Hassan Maishera
The blockchain development firm COTI announced on Tuesday, May 21st, that its COTI V2 developer network is now live. This network ushers in garbled protocols to the blockchain for the first time.
In a press release shared with Cryptowisser, COTI said this latest development brings a layer of confidentiality that unlocks countless use cases that were previously impossible to develop using a Web3 ecosystem.
COTI V2 enables data sharing, verification, and multi-party computation without compromising the confidentiality of the underlying personal information.
The launch of the COTI V2 Developer Network coincides with new grant by the team that allows developers to experiment and build with this technology and be rewarded for their contribution
The COTI Foundation has earmarked 400M $COTI tokens from the existing supply in a grant program. The funds would be used to supercharge rapid growth, inspire groups to innovate with new use cases, and explore the full range of opportunities a privacy-centric Web3 ecosystem can provide.
While commenting on this latest development, Shahaf Bar-Geffen, COTI CEO, said,
“We’re opening our doors to the world with the COTI V2 Developer Network. and with our Builders program we’re inviting teams around the world to take part in COTI V2’s developer network, and share what you’re building. We have an incredible year ahead of building new things, making new partners, and growing COTI’s network.”
COTI V2 Developer Network’s Privacy Features
With COTI’s garbling protocols, it is now possible for projects to envision the full power of Web3, including the many different use cases, dApps, and protocols that depend on an impenetrable confidentiality layer.
Thanks to this latest development, the COTI V2 Developer Network makes it easier for teams to build using Garbled Circuits, one of the best techniques within multi-party computation (MPC) for preserving private information.
The Developer Network enables development teams to access various key tools, including a NodeJS SDK, a Python SDK, server access, extensive documentation, a faucet to cover gas for on-chain activity, and an explorer for on-chain analytics. It is also designed for rapid experimentation with new smart contracts utilizing COTI V2.
400M $COTI Grant Program to Boost Innovation
The COTI Foundation has launched the ABC Growth Fund and allocated 400M COTI tokens for (A)mbassadors, (B)uilders, and (C)reators to help bring real-world privacy solutions to the ecosystem.
The grant program is already seeking applications from innovative researchers, developers, educators, and/or builders who want to test the limits of what the COTI ecosystem can accomplish.
The funding will accelerate rapid innovation, allowing teams to quickly explore the many different use cases possible with the COTI V2 confidentiality layer.
Developers can submit their applications to create proofs of concept (POCs) for privacy-preserving smart contracts, tools, privacy-focused dApps, and more, with those selected receiving grants ranging from $1000 to $100K.
COTI revealed that Civic, a leading provider of identity management tools for Web3, has already started building on the COTI V2 Developer Network. The project will use COTI V2’s confidentiality layer for Dynamic Decentralized Identity (DyDID).
The COTI Foundation is looking for partners to explore many different use cases, with key areas including:
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Confidential DeFI
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Confidential Transactions for Payments, Stablecoins and RWA
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On-Chain Sensitive Data Management
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Confidential Machine Learning & AI
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Dynamic Decentralized Identification (DID)
While commenting on this latest development, Bar-Geffen said of the grant program, said,
“We have an incredible year ahead of building new things, making new partners, and growing COTI’s network. I’m very excited to be part of this endeavor and I hope you are too.”
COTI is a fast and light confidentiality layer on Ethereum. Powered by the breakthrough cryptographic protocol Garbled Circuits and secured by Ethereum, COTI introduces an advanced and compliant solution for data protection on a public blockchain.
