Coinspeaker COTI V2 Launches Developer Network to Foster Privacy-Focused Blockchain Innovation
COTI V2, a privacy-centric Ethereum Layer 2 chain, has today announced the launch of its developer network (Devnet).
The much-awaited debut is a huge milestone for the Web3 ecosystem as it marks the first time garbled circuits are being used in blockchain development. For context, a garbled circuit is a cryptographic technique that allows privacy preservation within a multi-party computation (MPC) environment.
At its core, COTI’s V2 Devnet introduces a layer of confidentiality in the DApp ecosystem, allowing Web3 developers to explore countless use cases that were previously limited due to privacy concerns. Some of the fundamental blockchain functions that COTI V2 will facilitate include data sharing, verification, and multi-party computation (MPC), all while preserving users’ data privacy.
Building on this foundation, the recently launched developer network will enable rapid experimentation with COTI V2 smart contracts, which are EVM-compatible and use the Solidity language for programming.
In addition, the Devnet also supports other key DApp building tools, including a Python SDK, a NodeJS SDK, an explorer for on-chain analytics, server access, a faucet to cover gas for on-chain activity, and extensive documentation.
COTI’s Grant Accelerator Program
The announcement of COTI’s Devnet coincides with a recently launched grant program dubbed the ABC Growth Fund. COTI has already allocated 400 million $COTI tokens towards this initiative to spur innovation within its privacy-focused Layer 2 ecosystem.
According to the official press release, the ABC Growth Fund targets (A)mbassadors, (B)uilders, and (C)reators looking to leverage real-world privacy solutions to further expand the reach and appeal of blockchain solutions.
COTI’s CEO Shahaf Bar-Geffen commented on the launch of the Devnet, adding that the project is not only opening doors to the world through COTI V2 but also inviting innovators across the globe to participate in the ecosystem through the grant program:
“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.”
So far, the rollout of the Builders program is in progress; interested developers can submit their proof-of-concept (PoC) privacy-focused smart contracts to be eligible for grants between $1,000 and $100,000. This initiative is structured in four tiers based on the ascending impact on COTI’s V2 confidentiality Layer 2 ecosystem.
It is also worth highlighting that COTI V2 has already partnered with Civic, a Web3 identity management tool provider, which will use the garbling protocol to advance its dynamic decentralized identity solution.
“We have an incredible year ahead of building new things, making new partners, and growing COTI’s network,” said Bar-Geffen.
This Layer 2 chain is looking to further expand its DApp footprint with a focus on projects that are building in other niche privacy-focused areas such as Confidential Machine Learning and AI, On-Chain Sensitive Data Management, Confidential Transactions for Payments, Stablecoins and RWA, and Confidential DeFi.
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COTI V2 Launches Developer Network to Foster Privacy-Focused Blockchain Innovation
