The post COTI Launches Layer 2 Testnet with Ecosystem Support from MyEtherWallet and AnChain appeared on BitcoinEthereumNews.com.

Key highlights: COTI has launched its Layer 2 testnet with ecosystem support from MyEtherWallet (MEW) and AnChain. The testnet allows developers to explore COTI’s Garbled Circuits technology for confidential blockchain transactions. COTI aims to deliver affordable, scalable privacy solutions for sectors like DeFi, AI, and NFTs. COTI’s Layer 2 testnet debuts with ecosystem support COTI is known for its efforts to bring privacy solutions to blockchain and they have launched its Layer 2 (L2) testnet with a range of ecosystem partners, including notable names like MyEtherWallet (MEW) and blockchain security firm AnChain. This marks a major step toward providing scalable, affordable privacy options for web3 developers, enabling a broad set of blockchain sectors such as decentralized finance (DeFi), artificial intelligence (AI), security and compliance, non-fungible tokens (NFTs), and real-world asset (RWA) tokenization. COTI’s privacy solution, powered by its unique Garbled Circuits technology, facilitates the secure computation of private inputs without revealing sensitive data. This breakthrough has caught the attention of key players in the blockchain space, further evidenced by the diverse partners backing the testnet launch. Tools for developers The launch opens doors for developers to experiment with COTI’s Layer 2 network, which offers a testnet explorer, SDK support, and access to a testnet faucet. These tools are designed to simplify the integration of COTI’s privacy features into decentralized applications, making it easier for projects to test confidential transactions at scale. “The response to our testnet launch has been astounding, with projects and developers from various sectors across web3 joining our community to build a private blockchain future.”—COTI CEO Shahaf Bar-Geffen Pioneering new encryption for blockchain COTI’s Garbled Circuits technology positions the network as a faster, more lightweight alternative to existing privacy solutions, unlocking potential applications in confidential DeFi, quantum-resistant privacy, and secure data sovereignty. This allows blockchain-based applications that previously faced cost barriers…

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Filed under: News - @ September 17, 2024 1:25 pm