The blockchain platform, Coti, announced its transition from a standalone protocol to a scalable, privacy-focused Ethereum layer-2 in 2024.
The move aims to extend Coti’s privacy features to a wider audience by adopting garbled circuits, a cryptographic method rooted in multi-party computation. This method enables confidential transactions by safeguarding inputs and variables.
Coti CEO Shahaf Bar-Geffen said, “This level of privacy is particularly important in decentralized finance applications where transaction confidentiality can be as critical as transaction integrity.”
The transition is set to empower enterprise functions with enhanced privacy, targeting use cases in finance and healthcare. Coti v2 is scheduled for a developer net release in Q2 2024, focusing on providing advanced privacy provisions for blockchain applications.
Coti’s transition to an Ethereum layer-2 with enhanced privacy features reflects a strategic move aligned with the growing importance of confidentiality in blockchain applications.
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