TestNet Node Manager and History Nodes — Q3 2019

The Node Manager is a mechanism that promotes network discovery and connectivity, enabling anyone to join the network as a node operator and run any type of node. We’ve already released the initial version and have moved on to creating an Automatic Network Discovery Algorithm (ANDA). This will offer an automated way to discover neighboring nodes and uphold network decentralization for added security.

As for History Nodes, they are crucial because successful payment systems typically process one billion transactions per year. With a transaction size of approximately 5KB, this means that one year will produce several terabytes worth of transaction data. That is a lot of storage space, and it will not be resourceful for a single node manager to store all transaction records. This is where History Nodes come in, providing the necessary service to store complete transaction history.

We have commenced work on the first implementation of our TestNet Node Manager and History Nodes.

History Nodes Architecture

MainNet node operator and staking model — Q4 2019

COTI provides a decentralized solution designed to enable secure and trustworthy payments. This solution relies on the distribution of Trustchain responsibility to several types of nodes that are run by users. Nodes are needed to verify transactions and to ensure that the COTI network remains safeguarded against potential fraud and cyber manipulation.

Network participants are required to stake COTI coins in order to run nodes. Critical nodes in our system, like the DSP Node and Trust Score Node, require higher trust scores and more coin staking to run their respective nodes. We have released the first version, which validates an operator’s eligibility to run network nodes and are working towards an official release to support node staking.

Ability to issue new tokens — MultiDAG, ClusterStamp — Q4 2019

With the ClusterStamp, older transactions are sent to the history nodes every set of intervals, and only the latest transactions are maintained by the whole network. This prevents the Cluster from growing to an unmanageable size. The ClusterStamp also provides a useful reference point for performing a system-wide audit to ensure that there are no inconsistencies or possible fraud.

As for the MultiDAG, it means that COTI won’t be bound to one instance of a DAG. The COTI MultiDAG is similar to Ethereum, as a common decentralized infrastructure is the basis for a multitude of different tokens and smart contracts and one main coin for paying fees. Moreover, the MultiDAG will enable merchants and enterprises to issue their own token.

Our R&D team has already begun working on the full specification for the ClusterStamp and MultiDAG in preparation for the Q4 2019 timeline.

MultiDAG

Global Trust System (GTS) — Q4 2019

To mitigate risk and ensure a trust-based system, we are introducing the COTI Global Trust System (GTS), which blacklists users tied to fraudulent activity. We are also implementing classification techniques to categorize transactions based on their associated risks. Finally, our proprietary scoring mechanism, a byproduct of transaction classification, measures the trustworthiness of a user in any cryptocurrency network.

The COTI GTS empowers any infrastructure or chain to leverage efficient behavioural tracking — a data layer that is chiefly missing in the crypto world — to calculate trust scores and risk indicators for consumers and merchants. All components of COTI’s GTS can be integrated seamlessly into any blockchain network and do not require any further technological implementations from existing platforms.

COTI’s Universal Payment System

Our second major target for Q3/Q4 2019, besides the new MainNet developments, is to further advance our Universal Payment System. This provides merchants with a holistic digital payment solution that enables them to enjoy the best of cryptocurrencies and credit card processing. Some of the advantages are instant settlements, no FX costs, fraud protection, buyer-seller protection and more.

Some of our milestones for Q3 and Q4 2019 include: