Major Partner Reveal as MyEtherWallet (MEW), AnChain.AI and Others Join New Era of Fast, Scalable Blockchain Privacy
TL;DR
- COTI Testnet is now live with Garbled Circuits and MPC capabilities.
- Launch partners MyEtherWallet (MEW) and AnChain.ai, among others, to join COTI ecosystem.
- Benchmarking study reveals COTI GC technology runs faster and lighter than other privacy solutions available.
- New developer tools include Testnet explorer, faucet, and SDK support.
- Affordable, scalable privacy opens the door to innovation across DeFi, AI, Compliance, Identity, DePIN and more.
We’re thrilled to announce the launch of the COTI Testnet, signalling a major milestone for affordable and scalable privacy solutions in Web3. Our launch coincides with the reveal of a sizable cohort of launch partners, including MyEtherWallet (MEW), AI-powered cybersecurity firm AnChain, and more. The new partner cohort will join companies such as Civic, Xctuality and PriveX that are already exploring COTI’s privacy Layer 2.
These partnerships underscore the recognition of privacy as a critical component in the evolution of blockchain technology across a broad swathe of sectors including DeFi, AI, RWAs, gaming, and more.
Our journey to this point has been nothing short of exhilarating. Just four months ago, we launched the COTI Developer Network (DevNet), which marked the first time developers could experiment with the groundbreaking Garbled Circuits technology — developed in collaboration with Soda Labs — for use on the blockchain. Since then the response has been astounding, with projects and developers from a wide range of sectors across Web3 joining our builders community.
Introducing The COTI Testnet
COTI’s Testnet is now live, opening up a world of new possibilities for privacy-preserving blockchain applications. There’s never been a more exciting time to get involved! Our privacy-preserving Layer 2 offers groundbreaking features that set the stage for a new era of blockchain privacy — though it maintains a familiar and robust environment for developers wishing to test and building privacy-focused applications.
Let’s take a closer look at the key innovation powering our Testnet.
COTI’s Garbled Circuits
At the core of COTI’s privacy-preserving technology is a new implementation of Garbled Circuits (GC) that allows for secure multi-party computation (MPC), enabling parties to jointly compute functions over their private inputs without revealing those inputs to each other. This technology forms the backbone of COTI’s ability to process confidential transactions at scale.
Benchmarking Shows COTI Runs Faster and Lighter
Earlier today we revealed our first benchmarking study to substantiate our claims that COTI runs faster and lighter than existing privacy solutions. Other similar privacy solutions that offer MPC have struggled to gain widespread adoption due to large computation load and cost. Our study compares the performance of Garbled Circuits (GC) to the key privacy protocol known as Fully Homomorphic Encryption (FHE) with positive results.
COTI is more performant by a clear margin, in fact it’s faster than we thought, 1800–3000 times faster! COTI is setting new standards for blazingly fast confidential computation. By providing affordable and scalable privacy, we’re opening up possibilities for applications previously deemed impractical due to performance constraints.
Tools to Supercharge Your Development on COTI Testnet
At COTI, we believe that great technology is only as good as the tools available to harness it.
We’ve ensured seamless integration with your favorite Ethereum tools and infrastructure. This compatibility means you can leverage existing development skills while benefiting from COTI’s advanced privacy features. Both new and seasoned Ethereum developers will find a familiar environment to build privacy-preserving applications.
Here’s what you can expect from our new developer toolkit:
- Testnet Explorer: Easily track blocks and transactions
- Uptime Dashboard: Clearly track the liveliness of the testnet
- Testnet Faucet: Obtain testnet tokens to fuel your experiments
- Testnet SDK support: Seamlessly integrate COTI features into your apps with TypeScript and Python.
- COTI Developer Sandbox (DevNet only): A safe space to try out and learn about on-chain permission management and on-chain computation.
- COTI Remix Plugin (DevNet only): Streamline your smart contract development in Remix IDE.
Each of these tools has been carefully crafted to support different aspects of the development process, from initial experimentation to deployment and monitoring.
Start building on COTI Testnet Today!
Partners Unlocking New Privacy-Powered Use Cases with COTI
COTI’s privacy chain has attracted partnerships from a broad spectrum of sectors including DeFi, AI, Security and Compliance, NFTs, Real World Assets and more.
‘The response has been astounding’, said COTI CEO, Shahaf Bar-Geffen, ‘with projects and developers from various sectors across Web3 joining our community to build a private blockchain future.’
We’re not the only ones excited about the potential of COTI. Fourteen new partners have joined us including long-standing wallet solution My Ether Wallet (MEW), AI-powered cybersecurity firm AnChain.ai, leading decentralized web browser Carbon Browser, cross-chain infrastructure provider Dojima, Web3 gaming company UNKJD, Ethereum name service provider ZNS, as well as Kapa.ai, Staking Rewards, BizThon, L2Beat, Privacy Guardians, Poolz and finally Gitcoin and blockchain security auditor Hacken for support on grants.
Kosala Hemachandra, CEO and Founder of MyEtherWallet commented, ‘We are excited to collaborate together to bring COTI to user-friendly products that are open source and privacy-centric.’
We welcome all our new partners and look forward to exploring new privacy use cases and applications over the coming months, as well as revealing more details of our grants program.
The new partner cohort joins existing COTI ecosystem members: Civic, building Dynamic DID, Porta, exploring private smart wallets, Xctuality, enabling privacy in the phygital ecosystem, and PriveX, bringing privacy to DeFi perpetuals trading among others. We’re also building for Bank of Israel (BoI), the only blockchain network to be invited to participate in the BoI’s CBDC design challenge.
But that’s just the beginning. COTI’s breakthrough in scalable privacy opens doors to a wide range of use cases that were previously impractical or impossible to implement on public blockchains.
- Confidential DeFi: Create private AMMs, lending protocols, and trading platforms that protect user strategies and positions.
- CBDCs and stablecoins: Enable privacy-preserving central bank digital currencies that comply with regulatory requirements.
- Dynamic Decentralized Identity (DyDID): Build privacy-first identity verification and management solutions.
- Quantum-resistant privacy: Implement advanced cryptography designed to maintain privacy even in a post-quantum computing era.
The potential applications of COTI extend far beyond this list to cutting-edge fields such as confidential machine learning and on-chain sensitive data management. As more developers and enterprises explore the capabilities of our platform, we expect even more innovative solutions that push the boundaries of what’s possible in blockchain privacy.
We’re excited to see how the community will leverage COTI to address real-world challenges and create new opportunities in the onchain economy.
Join the Future of Web3 Privacy
The Testnet launch is a crucial step towards our mainnet deployment. In the coming weeks, we’ll be working closely with our community of developers and partner projects to refine and enhance the platform based on your feedback.
Developers, we invite you to dive in, explore the COTI Testnet, play with our new tools, and help shape the future of privacy-preserving blockchain technology. Your input is invaluable as we work towards creating a more private, secure, and efficient blockchain ecosystem.
The COTI Testnet launch is a massive technical milestone for us and the beginning of a new era in blockchain privacy. With your help, we’re unlocking new possibilities across multiple industries and use cases.
We can’t wait to see what you’ll build on COTI!
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
