Quick take:
COTI Foundation is also setting aside 400M in $COTI tokens for a new grant program allowing developers to experiment and build with this technology.
The program incentivises developers to innovate with new use cases as they explore the full range of opportunities a privacy-centric Web3 ecosystem can provide.
Teams can leverage a range of development tools including a NodeJS SDK, a Python SDK, and a faucet to cover gas for on-chain activity among others.
COTI, a “fast and light” confidentiality layer built on Ethereum has launched Coti V2, a privacy-centric development platform enabling Web3 builders to explore an extensive range of use cases without compromising the confidentiality of the underlying personal information.
According to COTI, its advanced blockchain layer facilitates data sharing, verification, and multi-party computation, unlocking multiple use cases that “were previously impossible to develop using a Web3 ecosystem.”
The launch was accompanied by the announcement of a grant program that will allow developers to build with the technology and be rewarded for their contribution. COTI Foundation, the organisation behind COTI is setting aside 400M in $COTI tokens for a new grant program as part of its strategy to supercharge ecosystem growth.
The tokens will be allocated to Ambassadors, Builders, and Creators as they look to bring real-world privacy solutions to the masses, the company said in a statement. Selected projects and teams will receive grants ranging from $1000 to $100K.
The program incentivises developers to innovate with new use cases as they explore the full range of opportunities a privacy-centric Web3 ecosystem can provide. Builders will be able to leverage a range of development tools on the platform including a NodeJS SDK, a Python SDK, and a faucet to cover gas for on-chain activity among others.
Commenting on the announcement, Shahaf Bar-Geffen, COTI CEO, said in a statement: “We’re opening our doors to the world with the COTI V2 Developer Network. With our Builders program, we’re inviting teams around the world to take part in COTI V2’s developer network and share what you’re building. We have an incredible year ahead of building new things, making new partners, and growing COTI’s network.”
COTI describes its technology toolkit as “garbling protocols” — which essentially is a cryptographic system that allows two mistrusting parties to jointly evaluate a function over their private inputs without the presence of a trusted third party. According to COTI, this unction allows teams to “envision the full power of Web3 including the many different use cases, dApps, and protocols that depend on an impenetrable confidentiality layer.”
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