Technology updates from the COTI Research and Developers team
May 03, 2018.
There has been great progress in COTI’s R&D over the past few months. We are excited that our TrustchainTM protocol is moving closer to the point of mainstream adoption around the world. Progress on our Trust Score algorithms, Mediation System, COTI protocol and the release of our alpha net is happening quickly. Our research and development teams have also been expanding in parallel to meet the demand.
- We have finalized the first release of the COTI Trust Score algorithm and defined two types of Trust Scores, which we will be implementing in our decentralized TS nodes: Initial Trust Score Algorithm (ITSA) and Trust Score Update Algorithm (TSUA). The Initial Trust Score Algorithm (ITSA) is run when a new user joins the network. This uses prior information about the user to estimate their opening Trust Score in the network. The inputs to this algorithm include KYC/AML and other personal data, while the output is the starting Trust Score assigned to the user, and possibly other supporting information. The Trust Score Update Algorithm (TSUA) is run regularly for existing users of the COTI network. It updates each user’s Trust Score based on their behavior in the system. The inputs to this algorithm are the previous timestamp and Trust Score for a user and all network behavior since that time. The output of this algorithm is the updated Trust Score for that user.
- We have made significant advancements in defining the COTI Mediation System’s first prototype. The COTI Mediation system provides a quick, reliable and inexpensive way to resolve disputes. This highly demanded feature is not possible with other cryptocurrencies. In COTI’s Mediation System, disputes are resolved by a mediator jury, which is randomly selected from a large pool of highly trusted network participants. The process of forming the mediator jury, decision-making and settlements is completely decentralized.
- Intensive work on our first merchant integration solution is in progress. The solution will consist of our first frontend web application, the COTI wallet, and a backend COTI layer, which will serve both the wallet application and third party API calls from a merchant’s backend servers. The intention behind our initial release (prior to the alpha net) is to demonstrate the actual use case and features of COTI’s online payment solution. As such, the ecosystem includes a COTI wallet, a mediation process, Trust Score, distributed COTI backend nodes and fees.
- Our research team has been working around the clock to finalize the first draft of COTI’s base protocol. We will have many more updates in the upcoming weeks.
- Our research and development team is in the process of designing an innovative and secure flow that will enable users to reset their wallets and reactivate their blocked account and funds.
The COTI community is continuously to grow at a rapid rate. As a coin of appreciation to our community, we are excited to announce that in the upcoming month we will be launching a special pre-sale limited to our community
If you have any questions, you are welcome to get in touch with us on Telegram or via email. We will be providing further updates in the near future.
