Dafabet Contracts COTI, Launches a Borderless Crypto Wallet For Sport Bettors
Dafabet, a Philippines-based online gambling platform, has contracted COTI as their technology provider for digital currency processing, an update on Nov 25 reads.
COTI is an enterprise-grade DAG Fintech and blockchain interoperable platform.
COTI Built a Wallet System for Dafabet
Towards that end, COTI has built a wallet and payment system specifically for Dafabet.
The gaming platform has an annual revenue of over $1 billion, registering over 1.5 unique visitors every month.
Based on the platform’s TrustChain and Payment Gateway technology stack, the sports betting audience will have an enhanced cryptocurrency experience and can easily use digital assets with less friction through the Ultra eWallet.
Commenting, Shahaf Bar-Geffen, the CEO of the COTI said:
“Being recognized by a titan like Dafabet and having COTI’s technology installed in such a popular platform is a huge achievement. Dafabet is processing massive volumes and we look forward to taking part in it. COTI’s technology will serve Dafabet’s audience well and this agreement will greatly benefit COTI’s holders and stakers too.”
A Custom Solution for Dafabet’s Benefit
Specifically, punters will receive instant payment from their bets while the sports betting platform will have a wider reach by using the revamped wallet system.
Based on the enterprise-grade, interoperable blockchain, the Ultra eWallet embodies the true principles of distributed ledger technology, cutting across all borders.
The customized wallet and payment rail devised by COTI suits Dafabet’s needs. It is derived from technology similar to Blockchain Dollars—a white-labeled payment infrastructure for COTI–but with a twist.
Functional the wallet has a fiat on-ramp, a CRM, stablecoins support, a CRM, and a back-office management software. For instantaneous and transparent settlement, it uses TrustChain.
A DAG System for Instantaneous and Transparent Settlement
TrustChain is a proprietary consensus algorithm based on a multi-DAG (Directed Acyclic Graph) data structure that’s core to the COTI’s infrastructure.
It is based on machine learning and can process over 100k TPS. For this high throughput, TrustChain automatically assigns trust scores and cluster transactions before confirmation. Consequently, transactions posted can be settled cheaply and faster.
With a borderless wallet created by established developers behind a high throughput and market cap blockchain, Dafabet expects better revenue and clients.