New L2 solution offers tools for developers to build privacy-focused blockchain applications.
Key Takeaways
- COTI launches L2 testnet with support from MEW, AnChain, and other ecosystem partners.
- The testnet offers developers tools to explore COTI's Garbled Circuits technology for privacy solutions.
COTI announced the launch of its layer-2 testnet with support from a dozen ecosystem partners, including MyEtherWallet (MEW) and AnChain. The new scalable EVM-compatible network aims to provide affordable privacy solutions for web3.
The testnet launch enables developers to explore COTI’s features and Garbled Circuits technology, developed in collaboration with Soda Labs. This implementation allows joint computation of functions over private inputs without revealing those inputs.
“The response to our testnet launch has been astounding, with projects and developers from various sectors across web3 joining our community to build a private blockchain future,” COTI CEO Shahaf Bar-Geffen said.
The testnet offers developers tools including an explorer, faucet, SDK support, and a Remix plugin for smart contract development. COTI claims its solution is faster and lighter than existing privacy options, based on published benchmarking results.
“We are excited to collaborate to provide COTI with user-friendly products that are open source and privacy-centric,” Kosala Hemachandra, CEO and Founder of MyEtherWallet, added.
COTI’s technology aims to enable confidential transactions at scale and deliver affordable, secure MPC, potentially unlocking new applications in confidential decentralized finance (DeFi), quantum-resistant privacy, and data sovereignty.