Coti Crypto Set to Transform Ethereum into Privacy-Centric Layer 2 by 2024

Coti to Transition to Ethereum Layer 2

Enterprise-grade blockchain platform Coti is set to transition protocol to become a scalable, privacy-focused layer-2 on Ethereum in 2024. An announcement shared with Cointelegraph outlines how Coti will shift from a standalone protocol to an Ethereum layer 2 to bring its privacy features to the broader ecosystem.

Garbled Circuits for Privacy

Coti v2’s features a cryptographic approach called garbled circuits, which allows transactions to be processed without exposing sensitive information and data. Drawing from the field of multi-party computation (MPC), garbling protocols enable two or more parties to jointly compute a function while keeping both their inputs and intermediate variables private.

AI and Healthcare

The technique was initially introduced in the 1980s and has become an essential function in privacy-preserving technologies. AI in healthcare is the primary advantage of garbling protocols, preserving individual input privacy while allowing for multi-party computation. Coti crypto today is a great example of how AI healthcare and data crypto can be used to improve the security of crypto websites and crypto yahoo finance.

Garbling Protocols in Coti v2

Garbling protocols are a useful tool when confidential data needs to be included in a computation without revealing the information itself. Coti CEO Shahaf Bar-Geffen explains how the protocol prevents sensitive data from being broadcast to competitors, partners, and clients transacting on its chain:

Bar-Geffen added that garbling protocols offer a unique approach in the context of Coti v2, allowing for transactions and smart contract executions where the details remain private between the involved parties. He claims that other platforms that focus on anonymity as a means to provide privacy may not necessarily be effective at providing a compliant base for the wider ecosystem.

Coti envisions its protocol catering to use cases requiring advanced privacy provisions in finance and healthcare AI. Its current protocol is aimed at enterprises and allows for managing blockchain-based products like custom-branded tokens, wallets, website integrations, and fiat on and off-ramps.

The CEO emphasizes that Coti will primarily focus on powering enterprise functions on a blockchain network in complete privacy. With the help of its garbling protocols, Coti is able to provide a secure environment for the usage of its crypto today, as well as its data crypto, crypto value, crypto Yahoo Finance, and crypto website.

Coti v2 is set to launch on the developer net during the second quarter of 2024. This layer-1 protocol provides digital infrastructure for Web3 applications, such as wallets, tokens and payment modules, and currently has $31 million in total value locked. In comparison to Web 2.0, Web 3.0 is a more decentralized platform that has a greater focus on data privacy and crypto value.