$COTI Rockets Over 100%! This is WHY?
COTI has witnessed a substantial surge in its value over the past week, propelled by significant developments within its ecosystem. The cryptocurrency experienced an impressive spike of over 100%, reaching a pinnacle of $0.21 at the time of this report.
The notable doubling of COTI's price can be attributed to the recent introduction of a privacy-enhancing feature on the COTI blockchain known as Garbled Circuits. The Foundation unveiled this breakthrough in blockchain encryption on February 20, addressing previous challenges. COTI proudly emphasized substantial enhancements, including computation speeds that are 1,000 times faster than conventional Fully Homomorphic Encryption (FHE) systems and a storage footprint 250 times smaller than alternative solutions.
Furthermore, Garbled Circuits provide the added advantage of managing transactions that impact private states shared among multiple parties. This stands in contrast to Zero-Knowledge (ZK) solutions while also mitigating risks associated with single-point-of-failure, a concern often linked with Trusted Execution Environment (TEE) solutions.
The COTI Foundation expressed the groundbreaking nature of Garbled Circuits, stating, "For the first time in history, garbled circuits have the speed and computational power to run efficiently on the blockchain, making it the perfect choice for the COTI V2 privacy-preserving solution."
The demonstration of Garbled Circuits by COTI follows closely on the heels of the implementation of the Multi-Party Computation (MPC) protocol within its new layer-2 network less than a fortnight ago. During this earlier announcement, the company highlighted that MPC endpoints enable collaborative computation without compromising data privacy.
