COTI successfully demonstrates obfuscated circuits on the blockchain, paving the way for COTI V2 privacy network

According to CryptoPotato, Web3 infrastructure development company COTI announced that it has successfully demonstrated obfuscated circuits on the blockchain before the launch of its privacy-centric Ethereum-based second-layer network COTI V2 in April. COTI deployed obfuscated circuits with its partner Soda Labs to create a mechanism for completing calculations using less processing power and memory. Obfuscated circuits achieve privacy protection on the chain and are 1,000 times faster than other encryption systems such as fully homomorphic encryption. COTI said that deploying the new encryption system will create a Web3 environment that allows users to access immutability on the chain while maintaining complete privacy. This feat has never been achieved in a scalable way before. The new encryption system uses specialized encryption methods to allow multiple parties to perform calculations that require private information without disclosing input information to other parties. COTI claims that obfuscated circuits are superior to zero-knowledge protocols and are critical to many Web3 use cases.