COTI Announces ETH L2 Developer Network

The COTI Foundation is proud to announce the key use cases it will target using its $100 million development fund, which will be allocated in COTI tokens .

Web3 development leader COTI and the COTI Foundation today announced key use cases that will be the core focus for COTI Development's $100 million funding round, which will be allocated in COTI tokens. 

The selection process will be open to all developers and will encourage them to explore and build data-secure applications that would be impractical without using Multi-Party Computation (MPC). 

The first to successfully demonstrate on-chain encrypted chaining, the COTI V2 ecosystem will provide transactional confidentiality to Ethereum in a solution that is 250X lighter and up to 1000x faster than other privacy-preserving solutions on the market. 

The ability to keep data secure while using it for verification and calculation, especially at this scale, creates new use cases not only for Web3 applications, but also for the Web2 industry . COTI Foundation will power the growth of its ecosystem with incentive programs along with development grants to fund the most critical development areas.

Check Today's Crypto Market:

COTI Privacy Technology

The technology behind COTI's privacy-oriented design, encrypted circuits, is a form of Multi-Party Computation (MPC) that allows multiple parties to collaborate and perform calculations using the personal information of each party. However, this method keeps this private information encrypted throughout the process, allowing calculations to be completed without ever exposing the data to another party. 

This technology creates previously impossible use cases for Web3 as it provides unprecedented privacy while enabling trustless transactions with other parties around the world. Keeping sensitive data safe is the default for most Web2 applications, but it is much more difficult in Web3 public ledger architecture. 

Encrypted chaining allows data to provide verification and computation while remaining encrypted at all times.

COTI founder and CEO, Shahaf Bar-Geffen, said that since the announcement of COTI V2 in December, we have seen great interest in the space about the potential that privacy-oriented innovation offers Web3.

Having recently achieved our first milestone by integrating GC into the blockchain for the first time, we are excited to present a clear vision and open call to all blockchain builders and thinkers to join the COTI ecosystem, starting with our upcoming Devnet.

The launch of Devnet COTI V2 will enable developers to experiment with the technology, bring privacy to existing applications, and innovate by creating completely new use cases. Development teams can submit proposals for their ideas, and the most promising and innovative projects will receive grants to accelerate their successful implementation.

The COTI V2 ecosystem opens up use cases in a variety of different areas, strengthening existing products and services while creating new ones. 

Also read How to Buy Crypto:

DeFi and the Industry's View of Finance

DeFi has changed the way the industry looks at finance and its possible uses. However, on-chain transparency has also created uncomfortable privacy compromises. 

COTI V2 has the ability to bring the next billions in TVL to DeFi with confidential transactions that allow decentralized applications to offer new products and services, but also greatly improve the privacy and security of the services they currently offer (all while still being able to meet regulatory requirements such as KYC ). 

The platform's privacy features also help protect against one of the oldest “exploits” in Ethereum DeFi: Losses from MEV. With encrypted DeFi transactions, MEV bots and fraudsters do not have the information necessary to exploit transactions and profit at someone else's expense. COTI V2 includes a completely natural MEV protection mechanism.

Dynamic Decentralized Identification and confidential transactions open new avenues for existing Web3 and Web2 platforms. Without an encrypted chain or some other type of sophisticated MPC, the actions required to verify identity or critical parts of a transaction significantly reduce what can be achieved between organizations unless privacy is sacrificed. 

Traditional banking interacts globally using encryption, but all parties involved then have access to this sensitive information. COTI V2 allows all identity verification and personal information to be shared, calculated and stored, but without disclosing the actual data to others. 

Users keep their own data, can fully comply with KYC requirements, but do not have to provide their information. At the same time, dApps will be able to interact with digital identities and ask them questions about specific insights, such as is the user an EU citizen? Is the user over 18 years old?

All of this occurs without any specific personal information being shared between the parties. The result is countless applications for both Web2 and Web3 to create ling

How to Buy Coti (COTI) on Bittime

You can buy and sell Coti (COTI) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Coti (COTI) is available on Bittime with the market pair COTI/IDR . To be able to buy COTI IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Coti (COTI) on Bittime . 

Monitor price chart movements of Coti (COTI), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read: 

COTI Price Latest Analysis, Will the Bullish Trend Continue?

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

COTI Price Soars, Will This Token Maintain Its Momentum?

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.