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March 11, 2020, 02:14:31 PM |
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 Introduction
COTI have been working with merchants since the launch of our MainNet, increasing the utility and organic demand for our native COTI coin.
The monthly volume of merchant processing has already reached over $5M USD and is steadily growing. This week alone we have announced two new merchants (MyFirstWallet, Blockchain Dollars) and have also recently launched credit card processing activities, that allow us to onboard a host of new merchants, significantly increasing our processing volume on the COTI network. This Explorer upgrade is just the first upgrade designed to bring greater transparency to our network and network operations.
All activities, including merchant transactions, can now be tracked on the new Explorer, alongside other activities such as staking, bridge movements, and all other network transactions.
TLDR of COTI network operations on the new Explorer - The Trustchain Data Structure
The Trustchain is COTI’s ledger and holds our entire network activity as a whole Cluster in a DAG data structure.
The transactions on the Trustchain can largely be broken down to: (i) standard wallet-to-wallet transactions; (ii) merchant’s transactions (as explained below); (iii) bridge transactions (interoperability); (iv) staking transactions; and (v) zero-spend transactions (own-initiated transactions for network maintenance in order to help facilitate faster consensus).
Occasionally, the Trustchain undergoes a cluster stamp, an automated process which prevents the growing Cluster from becoming unmanageable in storage size. Following the creation and verification of a Cluster Stamp, the whole cluster is stored in the COTI History Nodes.
COTI’s Explorer (https://explorer.coti.io) is the tool that allows viewing all current and past transactions of each cluster on the Trustchain, as well as other useful information.
New Explorer Tool
We’re proud to announce that a new version of the explorer is now live with new added features. The key feature is the ability to filter the transactions according to their type:
(i) Merchant’s transactions — the latest transaction associated with merchants
(ii) Bridge transactions — the latest transaction associated with the conversion to the interoperability tokens (ERC-20 + BEP2)
(iii) Staking transactions — the latest transaction associated with COTI’s staking
(iv) All transactions (standard transactions) — no change, as it is today Detailed Explanation of The Type of Transactions That Can Be TrackedMerchants’ Transactions
COTI provides technological infrastructure for payment processing operation and adheres to various regulations protecting transactions’ privacy, therefore it is not in a position to make its merchants’ identity public, unless specifically requested to do so by a merchant. Additionally, as a fast growing start-up competing in the highly lucrative payment sphere, it makes a better business practice to protect trade secrets like rates and clients.
That said, we have now made it easier to track merchants’ volume/activity on the Trustchain, by introducing two types of merchant transactions that appear in the block explorer:- Merchant revenue transaction: COTI mirrors a real world fiat or Crypto transaction that it processed between a consumer and a merchant, such as credit card processing for example. Recording the entire transaction on the Trustchain adds transparency to all parties involved, while maintaining necessary privacy. It serves as a proof of transaction and a basis for an instant settlement. Furthermore, the transaction and the data it holds could potentially serve as the basis for an array of financial instruments like working capital loans, saving accounts and more. Thus, if $1,000 were processed through a credit card transaction, the equivalent amount of COTIs will appear on the Trustchain as a merchant transaction. The benefit for coin holders is obvious, of course, as the entire volume of the transaction is processed on the Trustchain, generating fees for node operators and stakers.
 - Merchant fee transaction: COTI’s merchants pay transaction fees in COTI coin for the service rendered to them, like in the case when COTI processes a cryptocurrency transaction for a merchant in exchange for a small fee. Merchants are required to pay their fees only with COTI’s native coin, which are acquired from the open market. These fees appear on the Trustchain as merchant transactions. Thus, for example, if 1 BTC (at a $10,000 value) was processed for a merchant in exchange for a 1% fee, then a transaction of 100$ worth of COTI (5,000 COTI at a value of $0.02, for example) will be created in the Trustchain. The added value for COTI holders is obvious, as merchants add fresh demand for the native coin in the market.
 Bridge Transactions
COTI’s application is built in a way that provides the flexibility in supporting the core level and ledger layer of today’s most popular and promising infrastructures, such as Ethereum and Binance Chain. 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 COTI’s core infrastructure and solutions. We have now made it easier to track all our bridge activities on the Trustchain and differentiate the transactions associated with interoperability and cross chain activities. Please refer to the following links for more information on interoperability and COTI bridge:
COTI Interoperability and Universal Payment Solution by Dr. Nir Haloani
COTI ERC-20 Token Interoperability
COTI’s Cross Chain Bridge — TutorialStaking Transactions
COTI’s staking model was designed and built according to a decentralized finance (DeFi) income model by incentivizing network participants such as node operators with a competitive compensation for their contribution to the transaction approval process in the network.
All nodes (Basic/Advance/Community) are required to stake a certain amount of COTI native coins to participate in the network, as per the specific requirements of each type of node. We have now made it easier to monitor the staking-related transactions on the Trustchain by differentiating them from the other transactions. Please refer to the following links for more information on nodes and staking at COTI:
Staking at COTI v1.00 - Guide
Nodes and StakingSummary
Our predicted growth in merchants’ activities and overall usage is a great opportunity to coin holders as it grows demand and staking rewards. We are introducing a new Explorer tool to allow tracking the Trustchain activities to grow our transparency accordingly. The introduction of credit card processing is expected to significantly grow the usage and holds a great opportunity to our community.
Stay COTI!COTI ResourcesWebsite: https://coti.ioTelegram group: https://t.me/COTInetworkGithub: https://github.com/coti-ioTechnical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf      Talk with us on Telegram Official Facebook Official Twitter Official Reddit Official Youtube Channel COTI Group |
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March 17, 2020, 03:13:44 PM |
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 We are pleased to announce that the Claim-Option feature of COTI’s Staking mechanism is finally available.
Active stakers in the COTI network can now claim their rewards through their MainNet wallet.
See the following sections for how this option works.
Receiving Rewards
Rewards are processed once a month.
COTI guarantees a minimum level of income for advanced and community MainNet stakers per annum, on a monthly basis. If the received income from the processed transactions does not meet the ensured return, COTI covers the deficit.
To receive your rewards, you must claim your coins by clicking the CLAIM button. This option will be available in the last week of each month: The specific period you can claim your rewards in will appear in the staking section in your wallet. Please note that if you don’t claim your rewards within the claim window (the last week of the month) your rewards will be reset and you won’t be able to claim them for that month. If you are a part of a community node, the remaining rewards will be split between those who have claimed their rewards.Conditions to receiving your stake rewards:
- Your node’s uptime should be at least 95%. In the case your node doesn’t meet the minimum uptime, you will only be eligible for fees collected during your uptime but not for the guaranteed node return.
- A registered MainNet wallet.
- You have completed the KYC process
- You must stake your coins for the entire payment cycle to be eligible for rewards.
- At this stage, TestNet operators will receive their rewards automatically in the first week of each month, without the need to claim it before.
Stay tuned! The Unstake option will soon be available directly from your MainNet wallet.
In addition, we remind you that we’ll be soon releasing COTI’s Staking v2.0. You’ll be able to stake more, through our wallet but also from exchanges. More to come on that.
For those interested to join one of our Community Node (Wolf, CryptoDaku, and tehMoonwalkeR) please refer to this article.
To find out more about COTI’s Staking model and rewards, please read the following articles:COTI ResourcesWebsite: https://coti.ioTelegram group: https://t.me/COTInetworkGithub: https://github.com/coti-ioTechnical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf Talk with us on Telegram Official Facebook Official Twitter Official Reddit Official Youtube Channel COTI Group |
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March 24, 2020, 11:05:21 AM |
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 Following our recent announcement about the Claim option being available for stakers, we are happy to share that we fully completed the Staking v1.0 dashboard, with the Unstake button available as well.
Active stakers in the COTI network will be able to unstake at any moment through their MainNet wallet, starting this week.
Although you may unstake your coins at any given moment, note that the coins will be actually unstaked by the end of each payment cycle, as appears in your wallet.
Important: as a MainNet node operator, of any kind, unstaking makes you ineligible to run a node.
Continue reading to learn how this option works.
To unstake:1. Login to the COTI MainNet wallet.
2. Click Unstake: A message stating that you will be unstaked in the next payment cycle appears: 3. Click Confirm.
4. Once you have unstaked, you can not stake again until the next cycle.
Soon we’ll be releasing COTI’s Staking v2.0. You’ll be able to stake more, through our wallet and from exchanges. Stay tuned for the release and full details.
If you’re interested in joining one of our Community Nodes (Wolf, CryptoDaku, and tehMoonwalkeR), refer to this article.
To find out more about COTI’s Staking model and rewards, check out the following articles:COTI ResourcesWebsite: https://coti.ioTelegram group: https://t.me/COTInetworkGithub: https://github.com/coti-ioTechnical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf Talk with us on Telegram Official Facebook Official Twitter Official Reddit Official Youtube Channel COTI Group |
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March 26, 2020, 01:18:55 PM |
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 Abstract
Staking 2.0 is coming very soon. One key technological upgrade that we have implemented is a new algorithm to pick the nodes that will process a transaction and collect the fees. This document introduces COTI transaction distribution model and outlines how transactions are propagated and spread between the Full Nodes. The new model defines how the probabilistic of transactions are set within the network and introduces the metrics used and taken into account by the node manager to balance and set the fairness factors while choosing the full node that will process transactions and collect the fees.
Introduction
The COTI network uses a transparent and equitable fee model. All fees are collected by Full Nodes (decentralised servers run by users in the COTI network). Each node charges a fee that is in part determined by the node operator itself. Some nodes may set a higher fee if they believe they provide a good service; other nodes may charge less or possibly nothing. The price charged by a node for its services should be equitable, publicly available and compliant with common network rules. The network rules will also be used to define a ceiling for fees (there will be no minimum fee).
The fee collected from each transaction is sent automatically to the Node’s wallet (it is a part of COTI transaction model) and can not be redistributed. For this reason, the only way we can ensure node operators to have fair income, is to send transactions to be processed to nodes in a pseudorandom manner, and shape the probability distribution so all node operators would have fair revenue generated, proportional to their stakes, reliability, trust score and node performance.
COTI Network Transactions
In the COTI network, transactions are created according to several patterns defined by the transaction type. The most common types are payment for goods or services, remittance payments and singular transfers (wallet transfers).
In the first two cases, a transaction originator creates a payment request, and the transaction is created according to it. The transaction originator must input the Full Node address in the payment request in order to pre-select the node (a Full Node is selected by users for any wallet based transfers). COTI provides an automated tool for Full Node selection, enabling a merchant, or any other transaction originator, to choose nodes according to a specific criteria. Full Nodes can also be run on a merchant’s own Full Node, or by using one known to the merchant.
By running a node, the node operator supplies useful resources to the network: CPU, memory, storage and network bandwidth. Usually, these resources are not free, so the node operator should be compensated. The node operator’s investments should generate a reasonable revenue. Therefore, Full Node operators receive Full Node fee collected from transactions received from user wallets. The more transactions Full Node processes, the more it earns.
Full Node operators set fees autonomously, which makes setting competitive fee structures important. If a user knows a Full Node with a better price list, it can be re-selected when sending transactions.
Distribution Model
The new distribution model takes into account several independent factors to ensure fair spread of transactions between the nodes which does not rely solely on one aspect or favor nodes only based on their stake percent.
The distribution model factors which are taking into account consist of:
1.Reliability measurement of the node — this parameter analyzes and takes into account the reliability of the node and its performance. Node Reliability Metrics is a numeric evaluation of the node based on its work history.
2.Amount staked — the amount staked on each node influences the amount of transactions sent to the node and the total fees it will collect. It is important to note that each node will be capped with maximum staking allowed on a given node to make sure that a fair distribution is set for every given node within the network.
3.The TrustScore of the node — the trust score of the node reflects the trustworthiness of the node within the network and it is a measurement which is taken into account to define the weight of transaction sent to it.
4.Transaction amount processed through the node (age) — the age of the node is an important factor as more time in the network defines the node reliability.
5.Load balancing/PoT — Limits the ability of one node controlling the network
6.Node Uptime — As part of defining the reliability of nodes the model measures the uptime and availability of the node.
The node manager is responsible for monitoring the node performance while other parameters are analyzed and monitored by other components in the network.
Model definition
The definition of COTI model distribution assume the following:
1.There is a stable flow of independent transactions based on: merchants transaction, network transaction, bridge transaction and staking transaction (Poisson distribution).
2.In the COTI network there are N Full Nodes which are available and capable of processing transactions.
3.Nodes collect income from transactions they process and set their fees. For simplicity, we assume that the income is proportional to the number of transactions processed in the network.
4.For a transaction originator (sender), there is no difference, which node processes the transaction other than the fees paid for the processing itself.
5.A full node is responsible for propagating and processing transactions by providing his resources to the network.
6.If a user tries to connect to a full node which is down or doing a restart, it can create poor user experience and should affect this node future distributions of transactions.
7.Full nodes set the fee level for transaction, including fee percent, minimum and maximum fee.
8.To be eligible to participate in the transaction fee distribution, full nodes have to stake deposits (either on their own or via delegating the staking to their community members).
9.The fee distribution between full nodes should be fair, taking into account node reliability, node staking and several other factors.
10.The distribution of transactions should be automatic and in a manner which can not be hacked or bypassed in dishonest and cheatable ways.
Distribution Model RulesThe distribution model rules consist of the following:  Due to the decentralized nature of the network, nodes can cheat by giving COTI node manager one fee level and generating fee base transactions for users with another fee. This unfair behaviour is easily detectable by monitoring transactions and leads to punishing nodes in both Reliability Metrics and Trust score.
Node Reliability Metrics is a numeric evaluation of the node based on its work history and performance.
Transaction Distribution Model
When a merchant requests a full node list for the transaction, the Node Manager recommends a node. The merchant is free to change the recommendation, but, if the node uses the standard level of the fee, there is no real motivation to do it. Merchant transactions, COTI Bridge and other automatic transaction generators always use recommended nodes.
 Node Reliability Metrics
The Node Reliability Metrics arenumerical metrics calculated using the weighted formula: where:
1. The node uptime rate
The standard uptime rate for a node is supposed to be 99%. The Reliability Metrics takes this rate as a neutral point. If a node shows less uptime, the Reliability Metrics is decreased in accordance to the following contribution formula: The weight for uptime contribution is set to 10
2. The node downtime events
For node downtime events we use a formula with saturation: The weight for server fails is set to -10
3. The node restarts events
For node restarts we also use a formula with saturation, but using a different weight: The weight for node restarts is set to -1
4. The node incorrect/bad behaviour events
This part of calculation punishes the node for any cheating attempts. There is no saturation and the weight is very negative: The weight for dishonest behavior records is set to -100, so it effectively stops the node from participating in transaction processing, till the record is decayed.
Summary
COTI Staking mechanism ensures fair distribution and operation of Full node within the network and introduces a mechanism which relies on many factors and maintains fairness within the COTI ecosystem. The new distribution mechanism enforces any cheating attempts to collect more fees from the network and verifies that participants (rich and poor) get a fair chance and amount from the network activity and transaction flow. Written by Dr. Nir Haloani, COTI’s CTO. |
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March 26, 2020, 02:22:23 PM |
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 Dear COTI community,
We follow the market and news like everyone else and it is now clear the COVID-19 virus will have a significant negative impact on businesses, economies and society as a whole over the coming months. In the payments world, we have seen giants of the space — VISA, Mastercard and PayPal — all issue warnings about a predicted decline in their businesses during this crisis time and the recession or even depression that may follow.
While this status report will deal with COTI’s business operations, our entire team would like to communicate our thoughts and best wishes to all of our community members and their families during these trying times.
In this status report, we’ll cover:- The status of our operation and network through a global pandemic
- How we’re securing our runway
- Our Roadmap and what we’re building over the coming months
The status of COTI’s operations and networkMaintaining our operations through a global pandemic
From a business perspective, COTI is in a somewhat unique position, as being a technology based business, we can continue to operate at almost maximum capacity by moving our workforce to remote access. In fact, with the COVID-19 lockdown now active in Israel, we have already done exactly that and it is now business as usual, at least as much as it can be, in the midst of a global pandemic.
Our processing volume is based on online merchants and will continue to grow
A majority of our merchants are online merchants and as such, their businesses and processing revenue have declined less as compared to many traditional businesses over the past month, as effects from the COVID-19 start to impact industry across the world. These same businesses are in an advantageous position compared to traditional business, as many consumers and businesses now turn to online purchasing, processing and entertainment to keep themselves occupied or operating while not being able to leave their homes.
These merchants pay their fees as a percentage of the overall transactions they continue to process on the COTI network, denoted in FIAT and paid with COTI.
This means two important things:
1.COTI’s revenue is more sustainable and resilient compared to traditional businesses
2. Merchants now need to buy more COTI to pay the same FIAT fees.
As we continue to onboard new merchants that were in our pipeline before the pandemic, we foresee that our network will continue to grow, even in these challenging times.Securing our runwayCOTI was rapidly growing before COVID-19 and we had already secured our runway via our various revenue streams for at least the next 12 months. However with projections of a global recession as a result of COVID-19 that could last for 18–24 months, our priority over the past two weeks has been to secure COTI’s runway even further into the future, making sure that whatever the circumstance, COTI can continue to operate.
As such, we are happy to announce that we have secured a $3.5M USD follow up investment in COTI from a group of our existing investors.
Being able to secure funds and runway during a time of crisis is a sign of strength and we are grateful to have an opportunity that not all businesses get during these troubled times.
This investment will allow COTI to operate at full capacity, to continue our growth and leverage new opportunities regardless of global market conditions.
The investors will buy tokens both from COTI’s treasury and from the open market.
180M tokens will be bought from COTI’s treasury for $2.5M USD. These tokens will be bought at a premium to market price to the day of agreement (March 18th), demonstrating trust in the future of the COTI coin.
Another $1M USD, completing the $3.5M USD investment, will be used to buy coins from the open market, effective immediately and for a period of no longer than 6 months.
While the $2.5M USD capital injection will be used to fund COTI’s operations, a large portion, 47M out of the 180M tokens is contributed from the team’s future compensation allocation. The team has made this sacrifice to facilitate this deal and to further prove commitment to the company’s goals. The remaining 133M tokens will be sold from the Incentive allocation.
We have not taken this decision lightly, as one of the inevitable outcomes of it is immediately increasing the circulating supply we presented in January. After careful consideration and long conversations with the investors, we are sure that they are as committed as the team to our goals and are long term holders.
In fact, they have allowed us to make their wallet address public. We’ll publish this address via our Telegram ANN channel soon after this announcement.
It’s important to note that their financial commitment of paying premium to the market price and, of course, the immediate injection of $1M USD demand to the open market, speaks louder than words.Roadmap — what’s to comeOur staking 2.0 model ready for release
Our new staking model allows for a much higher staking volume, which enables many more users to participate in the staking program. If you were on one of our waiting lists, you’ll be able to stake soon. If you’re currently staking, you’ll soon be able to stake a much more substantial amount.
With staking 2.0, we have revamped some of our technology stack to support the new model, specifically, we have upgraded our Transaction Distribution Model, the algorithm that selects which node to use for a transaction. This means that this algorithm will now prefer nodes with higher staking volumes, as an addition to the parameters it currently uses (like trust score, fees and more).
Of course, we’ll also be introducing an exchange based staking model as part of staking 2.0 and we expect this new staking model to lock up a much more substantial amount of our supply than the previous model.
The model is now circulating between trusted partners for their feedback and we expect to present it in the first week of April.
Our tech roadmap has undergone a long awaited update and is ready to release
Our ability to process credit cards and crypto with instant settlement has created multiple opportunities with merchants that would be beneficial to the COTI ecosystem as a whole, from token holders, to merchants to the company itself, opportunities like the recently announced Blockchain Dollars and MyFirstWallet merchant case studies.
We’ll be releasing our updated tech road map next week and that will expand upon these merchant opportunities and give COTI the ability to remain reactive during uncertain times.
Continued new listing opportunities for COTI
While we can’t top the Binance listing in terms of volume, new listing opportunities will address certain niches or geographical locations. We obviously won’t be giving dates — but Binance wasn’t our last listing this year.Last thoughtsIn these trying times, we thank all of our community for their continued support and again communicate our thoughts and well wishes to our community and their friends and families.
Our operations continue as strong as ever during challenging times for our world.
Our roadmap is set to leverage growth opportunities and to continue to release groundbreaking technologies.
As with every crisis, there will be opportunities and winners coming out of it. We want to make certain that COTI and our community are those winners.
Stay safe, stay COTI!
COTI ResourcesWebsite: https://coti.ioTelegram group: https://t.me/COTInetworkGithub: https://github.com/coti-ioTechnical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf Talk with us on Telegram Official Facebook Official Twitter Official Reddit Official Youtube Channel COTI Group |
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April 02, 2020, 02:10:10 PM |
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 Dear COTI community,
We first introduced our staking plans in January 2020 and have since received overwhelming support and demand to participate. The recent and continual growth of our network and processing volume has allowed for better than expected rewards for our current node operators and stakers, while also presenting an opportunity to grow our staking program even further.
We are now pleased to introduce staking 2.0, with increased staking volume, to be launched in May 2020.
Our MainNet nodes will now allow staking of 5M COTI (instead of 100K to 500K), across our two current staking nodes -
1. Community nodes
2. Advanced nodes
Note, staking on nodes will only be available with native MainNet coins.
To facilitate these changes to our staking model, we have also updated our network node selection algorithm. When a transaction needs to be confirmed, this algorithm is used for node selection, picking the node that will process and confirm a transaction This algorithm was originally designed to use parameters such as Trustscore, fees and more however the algorithm will now also take into consideration the amount staked on a node, so that a node with more coins staked, will have a better chance in being picked to confirm the transaction (increasing the node fees, accordingly).
There will be no changes to our TestNet nodes on the staking 2.0 plan, (though their operators will now get their well deserved opportunity to stake in MainNet nodes).
Staking on exchanges is also coming via an additional new program which allows for more flexible staking through various exchanges. Details will be published in an upcoming announcement.
Here are the detailed plans and changes in staking 2.0:
Community NodesCommunity nodes are MainNet Full nodes that have a delegated staking mechanism to include more community members in their operation. Running a node in a payment system is an important task as it involves the confirmation of transactions to real world merchants.
We understand that managing a node requires technical skills that not all participants have, therefore community nodes will be technically managed by a node operator with sufficient technical skills from the community.
Community nodes will now run with a 5,000,000 COTI staked (compared to 500,000 before). In order to serve various needs to different members, we have created three groups with different staking amounts and guaranteed rewards (the reward is the highest of either fees generated by the node or the guaranteed annual reward).
The node operator will enjoy the ability to stake 750K COTI with a guaranteed reward of 35% per annum. The remainder 4,250,000 of COTI to be staked on the community node will split between community members that may stake 15,000-500,000 COTI for 30-90 days, with higher rewards to longer staking periods.
In the example below, we demonstrated several situations for Community Node stakers in the COTI ecosystem: Community Node Stakers Jane, Mary and Bob are Winston Wolfe’s community members and they’ve been chosen to participate in his community node staking. Jane has staked 500,000 COTI, as part of being a member in group I, out of total staking of 5,000,000 COTI (10% of the total staking). Mary has staked 150,000 COTI as part of being a member in group II (3% of the total staking). Bob has staked 15,000 COTI as part of being a member in group III (0.3% of the total staking).
On April 1st, 2020 Winston Wolfe has set a fee of 0.1% and the transaction volume he processed in April was worth 80,000,000 COTI. The total fees are being divided between the community node operator, and the community members, according to their staking amounts. Therefore, in April 2020, Jane earned 12,500 COTI, while Mary earned 3,125 COTI and Bob earned 250 COTI. Since the income received from the fees does not provide the guaranteed rewards, COTI will cover the difference. On May 1st, 2020 Winston Wolfe has set a fee of 0.25% and the transaction volume he processed in May was worth 50,000,000 COTI. Therefore, in May 2020, Jane earned 12,500 COTI, Mary earned 3,750 COTI and Bob earned 375 COTI. Since the income received from the fees was equal or higher than the guaranteed rewards, Jane, Mary and Bob will earn the amount collected from the fees.Advanced Nodes
Advanced nodes are Mainet full Nodes too. The advanced nodes will require staking 500,000- 5,000,000 COTI for a minimum period of 90 days in exchange for the higher between fees generated by the node and the guaranteed annual reward of 25%.
The node will be operated by COTI, securing a 100% uptime, while the staked amount can be splitted between up to 4 stakers, on an invitation base.
In the example below, we demonstrated several situations for Advanced Node operators or stakers in the COTI ecosystem: MainNet Advanced Node Samantha, John and Phil are running an advanced node on COTI’s MainNet; They have staked 5,000,000 COTI from April 1st, 2020.
They have set a fee of 0.1% and the transaction volume they’re node processed in April was worth 80,000,000 COTI.
Rob, Adam and Eve have staked 3,000,000 COTI altogether. They set a fee of 0.2% and the transaction volume they processed in April was worth 50,000,000 COTI.
Therefore, in April 2020, Samantha, John and Phil earned a total of 104,166.66 COTI (since the income received from the fees does not provide the guaranteed monthly reward of 104,166.66 COTI, COTI will cover the difference).
In April 2020, Rob, Adam and Eve earned a total of 100,000 COTI.Summary table: Transaction Distribution Model
Please refer to the below document to learn more about the COTI transaction distribution model and understand how transactions are propagated and spread between the Full Nodes. Our innovative model defines how the probabilistic of transactions are set within the network and introduces the metrics used and taken into account by the node manager to balance and set the fairness factors while choosing the full node that will process transactions and collect the fees.
Read more here.
Calculating earnings and examples
Potential earnings can be estimated using our earnings Calculator.
You can also view our configurable staking rewards calculator here — https://www.stakingrewards.com/asset/coti/calculate
How do we pick node operators and stakers
There has been a great demand for our previous staking plans and we couldn’t meet all of that demand. By increasing the overall staking volume, we can now serve more people. We’ll be opening an early registration and we’ll be giving preference to members that are already actively staking, members that have been put on a waitlist and haven’t been served yet and TestNet node operators.
Timeline
Early registration is now open: https://forms.gle/v21S7ZSJBTdN6SfMA.
Main registration will open in mid-April.
The new node and distribution model will be implemented in COTI’s MainNet at the beginning of May 2020.
Additional details about exchange staking will be published during April.Summary1. Staking per node will grow from 100K-500K to 5M coins
2. Bigger community nodes with 3 level of participations (15K to 500K)
3. Bigger Advanced node (up to 5M)
4. Selection algorithm will gives greater preference to nodes with larger staking volume
5. Only native MainNet coins can be staked on nodes
6. Exchange-based staking
7. Registration in April, launching in May
We’d like to take this chance to thank you for your interest in participating in our plan to change the digital payment industry!
If you’d like to learn more about how to run a Full node on COTI’s TestNet network, please refer to the guide below:
https://medium.com/wolf-crypto/how-to-setup-a-coti-testnet-node-on-vultr-a3710d24f892Stay COTI! |
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COTInetwork (OP)
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April 07, 2020, 11:30:58 AM |
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 COTI is a fully encompassing “finance on the blockchain” ecosystem that is designed specifically to meet the challenges of traditional finance (fees, latency, global inclusion and risk) by introducing a new type of DAG-based base protocol and infrastructure that is scalable, fast, private, inclusive, low cost and is optimized for real-time payments.
COTI is a working product that is already in use and generating revenue. Much has happened at COTI during the first quarter of 2020 with fruitful and very exciting developments in many different aspects including a few working products and the introduction of a new tier of decentralized nodes and Staking, which enables token holders to stake COTI and to earn rewards.
Main takeaways from what’s in plan for the rest of 2020:
1. Dedicated effort to support Staking 2.0 and the increased staking volume, including
2. DAG v2.0 to scale up the number of nodes and improved selection algorithms
3. Leverage opportunities with high-risk merchants (i.e. Blockchain Dollars)
4. Added support for other major assets and stable coins
5. Added features for COTI’s wallet and a native iPhone/Android app for the wallet and COTI Pay, COTI’s consumer app
pBFT — a huge endeavour to allow pBFT consensus on our network. The implementation of DSP BFT algorithm will include elements of decentralized government, reconfiguration, and node decentralized management.
6.Launching GTS, COTI’s Global Trust System, for Bitcoin and Ethereum
Milestones achieved in Q1 2020
We have completed and launched the build of our MultiDAG, the first-ever DAG structure that allows token issuance on top of our DAG-based Trustchain protocol- We implemented ClusterStamp. With the ClusterStamp, older transactions are sent to the history nodes every set of intervals, and only the latest transactions are maintained by the whole network. This prevents the Cluster from growing to an unmanageable size. The ClusterStamp also provides a useful reference point for performing a system-wide audit to ensure that there are no inconsistencies or possible fraud.
- We started to process Credit Card transactions on the COTI network. This is the culmination of over a year’s behind the scenes work to build out the technical infrastructure, banking networks, licenses and expansion of our payment network to support this functionality. This places COTI in a unique position in which we can capitalise on merchants in all industries and offer significant cost savings, without increasing overhead or processes.
- We launched a multi asset COTI Pay wallet including:
- COTI Pay
- BTC Pay
- adaPay
- BEP2 Pay - We launched the first decentralized MainNet node on the COTI network and scaled up since then by launching additional decentralized Full nodes and community nodes.
- We introduced the COTI Staking Platform V1 which produces great rewards for stakers.
- We have launched the Alpha version of COTI’s GTS (Global Trust System)
- We developed the COTI Pay Business CRM for merchants. Via the Merchant CRM they can choose to convert the transaction to a stable coin or directly to one of 35 fiat currencies by adding in their bank account details.
- We introduced our new Explorer which brings greater transparency to our network and network operations.
- We introduced two new merchants case studies: Blockchain Dollars and MyFirstWallet
Technological Roadmap for Q2/Q3/Q4 2020Q2 2020- Introducing the Transaction Distribution Model
The new model defines how the probabilistic of transactions are set within the network and introduces the metrics used and taken into account by the node manager to balance and set the fairness factors while choosing the full node that will process transactions and collect the fees. This is key to staking 2.0.
- Staking Model 2.0 and exchange-based staking
The new model will enable users to stake more coins, for longer periods of time, with a flexible staking structure — both through COTI’s wallet and from exchanges.
- GTS for Bitcoin — production version
Final interface for everyday use, which will allow analyzing BTC wallet addresses and classify them into risky and non-risky categories.
Additional cryptocurrencies to COTI Pay wallet
- Launching “Blockchain Dollars”
A wallet and payment system, dedicated to the gaming space, using FIAT and stable coins, that allows gaming merchants to accept stable coins as a form of payment based on a white-label version of COTI’s payment infrastructure.
- Implementation of the MultiDAG in the COTI wallet
The implementation will integrate all supported operations of multiDAG in the COTI native wallet which will show the total balances and tokens users have. In addition, add support for MultiDAG tokens also in the explorer as well as deploy the token issuers application which will allow anyone to deploy and mint his dedicated tokens over the COTI infrastructure.
- DAG 2.0 base structure
The implementation will improve the validation of transactions in the DAG structure as well as allow nodes to operate even when a missing transaction exists. The new mechanism will get all missing information from history nodes + financial nodes and ensure more efficient operation of full nodes in the network.
Improve nodes scalability and synchronization
The implementation will improve the synchronization process of new nodes joining the network as well as synchronize the current clusterstamp and transactions to make sure all full nodes are operating properly.
- COTI-X
We delayed COTI-X from Q1 to Q2 as we are improving its model and building a fiat on/off-ramp system with APIs to various liquidity providers and exchanges (instead of a basic cryptocurrency exchange which is not really needed in the space now).
Q3 2020- Launching COTI Pay consumer app
- An iPhone/Android app that is consumer oriented, that allows the storage of COTI’s coins, BTC, Stable coins and other assets
- Serves as the basis for COTI DeFi and Prepaid card
- Adding major stable coins to COTI Pay
- COTI DeFi — COTI Pay business
Gain interest and take loans
- Presenting initial Consensus Protocol for DSP
At the DSP-BFT stage we plan to implement one of PBFT-like consensus variants in full. This stage will include:
- “View changes” or similar mechanism
- Leader election
- “Fast path” for processing most transactions
We are also considering using advanced signature schemes (Schnorr signatures, BLS signatures, etc).
- MainNet wallet v.2
Including bridge integration
Q4 2020- Deployment of Consensus (pBFT) in TestNet
At this stage we plan to add non-transaction polls. It will be a “slow path” of voting because non-transaction (and not leader selection) polls are less urgent and should have less priority. This category of polls includes:
- New Full node adoption
- DSP-Nodes set reconfiguration
- Possible some distributed government polls
- Deployment of Consensus (pBFT) in MainNet
At this stage, we will deploy the new pBFT consensus mechanism to MainNet.
 Stay COTI!COTI ResourcesWebsite: https://coti.ioTelegram group: https://t.me/COTInetworkGithub: https://github.com/coti-ioTechnical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf Talk with us on Telegram Official Facebook Official Twitter Official Reddit Official Youtube Channel COTI Group |
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gembira
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April 12, 2020, 09:33:04 PM |
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Can you describe your DeFI? Is there will be just loans in Coti coins or in other currencies too?
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COTInetwork (OP)
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April 16, 2020, 09:24:05 AM |
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 COTI’s much-awaited Staking 2.0 program will launch in May 2020, allowing more participants to apply with a much higher staking volume.
On April 1st, we opened early registration and the demand has been overwhelming, massively exceeding our expectations. Wow!
Pre-registration is now closed and we would like to thank all those who applied and showed so much interest in COTI’s staking program.
Staking 2.0 offers each Community node and Advanced node the possibility to stake a total of 5M COTI: Early-Registration was a complete success with over 700 users requesting to join with over 200M COTI in demand to be staked!The early registration was helpful in helping us evaluate the demand to participate in the COTI staking model, before the program launches on May 1st. As promised, we are giving priority to those who registered early and to those who were already actively staking, our TestNet community and for those who were already on our waiting list from Staking 1.0.
Here are some stats from the early-registration:
- Over 110M COTI are requested to be staked in Advanced nodes
- Over 142M COTI are new stakers request
- Over 97% of stakers currently staking are requesting to continue staking on staking 2.0
What’s Next?1. Priority will be given to those who applied in the early registration, to TestNet operators, approved stakers from the Staking 1.0 program and users in the previous waiting list.
2. All these users will receive an email with the formal registration link, 24 hours before anyone else.
3. The formal registration will officially open next week and will take place in your CPS account, so if you still don’t have one, please make sure to open it soon.
4. The onboarding process will take place a few days later. If you have been approved for staking 2.0, you’ll receive an email confirmation from us and you will be able to easily stake the approved amount via your MainNet wallet. Just click on the “stake” button and you’re in!Stake COTI, Stay COTI!
COTI ResourcesWebsite: https://coti.ioTelegram group: https://t.me/COTInetworkGithub: https://github.com/coti-ioTechnical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf Talk with us on Telegram Official Facebook Official Twitter Official Reddit Official Youtube Channel COTI Group |
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April 17, 2020, 08:42:42 AM |
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 Recently, we introduced the COTI Staking 2.0 with increased staking volume, to be launched on May 1st, 2020.
As promised, we will gradually support staking on all major exchanges we are listed on and through all of our tokens, including Native and ERC20.
We are happy to announce that the first exchange that COTI confirms integration with is KuCoin and the first plan chosen is the Pool-X program, launching next week. We chose Pool-X as our starting point as it can be configured very similar to the current plans on COTI nodes. Pool-X will enable KuCoin users to stake via KuCoins’ wallets while earning COTI coins and extra POL rewards. This will also allow COTI to increase even more the overall staking volume offered to our users, to meet the staggering demand for the staking 2.0.
KuCoin has been the first exchange to list COTI and we are happy to further advance our partnership with KuCoin.
Campaign details:
Pool-X will launch the campaign at 20:00:00 on April 20, 2020 (UTC+8). The available products are COTI-30 (30 days staking) and COTI-90 (90 days staking).
Subscription Period: 20:00:00 on April 20, 2020 to 23:59:59 on April 26, 2020 (UTC+8)
During the staking period, in addition to the staking benefit of COTI users can also get a share of the mining rewards of 250,000 POL every day!
Product details can be found in the table below and in the Pool-X website. During the subscription period, all KuCoin users can go to the ‘Staking’ page of the Pool-X website and choose their desired product to stake. Check the tutorial of the subscription.
For additional information, please visit here:https://www.kucoin.com/news/en-stake-coti-and-earn-high-interest-on-pool-x
As mentioned, other plans and exchanges are in process and will be announced in due time.
Stake COTI, stay COTI!
COTI ResourcesWebsite: https://coti.ioTelegram group: https://t.me/COTInetworkGithub: https://github.com/coti-ioTechnical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf Talk with us on Telegram Official Facebook Official Twitter Official Reddit Official Youtube Channel COTI Group |
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April 21, 2020, 09:47:57 AM
Last edit: April 23, 2020, 03:32:39 PM by COTInetwork |
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COTInetwork (OP)
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April 23, 2020, 03:38:29 PM |
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COTInetwork (OP)
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April 23, 2020, 04:09:35 PM |
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 We are thrilled to announce the official opening of the main registration to COTI Staking 2.0!
With a successful pre-registration and overwhelming interest in KuCoin’s COTI staking program, there is now more demand than supply for the new COTI staking 2.0 program. With over 700 users and a total of over 200M COTI requested to be staked, this new model will ensure that more users are able to join in with a higher staking volume. The official registration to join the COTI Staking program is now made available through the COTI website or from a COTI CPS account. Staking itself is initiated directly from within the user’s wallet and from there only.
We remind our community to protect yourself and remain aware of the scam attempts and we invite you to read COTI’s Anti-Scam Guide.How to apply for COTI staking program
1. Go to the COTI Staking page on our website and click “apply for staking” or click this link directly. 2. Login to your CPS account 3. Fill the form and click “Submit” 4. Your onboarding request is now pending and is being reviewed by the team. An email will be sent to you upon approval of your request. Receiving a confirmation email would mean that you have been approved to stake in Staking 2.0. 5. Once approved, Go to your MainNet wallet and click “STAKE” in your staking dashboard. *You will have 72 hours to stake otherwise, your approval will expire and your seat will be given to another user.
*the stake transaction will be done with the remaining amount for the upgrade to be.6. Congratulations! You are now a part of Staking 2.0.
Important: if you don’t have the “stake” option in your wallet, this means that you weren’t approved as a staker for COTI for the current staking cycle.
We remind you that priority will be given to those who applied in the early registration, to TestNet operators, approved stakers from the Staking 1.0 program, and users in the previous waiting list.
For any questions, you can email us to staking@coti.io.... For full details on Staking 2.0, visit here.
We remind you that in order to get your staking rewards, you need to claim it. To learn how to claim your rewards, visit here.
For the unstake process, visit here.
Potential earnings can be estimated using our earnings Calculator.
You can also view our configurable staking rewards calculator here — https://www.stakingrewards.com/asset/coti/calculateStay COTI!
COTI ResourcesWebsite: https://coti.ioTelegram group: https://t.me/COTInetworkGithub: https://github.com/coti-ioTechnical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf Talk with us on Telegram Official Facebook Official Twitter Official Reddit Official Youtube Channel COTI Group |
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gembira
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April 25, 2020, 08:22:32 PM |
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We are happy to announce that the first exchange that COTI confirms integration with is KuCoin and the first plan chosen is the Pool-X program, launching next week. Does this means that kucoin launched your nodes? And how many nodes they have if yes? |
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COTInetwork (OP)
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April 28, 2020, 09:52:19 AM |
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COTInetwork (OP)
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April 28, 2020, 10:09:45 AM |
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gembira
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April 30, 2020, 11:47:14 AM |
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I could not understand... Is this just a lock program where you have agreement with kucoin to distribute extra tokens? What about nodes and security your network? |
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bisti
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May 06, 2020, 05:56:24 PM
Last edit: May 06, 2020, 06:10:31 PM by bisti |
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I have seen dosen of people that are unable to UNSTAKE from the official web wallet. Every time I ask question about that they tell me to contact them via email.
What seems to be the problem?
Why can't I UNSTAKE and when will I be able to UNSTAKE? It throws just error "unstake error" and that is it.
Is there a lockout period or something (which isnt mentioned anywhere)?
I dont understand why admin can't answer simple question on channel so everyone else (who are wondering the same) can see the answer as well?
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