COTI, a digital fintech platform, has confirmed a ready plan to launch its highly anticipated “mainnet 2.0” next week after more than one year of development.
In an October 29 press release, the digital fintech platform confirmed ready plans to launch mainnet 2.0, hinting that the long-anticipated network upgrade will feature scalability and speed capabilities similar to the 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.”
According to the official announcement, COTI has developed the highly anticipated mainnet 2.0 for more than a year, with lots of resources, including thousands of hours spent to ensure the efficacy of the new version.
Eventually, those dedicated efforts are now fruitful, with the development set to go live on November 2, 2021, at 2 PM UTC.
Upon successful launch, users will enjoy using a more enhanced and reliable digital platform without the need for any prior tech knowledge.
The New Version To Boost Transaction Speed
Although the current integrated Trustchain infrastructure on the COTI mainnet processes more than 100,000 transactions per second, the project has made significant changes to achieve faster transactions in the new version.
Among the significant changes made to the database to improve functionality was the network storage engine RocksDB and Queue management system. Moreover, the new version will also provide fixes to some bugs found in the current system.
In its preparation to go live, COTI has successfully conducted an initial pilot program that involved moving node to a new version to ensure a smooth transition when it will officially migrate to mainnet 2.0.
COTI Set To Offer Payments Services
The latest positive development has appeared barely less than a month after COTI successfully partnered with Simplex to provide bank accounts and Visa debit cards to its customers.
With the new upgrade, the platform will easily allow users to access the global monetary ecosystem. Furthermore, the service will bridge the gap between fiat and cryptocurrencies.
