According to BlockBeats, on April 2nd, DAG payment network COTI announced the official release of its V2 whitepaper, aiming to lead a new revolution in privacy and performance for Ethereum L2. COTI V2 adopts a unique combination of privacy technologies, with the key technology being the Garbling Protocol, achieving 1000 times faster computation speed, reducing storage requirements by 250 times, and lowering latency by 100 times compared to similar solutions. In addition, gcEVM, an innovative extension to the Ethereum Virtual Machine (EVM) designed by Soda Labs, introduces privacy to blockchain transactions, allowing secure computation on encrypted data.
COTI V2 also proposes a new concept of decentralized sortition, using an improved PBFT algorithm to enhance security and transparency, providing strong support for use cases such as confidential transactions, decentralized finance (DeFi), and artificial intelligence (AI) in the Web3 era, accelerating the widespread adoption of Web3. As previously reported by BlockBeats, COTI announced plans to launch an Ethereum Layer 2 network in its 2024 upgrade. COTI's Ethereum Layer 2 network will focus on user privacy protection while receiving security support from the Ethereum mainnet.