As an experienced analyst, I am excited about the recent developments at COTI Foundation. The launch of their V2 Devnet and the accompanying grant program are significant milestones in the blockchain industry, particularly for those focused on privacy-centric use cases.
The COTI Foundation has announced the launch of its developer network, signaling the integration of sophisticated garbled protocols into the creation of intelligent contract blockchains.
In the formal communique, it’s stated that COTI‘s V2 Devnet will pave the way for numerous applications prioritizing data privacy in the Web3 sector. As an Ethereum Layer 2 solution, this chain is engineered to support decentralized features like data exchange, validation, and multiparty computation, all while preserving the confidentiality of its user base.
Significantly, the Devnet debut aligns with COTI‘s newly initiated grant program aimed at fostering privacy-focused DApp development utilizing its garbling protocol technology. A pool of 400 million $COTI tokens has been allocated for this endeavor to motivate developers and pioneers in exploring COTI’s V2 Devnet.
In his comment about the milestone, COTI‘s CEO, Shahaf Bar-Geffen, expressed that the simultaneous rollout of the official Devnet and the grant program will provide opportunities for Web3 innovators from around the world.
“Through our Builders initiative, we’re extending a warm invitation to teams worldwide to join the COTI V2 developer community and showcase their projects. An exciting year lies ahead filled with innovation, forming new collaborations, and expanding COTI’s reach.”
As a researcher delving into the intricacies of COTI‘s V2 confidentiality layer, I find the application of garbled circuits particularly noteworthy. This cryptographic technique allows for the encryption of multilateral computations in such a way that only the output is disclosed, while keeping the privacy of the inputs intact.
Beyond what’s already mentioned, COTI V2 Devnet offers essential development tools. These tools include a NodeJS Software Development Kit (SDK), a Python SDK, server access, extensive documentation, a faucet to reimburse gas expenses for on-chain transactions, and an explorer for conducting in-depth analysis of on-chain activities.
As a COTI analyst, I can explain that with these new functionalities, I’ll be able to swiftly test out COTI’s V2 EVM-compatible smart contracts using Solidity language for efficient experimentation.
From a researcher’s perspective, I’ve discovered that COTI Foundation aims to expand its grant program beyond the developer community by focusing on three distinct groups: Ambassadors, Builders, and Creators. This is the rationale behind the ABC Growth Fund. At present, the Builders program is active, inviting applicants with a robust proof-of-concept (PoC) to apply for grants worth up to $100,000.
Notably, the confidentiality layer of COTI‘s V2 garbling protocol has secured a collaboration with Civic, a leading Web3 identity management tool provider. Through this partnership, Civic intends to boost user data security by integrating COTI’s solution into its platform.
“Bar-Geffen expressed his enthusiasm for the upcoming year filled with innovation, forming new collaborations, and expanding COTI‘s community. I share his excitement and I’m confident you do as well.”
Among the various privacy-centric Web3 initiatives that can leverage COTI V2 are those developing in the areas of Confidential DeFi, confidential transactions for payments, stablecoins and request-for-payment (RWA), on-chain sensitive data management, and confidential machine learning and artificial intelligence.
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2024-05-21 15:13