misdemeanor, which will decay faster and have a smaller long-term impact.

To compute the Trust Score of any entity, two basic components are required: feature variables and labels. The feature variables include every possible attribute that we should measure for a user at a specific point in time (e.g., prior data, actions on the network, etc.), while the labels assign a value to each of these cases. We generally think of the feature variables as determinants of data point positioning in a high dimensional space, and the labels as deciding how to illustrate it.



In the COTI GTS, we define general purpose features that are then used for the ongoing TrustScore (TS) calculation (in the past k transactions / in the past t timespan). Some of the features include:

  • Number of successful transactions
  • Number of disputed transactions (disputes lost)
  • Number of transactions attempted or made that do not adhere to the networkís rules (with no obvious fraudulent intentions)
  • Number of possible attempts to double spend/defraud. Actions like this must be critically dealt with to prevent a participant from perpetually building up a high trust score only to attempt defrauding other participants. There should either be a permanent and significant reduction in the participantís Trust Score, or an extremely slow increase in the Trust Score.
  • Frequency of network use. We cannot expect ordinary users to use the network with the same frequency as merchants, so the user type is taken into account.
  • User type ó the wide range of possible users impacts the trust score awarded to each user type and classification.
  • Network centrality

COTI Universal TrustScore Ranking Mechanism



The TrustScore of every entity within the network is appointed in three steps. The first step is the creation of a profile and blacklist analysis based on historical interactions, fraud and blacklisting, as well as analyzing real time behavior of all entity interactions. The blacklist provides good actors with a list of potentially fraudulent entities that they should avoid transacting with. The second step involves a classification module to differentiate good actors from malicious ones. Based on the classification, a metric in the form of a risk score indicates a userís degree of involvement in malicious transactions. The risk score metric serves as a basis for reputation scoring.

With a successful classification algorithm, a scoring mechanism will designate various user categories. Users with a reputation score below a certain threshold are identified as bad actors. A continuously updated blacklist works as an operating manual for secured transacting across any blockchain network.

The COTI GTS aggregates and connects to all networks to analyze transaction and behavioral data and update each entityís trust score in real time. By connecting directly with any infrastructure, the COTI reputational management system will be able to collect and analyze all the transactions and specific events related to each platform and ecosystem and adjust the TrustScore feature accordingly.



How it works:

Reputation scoring is widely used in many domains to measure the trustworthiness of a target (e.g., a user or service) based on accumulated information and historical performance. Users observe events that immediately follow a targetís behavior, which determines how they perceive the experience. Events depend on a context and can be, for instance, voiced opinions, transactions, or signed documents. As such, a targetís reputation is a collective measure of trustworthiness accumulated from user experiences. In reputation systems, users can rate the behavior of other users by expressing their direct judgements. The COTI GTS layer aims to calculate the resulting reputation score by collecting, distributing and aggregating the pieces of evidence (events) concerning a targetís behavior in any blockchain network. As a result, before transacting with a target (whether internal or external), the user can consider the targetís reputation and only transact if it is deemed trustworthy.

The COTI GTS framework uses several models to aggregate trust information and compute scores, namely flow-based reputation models and subjective logic. Flow-based reputation models provide an automated way to aggregate all available trust information.



In the first phase, The COTI GTS will be integrated into top infrastructures and aggregate TrustScore information from all of them:

  • The COTI Reputation Database and classification will be set per infrastructure.
  • Each infrastructure or dApp build atop an infrastructure can connect directly with the COTI GTS through REST API.
  • The COTI GTS will also be available publicly on the COTI domain for tracking and searching specific address-related insights and reputational information
  • Any transaction on any network can use the API to receive the address TrustScore and base flow, consensus and approval.
  • The TrustScore can be easily integrated into any application, smart contract, or oracle use case.



What is next?

In the upcoming weeks we will:

  • Announce our first infrastructure partners who will be integrating the COTI Global Trust System
  • Release the first version that will support two top infrastructure scoring layers
  • Partner with oracle and third party data providers to enhance events and aggregations supported by the platform framework.

Summary
By fully migrating our TrustScore and Ranking mechanism and applying it to any infrastructure, we will empower any network to address the issue of trust between unknown parties. COTI has developed a ranking mechanism to track the behavioral data of network entities, which is crucial for any service running on any platform, infrastructure or chain. In the framework of COTIís reputational scoring system, malicious parties are actively identified and addressed, while reputable behaviour is tracked and incentivised. Moreover, the engine is customized per each use case, as each industry faces varying levels of risk. By using the reputational scoring system, any infrastructure and chain will be able to leverage efficient behavioural tracking, a data layer that is chiefly missing in the crypto world, in order to maintain trust scores and risk indicators for all consumers and merchants.

*   *   *   *   *

For other COTI news, you can stay up to date on our Telegram channel.

COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf
4  Alternate cryptocurrencies / Altcoin Discussion / COTI's new partnerships! on: July 15, 2019, 09:22:22 AM
COTI is amplifying its data transparency in partnership with Xangle

COTI has always been about transparency, and weíre now partnered with Xangle to make doing what we say and saying what we do even more transparent. View our Xangle profile here.



Everyone has come to know what the cryptocurrency boom has brought with it in terms of ethical and questionable contenders. There have been countless discussion loops around non-transparent token metrics, pump and dump schemes, crypto projects with no real use case and ICOs with empty promises. The possibility of quickly turning a profit in a nascent industry with lack of regulatory oversight in many regions has attracted companies that are only in it for the money and short-term gains.

This is why companies like Xangle have recently emerged and are working to ensure information transparency in the crypto industry. Xangle is the most accurate disclosure platform for crypto assets and is the ultimate source of business intelligence, analysis and news for token projects. All companies featured on the Xangle platform must undergo a comprehensive vetting process to ensure that investors receive all the necessary information to make informed decisions.

At COTI, we always want to instill confidence in our community. Weíre building an entire technology based on trust, so itís only natural that we have the trust of our entire network. This is why weíre excited about our partnership with Xangle and continuing to ensure transparency across all of our product life cycles and business activities. All of Xangleís findings are included in a due diligence report that is published for both exchanges and institutional clients. You can visit COTIís Xangle page anytime for up to date token information, partnerships, roadmap developments and more.

About Xangle

Xangle is a public information disclosure platform that aims to bring legitimacy to the global crypto asset market. While it serves as a raw data platform for the general public, it also provides due diligence for exchanges and institutional grade reports for the traditional corporates based on its comprehensive information framework.

Xangleís standard for information disclosure is based on the established disclosure framework of the traditional financial market such as DART (S.Korea), EDGAR (US) and international credit rating corporations (S&P Global Ratings, Moodyís, Fitch). These have been re-interpreted to meet the needs of the crypto market.

Xangle covers the full scope of fundamental information needed to perform due diligence, including both Ďon-chainí token data, company and business information. By bringing many projects, exchanges and investors together in one place, Xangle is set to enable effective information discovery and the adoption of crypto assets by traditional players.

*   *   *   *   *

We invite you to check out our official Xangle profile here.
For more information on COTI, you can visit our website and join our Telegram group or channel.


*   *   *   *   *

COTI Resources
Website: https://coti.io
Telegram: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                 
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COTI partners with BIFROST to develop its interoperability solution


COTIís latest partnership with BIFROST is advancing interconnected blockchain solutions

For digital currencies to be widely adopted, there is an inherent need for interoperability between ledgers and currencies to eliminate friction. The recently developed COTI Cross Chain Bridge is a game-changer that enables COTIís Trustchain to communicate directly with other MainNets, creating an interconnected value chain. Now, BIFROST will be able to harness this capability to build its own bridge and import COTIís dispute resolution system and POS support into its platform.



BIFROST is a middleware platform that connects between dApps and third party protocols. Earlier this year, BIFROST released a pilot version of Ethereum and its TPS rose to 750, with gas fees dropping by 75%. BIFROST also recently demonstrated that they can combine Ethereum and other protocols using EVM (Ethereum Virtual Machines) for scalability to increase Ethereumís TPS to 3,000 using Amazon Web Services (AWS).

ďWeíre looking forward to break ground on our new interoperability solution, and COTI is uniquely positioned to drive these efforts forward. BIFROST is proud to be among the projects that are working towards creating interconnected blockchain systems,Ē said Dohyun Pak, BIFROSTís CEO and co-founder.

Dohyun Pak, BIFROSTís CEO and co-founder

COTI CEO Shahaf Bar-Geffen added:
ďWe believe that as more blockchain-based protocols work together to create a unified internet of value, the chances of making digital currencies mass adopted will increase exponentially. Weíre excited about the strides that the Korean market is taking towards this objective, and are pleased that BIFROST is at the fore of innovation.Ē

COTI CEO Shahaf Bar-Geffen

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For further information, visit COTI and BIFROST. You can also join COTI Telegram group, and BIFROST official global community.

                                                                 
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5  Alternate cryptocurrencies / Altcoin Discussion / COTI has bridged with Binance Chainís BEP2 on: July 10, 2019, 12:33:47 PM
COTI has bridged with Binance Chainís BEP2

Today, we have opened the bridge between COTIís Trustchain and Binance Chain. This bridge enables seamless swaps between COTI coins and COTI BEP2 tokens.



COTIís Cross Chain solution will open up COTI to Binanceís ever growing ecosystem while bringing new abilities to BEP2 tokens such as dispute resolution, the Trust Score Protocol, one-click payments and more. You can read more in our recent article.

To make a swap between both currencies, visit this link.



COTIís Cross Chain Bridge allows users with COTI coins to cross the bridge and swap their coins to COTI BEP2 tokens and vice versa, which adds another level of liquidity support for the entire community. There are no concrete requirements to swap tokens from our MainNet token to any other platformís supported tokens, and users can switch between both sides.

Access the bridge: https://bridge.coti.io/
View the Cross Chain Bridge tutorial here.

COTI has leveraged Fantomís open source BEP2 bridge technology to build the COTI BEP2 bridge. The Fantom BEP2 open source bridge code can be found here ó https://github.com/Fantom-foundation/bnbridge.exchange

*   *   *   *   *

We have also submitted our proposal on Binance DEX! We invite you to read it here and to submit your votes. Many thanks to the COTI community for your continued support.

COTI Resources

Website: https://coti.io
Telegram: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                 
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6  Alternate cryptocurrencies / Altcoin Discussion / Binance Dex Proposal Vote Guide on: July 08, 2019, 12:43:20 PM
Binance Dex Proposal Vote Guide

COTI has just submitted its proposal for listing on Binance DEX! We invite our community to take part in the process by casting votes for COTI and showing us even more of the amazing support we have received from the beginning! Check out this short guide to see how to send in your votes, comments and questions. Weíre so happy to have you be a part of this next major step at COTI, see you in the forum!



Binance Chain voting guide:

Go to the Binance Chain homepage and register here. The process is very quick and simple!

Check your mailbox and verify your email before moving forward.

Once you register, go to COTIís proposal: https://bit.ly/2LanimX

You will now see the entire proposal deck, where you can find all the questions and answers related to COTI.

Scroll down to the end of the proposal, just before the comments section. You will be able to upvote by clicking on the little up arrow. Itís as simple as that!



We would really appreciate dropping a constructive comment or question about COTI.

Now, we have a personal message to you from Samuel Falkon, COTIís co-founder and VP of business development. Click to watch.

Read our latest article announcing COTI to issue a BEP2 token on Binance Chain as part of its interoperability solution and unlock new value.

Follow COTI for our news and updates:


                                                                    
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7  Alternate cryptocurrencies / Altcoin Discussion / COTI to issue a BEP2 token on Binance Chain on: July 08, 2019, 08:58:18 AM
COTI to issue a BEP2 token on Binance Chain as part of its interoperability solution and unlock new value



Summary:

  • COTI is among first mainNet native coins to issue a BEP2 token
  • COTI will be issuing a BEP2 token and bridge COTIís Trustchain with Binance Chain
  • suance took place on 5 July 2019, while the bridge launch is scheduled for 10 July, 2019
  • COTIís Cross Chain solution will open up COTI to Binanceís ever growing ecosystem while bringing new abilities to BEP2 tokens such as dispute resolution, the Trust Score Protocol, one-click payments, and more
  • COTI will be submitting an application to Binance Chain community to get listed on Binance DEX

*   *   *   *   *

COTI believes that for digital currencies to be widely adopted, there is an inherent need for interoperability between ledgers and currencies to eliminate friction. However, the choice of underlying blockchain technology cannot be easily modified because transactions only have scope within their blockchain address space.

To solve these issues, COTI develops a cross-chain gateway between the COTI MainNet and other MainNets. It allows for seamless integration with the added value of supporting native ledger features, such as scalability, staking, governance, buyer-seller protections, one-click payments, trust scoring and more. This enables communication between different DLTs for cross-ledger operations, regardless of address differences, ledger implementations, and consensus mechanisms.

COTI is in the process of issuing a BEP2 token to be used on Binance Chain as part of its interoperability and universal payment solution. The bridge COTI is building to link COTIís Trustchain with Binance Chain is set to launch on 10 July, 2019 and will enable seamless swaps between COTI coins and BEP2 tokens.

Enterprise clients and merchants using COTIís technology will be able to easily swap Trustchain-based tokens and Binance Chain tokens, and leverage the ever growing Binance ecosystem. This integration is also poised to provide cross-chain support, as apps developed over Binance Chain can use a number of COTIís services. Such services include dispute resolution, the Trust Score protocol and one-click payments, as well as POS and pre-paid card support, which enable Binance Chain tokens to be widely accepted.

Dispute resolution enables Binance Chain users to take advantage of buyer-seller protections when transacting in the Binance ecosystem
The arbitration layer is a protocol designed to solve buyer-seller disputes. Disputes are resolved by an arbitration jury randomly selected from a large pool of highly trusted network participants.

The arbitration process is fully decentralized and not susceptible to collusion or third party bias. By integrating with the COTI Trustchainís arbitration layer, Binance Chain will benefit from a dispute resolution token (COTI-B), which can serve as a buyer-seller protection mechanism. This is a feature that is largely absent from current crypto-based payment systems.



The Trust Score Protocol on Binance Chain enables the Binance ecosystem to leverage efficient behavioural tracking, a data layer that keeps trust scores for all consumers and merchants.
COTI has developed a ranking mechanism to track the behavioral data of network entities, which is crucial for any service running Binance Chain. Malicious parties are actively identified and addressed, while reputable behaviour is incentivised. Moreover, the engine is customized per each use case as each industry faces varying levels of risk.



One-click payments add a frictionless payment option to Binance Chain.
Most blockchain platforms donít provide the infrastructure and tools required for embedding a Pay with PayPal-like button to accept digital payments simply and instantly. COTI has developed the Payment Request feature in its infrastructure as a solution for one-click payments. It provides consumers with the ability to make purchases without filling in personal details and forms during the checkout process. Using COTIís Payment Request feature, Binance Chain dApps can embed a payment button on every ecommerce website.



POS and pre-paid card support enable Binance Chain tokens to be accepted everywhere
COTI has developed integration tools for in-store point of sale (POS) devices and has signed a partnership enabling it to issue international prepaid cards using digital coins. By creating an interoperability system, COTI will enable Binance Chain-based tokens to be widely accepted in stores using prepaid cards.

*   *   *   *   *

COTI will be submitting an application to Binance Chain community for Binance DEX listing approval soon and will add liquidity support and more features shortly after. For more information, visit COTI.

Follow COTI for our news and updates:

                                                                    
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8  Alternate cryptocurrencies / Altcoin Discussion / COTI to be listed on BitMax on July 3rd, 2019! on: July 04, 2019, 01:03:07 PM
COTI to be listed on BitMax on July 3rd, 2019!
COTIís first listing was just one month ago, and we are pleased to announce that we have now moved on to our second listing with another leading exchange platform!




COTI recently completed its IEO, first listing on the digital asset trading platform KuCoin and launched its MainNet. We are pleased to announce that we have now moved on to our second listing with BitMax.io!

COTIís listing on BitMax will be taking place on 3 July, 2019 at 10:00 am EDT. The listing will be based on COTIís ERC-20 tokens. Making swaps between COTIís ERC-20 tokens and Trustchain coins is simple and easy through COTIís Cross Chain Bridge (read the tutorial here). This means that if you have COTI coins in KuCoin you can make an instant swap to COTI ERC-20 tokens in BitMax and vice versa.

Watch COTIís Cross Chain Bridge ó Video tutorial

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For more information on COTI, you can visit our website and Telegram channel.

COTI Resources
Website: https://coti.io

Telegram: https://t.me/COTInetwork

Github: https://github.com/coti-io

Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

Token economy overview: https://coti.io/files/COTI-Token-Economy-2019.pdf

                                                                    
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9  Alternate cryptocurrencies / Altcoin Discussion / COTI ERC-20 Token Interoperability on: July 04, 2019, 12:57:56 PM
COTI ERC-20 Token Interoperability



Since blockchain technology was first introduced to the world nearly 10 years ago, the number of different blockchains and protocols has increased exponentially. However, instead of this evolution resulting in a highly interconnected internet of value, all blockchains to date, including Bitcoin and Ethereum, have existed in isolation. This isolated state has precluded the many blockchains from interacting with one another, hampering the exchange of value among chains and limiting the mass adoption of blockchain technology.

As a result, finding a solution that allows for cross-chain transactions has become one of the top priorities in the blockchain industry. COTIís Cross Chain Bridge is a significant milestone for the entire blockchain space, marking a major step toward fulfilling the vision of a completely interconnected internet of value. COTIís Cross Chain Bridge allows for seamless integration with almost any blockchain in existence with the added value of supporting native ledger features, such as scalability, staking, governance and more. The platform is now fully connected to the Ethereum blockchain and has the capabilities and development plans necessary to scale.

This new functionality, which is achieved through a combination of smart contracts, enables Ether to be transferred cross-chain from Ethereumís blockchain and accurately represented 1:1 on COTIís platform with a token known as COTI (ERC-20). It is important to note that COTI will maintain the same token supply. Nothing will ever change with regard to that, and we will not dilute or tamper with the supply. One COTI coin can exist either on Ethereum or on the Trustchain, but not on both at the same time.


COTI total supply remains the same

Available application scenarios for COTI (ERC-20):
  • Ethereum smart contracts: the ability to issue a smart contract and use it to deploy contracts on COTIís platform and allow for more sophisticated payments within the COTI ecosystem, such as subscriptions, conditional payments, lockups etc.
  • Liquidity: open a larger market for adoption and increase the liquidity and availability of COTI tokens on exchanges.
  • Faster deployment on exchanges: ERC-20 tokens experience simpler and faster listings, as they are supported by all exchanges.
  • Immediate support for hardware wallets: due to technical differences between the COTI Trustchain infrastructure and common blockchains, COTI has not been supported across hardware solutions to date. However, this is a task the team is working hard to overcome, and hardware support will be available in the coming months. As we add support for ERC-20 tokens, it will be possible to store tokens on a cold wallet like the Ledger Nano S or Trezor and stake your coins through it to make earnings via specific dPOS and POS networks.
  • By issuing COTI (ERC-20), the Ethereum platform will be powered with COTIís unique capabilities, including:

1. Cross chain support: Ethereum-based apps can solve their payment needs with COTI, while COTI-based apps can grow their scope using Ethereumís infrastructure.

2. COTI technologies, data, and platforms to be used by COTI (ERC-20):
a. TrustScore/ranking API
b. KYC/AML server
c. Dispute resolution
d. Payment requests

How does it work?

Introducing the COTI Cross Chain Bridge



The COTI Cross Chain Bridge is the gateway between the COTI MainNet and other MainNets. The first bridge introduced links to ERC-20 liquidity tokens on the Ethereum MainNet.

COTIís Trustchain coins can cross to other MainNets or cross back to the Trustchain through the bridge. We also plan on embedding the bridge in COTIís GUI wallet.

There are no concrete requirements to swap tokens from our MainNet token to any other platformís supported tokens, and users can switch between both sides. Swaps through the bridge incur the transaction fees of each respective network.




Read and watch the COTIís Cross Chain Bridge Tutorial here.

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Whatís next?

Bridge support between COTI Trustchain and COTI ERC-20 is now live. COTIís Cross Chain Bridge allows users with COTI coins to cross the bridge and swap their coins to ERC-20 tokens, which adds another level of liquidity support for the entire community. At the moment, users can make swaps from COTI Trustchain coins to COTI ERC-20 tokens. Additional chain support will be added soon to increase capabilities and liquidity.

Access the bridge: https://bridge.coti.io/

Watch the video tutorial here.

*   *   *   *   *

Summary

As integrations with additional blockchains continue to be added, COTIís new cross-chain technology is set to pave the way toward a future where individuals and enterprises can gain access to a decentralized platform offering privacy-protected financial services, such as digital asset management and exchanges, loans and credit payments. The possibilities do not end there, COTIís cross-chain bridge opens entirely new worlds of opportunities across many industries.

COTI Resources
Website: https://coti.io

Telegram: https://t.me/COTInetwork

Github: https://github.com/coti-io

Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

Token economy overview: https://coti.io/files/COTI-Token-Economy-2019.pdf

                                                                    
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10  Alternate cryptocurrencies / Altcoin Discussion / COTI Interoperability and Universal Payment Solution by Dr. Nir Haloani on: June 27, 2019, 03:23:45 PM
COTI Interoperability and Universal Payment Solution by Dr. Nir Haloani


COTI CTO, Dr. Nir Haloani

Introduction
The current technological landscape for blockchain makes it harder, if not impossible, to build a common interface for distributed ledgers. The ability to increase accessibility, link disconnected systems and enable quick value transfer are crucial factors that will drive the mass adoption of many fintech products.

COTIís universal payment solution and cross-chain support are needed for the widespread adoption of blockchain applications and interoperability amongst them.
A number of COTI services can be imported by other chains, including dispute resolution, the trust score protocol, one-click payments and multi-currency ledger support.

COTIís application is built in a way that provides the flexibility in supporting both the infrastructure and ledger layer of todayís most popular and promising infrastructures, such as Ethereum, Binance, Cardano, EOS, Bitcoin and NEO.

The crypto industry promotes different model designs favouring functional and performance aspects over others to meet specific business goals. Currently, there are more than a thousand digital currencies and tokens and thousands of blockchain projects under development in different sectors worldwide. The current blockchain ecosystem is too fragmented and complex, with progress being achieved in silos. The variation of blockchain designs and their possible configurations represent a hindrance for enterprises, software architectures and developers.

Heterogeneous development drives down blockchain interoperability and compatibility within blockchain networks, as well as existing traditional finance networks. In other words, the ability of blockchains to exchange information between themselves and with off-chain systems is adversely impacted. This lack of interoperability between networks and infrastructures is a threat to the widespread adoption of blockchain applications in technological and socio-economic frameworks.

Apart from the existing technical challenges, the lack of interoperability between ledgers also presents business risks. A major concern lies in how to increase interoperability between ledgers and assets while maintaining privacy in each one. Thus, as was the case with the Internet, itís necessary to provide off-the-shelf software and development tools that simplify developing and deploying distributed ledger (DLT) applications without requiring developers to build certain components from scratch. By addressing the above risks, decentralised applications can grow and become increasingly interoperable and widely adopted.

Empowering the COTI ecosystem with multi-token support
In order to address the problem of blockchain interoperability, software reference architectures for blockchain interoperability should be set up. However, the majority of existing technologies connecting DLTs define an interoperability standard within their platform, not outside of it.

Integrating with legacy DLTs and others is challenging to implement, which is why selecting the correct technology is crucial. It is difficult to foresee which technology will be the most suitable, even in the short term without the uncertainty presented by other external factors such as technologies forking, becoming insecure, or being abandoned altogether.

In developing blockchain applications, the choice of underlying blockchain technology cannot be easily changed. Migrations arenít always possible because transactions only have scope within their blockchain address space. Migrating applications is a problem that will soon apply to solutions running on Ethereum. This is an endless challenge, and the solution doesnít merely lie in designing better and smarter blockchains. Front-end technologies of today will become obsolete in a few years due to planned and unplanned obsolescence.

To solve these issues, COTI presents a multi-token strategy and interoperability solution that will support:

1. Communication among different DLTs for cross-ledger operations.
2. Adaptable technology that can change to meet new sector-specific requirements and regulations.
3. Abstracting ledger dependent technology to overcome the limits of various architectures, regardless of addresses, ledger implementation and consensus mechanisms.
4. Building apps based on COTIís ecosystem using other infrastructures, while powering any network with COTIís unique infrastructure capabilities.
5. The ability to easily support any other infrastructure and integrate it with payment and stable coin apps.
6. Seamlessly integrating a host of COTI services to enrich other infrastructure networks, e.g.: arbitration, payment requests and trust scores.


COTIís universal cross-chain payment solution
One of todayís challenges related to distributed ledgers is that they exist in silos. Various structures and working mechanisms make it harder, if not impossible, to build a common interface. Moreover, users generally have varying rights in different ledgers.

COTIís application is built in a way that provides the flexibility in supporting the core level and ledger layer of todayís most popular and promising infrastructures, such as Ethereum, Binance, Cardano, EOS, Bitcoin, NEO etc.

In the COTI ecosystem, the core application layer supports more than one infrastructure through a dedicated bridge that can be embedded as an off-the-shelf solution independent of COTIís core infrastructure and solutions.



Selected services that can be imported or used by other chains:
Dispute resolution enables users on any chain to benefit from comprehensive buyer-seller protections when transacting on any platform and ecosystem. The arbitration layer in COTI is a protocol designed to solve buyer-seller disputes. Disputes are resolved by an arbitration jury randomly selected from a large pool of highly trusted network participants.

The arbitration process (i.e. forming the arbitrator jury, securing evidence, selecting jurors, etc.) is fully decentralized and not susceptible to collusion or third party bias. By integrating with the COTI Trustchainís arbitration layer, any chain or infrastructure will benefit from a dispute resolution token, which can serve as a buyer-seller protection mechanism. This is a feature that is largely absent from current crypto-based payment systems.

A transaction that is eligible to file a dispute on an external infrastructure will send the transaction to COTIís cross-chain bridge. The transaction token used will then be swapped from the original payload token (e.g., ETH/BEP2) to COTIís native token. Dispute cases will be opened and all interactions will take place through COTIís arbitration system until the case is resolved.

Once the dispute is resolved, the dispute fee will be deducted. The refund or payment will then be sent to the winning party through COTIís cross-chain bridge, which converts the transaction back to the original payload protocol.



The Trust Score Protocol enables efficient behavioural tracking, which maintains trust scores for all consumers and merchants on any chain or infrastructure.

COTI has developed a ranking mechanism to track the behavioral data of network entities, which is crucial for any service and infrastructure. Malicious parties are actively identified and addressed, while reputable behaviour is incentivised. Moreover, the engine is customized per each use case, as each industry faces varying levels of risk.

Trust Scoring is integrated into the original infrastructure through the Trustchain Protocolís API. The original protocol first sends a request to the TrustScore node with the userís hash/address. The TrustScore node then returns the current Trust Score associated with the userís hash. All transactions are sent to the TrustScore node, which supports all infrastructure transaction payloads as input. Certain events can impact the Trust Score of a given user, e.g., disputes, disreputable behavior, etc.



One-click payments add a frictionless payment option to any chain or infrastructure. Most blockchain platforms donít provide the infrastructure and tools required for embedding a Pay with PayPal-like button to accept digital payments simply and instantly. COTI has developed the Payment Request feature in its infrastructure as a solution for one-click payments. It provides consumers with the ability to make purchases without filling in personal details and forms during the checkout process. Using COTIís Payment Request feature, any dApp can embed a payment button on e-commerce websites.



Multi-currency ledger support ó some of the functionality supported by the COTI protocol can be based on other ledger infrastructures. For example, arbitration system staking and voting can be based on Cardanoís PoS and replace COTIís current protocol. As part of this option, COTI will add support to other platforms and be based on their backend mechanisms when using other infrastructures.



So whatís next?
In the initial phase, COTI will be adding support for two additional tokens and will enable them to fully utilize COTIís framework. This adds another level of liquidity support for the entire community. Additional token support in COTIís platform can be seen as a liquidity chain of sorts and is akin to linking BTC on the Ethereum blockchain through bridges.

It is important to note that:

1. Itís still the same total supply. Nothing will ever change with regard to that, and we will not dilute or tamper with the supply.
2. There are no concrete requirements to swap tokens from our MainNet token to any other platformís supported tokens. You will be able to switch from one side to another.
3. We have developed a unique concept of Cross Platform Bridges, which is a way to enable interoperability and open our platform to any use case and protocol.

Conclusion
Universal payments and cross-chain solutions, together with infrastructure applications and use case offerings, are needed to boost the pace of real world infrastructure adoption.

Their ability to increase accessibility, link disconnected systems and enable quick value transfer is crucial to drive the mass adoption of many fintech products. Moreover, COTIís cross chain and multi-infrastructure solutions will enable any network to become increasingly interoperable and widely adopted.

*   *   *   *   *

COTI Resources

Website: https://coti.io
Telegram: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf
Token economy overview: https://coti.io/files/COTI-Token-Economy-2019.pdf

                                                                 
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11  Alternate cryptocurrencies / Altcoin Discussion / COTI partners with Simplex to optimize crypto payment processing on: June 27, 2019, 01:55:40 PM
COTI partners with Simplex to optimize crypto payment processing
COTI is pleased to announce that we have partnered with Simplex, a fintech and cyber security company that aims to introduce merchants to a world without fraud



Simplex is an EU-licensed financial institution that enables users to buy crypto from exchanges using their credit cards in a fraud-free environment. Simplex processes credit card payments with a 100% guarantee; in case of a fraud chargeback, the merchant gets paid by Simplex. Simplexís cutting-edge fraud prevention solution and AI technology blocks fraudulent users and allows legitimate users to complete payments with ease. This increases conversion rates and enables merchants to focus on their business growth.

As part of the partnership, Simplex is also considering adding COTI to its limited lineup of supported currencies that include BTC, ETH, and 5 others.

Binance and KuCoin, two top cryptocurrency exchanges, have already partnered with Simplex to process crypto purchases using credit cards. Creating such fiat gateways on crypto exchanges is what is needed to increase digital currency adoption and introduce crypto to more users.

Simplex will assist with COTIís efforts of offering a holistic solution that empowers enterprises to build their own payment networks by providing users with a simple way to convert fiat to crypto. Through this integration, users will be able to purchase crypto using credit cards through a secure checkout page.

ďEasy and fast credit card payments for mainstream users is a key factor in wider adoption of crypto in general. Weíre thrilled to partner up with COTI and together enable a much better, fast and easy payment experience,Ē said Nimrod Lehavi, co-founder and CEO of Simplex.

Nimrod Lehavi, CEO of Simplex

COTI CEO Shahaf Bar-Geffen commented:
ďCOTIís Trustchain provides all the necessary features required for a perfect payment system. Scalability, simplicity, buyer-seller protections, cost effectiveness, price stability, instantaneity, and security all take center stage in our solution. Adding Simplexí solution will significantly enhance TrustchainĒ.

COTI CEO Shahaf Bar-Geffen

To find out more, you can visit COTI and Simplex.

*   *   *   *   *

About COTI

COTI is an enterprise-grade fintech platform that eliminates all intermediaries and empowers organizations to build their own private payment solution and digitize any currency using its proprietary Trustchain protocol.

COTI provides functionality as robust as Paypal and Alipay while enabling enterprises to create their own unique rules and finally own their payment system to save time and money and regain control over their data. COTIís platform enables companies to effortlessly create advanced fintech products ranging from payment networks to stable coins, loyalty programs and more.

COTIís 30+ people team is built from highly experienced individuals, who previously held positions at IBM (former head of research), Ripple (former CRO), Blackrock (former CIO), Investec bank (former CEO), as well as cryptographers from Israeli elite army intelligence units.

About Simplex

Based on advanced AI technology, Simplexís automated system streamlines online payment processing while assessing risk with maximum speed and accuracy. Simplex integrates with online crypto exchanges to fulfill the credit card payment process. Hence, Simplex is responsible for risk analysis, processing payments with the credit card company and finalizing the transaction. Simplex is licensed as a payment institution in the EU and operates in accordance with the Payment Card Industry Data Security Standard (PCI DSS).

*   *   *   *   *

For more information, be sure to visit COTI. For other exciting COTI news, you can stay up to date on our Telegram group.

                                                                    
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12  Alternate cryptocurrencies / Altcoin Discussion / COTI receives promising reviews from Token Insight and DPRating! on: June 17, 2019, 06:19:51 PM
COTI receives promising reviews from leading rating agencies Token Insight and DPRating!
COTI was recently audited by Token Insight and DPRating alongside other leading projects in the blockchain sphere.




Token Insightís BB ranking connotes impressive technical feasibility and stable operations with manageable risk. Some of the key factors that contributed to Token Insightís rating include COTIís unique Trustchain technology, complete payment ecosystem, multiDAG, price stability features, and strong partnership and investment deals, which increase the trust and reliability of the COTI network.

ďThe addition of a Trust Score mechanism provides positive incentives for the COTI network while ensuring network security,Ē wrote Token Insight in their review, adding that ďCOTIís current cooperation with its partners and investment institutions are tremendously strong. In addition to the investment institutions and partnerships COTI has formed within the blockchain industry, one of the Big Four accounting frms, Ernst & Young (EY), will provide auditing services for the project. This type of cooperation increases the trust and reliability of COTIís network.Ē



Token Insight also cited COTIís broad application prospects for scenarios sought by the token economy as an upside to its offering.

ďAt present, it has signed contracts with many traditional institutions including Blue Cellular, and these institutions have agreed to issue tokens based off of COTIís network. Moreover, COTI has already gained revenues from clients during the past 3 months.Ē

As for DPRating, they cited that COTIís DAG-based distributed ledger technology can connect transactions simultaneously and asynchronously to quickly improve transaction efficiency and innovation.

ďIn COTIís network, stable coins and dedicated coins each have independent clusters. As these assets become more requested in large-scale applications by traditional industries, COTI is expected to achieve future breakthroughs in this field,Ē they added.

DPRating also looked at the COTI team, stating that the members

ďare from leading companies such as IBM, Blackrock, and Plus500 and have extensive experience in the payments, encryption technology and financial services industries.Ē

COTI community engagement and active participation further contributed to DPRatingís evaluation.

To read Token Insightís complete COTI review, visit this link. The DPRating review can be viewed at this link. You can also see other leading project ratings here.

About Token Insight:
TokenInsight is an independent third-party organization dedicated to providing accurate data, ratings and analytics that contribute to more intelligent financial decision-making and market transparency. TokenInsight provides customized services such as commercial due diligence, project analysis, industry research and more.



About DPRating:
DPRating is a leading quantitative crypto rating agency founded in May 2017. Since its inception, the company has released SmartICO, the first comprehensive ICO rating model, and conducted in-depth rating for dozens of projects.



*   *   *   *   *

For more information, be sure to visit COTI. For other exciting COTI news, you can stay up to date on our Telegram group.

                                                                    
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13  Alternate cryptocurrencies / Altcoin Discussion / COTI strikes deal with APV Media to make crypto a payment solution for clients on: June 17, 2019, 06:09:47 PM
COTI strikes deal with APV Media to make crypto a payment solution for clients

COTIís latest string of partnerships includes its most recent collaboration with APV Media



In the upcoming days, weíll be announcing another exciting fintech partnership, so stay tuned!

APV Media is a Los Angeles-based digital production company that offers personalized and completely customizable videos to large corporations allowing them to reach their client base in a way never achieved before. It is the next step in digital communication evolution, engaging the customer through one of a kind videos tailored to their unique details, including elements such as name, location, rewards and spending habits.

While they are on the front lines of new age marketing, their business ethos supports the advancement of other technologies and markets. They are one of the first companies to utilize COTI as a payment solution for their clients.

ďYou simply cannot ignore the power and value of cryptocurrency. So partnering with a company seeking to push boundaries in the digital realm when it comes to payment methods and infrastructure is a no-brainer,Ē said APV Media CEO Devin Karpes



ďOur goal is to revolutionize the way we look at marketing. From the user experience, to software and even payment solutions with our clients. Cryptocurrency exists, itís circulating. We obviously have to take this into account as a means of payment,Ē added Karpes.

COTI CEO Shahaf Bar-Geffen commented:
ďWe are pleased to adapt our Trustchain technology to the marketing sphere as a payment means. APV is innovating in the field of video marketing, so supplementing their offering with blockchain technology is well-timed. We look forward to moving the needle in how marketing is traditionally done.Ē


COTI CEO Shahaf Bar-Geffen

About COTI

COTI is an enterprise-grade fintech platform that eliminates all intermediaries and empowers organizations to build their own private payment solution and digitize any currency using its proprietary Trustchain protocol.

COTI provides functionality as robust as Paypal and Alipay while enabling enterprises to create their own unique rules and finally own their payment system to save time and money and regain control over their data. COTIís platform enables companies to effortlessly create advanced fintech products ranging from payment networks to stable coins, loyalty programs and more.

COTIís 30+ people team is built from highly experienced individuals, who previously held positions at IBM (former head of research), Ripple (former CRO), Blackrock (former CIO), Investec bank (former CEO), as well as cryptographers from Israeli elite army intelligence units.

About APV Media

In the evolving and competitive landscape of consumer marketing, the need to reach out in an authentic and personalized way has never been more relevant. Everyday consumers are swiping past or skipping ads, but Automated Personalized Videos (APV) are tailored to the customer through compelling stories and personalized engagement to increase conversion and optimize marketing campaigns.

*   *   *   *   *

To find out more, you can visit COTI and APV Media.

In the upcoming days, weíll be announcing another exciting fintech partnership, so stay tuned! For other exciting COTI news, you can stay up to date on our Telegram group.

                                                                    
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14  Alternate cryptocurrencies / Altcoin Discussion / COTI has completed the beta phase of our white label solution on: June 17, 2019, 06:04:25 PM
COTI is proud to announce we have completed the beta phase of our white label solution for merchants building innovative payment networks, using blockchain technologies. In the beta phase, a single client processed over $5M in transactions on our payment ecosystem in less than 3 months!



COTIís whitelabel toolkit, geared towards enterprises and merchants, is based on COTIís Trustchain technology and includes state of the art CRM implementation, a branded hosted website, KYC and AML support, price stable coins pegged to fiat currencies, a crypto payment gateway, fiat to crypto exchange, marketing and PR services.

In our initial private TestNet phase, COTI used currencies like Bitcoin as an underlying asset for transaction settlements, processing more than $5M in less than three months. This has demonstrated the potential of utilizing COTIís turnkey solution and is now being migrated to the Trustchain protocol and COTI coin, following our public MainNet launch.

Niv Abrahamovich, VP of product at COTI commented:

ďWe believe that we can make building a digital payment network as easy as building a website. With the Trustchain as an infrastructure, this is now a reality for companies and entrepreneurs around the worldĒ.

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For other exciting COTI news, you can stay up to date on our Telegram group.

                                                                    
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15  Alternate cryptocurrencies / Altcoin Discussion / COTI joins forces with Blue Cellular to develop a solution for unbanked pop. on: June 17, 2019, 05:59:22 PM
COTI joins forces with Blue Cellular to develop a solution for the unbanked population in South Africa
COTI, an enterprise-grade Fintech platform, is proud to announce its collaboration with Blue Cellular, a leading telecom company based in South Africa.



COTI will be building a payment solution for the unbanked population in South Africa through the issuance of the Blue Rand currency in cooperation with Blue Cellular, a leading telecoms distribution specialist in South Africa. This will enable users without access to a bank account to digitize their cash, transfer funds to friends and family, and use their digital money at various retailers across South Africa.

Unbanked users wishing to digitize their cash will be able to open an online account with Blue Cellular. Cash can then be deposited at a local kiosk to receive the equivalent amount in Blue Rand, a stable coin pegged to the South African Rand.

COTI supports both fiat- and crypto-collateralized stable coins that may be customized per user requirements. Blockchain-collateralized stable coins are issued and secured using on-chain smart contracts. A decentralized council will oversee all compliance and maintain absolute transparency for asset-collateralized stable coins. By solving the shortcomings of previous blockchains, COTIís Trustchain technology will be utilized by Blue Cellular to meet their requirements for a price stable coin that is cost-effective, extremely fast, scalable, simple to use and secure.

COTI CEO Shahaf Bar-Geffen commented:
ďThe unbanked population around the globe without access to traditional financial services numbers in the billions. We are pleased to partner with Blue Cellular in a joint effort of opening up more payment options for disadvantaged populations in the African continent.Ē



About COTI:

COTI is an enterprise-grade Fintech platform that eliminates all intermediaries and empowers organizations to build their own private payment solution and digitize any currency using its proprietary Trustchain protocol.

COTI provides functionality as robust as Paypal and Alipay while enabling enterprises to create their own unique rules and finally own their payment system to save time and money and regain control over their data. COTIís platform enables companies to effortlessly create advanced Fintech products ranging from payment networks to stable coins, loyalty programs and more.

COTIís 30+ people team is built from highly experienced individuals, who previously held positions at IBM (former head of research), Ripple (former CRO), Blackrock (former CIO), Investec bank (former CEO), as well as cryptographers from Israeli elite army intelligence units.

About Blue Cellular:

Blue Cellular is a leading independent cellular distributor focused on rural areas across Africa. With 20 years in the telecom industry, Blue Cellular has become a specialized distributor of SIM Cards, hand sets and telecom services for major international mobile telecommunication companies, such as Vodacom, MTN and Cell C.

Blue Cellular assists these networks with driving customer acquisition and retention in South Africa and neighboring African countries. With Blue Cellularís national and cross border footprint of dedicated resources, it is able to provide detailed analytics on its subscriber base of over five million users.

*   *   *   *   *   *

COTI has announced the release of the COTI Trustchain MainNet!
We invite all of COTIís future coin holders to open a MainNet wallet.

For more information on the cooperation, be sure to visit COTI and Blue Cellular. For other exciting COTI news, you can stay up to date on our Telegram group.

                                                                    
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16  Alternate cryptocurrencies / Altcoin Discussion / Recruitís Technology Investment Arm RSP has Announced Major Investment in Blockc on: June 17, 2019, 05:52:38 PM
Recruitís Technology Investment Arm RSP has Announced Major Investment in Blockchain Platform COT

Recruit, the Japanese enterprise-level firm, has publicly announced that it will participate in the COTI platform through investment. COTI, a next-generation blockchain provider, has agreed to the terms. Recruitís RSP funding division will be the participatory arm for the investment partnership. The partnership represents a dramatic win for the COTI platform with connections to a $50 million market cap company like Recruit.

Read the full article on Yahoo! Finance.

17  Alternate cryptocurrencies / Altcoin Discussion / How COTI is Securing Our Blockchain and Non-Blockchain Infrastructure. on: June 17, 2019, 05:46:14 PM
How COTI is Securing Our Blockchain and Non-Blockchain Infrastructure
Written by COTI CTO, Dr. Nir Haloani


Dr. Nir Haloani

In todayís world, security is imperative for maintaining control of your belongings, be they physical or virtual. Cyber security is vital to keeping you protected, safeguarding your integrity, and avoiding unwanted data disclosure.

COTIís ecosystem and technical solutions provide robust cyber security measures around data integrity and confidentiality, and are future proof against blockchain cyber attacks.

Wallet Security
The COTI wallet is based on the React Native framework which provides easy cross-platform portability. The COTI wallet requires user credentials paired with a 2FA login to establish a session with the node manager, after which all communication with the COTI network and nodes requires the walletís seed. This seed is then used to encrypt and sign all transactions and messages sent on COTI. All messages sent from the wallet are validated and no spoofing or manipulations are possible.

COTI tokens are stored in private, pseudo-anonymous virtual Ďwalletsí. Each wallet is identified and protected by a unique access key known as a Ďseedí. Although we call them wallets, they do not actually store the tokens, instead they are like keychains that give you access to the tokens permanently stored on the COTI ledger.

It is important to note that your seed is the one thing that you need to safeguard from disclosure at all times. If someone knows the login credentials to your wallet, it does not mean they have access to your wallet because it is also safeguarded by your locally stored private key.

While these technological security features are a major benefit to using public and private key encryption, the keys themselves rely on more Ďhumaní security measures. It is this latter type of security that is most frequently the weak link.


COTIís MainNet wallet


Seed Generation & Backup
The COTI Wallet includes a foolproof algorithm for generating random seeds and forces the user to back up their seed in a paper wallet or a password manager (e.g. LastPass) before finalising the wallet creation process. This not only protects the seed from brute force attacks, but also ensures the userís funds can still be safely recovered if their device is lost.

As the seed is the key to the wallet and funds, it is very important to back it up safely. The most secure option is to simply write it down on a piece of paper, though you have to keep that piece of paper safe. We recommend you also use a password manager that will encrypt and store your seed. This solution will protect it from getting misplaced or stolen.



Hardware Wallet Integration
After all is said and done, a digital wallet is not the most secure means of storing crypto. A safer method is to use leading hardware wallets like the Ledger Nano S or Trezor for large holdings.

Support for hardware wallets is of paramount importance. It should be noted that due to the technical differences of the COTI Trustchain infrastructure from typical blockchains, COTI currently has no hardware solution support. However, this is an issue that we are working hard to overcome, and hardware support will be available in the near future.

Is HTTPS a big deal for COTI?
For a network such as COTI the answer is NO. Unlike online stores, node owners do not handle highly sensitive information like credit card numbers. As all interactions between the wallet and the network are encrypted, the data that the wallet sends doesnít pose any potential privacy risks or user experience downgrading.

The seed can be entered into the wallet as plain text, as it is not sent anywhere and is instead used locally together with the private key to encrypt all the messages sent from the wallet to the network. All communication with the COTI network is encrypted using the private key of the user and signed using both the private key and the seed, so all messages sent from the wallet are validated and no spoofing or manipulations are possible.

The seed itself is not sent and no SSL is required. Even if an attacker were to use some sort of phishing manipulation to get a userís seed, it wouldnít help them connect to the wallet of the user because the private key is also required for the messages to be properly encoded and validated . Moreover, the private key is always stored locally and not sent anywhere.

What does SSL/TLS mean for COTI and Node Operators?
Regardless of the above, to better protect the session initiation phase of the COTI network, we have added SSL certifiacte requirements on all our pages, which in essence means that it is now mandatory for COTI nodes to also install SSL certificates.

This is important for several reasons:

Firstly, Apple requires App Transport Security (ATS) to be enabled in all apps submitted to the App Store. Once we deploy our mobile-supported application, this would be mandatory since developers who submit apps without ATS must justify their decision to disable it.

Additionally, browsers such as Google Chrome mark any website that does not use HTTPS as Ďnot secureí. As part of the continued efforts to follow best practices, COTI will not allow non-HTTPS connections to the network.

This does require that every node operator in the COTI network install an SSL/TLS certificate in order to connect and transact.

How Are Transactions Confirmed in COTI?
In COTI we have introduced 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 decentralized DAG that is not stored by any central authority. The Cluster achieves scalability through its use of parallel source selection and confirmation of transactions, as well as its use of COTIís Trust Scores.

To reach consensus on whether the transaction is legitimate or a double spend. DSP Consensus consists of a majority of DSP nodes, and consensus can be achieved when a transaction has more than one half of the DSP Node signatures.

Because the transaction verification process performed by the DSP Node is quick, only the amounts involved are checked, as opposed to the signatures of a transaction. The verification that the DSP Nodes perform are only carried out after a transaction has been attached to the Cluster.

Transactions require the signature of a DSP Node before they can be considered fully confirmed. Any detected double-spending attempts are flagged and refused, while valid transactions receive signatures from DSP Nodes. Valid transactions are required to receive a number of signatures defined by the consensus in order to continue as confirmed.

Receiving tokens is simple, you provide an ďaddressĒ (public key) to the sender, and that person sends (signing with private key) a defined amount of tokens to you.

When you send tokens to someone (i.e., spend tokens), you will need to prove to everyone that you own the address from which you are spending. By signing the transaction, you prove that you are the holder of the private key for that address.

How are addresses generated?
The seed is used to generate an address. COTI handles addresses in a deterministic fashion ó i.e., the same set of addresses are always generated in the same order. You may hear the term ďindex,Ē which like page numbers in a book, describes the order of the generated keys.

For enhanced privacy measures, users can generate more than one address associated with their seed and by using a new address for each transaction, can better protect the privacy of any transaction. By generating different addresses, users will be able to protect themselves from anyone tracking their transaction history.

Security Audits
COTI is currently conducting multiple external audits to assess any vulnerabilities, which once finalized will be released to the public for peer review and all required fixes will be implemented as we move forward toward our public MainNet. Weíve also added SSL certificates to better protect the first layer of wallet sessions and we will also add enhancements in regards to user/password compliance issues and or any other aspects raised by the auditors.

Key Aspects of the COTI Network Security
  • No single point of failure ó The distributed nature of blockchains increases the resiliency of the overall network from being compromised by a single point of failure.
  • Eliminates ledger manipulation ó The consensus mechanism, a key feature of any blockchain system, improves the overall robustness and integrity of shared ledgers and precludes the possibility of ledger manipulation.
  • Prevents double spends ó Cybersecurity is maintained in the COTI network by introducing DSP Nodes and applying a trust measure for every participant. To this effect, double spending attacks are not possible, which creates a highly secure environment.
  • COTIís PoT adds an extra layer of security ó No possibility of penny spend attacks
  • No likelihood of man-in-the-middle attacks ó The possibility of such an attack is problematic because when users first join COTI, it will not be clear whether they are using the public key of an attacker or a real COTI Node. To solve this problem, the COTI client will have the COTI serversí public key hard-coded into it. Once a secure connection with the COTI servers has been established, the servers can be used to retrieve the Nodesí authentic public keys.

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Final Words

The TrustChain Protocol captures the best of what COTI has to offer: An easy to use, scalable crypto ecosystem that is not dependent on restrictive fees and slow confirmations. The simplicity of the COTI products while still maintaining and complying to the highest security measures is of massive importance and will be the key to COTI mass adoption.



For other COTI news, you can stay up to date on our Telegram group.
18  Alternate cryptocurrencies / Tokens (Altcoins) / COTI partners with Fantom, taking technology beyond the blockchain on: May 26, 2019, 08:26:54 AM
COTI partners with Fantom, taking technology beyond the blockchain

As leaders in third generation blockchain solutions, the business partnership will be a basis for future cooperation in R&D efforts and more



While blockchain has provided a means of processing transactions in a decentralized fashion, it has faced a number of issues, including low scalability, high costs and slow confirmation speeds. To address these issues, a new technology based on the directed acyclic graph (DAG) was developed and is used both by COTI and Fantom to provide scalability and low fees.

Fantomís high TPS and low time to finality (TTF) is possible through the platformís Lachesis protocol built on the OPERA Chain. This technology will replace existing payment methods and supply chain management infrastructures using dApps that can handle tens of thousands of transactions per second. dAPPs built on the new distributed ledger by Fantom can be used across a range of industries, including food, telecommunications, finance, electricity, electronics, real estate and autonomous vehicles, saving costs and providing transparency.

COTIís Trustchain has also been optimized for a number of use cases, including white label payment solutions, stable coins, remittance and loyalty programs for decentralized payment apps, merchants, enterprises, developers and more. The DAG-based Trustchain protocol is based on machine learning, which dramatically decreases transaction costs and increases processing speed by assigning trust scores to transactions and clustering them in chains. When coupled with no requirement for mining and low energy consumption, the network can operate with near zero fees in a decentralized environment. Fees decrease the more trustworthy a user is, while the speed to process a transaction increases. The inverse is also true, thus improving the security and overall trustworthiness of the network.

ďAbstracts ledger dependent technologies can overcome the bound of different architectures regardless of addresses, ledger implementation and consensus mechanisms. The potential for both implementations to be networked together is evidently the key needed to hasten the pace of any infrastructure adaptability in the world. Its ability to increase accessibility, link up disconnected systems and enable quick transfer of value is a crucial factor that will drive mass adoption of any product. I am delighted to work with Fantomís technical advisor, Andre Cronje on these subjects ď commented COTIís CTO Dr. Nir Haloani.

ĎíUnless we are thrown into a state of Armageddon between today and tomorrow, we believe that there will be a market for a multitude of distributed ledgers and token standards. When building a cohesive digital economy, projects should work with each other instead of against each other, therefore we are of the opinion that interoperability and collaboration function as the building block for the mass adoption of both Fantom and COTI.íí, commented Fantomís CMO Michael Chen.

For more information, be sure to visit COTI and Fantom.

***

About COTI:
COTI is an enterprise-grade fintech platform that eliminates all intermediaries and empowers organizations to build their own private payment solution and digitize any currency using its proprietary Trustchain protocol.

COTI provides functionality as robust as Paypal and Alipay while enabling enterprises to create their own unique rules and finally own their payment system to save time and money and regain control over their data. COTIís platform enables companies to effortlessly create advanced fintech products ranging from payment networks to stable coins, loyalty programs and more.

COTIís 28+ people team is built from highly experienced individuals, who previously held positions at IBM (former head of research), Ripple (former CRO), Blackrock (former CIO), Investec bank (former CEO), as well as cryptographers from Israeli elite army intelligence units.

About Fantom:
Fantom is a new distributed ledger technology that is striving to become the backbone of the smart cities of tomorrow, blazingly fast payments, and the digital economy. With a focus on its newly engineered consensus mechanism, the lachesis protocol, Fantom is providing an underlayer for decentralized applications, IoT use-cases, and decentralized finance solutions.

Fantom is a geographically distributed organization which has a 30+ people team, active in Dubai, South Africa, Luxembourg, the Netherlands, Russia, Australia, and South Korea.

***

COTIís IEO will be dropping on KuCoin on 4 June, 2019. For other exciting COTI news, you can stay up to date on our Telegram group.

                                                                    
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19  Alternate cryptocurrencies / Altcoin Discussion / Introducing the COTI multiDAG! on: May 26, 2019, 08:22:39 AM
Introducing the COTI multiDAG!

COTIís multiDAG is a unique implementation that frees the COTI network from being bound to a singular DAG instance. The COTI MultiDAG ecosystem is similar to Ethereum, in the sense that both are common decentralized infrastructure acting as the basis for a multitude of different tokens and smart contracts while utilising one main coin for payment of fees on the network.

This multiDAG feature is currently unavailable on any other DAG-based platforms and is totally unique to COTI!

COTIís selfsame node infrastructure enables the creation of multiple DAGs by originators of varying nature, such as stable coins, dedicated enterprise tokens and more. Because COTI uses several independent clusters that each support one token, the whole network is made infinitely more efficient and modular.

In essence, the COTI network will have several independent clusters and tokens built atop the Trustchain, with the COTI native coin used as a common means of payment for all fees and staking inside the COTI ecosystem.



How does the multiDAG affect the COTI token supply?

In our original token economy, we explained that it would not have been possible for additional COTI tokens to be created following the genesis transaction due to COTIís DAG structure and decentralized nature. This was the rationale behind generating an additional two billion COTI to be locked in reserve besides the original two billion that were recently disbursed to the network. At the time, it was of paramount importance for COTI to be able to introduce additional tokens into the supply at a later stage for added liquidity. However, with the introduction of the multiDAG, these reserve tokens are no longer required as by using the multiDAG, it is now possible for each independent Cluster to support one token, making the network highly adaptive and liquid.

All Clusters in the COTI multiDAG use the same identification and KYC procedures, which creates one common frictionless crypto universe that includes many different tokens, while of course using the COTI coin as a basis for all network fees.

A supply of 2,000,000,000 COTI has already been distributed to the network in line with our token allocation. We will now no longer be generating an additional two billion COTI to be held in reserve.

For additional information and our recently updated documents, please refer to our token economy and technical whitepaper.

COTIís IEO will be dropping on KuCoin on 4 June, 2019. For other exciting COTI news, you can stay up to date on our Telegram group.

                                                                    
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20  Alternate cryptocurrencies / Altcoin Discussion / KuCoin Spotlight Will Host COTIís IEO On June 4th on: May 26, 2019, 08:18:51 AM
KuCoin Spotlight Will Host COTIís IEO On June 4th



COTI and KuCoin have joined forces to launch COTIís IEO on KuCoin Spotlight! COTI is one of the first projects to partner with Spotlight, which assists blockchain companies with raising funds, gaining market traction and raising industry awareness.

KuCoin is one of the largest global exchanges, with more than 398 live markets listed on CoinMarketCap, which translates to 398+ cryptocurrency pairs trading on the platform.

COTIís IEO will take place on KuCoin Spotlight on 4 June, 2019!



About COTI:
COTI is an enterprise-grade fintech platform that eliminates all intermediaries and empowers organizations to build their own private payment solution and digitize any currency using its proprietary Trustchain protocol.

COTI provides functionality as robust as PayPal and Alipay while enabling enterprises to create their own unique rules and finally own their payment system to save time and money and regain control over their data. COTIís platform enables companies to effortlessly create advanced fintech products ranging from payment networks to stable coins, loyalty programs and more.

COTIís 28+ people team is built from highly experienced individuals, who previously held positions at IBM (former head of research), Ripple (former CRO), Blackrock (former CIO), Investec Bank UK (former CEO), as well as cryptographers from Israeli elite army intelligence units.

About KuCoin:
KuCoin is a leading global crypto-crypto exchange, also known as the Peopleís Exchange. KuCoin provides users with exchange services that are both convenient and extremely secure. This is achieved through the integration of its premium assets and state-of-the-art transaction platform. The KuCoin exchange app has been launched on both the Apple App Store for iOS and the Google Play Store for Android to keep users trading on the go. The platform features 170 tokens, including more than 350 pairs that were launched within the first year of KuCoinís operations.

For more information, you can visit COTI and KuCoin.

For other exciting COTI news, you can stay up to date on our Telegram group.


                                                                    
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