COTI Newsletter — July 22nd
Spring season NFT distribution is here
Non-fungible tokens are heating up this summer, as the NFT market continues to surge to new highs. According to DappRadar, NFT sales on OpenSea — the major NFT marketplace — exceeded over $200 million in the past 30 days alone.
Given the rising demand for NFTs, COTI is excited to share that on July 12 we began distributing the 820 of these one-of-a-kind tokens to the winners of all four of our seasonal raffles — just in time for summer trading! The newly designed and unique NFTs have been sent to the ETH addresses provided during the claiming process. Winners can immediately start trading their NFTs on OpenSea or on the COTI Telegram Group (where users can also further discuss their NFTs). You can read more about this news here.
Want to get your hands on some NFTs but didn’t win this time around? You can still join the COTI NFT game for the chance to win up to 2,000,000 $COTI. Be sure to check out our Game Guide for more information.
COTI’s Proof of Trust is a green alternative to Proof of Work
A few months ago Tesla CEO Elon Musk tweeted that Tesla would no longer accept Bitcoin payments due to energy concerns related to mining. Since then the cryptoverse has been focused on green mining initiatives, which is why we are proud to highlight COTI’s green Proof of Trust algorithm. Unlike Proof of Work, or PoW, COTI’s proof of trust consensus assigns each network user a “Trustscore,” which is used by the COTI Trustchain Algorithm to validate and confirm transactions.
COTI’s DAG-based decentralized ledger works to solve scalability issues. Ultimately, this process encourages good network behavior, while resulting in lower fees and better service for our users.
You can read more about our green Proof of Trust algorithm here.
DeFi summer: June staking rewards distribution updates
Earning passive income is by far one of the best benefits of decentralized finance, which is why we are happy to share that rewards for the June staking cycle have been successfully distributed as of July 1, 2021. In June, COTI experienced an impressive $24.5 million in transaction volume. You can read more about June’s status report here.
Also, as noted in the COTI Telegram channel, the bridge is operating smoothly and we have increased the individual daily cap to 3,000 $COTI. The bridge will be available a few times per week. You can verify when the bridge is open here.
COTI continues to build: Updates from COTI’s CEO
Although the crypto markets have suffered a bit of malaise recently, with bitcoin prices hitting some recent lows, the COTI team remains hard at work to continuously build and develop our networks. Don’t let the Bitcoin blues get you down — be sure to watch COTI CEO Shahaf Bar-Geffen discuss the latest updates on COTI’s progress and the plan ahead here.
Meet the team behind COTI
Please meet Yuval Altun, a Full-stack developer at COTI.
Yuval is a Blockchain expert, a full-stack developer with more than five years of experience in R&D. As an entrepreneur, he founded Electronic sports gaming solutions “Leadion” and served as its CTO. With his extensive knowledge and experience working in high tech, Yuval is a great team player, leveraging his creative and agile way of thinking to support COTI.
Visit our GitHub page to stay informed on all of COTI’s tech updates.
For all of our updates and to join the conversation, be sure to check out our channels:
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf