COTI Presents First Garbled Circuits on Blockchain, Enhances Privacy and Security

COTI has just launched the latest innovation that can increase privacy and security in the blockchain world . That innovation is Garbled Circuits, a revolutionary technology integrated into the core of COTI V2.

What are Garbled Circuits?

Garbled Circuits is a cryptographic technique used to allow two parties to perform computations together without disclosing their confidential information to each other. This technique is used in multiparty security protocols, such as the Secure Multi-Party Computation Protocol (MPC ).

The main concept behind Garbled Circuits is that both parties construct a logic circuit (e.g., logic gates such as AND, OR, NOT, etc.) that represents the function they want to compute together. However, this circuit is modified in such a way that it does not allow others to see the inputs, outputs, or logic within it. Once the circuit is assembled, both parties exchange information to evaluate the circuit without disclosing their input to the other party.

In simple terms, Garbled Circuits offer several advantages:

• 1000 times faster in carrying out calculations than the Fully Homomorphic Encryption (FHE) system.
• Reduces latency 100 times compared to existing privacy solutions.
• Requires 250 times less data storage than FHE.

In other words, Garbled Circuits enable blockchain operations to run faster, more efficiently, and require much less storage space, all while maintaining a high level of privacy and security.

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How Do Garbled Circuits Work?

Imagine two rich people want to know who is richer without having to reveal their wealth in detail. Garbled Circuits acts like a special program that can determine this without revealing the actual amount of wealth.

This process essentially "decompiles" the circuit, but only in a way that produces an output that answers their question: who is richer? Interestingly, both parties cannot see each other's financial information, but they can still find out who has greater wealth.

This breakthrough from COTI highlights the potential of Garbled Circuits to improve privacy and security in blockchain. By enabling complex calculations and comparisons to be performed without disclosing private information, Garbled Circuits opens up new possibilities for secure and confidential transactions and interactions on the blockchain.

The way Garbled Circuits work is based on a key concept in cryptography, known as “oblivious transfer” (OT). OT allows the party sending a message (sender) to send information to another party (recipient) without knowing which message the recipient has received. Garbled Circuits leverages OT to build secure logic circuits.

Thus, Garbled Circuits allow two parties to perform computations together without disclosing their confidential information to each other. This technique is widely used in multiparty security protocols, such as the Secure Multi-Party Computation (MPC) Protocol, to address privacy and confidentiality issues in distributed computing.

Here are the general steps in how Garbled Circuits work.

1. Circuit Construction

Each party (usually referred to as Alice and Bob) builds a logic circuit that represents the function they want to compute together. This circuit consists of logic gates such as AND, OR, NOT, and others.

2. Garbling

Each party encrypts their own circuit gates separately using cryptographic keys. This process is referred to as "garbling". Each gate in the circuit is converted into an encrypted truth table.

3. Information Exchange

Then, Alice and Bob exchange information about their garbled circuits. It includes messages encoding circuit lines, as well as messages related to their inputs.

4. Circuit Evaluation

After exchanging messages, each party can evaluate the garbled circuit received from the other party using their own input. However, because the circuit and truth table are encrypted, neither party will be able to know the other party's secret inputs or the logic behind the circuit.

5. Decryption

Once the evaluation is complete, parties can decrypt the evaluation results to obtain the output of the shared computation without disclosing their secret input to each other.

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How to Buy COTI on Bittime

After knowing what COTI is and how it works, are you interested in buying and investing in this crypto asset? You can do it at Bittime. COTI tokens are available on Bittime in COTI IDR pairs. 

 Below is a guide on how to buy COTI tokens on Bittime. 

1. Register an account at Bittime using an active email. 
2. Complete the identity verification process.  
3. Once the account is verified, open the Bittime application.
4. Select the Market menu or click the graphic icon. 
5. Select IDR pairing to buy COTI with Rupiah.
6. Click 'Buy'.
7. Select the order type to use. Limit orders, market orders and stop orders are available.
8. Enter the nominal rupiah to buy COTI.
9. Click the 'Buy COTI' button. 
10. A notification pop up will appear. Read it carefully and click 'Confirm'. 
11. Enter the six digit Transaction PIN.
12. The application will display a successful order notification. 

For a complete guide on how to buy COTI, click here .

Apart from buying COTI tokens, you can also buy various crypto assets such as BTC, ETH, SOL, ADA, AVAX, DOGE, and many others. Don't forget, keep monitoring ORDI, BTC, ETH, SOL price chart movements today to find out crypto market trends on Bittime. 

Crypto asset buying and selling transactions on Bittime are easy, safe and instant. Bittime is officially registered and supervised by Bappebti and Kominfo. 

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DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.