A Low-Cap Altcoin Soars 40% in 24 Hours After Upgrading to Privacy-Focused Ethereum Layer-2
A small-cap altcoin has experienced a surge of 40% as it transitions to a privacy-centric Ethereum layer-2 (L2) blockchain. The team behind the decentralized payments platform Coti (COTI) recently announced that they have successfully upgraded their project to become an L2 solution for Ethereum.
The upgrade involved the implementation of the Multi-Party Computation (MPC) protocol, a revolutionary cryptographic field that allows parties to collaboratively perform computations on their private inputs without revealing them to each other. This ensures the confidentiality of participants’ data throughout the computation phase.
Following the news of the upgrade, COTI’s price skyrocketed from $0.0597 on February 5th to a peak of $0.1067 on February 9th, marking a gain of over 78%. Currently, COTI is trading at $0.0999, reflecting a 40% increase in the last 24 hours.
Mainnet Launch Scheduled for Q4 2024
COTI plans to launch its mainnet during the fourth quarter of 2024. The upgrade was initially announced in December and was described as being faster and lighter than zero-knowledge (ZK) solutions, which reveal knowledge about specific data without disclosing the information itself.
This significant infrastructure upgrade represents COTI’s commitment to building an Ethereum L2 solution that offers improved speed and efficiency compared to existing privacy-focused solutions.
By
By
By
By