COTI (Currency of the Internet), a digital financial platform, has announced that it would launch its long-awaited mainnet 2.0 next month.
The firm disclosed its planned mainnet version 2.0 launch, stating that the upgrade will provide increased scalability and performance, as well as an optimized COTI platform.
“The release of Mainnet 2.0 will allow COTI’s network to grow further, supporting a wide range of financial technologies and use cases for enterprise and merchants, as well as for COTI users,” the project said.
According to the release, the new network version has been in development for over a year, and thousands of man-hours have been spent to assuring the upgrade’s success.
COTI’s commitment to the development of its mainnet 2.0 has paid off, as the update will go live on November 2, 2021, at 2 p.m. UTC, according to the corporation.
Users will be able to utilize the new service right away, and it is expected to provide an expanded and stable digital platform without the need for any prior technical knowledge.
Boosting Transaction Speed
Despite the fact that COTI’s Trustchain infrastructure, which is incorporated into the existing mainnet, can process over 100,000 transactions per second (TPS), the project has made substantial changes to its database in version 2.0 to achieve quicker transaction processing.
Updates to the database were made to the network’s storage engine RocksDB and the Queue management system, among other things, to increase transaction confirmation speed.
Some of the flaws found in the current version will be fixed in the next upgrade.
COTI said it successfully completed a pilot program by shifting its node operators to the new version’s testnet in preparation for the release, ensuring a smooth transition when it formally migrates to mainnet 2.0.
COTI Provides Payment Services for Clients
The news comes less than a month after COTI teamed with Simplex to offer its clients bank accounts and visa debit cards. According to the statement, the service would give customers easy access to the global monetary ecosystem while also bridging the fiat-to-cryptocurrency divide.