A recent announcement from cryptocurrency newcomer COTI (short for the Currency of the Internet) has interesting and perhaps industry-altering ramifications. The company has the potential to launch cryptocurrency to a point where it is capable of providing payment services across the globe in a far quicker and more reliable fashion than the current fiat system.
COTI has launched a full service, an end-to-end payment alternative. It is based on Proof-of-Trust (PoT), and is called Trustchain protocol. Trustchain is a solution for several commonly cited blockchain issues such as scalability and transaction fees.
In order to understand the value of Trustchain and its PoT validation system, it is important to understand cryptocurrency’s history based on the blockchain, as well as emerging trends that emphasize the need to solve these ongoing issues surrounding the use of cryptocurrency as a large scale payment system.
Trust is one of the primary founding principles of…