COTI Foundation has officially launched its developer network, marking the introduction of advanced garbled protocols in the development of smart contract blockchains.
According to the official announcement, COTI’s V2 Devnet will set the stage for a wide range of privacy-focused use cases in the Web3 realm. This Ethereum Layer 2 chain is designed to facilitate blockchain-native functions such as data sharing, verification, and multiparty (MPC) computation without compromising the data privacy of its ecosystem participants.
Notably, the Devnet launch also coincides with a grant program that COTI recently launched to inspire privacy-centric DApp development powered by its garbling protocol solution. A total of 400 million $COTI tokens have been set aside for this initiative to incentivize developers and other innovators to experiment with COTI’s V2 Devnet.
Commenting on the milestone, COTI’s CEO Shahaf Bar-Geffen noted that the official Devnet launch alongside the grant program opens doors for interested Web3 innovators globally.
“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.”
What stands out about COTI’s V2 confidentiality layer is the use of garbled circuits, a cryptographic technique that enables the encryption of a multi-party computation, only revealing the output while maintaining the data privacy of the inputs.
In addition to this, COTI V2 Devnet also features key development tools. Some of them include 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.
These functionalities will enable the rapid experimentation of COTI’s V2 EVM-compatible smart contracts using the solidity language.
As for the grant program, COTI Foundation intends to go beyond the developer community to target three main groups: (A)mbassadors, (B)uilders, and (C)reators, hence the name ABC Growth Fund. Currently, the Builders program is in motion; developers with a solid proof-of-concept (PoC) can submit their applications and receive up to $100K in grants.
It is also noteworthy that COTI’s V2 garbling protocol solution has already attracted a partnership with Web3 identity management tool provider, Civic. The latter will use COTI’s V2 confidentiality layer to enhance data protection for its users.
“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.” added Bar-Geffen.
Other Web3 privacy-focused initiatives that can tap into COTI V2 include projects building in Confidential DeFi, Confidential Transactions for Payments, Stablecoins and RWA, On-Chain Sensitive Data Management, and Confidential Machine Learning and AI.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
