COTI Joins the Enterprise Ethereum Alliance to Advance Adoption of Privacy Solutions
COTI, the EVM Layer 2 specializing in decentralized payment solutions and web3 privacy, has joined the Enterprise Ethereum Alliance (EEA). The move aligns COTI with a distinguished group of industry leaders dedicated to fostering innovation and collaboration within the Ethereum ecosystem.
By becoming a member of the EEA, COTI is primely positioned to advance its vision of addressing key challenges in decentralized technology, particularly when it comes to privacy. In the process, it will learn from the leading lights the organization already has on its roster including Microsoft, EY, JPMorgan Chase, ConsenSys, and Chainlink.
Ethereum Builders Get Down to Business
The Enterprise Ethereum Alliance, established in 2017, has played a foundational role in standardizing and expanding Ethereum’s enterprise applications. It serves as a neutral nonprofit organization advocating for Ethereum’s use in real-world applications, enabling collaboration between corporate innovators and blockchain developers.
COTI’s newly acquired membership in the EEA reflects its commitment to contributing its expertise in web3 privacy to Ethereum’s growing ecosystem which now extends to scores of L2s and thousands of dapps. COTI brings a novel approach to privacy, leveraging an EVM Layer 2 solution that integrates Garbled Circuits – a cryptographic technology enabling secure, private computations. This provides privacy-on-demand, allowing users to selectively conceal transaction details, which is increasingly critical as web3 expands to encompass more sensitive and regulated data.
A Symbiotic Relationship
COTI appears intent on bringing its own expertise to the table while also learning from the experts who are already EEA members. According to COTI CEO Shahaf Bar-Geffen, membership “offers a unique opportunity to exchange ideas and collaborate with some of the brightest minds in the Ethereum ecosystem. We’re eager to learn from others and contribute our expertise in return, with the shared purpose to bridge the gap between innovation and real-world adoption.”
Needless to say, COTI’s primary focus will be on advancing conversations and integrations concerning privacy technology, which is sorely lacking from most public blockchains at present. While transparency underpins trust in decentralized systems, it can expose participants to risks like front-running and Miner Extractable Value (MEV) exploits, particularly in sectors like DeFi. By enabling secure yet auditable privacy, COTI’s solution offers an essential tool for enterprises and individuals looking to balance openness with confidentiality.
How the EEA Supports Web3 Development
Since its inception, the EEA has focused on providing a collaborative environment where enterprises and developers can address the challenges of scaling Ethereum for real-world use. Working groups within the EEA tackle issues such as interoperability, scalability, and governance, driving standards that benefit the wider blockchain ecosystem. Through its membership, COTI will participate in these working groups, sharing insights from its privacy-focused research and solutions.
As the need for robust privacy solutions grows alongside web3 adoption, COTI’s participation in the EEA provides a platform for meaningful contributions to Ethereum’s development. By engaging with thought leaders and enterprises, COTI aims to help define privacy standards that will pave the way for decentralized systems to achieve their full potential in both public and enterprise contexts.
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