COTI has announced the launch of its COTI V2 developer network, introducing advanced garbled protocols to the blockchain for the first time. This development represents a significant milestone for the blockchain industry, adding a layer of confidentiality that opens up numerous use cases previously unattainable within a Web3 ecosystem. The COTI V2 network facilitates data sharing, verification, and multi-party computation while preserving the confidentiality of underlying personal information.
Developer Network and Grant Program
The launch of the Developer Network is accompanied by a new grant program, designed to incentivize developers to experiment and build with this innovative technology. The COTI Foundation has allocated 400 million $COTI tokens from the existing supply for this grant program. The initiative aims to accelerate growth, inspire innovation with new use cases, and explore the full range of opportunities that a privacy-centric Web3 ecosystem can offer.
COTI’s CEO, Shahaf Bar-Geffen, highlighted that the COTI V2 Developer Network is now accessible to developers worldwide. Through the Builders program, COTI invites teams globally to participate in the network and share their developments. Bar-Geffen emphasized that the upcoming year promises substantial growth, new partnerships, and expansion of COTI’s network.
Privacy-Centric Possibilities
Despite over a decade of efforts by experienced teams to develop new Web3 use cases, the area of blockchain reliant on robust confidentiality has remained largely inaccessible. COTI’s garbling protocols enable teams to fully leverage Web3’s potential, including various use cases, decentralized applications (dApps), and protocols that require an impenetrable confidentiality layer.
The COTI V2 Developer Network provides development teams with essential tools, including a NodeJS SDK, a Python SDK, server access, comprehensive documentation, a faucet to cover gas for on-chain activities, and an explorer for on-chain analytics. The network is designed to facilitate rapid experimentation with new smart contracts using COTI V2 within an accessible Ethereum Virtual Machine (EVM) environment, utilizing the widely known programming language, Solidity.
Accelerating Innovation with the 400M $COTI Grant Program
The COTI Foundation’s ABC Growth Fund, which stands for Ambassadors, Builders, and Creators, is designed to bring real-world privacy solutions to the masses. The program seeks applications from innovative researchers, developers, educators, and builders eager to explore the capabilities of the COTI ecosystem. The substantial grant allocation is expected to spur rapid innovation, enabling teams to quickly investigate the numerous potential use cases with the COTI V2 confidentiality layer.
The Builders program, part of the ABC Growth Fund, is structured with four different tiers, each with increasing impact on the COTI ecosystem. Developers are encouraged to submit applications to create proofs of concept (POCs) for privacy-preserving smart contracts, tools, privacy-focused dApps, and more. Selected applicants can receive grants ranging from $1,000 to $100,000.
Strategic Partnerships and Use Cases
Civic, a partner of COTI and a leading provider of identity management tools for Web3, has already begun utilizing the COTI V2 Developer Network. Civic plans to leverage COTI V2’s confidentiality layer for its Dynamic Decentralized Identity (DyDID).
The foundation is actively seeking partners to explore a variety of use cases, including confidential decentralized finance (DeFi), confidential transactions for payments, stablecoins, and real-world assets (RWA), on-chain sensitive data management, confidential machine learning and artificial intelligence, and dynamic decentralized identification (DID). Additional use case ideas are encouraged and detailed on COTI’s platform.
Bar-Geffen expressed optimism about the grant program, anticipating a year filled with new developments, partnerships, and the growth of COTI’s network. He conveyed enthusiasm for the opportunities ahead and invited others to join in this exciting endeavor.
Conclusion
The introduction of the COTI V2 Developer Network and its accompanying grant program marks a transformative step in the blockchain industry. By integrating advanced garbled protocols, COTI is poised to revolutionize data confidentiality in Web3, fostering innovation and expanding the boundaries of blockchain technology. As developers and partners engage with this new platform, the possibilities for privacy-centric applications and solutions are set to grow exponentially.
