COTI announced that its COTI V2 developer network is now live, bringing advanced garbled protocols to the blockchain for the first time. This marks a major milestone for the blockchain industry as a whole, bringing a layer of confidentiality that unlocks countless use cases that were previously impossible to develop using a Web3 ecosystem. COTI V2 facilitates data sharing, verification, and multi-party computation without compromising the confidentiality of the underlying personal information.
The launch of the Developer Network coincides with a new grant program allowing developers to experiment and build with this technology and be rewarded for their contribution. The COTI Foundation has set aside a total of 400M $COTI tokens from the existing supply in a grant program in order to supercharge rapid growth, inspire groups to innovate with new use cases, and explore the full range of opportunities that a privacy-centric Web3 ecosystem can provide.
“We’re opening our doors to the world with the COTI V2 Developer Network,” says Shahaf Bar-Geffen, COTI CEO, “and 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.”
COTI V2 Developer Network: Privacy-Centric Possibilities
While experienced teams have been working to build out new Web3 use cases for over a decade, this entire area of blockchain has been completely inaccessible. COTI’s garbling protocols allow teams to envision the full power of Web3, including the many different use cases, dApps, and protocols that depend on an impenetrable confidentiality layer.
Development teams can use the COTI V2 Developer Network to build using one of the best techniques within multi-party computation (MPC) for preserving private information – a cryptographic technique called Garbled Circuits.
The Developer Network provides a number of key tools for development teams, including 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. The Developer Network is designed for rapid experimentation with new smart contracts utilizing COTI V2, which is in an easy-to-use, accessible EVM environment using the familiar native programming language, Solidity.
400M $COTI Grant Program Accelerates Innovation
Called the ABC Growth Fund, the COTI Foundation has allocated 400M COTI tokens for (A)mbassadors, (B)uilders, and (C)reators to help bring real-world privacy solutions to the masses. The program is seeking applications from innovative researchers, developers, educators, and/or builders who want to test the limits of what the COTI ecosystem can accomplish.
The massive infusion will spur rapid innovation, allowing teams to quickly explore the many different use cases possible with the COTI V2 confidentiality layer. The platform is rolling out the Builders program of the COTI ABC Growth fund, which is structured with four different tiers in order of ascending impact to the COTI ecosystem. To join, developers are invited to submit their applications to create proofs of concept (POCs) for privacy-preserving smart contracts, tools, privacy-focused dApps, and more, with those selected receiving grants ranging from $1000 to $100K.
Civic, one of COTI’s partners and a leading provider of identity management tools for Web3, has already started building on COTI V2 Developer Network. Civic will leverage COTI V2’s confidentiality layer for Dynamic Decentralized Identity (DyDID).
The foundation is looking for partners to explore many different use cases, with key areas including:
- Confidential DeFI
- Confidential Transactions for Payments, Stablecoins and RWA
- On-Chain Sensitive Data Management
- Confidential Machine Learning & AI
- Dynamic Decentralized Identification (DID)
Other use case ideas can be found here.
Bar-Geffen said of the grant program, “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.”
About COTI
COTI is a fast and light confidentiality layer on Ethereum. Powered by the breakthrough cryptographic protocol Garbled Circuits and secured by Ethereum, COTI introduces an advanced and compliant solution for data protection on public blockchain. Paving the way for the next wave of Web3 innovation and adoption, COTI unlocks a whole new world of use cases, including confidential transactions, Artificial Intelligence, DeFi, decentralized identification, and more.