Completing PoW tasks allows validators to attach their transactions to the Cluster, but it doesn’t guarantee that they can do so.
PoW is only used to protect COTI from spamming attempts and incentivize network participants. It doesn’t rely on mining to achieve trust. In COTI, PoW isn’t adopted in the way we’re accustomed to. As transactions with different Trust Scores will be processed in parallel, it can achieve scalability and network security. As a result, transactions from trusted users will be confirmed much faster. When a user initiates a transaction on COTI, the Source Selection Algorithm will randomly assign two validating nodes with similar Trust Scores. The higher the Trust Score, the quicker their transactions can be processed and the lower the fees. Each user and node in the Cluster are rated according to their Trust Scores, calculated by their historical behavior and payment statistics. In the PoT system, validators are selected based on their trustworthiness. For a new transaction to be acknowledged, the validating nodes must link it to two prior transactions.īut which transactions should they link? It depends on their Trust Score. Instead of gathering transactions into blocks, transactions are placed in sequence, one after the other. The COTI DAG is called “the Cluster”, a distributed ledger for recording transactions on the network. To address scalability issues, COTI combines Trustchain, a DAG-based data structure, and Proof of Work (PoW) to create the Proof of Trust consensus mechanism. It can significantly lower transaction costs and increase throughput to up to 100,000 transactions per second ( TPS ). The COTI network is built on Trustchain, a layer-1 blockchain protocol with a directed acyclic graph ( DAG ) data structure. For example, Bitcoin can only handle around 20 transactions per second, compared to Visa’s 65,000 TPS. However, there’s a waiting period for the blocks to be accepted, which could take a long time to confirm the transactions. They process transactions using blocks, which are added periodically to a growing chain of blocks. Scalability has been a challenge for major blockchains, such as Bitcoin (BTC) and Ethereum (ETH). Built from the ground up, from Layer 1 to Apps, it will serve as a fully encompassing ecosystem. It uses Proof of Trust (PoT) - a combination of PoW and DAG - to achieve consensus.ĬOTI is aiming to build the next generation of financial and digital products encompassing various aspects of the new digital economy. COTI is addressing the challenges of both centralized and decentralized finance (CeFi and DeFi) by introducing a new type of DAG-based protocol and infrastructure that is low-cost, fast, scalable, private, and inclusive. It aims to revolutionize traditional finance by eliminating the intermediaries and empowering organizations to build their own payment solutions and digital currencies or stablecoins on top of the Trustchain protocol.ĬOTI is a layer-1 fintech blockchain ecosystem specifically designed for payments. The COTI MultiDAG 2.0 will allow developers, merchants, and enterprises to issue tokens that inherit Trustchain abilities, such as scalability, high throughput, low cost, and easy-to-use payment tools like COTI Pay Business.ĬOTI is a blockchain ecosystem that facilitates fast and secure transactions with low fees. You can also use COTI and other cryptocurrencies to pay for goods and services with the COTI Visa debit card. COTI is used for paying transaction fees and can be staked to earn rewards in the Treasury. Its native token COTI is a cryptocurrency that operates on three different mainnets. PoT can lower transaction costs and increase throughput to up to 100,000 TPS.
It adopts a unique consensus algorithm called Proof of Trust (PoT), which combines directed acyclic graph (DAG) data structure with PoW. Unlike traditional blockchains, COTI doesn’t rely on Proof of Work (PoW) or Proof of Stake (PoS) to validate transactions. COTI is a layer-1 blockchain ecosystem designed for payments.
0 kommentar(er)
