Whether smart contracts, decentralized finance (DeFi), non-fungible tokens (NFTs), or decentralized applications (dApps), enterprises’ interest in cryptocurrencies has not abated despite the latest crypto bear market.
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Enterprise adoption of cryptocurrency has gradually risen as the technology supports more features and capabilities needed to satisfy wider use cases. Yet, the key hurdles preventing more widespread enterprise adoption boil down to different demands relative to retail crypto users. While retail users can readily enter the crypto market through exchanges and other onramps, the technological limitations, regulatory environment, and onboarding demands pose challenges for enterprise use.
To address the many unique requirements enterprises must satisfy to adopt crypto, COTI has introduced its MultiDAG 2.0 protocol. This upgraded protocol transforms COTI from a single currency network to a multicurrency network by powering the creation of new tokens atop the network, similar to Ethereum (ETH-USD) and the ERC-20 token standard.
The CMD standard, short for COTI MultiDAG, supports the issuance of CMD branded tokens, offering enterprises an on-ramp to create their own cryptocurrencies and tokenized loyalty programs. Through the newly-unveiled tools, enterprises can construct Private Payment Networks (PPNs) that can handle multiple activities, like payment settlement and issuing loyalty tokens.
In addition to branded token issuance and transaction settlement, the CMD standard aims to sidestep limitations posed by blockchain networks that inhibit enterprise adoption. Unlike blockchains, which face tradeoffs between scalability, security, or throughput, called the blockchain trilemma, the architecture of MultiDAG 2.0 is designed to match the requirements of enterprise users, like throughput of up to 100,000 transactions per second.
COTI’s wallet-based compliance accompanies the MultiDAG 2.0 upgrade, helping enterprises satisfy legal demands as cryptocurrency legislation develops. Wallet-based know-your-customer (KYC) and anti-money laundering processes ensure enterprises avoid running afoul of regulations when onboarding users. The wallet has also undergone the Bridge 2.0 upgrade, enabling refunds if certain failures occur.
As more enterprises seek to harness the advantages of cryptocurrencies and decentralized protocols, infrastructure will play a key role in accelerating adoption. Solutions offering a combination of embedded regulatory compliance, security, high throughput, and the scalability demanded by corporate applications will be essential for improving enterprise crypto accessibility.
