COTI , the native currency of COTI Layer 2, experienced a significant increase in February, rising more than 280%. Over the past week alone, COTI has more than doubled in value, surging approximately 130% and hovering around $0.22 on February 29, 2024.
This increase is largely due to a series of technological advances that have attracted investor interest . In this article, we will discuss some of the main factors contributing to COTI's rise.
COTI has seen an incredible increase of over 280% in February, with an increase of around 130% in the last week alone.
Recent developments of the project have contributed to its growing appeal.
At its core, COTI is designed as a privacy-focused, integrated fintech platform that aims to revolutionize digital transactions with a decentralized payment network, stablecoins , and multi- DAG data structures .
Analysts remain optimistic about COTI's future, expecting further price increases based on its technological innovation and market position.
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What is COTI?
COTI stands for “Currency of the Internet” and is a pioneering fintech platform that seeks to revolutionize digital transactions by offering a decentralized payment network and stablecoins.
COTI is built on a multi-DAG (Directed Acyclic Graph) data structure, which allows it to process more than 100,000 transactions per second, offering a scalable, fast and cost-effective alternative to traditional blockchain systems.
At the heart of COTI's innovation is the Trustchain algorithm, which operates on a DAG data structure rather than a conventional blockchain. This approach significantly reduces transaction costs and increases processing speed to 100,000 transactions per second.
COTI uses a new consensus mechanism called Proof of Trust (PoT), which combines elements of Proof of Work (PoW) and DAG. This mechanism scores users and nodes in the network based on their historical behavior and payment statistics, assigning a Trust Score that influences the speed and cost of processing transactions.
Additionally, COTI's MultiDAG 2.0 layer facilitates the creation of enterprise tokens, merchant tokens, and governance tokens, enabling the issuance of branded stablecoins such as Cardano's Djed and ADA Pay payment systems.
Essentially, COTI is intended to be not only a cryptocurrency but also a comprehensive financial ecosystem designed to modernize and simplify digital transactions for businesses and consumers.
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COTI Latest Developments
COTI has made significant developments in the cryptocurrency space, which has sparked investor interest in the cryptocurrency. Here are some of the more important developments.
1. Garbled Circuits in Blockchain
COTI has successfully demonstrated the application of Garbled Circuits to the blockchain, a cryptographic technique that allows two parties to jointly evaluate functions on their input without a trusted third party.
In a February 2022 Medium post, the project said it had "achieved a revolutionary breakthrough in garbled circuits" allowing the technology to be used on a blockchain for the first time. This marks a major step towards improving privacy and computational efficiency on blockchain.
2. Protokol Multi-Party Computation (MPC)
Earlier this month, COTI announced that it had integrated its advanced Multi-Party Computation (MPC) protocol into its Ethereum-based L2.
This protocol enables calculations that require confidentiality, allowing sensitive data to be calculated collectively without being shared, which is important for privacy concerns or regulatory requirements.
$100 Million COTI Development Fund Recently, the COTI Foundation announced the target use cases and focus areas for its $100 million development fund, all of which will be allocated in COTI tokens.
The fund aims to support projects in various sectors, including decentralized finance (DeFi), data management, artificial intelligence (AI), GameFi, and more. Developers are encouraged to apply for funding through a selection process.
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What to Expect Next from COTI?
With its innovative technology and growing ecosystem, COTI has gained traction as a promising blockchain project. This has led to a number of bullish forecasts, with predictions showing significant growth potential.
There are several reasons why someone might choose to invest in COTI (Currency Of The Internet) tokens. Here are some of them:
1. Innovative Technology
COTI uses innovative technologies such as Directed Acyclic Graph (DAG) and Proof of Trust (PoT) to increase the scale, speed and security of transactions. This can be attractive to investors looking for projects with different technologies and the potential to bring about change in the industry.
2. Payment Infrastructure
COTI aims to be an efficient and reliable payment infrastructure for digital transactions. With a focus on low costs, high speed, and confidentiality, COTI has the potential to become a major player in the digital payments space.
3. Extensive Use Cases
COTI tokens are used for various purposes within the COTI ecosystem, including payment of transaction fees, network incentives, and participation in governance decision making. With wider adoption of the COTI platform, demand for the COTI token could increase, potentially driving its value higher.
4. Partnership and Integration
COTI has partnerships with various companies and projects, including technology companies, payment marketplaces, and DeFi applications. Further integration with these projects could bring increased adoption and use of the COTI token.
5. Growth of the DeFi Ecosystem
With the continued development of the DeFi ecosystem, there is increasing demand for infrastructure that supports secure and efficient digital transactions. As a protocol focused on payments and security, COTI can leverage this growth to increase its value.
How to Buy Coti (COTI) on Bittime
You can buy and sell Coti (COTI) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Coti (COTI) is available on Bittime with the market pair COTI/IDR . To be able to buy COTI IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Coti (COTI) on Bittime .
Monitor price chart movements of Coti (COTI), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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