2 weeks Ago By Alisa Davidson
To improve your local-language experience, sometimes we employ an auto-translation plugin. Please note auto-translation may not be accurate, so read article for precise information. In Brief COTI announced the launch of its testnet, supported by a dozen ecosystem partners, including MyEtherWallet and AnChain.
Confidential Layer 2 solution announced the launch of its testnet, supported by a dozen ecosystem partners. Among these partners are cryptocurrency wallet (MEW) and cybersecurity firm , both of which are backing COTI’s scalable Ethereum Virtual Machine (EVM) network that is designed to offer cost-effective privacy solutions for Web3 applications. Additionally, COTI has secured partnerships across various blockchain sectors, including projects in decentralized finance (DeFi), artificial intelligence (AI), security and compliance, non-fungible tokens (NFTs), and real-world assets (RWA).
“The response to our testnet launch has been astounding, with projects and developers from various sectors across Web3 joining our community to build a private blockchain future,” said COTI Chief Executive Officer Shahaf Bar-Geffen in a written statement. The launch of COTI’s testnet allows developers to explore the network’s features and new technology based on Garbled Circuits (GC). Developed in partnership with Soda Labs, COTI’s implementation of GC enables secure computation of functions over private inputs without disclosing those inputs.
Alongside the testnet launch, COTI has released benchmarking results indicating that its solution is faster and more efficient than existing privacy technologies. The testnet launch provides developers with a , including a testnet explorer and faucet to support experimentation with COTI’s technology. Additionally, the testnet software development kit (SDK) facilitates the seamless integration of COTI features into applications.
Meanwhile, the capacity to handle confidential transactions on a large scale and provide cost-effective, secure multi-party computation (MPC) will open up new opportunities for blockchain applications that were previously limited by cost constraints. By introducing advanced encryption technologies, aims to drive innovation in areas such as confidential DeFi, quantum-resistant privacy, and confidential data sovereignty. Utilizing the advanced cryptographic protocol GC and backed by Ethereum, COTI offers a highly sophisticated and compliant solution for data protection on public blockchains.
It is designed to support a range of use cases, including confidential transactions, AI, DeFi, and decentralized identification, among others. In line with the , please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts.
For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3.
With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance. Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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