Weekly tech roundup from the COTI Research and Development team
December 5, 2018
During the last weeks, the COTI R&D team has been hard at work on the technical milestones for our roadmap and upcoming TestNet release.
- We launched the COTI Pay platform, which enables consumers to pay merchants with COTI Dime tokens in exchange for merchandise sold on e-commerce sites. COTI Pay consists of a frontend web application, inclusive of a digital wallet, as well as a backend layer that serves both the wallet application and third-party API calls from the merchant’s servers.
- We launched COTI-X exchange platform, which serves as an enabler of cross-currency payments by providing network participants a straightforward mechanism for paying or receiving funds in whichever currencies they choose, regardless of their counterparties’ preferred currencies. In addition, it is an enabler of liquidity in which COTI’s native currency serves as the common denominator amongst all other currencies.
- We implemented the first version of the Trust Score Node Update Algorithm, which handles communications between the Trust Score Server, Full Nodes, Arbitration System and wallets. Moreover, we implemented event cascades in the COTI ecosystem and their decay/effect on Trust Scores.
- We finalized the first release of Node Trust Scores and are currently working on node onboarding through the node manager and our onboarding system (CCA).
- We released the first version of our network discovery node, which enables nodes to connect to one or more specific servers according to their classification. COTI has implemented a distributed node management system that works using a simple static router. This system is dedicated to allocating connections between different network components to ensure a balanced, stable and highly scalable network. It maintains a list of the various nodes in the system, their Trust Scores, current connections and various details concerning their fees, geographic location and more. This setup will enable simple monitoring and adjustments to the network.
- We began developing the fee framework for the COTI ecosystem and financial nodes, including those for Full Nodes and network fees. We also added the ability to distribute the collected fees to other network components, such as the DSP Node and Trust Score Node.
- We defined the payment request framework through which merchants will be able to integrate with COTI Pay. The idea behind this is to offer a framework similar to the ‘Pay with PayPal’ button, which merchants will be able to embed on their websites for easy checkout.
COTI will be hosting Cardano’s next event in Tel Aviv on 12 Dec, 2018 at 6:30 pm! If you’re in the area, be sure to register for the exciting meetup as spots are limited. We look forward to meeting you!
Stay tuned for more updates!
