COTI Live AMA
July 5th 2022
Welcome to the COTI Live AMA with The Gem Hunters, we would like to thank everyone who attended the live session, well this is a recap of the Live AMA session we had with COTI.
Aryan|TGH@TheGemHunterstg : To kick this off can we get a quick intro to COTI for anyone who doesn’t know yet please?
Yair/Team@COTI : Sure, so a quick introduction of myself, my name is Yair Testa, Head of Business Development here at COTI. I Have been in the industry since 2017. In a nutshell, COTI is an enterprise-grade layer-1 that specializes in providing a reliable, secure, fast, and cheap solution for enterprises to build payment systems on top. In regards to our technology, we built our network from the ground up (it’s not a fork of any kind of existing solutions) and it’s based on a DAG (Direct Acyclic Graph) technology that is superior to current block-based architectures in many parameters such as scalability and operational costs. Actually, we are one of the few companies that are structured and designed to actually meet the enterprise’s needs and standards. COTI has a unique technology, we developed an enterprise-grade product and we offer a complete. A to Z Whitelabel commercial solution for Enterprises. When speaking about COTI technology, I personally like this video that explains our confirmation process and consensus mechanism (Proof of Trust) quite nicely: https://www.youtube.com/watch?v=4q6_O5TZrgM&t=4s
Aryan|TGH@TheGemHunterstg : Now we have a brief idea what COTI is trying to achieve lets get some info on the team itself please!
Yair/Team@COTI : Sure thing, so we currently have about 40 employees working full-time at COTI. The team includes engineers, mathematicians, economists, researchers, and veterans of both the fintech and banking industries. In terms of our leadership, they are all really very talented people. Just to mention a few, Shahaf Bar-Geffen COTI’s CEO is known as the founder of the WEB3 Group and of Positive Mobile (both of which were acquired). Dr. Nir Haloani is COTI’s CTO, holds a Ph.D. in applied mathematics, and is the author of 14 different patents in the fields of AI and machine learning. He sold his previous company to IBM and was their Head Of Research. For the full Team list please visit here: https://coti.io/team 🙂
Aryan|TGH@TheGemHunterstg : It was revealed during the Cardano Summit by Charles Hoskinson, Cardano’s founder, that COTI will become the official Djed issuer of Cardano’s new stablecoin. Is coti built in a way that is able to integrate with any ecosystem fantom or ethereum? if so why the focus only on cardano?
Yair/Team@COTI : This is a very interesting question, that I personally hear a lot. So I’ll try to be as clear as possible. Basically, people sometimes get confused about why we spend resources and develop in other chains, such as Cardano, if we have our own network. Our core business is indeed developing on top of our Trustchain protocol (COTI’s native chain), and we are currently in the stage of designing and developing payment systems for enterprises on top of it. Having said that and given the expertise of our team in areas such as blockchain, banking, payments, and our company development capabilities, we also act as a technology provider and develop protocols in other chains. Always within the framework of payment solutions. In regards to Cardano specifically, we have had a great relationship with them over the last 3 years. Worth mentioning that the Cardano ecosystem venture fund (cFund) announced its first VC investment in COTI. We developed ADA Pay in 2019, which is a successful payment solution for Cardano that allows accepting $ADA as a payment method, and we are powering Djed, the first Cardano native crypto-backed algorithmic stablecoin as you mentioned correctly. With this case study of Cardano, I believe we proved to the world that we are able to not only develop our own chain but also successfully develop payment systems on other chains. In theory, we can do the same for other chains as well, but we do need to have a business incentive to do so.
Aryan|TGH@TheGemHunterstg : COTI has just announced the release of the FoxNet version of the MultiDAG 2.0, which will allow the release tokens on top of COTI. Can you run through just how significant this is and how COTI will define a new token standard relating to the $COTI Native coin in the same way ERC20 tokens relates to $ETH.
Yair/Team@COTI : Great question! I believe MultiDAG 2.0 is one of COTI’s biggest milestones to date for us, as we are moving from a single-coin chain to a multi-token chain. Worth mentioning also that COTI’s MultiDAG is the first-ever DAG structure that allows token issuance on top of a single DAG.This achievement was made possible by combining independent DAG clusters into the overall COTI network. The COTI MultiDAG ecosystem is similar to other layer-1s, in the sense that both infrastructures act as the basis for a multitude of different tokens while utilizing one main coin for all fees. in our case, the COTI coin. In other layer-1s, token issuers are limited by the overall rules and performance of the network as a whole. On the COTI MultiDAG, token issuers retain control of their own rules, and instances are not limited by the overall performance of the network. This allows for almost limitless instances and tokens to exist without any network degradation. MultiDAG instances retain the ability to access all the overall COTI network features such as high scalability, low transaction costs and privacy.
Aryan|TGH@TheGemHunterstg : We know the market isn’t looking the best now, plus the economy looks dreadful with a recession looming. People don’t want to invest or part with their cash, so can you give us some insight into what else we can expect in the near future regarding upcoming catalysts and why people should chose to invest in COTI now?
Yair/Team@COTI : I understand the crypto space, and in my opinion, the world, in general, is passing through a period of high uncertainty fear, and volatility. But what I can say is that COTI as a company isn’t really affected by it. We are still growing our team and building like never before. We are confident that this will pass and COTI will come out stronger. It’s not our first bear market.We have COTI’s MultiDAG 2.0 mainnet launch this summer as well as Djed’s mainnet launch. Apart from that, we are talking with a few enterprises regarding possible collaborations. There are many exciting things that I didn’t mention, so I suggest you follow our channel to stay up to date.
For more information on COTI refer to the links below :