Digital fintech platform COTI (Currency of the Internet) has announced that it will be launching its long-anticipated mainnet 2.0 next month.
The company shared the news about its upcoming mainnet version 2.0 launch with CryptoPotato, stating that the upgrade will feature scalability and speed capabilities, as well as an optimum 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 announcement, the new version of the network has been in the works for over a year, with lots of resources, including thousands of man-hours dedicated to ensuring the upgrade is successful.
Notably, COTI’s dedication targeted towards the development of its mainnet 2.0 has paid off, as the upgrade will go live on November 2, 2021, at 2 PM UTC, the company noted.
Upon launch, users will be able to enjoy the new service, which is poised to offer an enhanced and reliable digital platform, without having the need for any prior tech knowledge.
Although COTI’s Trustchain infrastructure, which is integrated into the current mainnet, is capable of processing over 100,000 transactions per second (TPS), the project has made significant changes to its database to achieve faster transaction processing in version 2.0.
Some of the updates made to the database to improve transaction confirmation speed were carried out on the network’s storage engine RocksDB and the Queue management system, among others.
The upcoming upgrade will also provide fixes to some of the bugs found in the current version.
In preparation for the release, COTI noted that it successfully conducted a pilot program by moving its node operators to the new version’s testnet in order to ensure a smooth transition when it will officially migrate to mainnet 2.0.
The development comes less than a month after COTI partnered with Simplex to provide bank accounts and visa debit cards to its customers.
Per the announcement, the service will easily grant users access to the global monetary ecosystem and also bridge the gap between fiat and cryptocurrencies.