The Trustchain aims to address the classic problems of blockchain – scalability and transaction costs – while introducing unique features for payments and stable coins, like stability framework and charged back transactions.
The Trustchain creates a working proof of trust (PoT) blockchain consensus system and is built on DAG data structure. The Trustchain also introduces for the first time a chargeback mechanism for cryptocurrencies, multi-DAG structures, smart contracts over DAG and stability framework to create stable coins.
COTI has developed a unique algorithm, designed specifically to prevent network spamming, and to help to balance incentives for network participants. The Trustchain is designed to consider the Trust Scores of various users in order to evaluate the level of proof of work (PoW) necessary to confirm a transaction. Depending on the user’s Trust Score, the transaction can confirm in a much faster time.This rapid confirmation based on trust is the foundation of the Proof of Trust (PoT) consensus.
This DSP solution functions by adding a small number of trusted nodes within the network to provide consensus on whether or not a specific transaction is valid or is a double spend. For any transaction to be validated, it requires the confirmation of a DSP node before it can be considered fully confirmed, while any attempts at double spend are identified, flagged, and refused.
Finally, the Trustchain includes a service for network users, should any fraud of transaction question arise. This arbitration platform is designed to build a rolling financial reserve for merchants to be able to cover potential future claims and a whole network Reserve Credit Fund (RCF), built to guarantee this. Both reserve amounts are kept in COTI’s internal currency.
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