After more than a year of development, COTI has announced that it is finally ready to launch its mainnet 2.0.
COTI (Currency of the Internet), a digital fintech platform, has announced the launch of its long-awaited mainnet 2.0 next month.
COTI Mainnet 2.0 is now operational.
The company informed CryptoPotato about its upcoming mainnet version 2.0 launch, stating that the upgrade will include scalability and speed capabilities, as well as an optimized COTI platform.
“The release of Mainnet 2.0 will allow COTI’s network to grow even further, supporting a wide range of financial technologies and use cases for enterprise and merchants, as well as COTI users,” according to the project.
According to the announcement, the new network version has been in the works for over a year, with a large amount of resources, including thousands of man-hours, devoted to ensuring the upgrade’s success.
Notably, COTI’s dedication to the development of its mainnet 2.0 has paid off, as the company announced that the upgrade will go live on November 2, 2021, at 2 PM UTC.
Users will be able to enjoy the new service upon its launch, which is poised to provide an enhanced and reliable digital platform without the need for any prior tech knowledge.
Increasing Transaction Speed
Although COTI’s Trustchain infrastructure, which is integrated into the current mainnet, can process over 100,000 transactions per second (TPS), the project has made significant changes to its database in version 2.0 to achieve faster transaction processing.
Some of the database updates made to improve transaction confirmation speed were performed on the network’s storage engine RocksDB and the Queue management system, among others.
The upcoming upgrade will also address some of the bugs discovered in the current version.
COTI noted that in preparation for the release, it successfully completed a pilot program by moving its node operators to the new version’s testnet to ensure a smooth transition when it officially migrates to mainnet 2.0.
COTI Offers Payment Services to Customers
The news comes less than a month after COTI partnered with Simplex to offer its customers bank accounts and visa debit cards.
According to the announcement, the service will provide users with easy access to the global monetary ecosystem while also bridging the gap between fiat and cryptocurrencies.