COTI Rolls Out Second Layer Network to Enhance Blockchain Confidentiality
COTI, a leading blockchain platform, has announced the launch of its new Layer 2 network, designed to address the long-standing challenge of blockchain privacy. This innovative network integrates Garbled Circuits, a cutting-edge cryptographic technology, to enable private and compliant transactions without exposing sensitive data on-chain.
The new Layer 2 network offers a range of benefits over traditional blockchains, particularly in terms of speed, scalability, and compliance. It is EVM-compatible and supports privacy-on-demand features, allowing users to selectively disclose information as needed rather than having all data public. This makes the network suitable for decentralised finance (DeFi) platforms and enterprises requiring confidentiality, such as COTI’s partnership with the PriveX exchange, which uses the technology to protect traders’ strategies from exploitation.
COTI's Privacy-on-Demand feature ensures secure data management while remaining compliant with regulatory frameworks. The network provides developers and enterprises with an effective means to secure financial transactions, facilitating AI-powered digital interactions and management of real-world assets more securely.
In a bid to foster an ecosystem for privacy innovation, COTI is collaborating with projects like Secret Network and hosting events to unite developers working on privacy solutions. This initiative aims to mainstream on-chain privacy for both enterprises and users, contributing to building trust and confidence necessary for blockchain adoption in traditional finance.
COTI is also preparing to announce further collaborations in government-backed digital currency programs, extending its presence into the public sector. The distribution of tokens aims to offer a firsthand experience of the platform's capabilities, fostering greater engagement and adoption.
By eliminating one of the key obstacles to mainstream adoption, COTI is contributing to a more secure digital transaction landscape. The introduction of its Layer 2 network marks a substantial step towards making blockchain privacy practical, efficient, and scalable.
The new network includes a blockchain explorer and a bridge for seamless transition from earlier versions. Garbled Circuits accelerate transaction speeds by up to 3,000 times compared to conventional alternatives, making it a significant advancement in the realm of blockchain technology.
COTI's network uses Garbled Circuits, a cryptographic technology developed in collaboration with Soda Labs. This technology facilitates encrypted computation, allowing smart contracts to process data without revealing it, thus overcoming the transparency limitations of traditional blockchains and enhancing user and business privacy while maintaining regulatory compliance.
In summary, COTI’s privacy-focused Layer 2 network addresses blockchain privacy challenges by providing efficient, regulatory-compliant private computation through Garbled Circuits. This advancement is expected to empower businesses, developers, and individuals seeking greater confidentiality in their blockchain interactions, paving the way for a new era of secure digital finance.
- The new Layer 2 network developed by COTI, which includes Garbled Circuits technology, offers a solution for privacy-conscious users and enterprises by enabling private and compliant transactions, making it suitable for decentralized finance (DeFi) platforms.
- By integrating Garbled Circuits, a cryptographic technology, into its Layer 2 network, COTI addresses one of the key challenges in blockchain technology, offering faster and more scalable privacy-on-demand features, contributing to a more secure digital transaction landscape.
