Exclusive: COTI V2 to Revolutionize Blockchain Privacy with Groundbreaking Ethereum Layer-2 Solution
- COTI, an established name in the crypto industry, is making strides with significant new developments.
- COTI’s current focus includes the launch of a privacy-centric Ethereum layer-2 blockchain solution.
- CEO Shahaf Bar-Geffen emphasizes the importance of privacy in both blockchain technology and broader Internet communications.
Learn about COTI’s innovative approach to blockchain privacy and their ambitious plans for the future, including the anticipated mainnet launch.
COTI’s Strategic Focus for the Future
In a recent podcast, CEO Shahaf Bar-Geffen shared insights on COTI’s progression and future roadmap. The primary focus is on the imminent launch of COTI V2, designed as a privacy-centric layer-2 solution for Ethereum. Addressing the significance of privacy, Bar-Geffen highlighted the essential role of decentralized networks in safeguarding user data, marking a pivotal shift from traditional systems.
Selective Disclosure: A Unique Privacy Approach
Bar-Geffen elaborated on the concept of “selective disclosure,” distinguishing COTI V2 from completely anonymous solutions like Monero. This feature allows users to control the visibility of their transaction details, ensuring confidentiality while enabling regulatory audits in case of suspicious activities. This approach aims to provide the privacy users desire without compromising on compliance and security.
Technological Innovations Driving COTI V2
COTI has pioneered the integration of garbled circuits into blockchain technology, significantly enhancing on-chain privacy and computational speed. This advancement, achieved with the collaboration of Soda Labs, promises a performance boost up to 1,000 times faster than traditional encryption methods like fully homomorphic encryption (FHE). Additionally, garbled circuits can manage transactions involving private states shared by multiple parties, offering a more robust solution compared to ZK-based technologies.
The Roadmap Ahead
Bar-Geffen outlined the advancements made since COTI introduced the concept for the V2 network. The Developer Network, now operational, supports over 400 smart contracts and includes the GC EVM technology, enabling developers to write Solidity contracts with confidentiality parameters. The testnet, recently completed, is set to launch soon and will pave the way for the mainnet expected to go live by the end of the year.
Future Initiatives
Looking ahead, COTI plans to streamline KYC processes, focus on AI-related projects, and develop new DeFi solutions. These initiatives are part of the broader vision to establish COTI as a leader in providing privacy-centric blockchain solutions.
Conclusion
COTI’s strategic focus on privacy and innovation positions it at the forefront of blockchain technology advancements. With the upcoming mainnet launch and continued emphasis on privacy and regulatory compliance, COTI aims to address key industry challenges and set new standards in the crypto ecosystem.
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