Coti to Transition to Scalable, Privacy-Focused Ethereum Layer-2 in 2024

...

Coti, an enterprise-grade blockchain platform, has announced plans to transition its protocol to become a scalable, privacy-focused layer-2 on Ethereum by 2024. The move will enable Coti to bring its privacy features to a wider ecosystem. The protocol, known as Coti v2, utilizes a cryptographic approach called garbled circuits, which allows transactions to be processed without exposing sensitive information and data. Garbling protocols, which are based on multi-party computation (MPC), enable parties to jointly compute a function while keeping their inputs and intermediate variables private. Coti CEO Shahaf Bar-Geffen highlighted the importance of preserving privacy in decentralized finance applications and emphasized that garbling protocols offer a unique approach to transaction confidentiality. Coti v2 is set to be released in Q2 2024, with a focus on powering enterprise functions with enhanced privacy provisions.
#CryptoNews #CryptoTalks #cryptocurrency