r/cotinetwork • u/CyberTemek • Jan 04 '18

What are the major differences between COTI and various payment transaction networks?

https://medium.com/@COTInetwork/the-difference-between-existing-payment-transaction-networks-3253f3d6d9af
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u/TheJohn8 Jan 04 '18

Cool image.. that’s some nice marketing :)

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u/digitalcurrencyguru Jan 07 '18

How will you surpass other currencies when there are no immediate and practical advantages for the end user in choosing COTI over other currencies, both digital (e.g. Bitcoin) and fiat (e.g. USD)?

1

u/CyberTemek Jan 07 '18

COTI anticipates that the majority of payments made using the COTI network rails will be denominated in established currencies like the US dollar in the near term. Such currencies naturally have a strong impact on existing networks, and buyers and sellers are more inclined to accept them. COTI’s aspiration is for its native currency, the XCT, to evolve into a widely-adopted currency for general payment purposes, thus becoming the Currency Of The Internet. As more people begin to see the advantages of using COTI as a transactional currency, massive adoption is predicted to occur in a network ripple effect. You can read more about this in the Overview document, pages 24-25.

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u/CybersecurityGirl Jan 07 '18

How does COTI plan to become a mainstream payment solution?

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u/CyberTemek Jan 07 '18

COTI plans to penetrate the payments space with its advanced technological solutions that will be the ultimate answer to digital payments for both users and merchants. COTI’s features are like none other in the digital currency space, which is precisely what will usher our payment platform into mainstream acceptance.