The crypto confidentiality network COTI introduces new Layer-2 testnet months after its Devnet launch to start the third phase of its roadmap.
The official launch of the developer network on the testnet of the cryptocurrency confidentiality protocol COTI has garnered support from a variety of projects in the industry, including the artificial intelligence (AI) and decentralized finance (DeFi) ecosystems.
MyEtherWallet (MEW), L2BEAT, Soda Labs, and Poolz Finance are among the notable partners who have pledged their support for the testnet, as a press release indicates. Additionally, it is anticipated that these partners will assist with the mainnet launch, which is scheduled for 2025.
A network that prioritizes privacy Powered by Garbled Circuits
COTI’s privacy-centric network is constructed on the Ethereum blockchain and capitalizes on its smart contract capabilities to establish its own native Layer-2 (L2). This network, powered by the innovative cryptographic protocol Garbled Circuits, is designed to offer developers a secure environment to develop decentralized applications (dApps) while protecting sensitive data.
COTI’s platform launch was initially introduced on Devnet in May 2024 and was accompanied by a privacy-centric growth fund to incentivize developers. This initiative offers financial assistance, resources, and toolkits to help developers develop dApps on the platform.
COTI Unlocks the Third Phase of the Roadmap
COTI’s L2 network has now entered the third phase of its roadmap with the release of the testnet, nearly four months after its Devnet launch. The response from developers has been overwhelmingly positive, according to Shahaf Bar-Geffen, CEO of COTI.
“The response to our testnet launch has been phenomenal, with projects and developers from various sectors across web3 joining our community to construct a private blockchain future,” stated Bar-Geffen.
Developers will have the opportunity to investigate the platform’s innovative privacy features and the underlying technology based on Garbled Circuits during the testnet phase. The technology was developed in collaboration with Soda Labs to enable third parties to jointly compute functions over private inputs without exposing those inputs, according to COTI.
A Testnet SDK that Provides Assistance to Developers
COTI has implemented various tools, such as a testnet explorer and a faucet, to encourage developers to construct the network. These tools are designed to facilitate experimentation with the scalable L2 protocol.
In addition, the network has implemented a testnet SDK, enabling developers to integrate COTI’s innovative features into their applications.
In addition to the testnet launch, COTI has stated that it has released “benchmarking results” to substantiate its privacy claims of being more lightweight and faster than current privacy solutions.
“COTI has released benchmarking results to coincide with the launch of its testnet, which substantiate its assertion that it is significantly faster and lighter than existing privacy solutions,” the company announced.