Introduction
If you have decentralization in your heart, forget to try COTI. I checked the video made by the project himself and creating a wallet; you need to make the KYC identity.
Even if you aim and focus it to gain mass adoption of crypto as a payment processing system. This is against the essence of the philosophy of the mindset of decentralization.
Okay, at least they give us a tiny amount of 100 COTI when you create an account as an incentive. In the current value, you cannot even buy a coffee!
Why do I need to comply with regulations just to have the right to use the network? I believe is an element that will not get traction with this project, that why it is always important to do your own research.
Activity in their social networks
They post regularly and this is a good thing that proves the team is working toward the mission of the project. It brings confidence from the perspective of users and potential investors.
They have the presence in 11 social networks, but seem not active anymore on:
- Steemit
- Youtube
I followed the project with the Medium feed.
Documentation
The technical document is an obscure document where you need a Ph.D. to understand the technology. This is a big mistake because is confusing people if the solution is worth it or not.
At least, the 3 other documents are easy for anyone to understand what the company is trying to accomplish. The concentration span time these days, are very short and people need to grasp rapidly what you do.
Otherwise, they will move on from the website and never come back.
Links of the documents:
What is COTI?
Basically, with the investigation I did so far, it is a Paypal on the steroid that includes a cryptocurrency gateway.
What is cool, they use the DAG technology and with it, they can process easily 10000 TPS. In comparison with POW where you can make far less on the Bitcoin ecosystem as an example.
The question that comes to my mind. What do I need to use that instead of Paypal or the banking system? Right now I can't ask this question because I don't see the potential.
COTI vlog
I created a vlog about the important elements of COTI with the information listed on their website.
You can watch it and join my channel Crypto & Coffee if you enjoy my style and content.
Conclusion
The thing I dislike very much is the mandatory process to validate your identity just to use the wallet. That is the reason I will not move forward with this project.
At least, this will provide a way for crypto enthusiasts to have protection like Paypal in the crypto space. It is centralization in mind that replicate what exists already with the banking system.
Everything will be tracked and you need to justify where the money comes from with transaction over $15000.
Do your own research and visit the website at this link.
You can check other cools articles:
- Synthetix – a DeFi Project with Potential on the Ethereum Network
- Synths – Trade and Invest in Crypto Virtual Assets
- Enjin is Taking the World of Gaming Industry with Blockchain Technology
- Publishers Can Invest in Precious Metals with Brave and Uphold
- WaxTycoon – The Latest Cool Game on WAX Blockchain
Chesatochi.com–For the love of crypto and coffee.
PS: I am not a financial adviser, and this is only my opinion. Always do your own research before embracing investment in the crypto space.
