blockchainreporter.net
COTI announced a grants program with up to $500,000 in funding focused on privacy-oriented Layer 2 solutions. The team runs a program with Gitcoin to fund solo developers and teams to build dApps and tools that utilize COTI’s privacy-focused features. In this way, the project aims to develop diverse privacy solutions within COTI’s network, thus improving its value proposition.
COTI Incentivizing Privacy Tools and dApps
The grant program’s introduction comes as COTI’s Layer 2 network, known for its privacy features, allows developers to build diverse applications. COTI’s core technology, Garbled Circuits, lies at the heart of this initiative. It will enable verifiable data sharing without revealing sensitive information, offering a faster and lighter alternative to zero-knowledge proofs.
By providing financial incentives through the grant program, COTI hopes to spur the development of dApps that utilize Garbled Circuits, from AI to healthcare applications. One of the main draws of COTI’s privacy technology is its performance. Benchmark tests reveal that Garbled Circuits can perform up to 1000 times faster than traditional methods like zero-knowledge proofs.
This high efficiency reduces computational costs while maintaining privacy, making it suitable for large datasets such as AI model training and healthcare data management. The grant program will provide developers with their first opportunity to work with this technology and potentially unlock new privacy-focused use cases.
Gitcoin Partnership for Grant Distribution
Gitcoin’s proven track record in managing grant programs makes it an ideal partner for COTI. Over the past five years, Gitcoin has distributed over $60 million in grants across thousands of web3 projects, ensuring it can attract top-tier developer talent. The program’s integration with Gitcoin gives COTI access to a ready-made developer community, streamlining the application process and helping accelerate the network’s growth.