COTI Completes Integration of Privacy-Centric Protocol for Ethereum-Based Network
Enterprise-grade fintech platform COTI has reached a significant milestone in the development of its Ethereum-based layer-2 network. The company has successfully integrated the Multi-Party Computation (MPC) protocol, which ensures privacy and confidentiality during computations.
MPC Protocol Enhances Data Confidentiality
The MPC protocol allows multiple parties to collectively perform computations on their private inputs without revealing them to each other. This protects the confidentiality of participants’ data throughout the process. The protocol involves encrypted data contributions from all parties, which are processed by a designated black box to generate a shared result.
Advancements in Blockchain Technology
COTI considers the integration of MPC endpoints into the Extended-EVM architecture as a significant advancement in blockchain technology. This innovation enhances security and privacy for complex computations, paving the way for more sophisticated and privacy-preserving blockchain applications.
Garbled Circuits for Efficient Privacy Protection
Once the workload is submitted to the MPC module, participants collectively generate Garbled Circuits, a cryptographic primitive that offers robust privacy protection. COTI claims that these circuits are more efficient than the Zero-Knowledge protocol used by other layer-2 networks on Ethereum. The circuits are deleted after each execution to ensure forward and backward secrecy.
COTI Token Surges 81% in a Week
Alongside its development milestones, COTI’s native token has experienced significant growth. The token has risen by over 81% in the past week and is currently trading at $0.10.
Hot Take: COTI Enhances Privacy and Security with MPC Integration
COTI’s successful integration of the Multi-Party Computation (MPC) protocol is a significant step towards enhancing privacy and security in blockchain technology. By allowing parties to perform computations on private inputs without disclosing them, COTI ensures the confidentiality of participants’ data. This architectural innovation opens doors for more advanced and privacy-preserving blockchain applications. Furthermore, COTI’s native token has seen impressive growth recently, reflecting the market’s recognition of the platform’s progress and potential.
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