COTI’s new cross-chain capabilities to set new standards for Web3 privacy across major blockchains.

Today, COTI announced its cross-chain privacy provision, following a successful proof of concept which paves the way for seamless and on-demand privacy for enterprises, dApps, and protocols, for up to 71+ supported chains.

COTI’s new cross-chain capabilities will enable it to act as a privacy layer across all major chains, including both EVM and non-EVM platforms, providing cross-chain confidentiality to a wide range of DeFi and Web3 applications.

This milestone has significant implications for the broader Web3 space. Enterprise, Applications and developers on other chains will be able to access Privacy-on-demand without having to move from their native chain. It will be possible to access COTI’s fast, lightweight privacy features from all major blockchains, for example, Ethereum, Solana, Polygon, and Avalanche, without changes to the underlying tech stack, and with the ability to turn privacy on and off when required.

COTI: The Privacy Layer For Web3

The biggest barrier to widespread blockchain adoption is the lack of privacy on open, public chains. Many businesses cannot integrate fully with decentralized technologies until they offer a balance of both transparency and privacy that allows them to maintain compliance. By provisioning privacy across all major chains, COTI’s capabilities could establish a universal confidentiality layer for Web3.

Thanks to its new implementation of garbled circuits, developed with Soda Labs, COTI is the first solution for decentralized confidential computing (DeCC) that is lightweight and fast enough to scale, meaning it can run on any device — even a mobile phone. Privacy is now affordable and flexible — allowing for a wide range of use cases.

“COTI’s new cross chain capabilities mark a significant moment for Web3 privacy. Our aim is to bring privacy to the broader Web3 ecosystem and today, we can begin. COTI is the only privacy chain capable of meeting the performance requirements of large-scale privacy provision and we’re excited to offer privacy-on-demand directly to builders on their native chains.” — Shahaf Bar Geffen, COTI CEO and Co-Founder

Following the successful proof of concept, COTI’s team will now work to integrate with Axelar’s Amplifier technology, enabling cross-chain Web3 privacy across all 71+ networks served by it. This includes support for all major blockchain platforms — and, crucially, encompasses popular non-EVM chains for example Solana, Base, and Cosmos.

COTI’s cross chain capabilities are an industry first. It has not been possible for projects on other chains to compute on encrypted data held on another chain before now. For example, sensitive information such as social security numbers is typically held off-chain to maintain privacy and compliance. This data can now be stored, encrypted, on COTI, allowing third-party applications on other chains to query it via the cross-chain privacy protocol while maintaining confidentiality at every stage of the process. A service provider might carry out an age check to ensure a user is over 18, submitting a transaction to COTI and receiving a positive or negative response, without exposing any further information to themselves or to any observer.

You can view our cross chain privacy demonstration here.

Why Is Cross-Chain Privacy So Important?

The growth of the blockchain sector has seen the rise of many different layer-1 and layer-2 platforms, bringing fragmentation of user bases, liquidity, and services. Seamless cross-chain technology is a prerequisite for the maturation of the Web3 ecosystem.

Alongside this, privacy stands as a fundamental barrier to wider Web3 adoption. COTI’s cross-chain confidential transactions solve both of these problems at a stroke. The combination of cross-chain transactions with robust and compliant privacy offers a new set of solutions and use cases to Web3 businesses and users:

  • COTI’s cross-chain capabilities remove the need for multiple wallets and exchanges, making it easier for users to move assets and data between chains.

  • By bringing privacy features to all major chains, COTI enables access to liquidity across the DeFi ecosystem and every supported market.

  • Users maintain confidentiality by default, with transaction amounts kept private, metadata protected, and atomic swaps remaining private but compliant.

  • Seamless interoperability brings greater scope for collaboration with privacy-centric projects hosted on other chains.

  • Builders on COTI Network can use cross chain privacy to enable privacy on demand to their users and to access oracles/data on different chains for their dApps.

These are just a few of the use cases and we expect that many more will emerge from the cross chain privacy that COTI enables.

Removing The Barriers To Blockchain Adoption

COTI’s entrance into the cross-chain privacy space, brings with it a sea-change in the way we think about and use blockchain technology.

By enabling secure, private, frictionless, flexible, and compliant access to potentially any dApp on any chain, COTI is changing the paradigm for decentralized services, and enabling businesses to integrate new technologies with confidence.

The shift to a universal Web3 privacy standard has begun!

To find out more about leveraging COTI’s cross chain privacy provision, join us at an open Developer Session on 20th November 2024.

For all of our updates and to join the conversation, be sure to check out our channels:

Website: https://coti.io/

X: https://twitter.com/COTInetwork

YouTube: https://www.youtube.com/channel/UCl-2YzhaPnouvBtotKuM4DA

Telegram: https://t.me/COTInetwork

Discord: https://discord.gg/9tq6CP6XrT

GitHub: https://github.com/coti-io

COTI Announces Privacy-on-Demand for All Major Blockchains was originally published in COTI on Medium, where people are continuing the conversation by highlighting and responding to this story.