According to CryptoPotato, web3 infrastructure development firm COTI has launched a developer network in preparation for the release of its privacy-focused Ethereum-based layer-2 network, COTI V2. The developer network, which is now live, introduces a new layer of confidentiality and advanced garbled protocols to the blockchain. This will allow market participants to explore various web3 use cases, such as confidential decentralized finance (DeFi), on-chain sensitive data management, confidential machine learning and artificial intelligence, Dynamic Decentralized Identification, and confidential transactions for payments, stablecoins, and real-world assets.
The COTI V2 developer network provides several tools for development teams, including a Python SDK, a faucet to cover gas for on-chain activity, a NodeJS SDK, server access, extensive documentation, and an explorer for on-chain analytics. The network is designed to facilitate experimentation with new smart contracts using COTI V2. The company claims that developers can use the network to build one of the best techniques within multi-party computation for securing private information.
In addition to the launch of the developer network, the COTI Foundation has announced a new grant program to incentivize builders for their contribution. The foundation has allocated 400 million COTI, worth approximately $52 million at current prices, from the token’s existing supply. The grant, named the ABC Growth Fund, is aimed at ambassadors, builders, and creators on the devnet. The program is open to innovative builders, developers, and researchers interested in testing the limits of the COTI ecosystem’s capacity. COTI CEO Shahaf Bar-Geffen stated that they are inviting teams worldwide to participate in COTI V2’s developer network and share their creations.
The ABC Growth Fund has a four-tiered structure to maximize its impact on the ecosystem. Developers interested in the program are required to submit their applications to create proofs of concept for privacy-preserving smart contracts, tools, and products.
