COTI, an enterprise-grade platform leveraging the blockchain to operate a series of products, including payment processing, is decentralizing.
In a press release on October 6, COTI said it has added a new mainnet full node and plans to add more in the months ahead as the platform matures and activity picks up. A notable observation is that full node selection is community-driven.
Presently, there is a pool of node operators in the testnet that the community can choose to deploy on the mainnet. However, the process remains competitive, and demand for full node operation is high. Among other determining factors, the community considers the waiting period of the full node operator, the nature of their activities, and their contribution to the COTI community.
COTI has opted to include a full node operated by Petr, an active member. He has been running the mainnet node on the testnet since November 2021. Additionally, the incorporated node operator has been active on COTI-matters, and actively commenting on social media channels, including Twitter and Discord.
According to Petr, the decision by COTI to incorporate his node into the mainnet represents a considerable milestone. Most importantly, he divulges more nodes will be added in the months ahead as COTI plans to release the algorithmic stablecoin, Djed, on the Cardano network.
“Becoming a Mainnet node operator is great news for me. I installed my Testnet node on November 7, 2021, with the help of GeordieR. I would like to thank him and other members of the COTI COMMUNITY who helped me become a Mainnet node operator! “
COTI uses the Trustchain consensus algorithm for transaction processing. The algorithm automatically issues a trust score for a full node operator for every transaction posted. This score determines the amount of work needed for the transaction to the processed. The higher the full node’s trust score, the faster the confirmation time.
COTI’s mainnet full nodes are tasked with confirming transactions and propagating them across the DAG network. Additionally, these full nodes also set their processing fees and collect them from users at the protocol level.