COTI adds a New Community Staking node; Platform updates reveals why it is a DeFi with Huge PotentialJuly 28, 2020
The Currency of The Internet- COTI blockchain, July 27th, announced the addition of a new community staking node which will commence operation on August 1st, 2020. This is the Lars Node which will make the sixth community node launched on the blockchain making the staking volume 50million COTI. The operator of the new community node, Lars, is a known personality to COTI from the test net days giving feedback to the team on almost all phases.
On the new development, Lars said:
“I’m really looking forward to supporting the network by running a node and to help increase the scalability and security of the COTI DAG.”
The COTI staking program has, in its design, included the ability for every interested community member to join in the security of the blockchain through delegated staking. Community members can stake as low as 15000 COTI to enjoy rewards on a frequent basis. The staking model will surely reduce the number of tokens in circulation thus making increasing the worth of the coin.
Recent Platform Updates from COTI
Aside from this, the team behind the project has been working behind the scenes and pushing updates every now and then. COTI badged listing with WazirX, the largest Indian crypto exchange on the 20th of July, Simplex added support for the coin to be bought with fiat a day later. July 23rd, COTI announced the addition of a third exchange based staking- Pool-X with Kucoin. The exchange-based staking allows members of the community to stake as low as 1000 COTI coins for a limited hard cap for a stated period of time to enjoy rewards.
To cap it all, COTI was added on Coinmarketcap as a DeFi project on the 21st of July- a stride in the right direction for COTI developers and community members. The coin was designed specifically to be a decentralized finance technology which is scalable and secure using MultiDAG technology. It is currently standing at rank 25 as a low cap Defi with huge potential.
Blockchain Technology, DeFis, and the Altseason
Ayobami Abiola, a crypto enthusiast and writer at The Currency Analytics, stated in a tweet:
“$COTI price surge a few days ago is a testimony to the truth @cz_binance raised about #altseason: It will only favour the hard work of teams and reveal which teams have nothing to show as progress.
#COTI #DAG #cryptocurrency @COTInetwork”
Blockchain technology has always been a saviour in financial technology, it has revealed different innovative ways to solve the same problem. The Currency of The Internet, COTI is one unique solution with many use cases which have not yet been discovered. The development team has been working tirelessly to ensure to build a strong platform for Decentralized Finance.