By taking advantage of Garbled Circuits technology, COTI’s testnet enables private computation of data without exposing inputs. Additionally, with developer tools like a testnet explorer and faucet, COTI wants to encourage innovation in confidential DeFi, data sovereignty, and quantum-resistant privacy.
COTI Launches Layer 2 Testnet
COTI has officially launched its layer 2 (L2) testnet with the support of multiple key partners from various sectors in the blockchain ecosystem, including MyEtherWallet (MEW) and AnChain. This is a big milestone for COTI’s scalable Ethereum Virtual Machine (EVM) network, which aims to offer affordable privacy solutions to Web3.
The fact that partners from a variety of industries are involved, including partners from DeFi, AI, security, compliance, NFTs, and real-world assets just proves that privacy is really becoming a core feature in blockchain technology.
Innovative Privacy Solutions with Garbled Circuits Technology
One unique aspect of COTI’s testnet is its use of Garbled Circuits technology, which was developed in collaboration with Soda Labs. This cryptographic protocol allows parties to jointly compute functions over private inputs without exposing those inputs, which offers an advanced layer of privacy for blockchain applications.
Privacy enabled through garbling protocols (Source: coti.io)
COTI has also published benchmarking results demonstrating that its privacy solution is much faster and more lightweight compared to existing alternatives. This certainly positions it as a next-generation platform for confidential transactions.
New Blockchain Use Cases for Developers
With the testnet now live, developers have access to tools like a testnet explorer and faucet, which makes it a lot easier to experiment with COTI’s technology. By enabling scalable confidential transactions and secure Multi-Party Computation (MPC), COTI is set to unlock new opportunities in confidential DeFi, quantum-resistant privacy, and data sovereignty.
COTI use cases (Source: coti.io)
COTI’s CEO Shahaf Bar-Geffen and MEW founder Kosala Hemachandra are both very optimistic about the testnet’s potential to fuel innovation and help build a more private, secure blockchain future.
This article was originally Posted on Coinpaper.com
