Coti Enterprise Blockchain Platform Preparing to transform the protocol into a privacy-focused and scalable Layer 2 on Ethereum in 2024.
Coti will transition from a standalone protocol to Ethereum Layer 2 to bring privacy features to the wider ecosystem. Coti v2 will provide the method. A cryptographic solution called “Garbled Circuits” allows transactions to be processed without revealing sensitive information.
Coti CEO Shahaf Bar-Geffen explains how the protocol can prevent the release of sensitive information to competitors, partners, and customers transacting on its network:
“Sensitive information sent as public information on the blockchain is flawed. not a feature And this is not acceptable in traditional business systems. So why does it have to be accepted on-chain?”
Bar-Geffen adds that the non-readable protocol offers a unique approach in the context of Coti v2, enabling transactions and smart contract execution where the details remain private between the parties involved:
“This level of privacy is critical in decentralized finance applications. The confidentiality of transactions can be as important as the integrity of transactions.”
The CEO said Coti will focus on powering enterprise functions on the blockchain network with absolute privacy at its core.
refer : cointelegraph.com
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