COTI completes MultiDAG 2.0 hard fork to fuel crypto payments with multi-token network

Rick Steves

“The transition from a single currency infrastructure to a multi-token network is an exciting step for us, and we’re glad to have your support on this important path”, said COTI in a statement.

COTI has announced the successful completion of the MultiDAG 2.0 hard fork event, with the Mainnet gone live and Explorer 2.0 being deployed to Mainnet, alongside the Bridge 2.0 wallet app.

The hard fork took place after all node operators upgraded their nodes to version 3.1.2, in addition, Huobi and Kucoin have also upgraded their nodes and apps.

MultiDAG 2.0 to fuel adoption of crypto payments for enterprises

“Though the past year hasn’t been an easy one for the crypto world, here at COTI we have been focused on developing and building our suite of products to attain high quality standards. This launch signifies a massive step for the crypto industry, as well as COTI, as the MultiDAG 2.0 will increase the growth of the widespread adoption of crypto payments for enterprises that are yet to adopt crypto payment solutions. The transition from a single currency infrastructure to a multi-token network is an exciting step for us, and we’re glad to have your support on this important path”, said COTI in a statement.

The MultiDAG 2.0 protocol substantiates the full transition of COTI from a single currency infrastructure to a multi-token network as it looks to serve enterprises, enabling them to launch their own Private Payment Network (PPN) which includes the issuance of CMD branded payment tokens and issuance of CMD branded loyalty tokens.

The protocol utilizes the CMD (COTI MultiDAG) standard to enable the issuance of tokens on top of the COTI Trustchain, similar to the ERC20 token on Ethereum, but on a single DAG.

Bridge 2.0 wallet enables refunds

The release of the Bridge 2.0 wallet app includes the new refund feature, which will allow users to apply for a refund in the event that the swap fails to execute due to technical reasons, or if its processing is pending.

The new COTI Explorer offers a variety of stats related to the Trustchain. Additional enhancements such as the ability to search for any token that was generated on the Trustchain and view detailed information related to that token, as well as access to the COTI full node list, are now also available for our users.

Djed stablecoin to go live in January 2023

COTI has recently announced the upcoming launch of Djed, an over-collateralized algorithmic stablecoin built on Cardano and powered by COTI. Djed will be live on mainnet this January, 2023 following a successful full audit.

Djed will then be integrated with selected top partners and DEXs out of the 40 partnerships signed, to enable its proper utilization. These DEXs will offer increased rewards to those who will provide liquidity using Djed.

$DJED is pegged to USD, backed by the base coin $ADA, and uses $SHEN as its reserve coin. The algorithm is based on a collateral ratio within the range of 400%-800% for $DJED and $SHEN in order to ensure there’s enough $ADA in the pool.

The crypto winter has reminded everyone within the digital asset ecosystem that security and stability must be the top priority at all times. Djed is being released very prudently to make sure a thorough audit takes place as well as other rigorous stress tests prior to launching on Mainnet.

In addition, COTI will adopt a gradual and slow approach to providing $ADA liquidity to the Djed smart contract, to ensure consistent and careful growth.

Read this next

Fintech

Bitcoin payments app Strike launches in Europe

Bitcoin blockchain-based payments app Strike launched in Europe on Wednesday, allowing users in the region to buy, sell, and withdraw bitcoin (BTC).

Chainwire

Bandit Network’s Points SDK and Brave Ads Power Astar zkEVM’s Quest Platform “Yoki Origins”

“Yoki Origins,” supported by Bandit Network and Brave Ads, introduces a gamified and rewarding experience for Astar zkEVM users, marking a significant milestone in Web3 adoption.

Digital Assets

Crypto ETFs to debut in Hong Kong next week

Hong Kong has authorized six cryptocurrency-based spot ETFs set to launch on April 30, according to Bloomberg.

blockdag

BlockDAG Among The Best New Crypto To Invest In Post 8 Billion Coins Sales; More On Bitcoin Cash Futures’ Launch & Solana Positive Predictions

Explore Solana’s ATH predictions to see whether it can rise after a $17B dip? BlockDAG sells 8 billion coins in presale as Bitcoin Cash Futures launch.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary:USD, FED, German IFO ,Gold April 24 ,2024

Mixed US economic data and Fed rate hike uncertainty are causing volatility in the EUR/USD pair, while the Eurozone and gold prices add another layer of complexity.

Market News, Tech and Fundamental, Technical Analysis

EURCHF Technical Analysis Report 24 April, 2024

EURCHF currency pair can be expected to rise further toward the next major resistance level 0.9840, which stopped the pervious waves C and B, as can be seen below.

Digital Assets

Binance’s CZ could stay in prison until 2027, wife begs for mercy

Changpeng “CZ” Zhao, the founder and former CEO of Binance, has apologized for his decisions and accepted “full responsibility” in a letter to U.S. District Judge Richard A. Jones.

Digital Assets

Monex Group expands crypto business with 3iQ takeover

Monex Group has completed the acquisition of a majority stake in 3iQ Digital Holdings, Inc., a Canadian digital asset investment fund manager, as part of its strategy to expand its crypto business.

Education, Fintech, Inside View

How to Get Into Fintech: Best Tips to Succeed

The Fintech sector is experiencing significant growth, with fresh opportunities emerging rapidly.  Innovations such as machine learning and cryptocurrency are revolutionising finance, leading to a need for trained experts.

<