Testnet Launch

COTI has officially launched its layer 2 (L2) testnet, collaborating with key partners like MyEtherWallet and AnChain. This milestone for COTI's scalable Ethereum Virtual Machine (EVM) network aims to offer affordable privacy solutions for the Web3 ecosystem, attracting a diverse array of industry players.

Innovative Privacy Features

COTI's testnet utilizes Garbled Circuits technology, developed in partnership with Soda Labs. This cryptographic protocol enables private data computation without exposing inputs, providing an advanced layer of privacy for blockchain applications. COTI's benchmarking shows its solution is faster and more lightweight compared to existing alternatives.

Empowering Developers

With the testnet now live, developers have access to tools like a testnet explorer and faucet, making it easier to experiment with COTI's technology. By enabling scalable confidential transactions and secure Multi-Party Computation (MPC), COTI seeks to unlock new opportunities in confidential DeFi, quantum-resistant privacy, and data sovereignty.

Industry Optimism

COTI's CEO Shahaf Bar-Geffen and MEW founder Kosala Hemachandra are both optimistic about the testnet's potential to fuel innovation and build a more private, secure blockchain future. The involvement of partners from diverse sectors underscores the growing importance of privacy in the evolving Web3 landscape.

Source: https://coinpaper.com/5397/coti-launches-l2-testnet-with-support-from-my-ether-wallet-and-an-chain

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