As a seasoned crypto investor with over a decade of experience in this wild and ever-evolving digital frontier, I find myself intrigued by the recent developments surrounding COTI. This privacy-centric blockchain project has captured my attention due to its innovative approach to data security and decentralized applications (dApps).
The privacy-focused cryptocurrency protocol, known as COTI, has now made its developer network available on the testnet. This move has garnered interest from numerous projects within the tech industry, such as AI and DeFi sectors.
As reported by Coinspeaker in a recent press release, several key collaborators including MyEtherWallet (MEW), L2BEAT, Soda Labs, and Poolz Finance have expressed their commitment to the testnet phase. These partners are also anticipated to assist in the mainnet launch slated for 2025.
Privacy-Centric Network Powered by Garbled Circuits
COTI’s private-focused network operates on the Ethereum blockchain and capitalizes on its smart contract capabilities to create its own autonomous Layer-2 (L2). This network, fueled by the innovative Garbled Circuits cryptographic protocol, is designed to offer developers a secure platform for developing decentralized applications (dApps), all while protecting confidential information.
In May 2024, COTI’s platform first appeared on Devnet. This launch came with a development fund focused on privacy, which aimed at motivating programmers. The goal of this initiative is to offer financial aid, resources, and toolkits for developers to help them build decentralized applications (dApps) within the platform.
COTI Unlocks Third Roadmap Phase
Approximately 4 months following the Devnet debut, COTI’s L2 network is now progressing into the third phase outlined in its roadmap, introducing the testnet. As shared by Shahaf Bar-Geffen, CEO of COTI, the feedback from developers has been remarkably enthusiastic.
According to Bar-Geffen, the reaction to our testnet release has been truly remarkable, as projects and developers from diverse areas within the web3 realm have flocked to join our community, aiming to construct a private blockchain future together.
During the testnet stage, developers can delve into the unique privacy aspects and foundational technology of this platform, which is built upon Garbled Circuits. As explained by COTI, this technology was collaboratively developed with Soda Labs to enable multiple parties to perform computations on private data without disclosing the original inputs.
A Testnet SDK Supporting Developers
To stimulate development on their platform, COTI has introduced several resources such as a testnet explorer and a faucet for effortless exploration and experimentation within their efficient L2 scaling technology.
Furthermore, the network introduced a Software Development Kit (SDK) for the testnet, enabling developers to effortlessly integrate COTI’s cutting-edge functionalities within their projects.
Additionally, alongside the launch of its testnet, COTI has also published “benchmark findings” to support its assertions that it is quicker and less resource-intensive than current privacy-focused alternatives.
In relation to the release of their testnet, COTI shared benchmark data showing they outperform existing privacy-focused platforms in terms of speed and efficiency, as asserted by the company itself.
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2024-09-18 15:06