COTI serves as the native token of the COTI ecosystem, which enables merchants, financial organizations, and payment service providers to easily build and launch their own payment solutions.
The COTI ecosystem prioritizes scalability and speed, offering users instant settlements for cross-border payments, along with low transaction fees. In addition to building payment solutions, users can issue their own stablecoins pegged to an asset of their choosing, resolve disputes between merchants and customers using COTI’s dispute resolution system, access financing opportunities, deploy blockchain-powered loyalty programs, and more.
The COTI Network uses a proprietary Proof-of-Trust (PoT) consensus mechanism known as Trustchain, that relies on nodes to verify transactions based on trust scores. Trust scores are calculated based on a variety of factors, including the user’s Know-Your-Customer (KYC) and Anti-Money Laundering (AML) information, current account balance, record of disputes, and more. To run a node, potential operators must stake COTI to help secure the network in exchange for token rewards.
What is COTI (COTI)?
COTI tokens serve as a medium of exchange for payments between COTI users and their respective customers. In addition, they are used for staking, paying transaction fees within the COTI ecosystem, and as collateral that merchants need to put up to cover costs in case of lost disputes.
How to buy COTI (COTI) on Binance.US
Deposits and withdrawals are now open for ERC20 and BEP20 COTI*.
*Please note that Binance.US supports Ethereum (ERC20) and BNB Smart Chain (BEP20) COTI deposits and withdrawals. We will be unable to recover tokens sent to the wrong network address. For more information on the networks that Binance.US supports, consult our full list of supported assets and networks.
Note: This article was last updated on April 6, 2022. Deposits for COTI first opened on April 5, 2022 at 5 a.m. PDT / 8 a.m. EDT. Trading opened 24 hours later, along with the "Buy Crypto" functionality.
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