coincodex.com
Key highlights:
- COTI announces cross-chain privacy functionality following a successful proof of concept, covering 70 blockchain networks.
- The new protocol allows developers to enable or disable privacy directly from their native chains without altering their existing tech stack.
- The solution uses Garbled Circuits technology developed with Soda Labs, meeting the demands of enterprise-scale Web3 applications.
A step forward for blockchain privacy
COTI, recognized as a pioneering Web3 privacy layer, has launched a cross-chain privacy protocol designed to deliver customizable, scalable privacy solutions to a broad range of users, including enterprises and decentralized applications (dApps). This new offering extends across 70 blockchain networks, providing a significant expansion of confidentiality tools for EVM and non-EVM chains alike.
The announcement follows COTI’s successful proof of concept and marks an important development for Web3 infrastructure. With this launch, developers can now incorporate COTI’s advanced privacy features without modifying their existing technical frameworks. This on-demand privacy layer, bolstered by Garbled Circuits technology and developed in partnership with Soda Labs, ensures robust data protection tailored to the varied requirements of decentralized applications.
COTI CEO Shahaf Bar Geffen expressed enthusiasm for the milestone, noting: “This breakthrough represents a pivotal moment for web3 privacy. COTI is the only privacy solution currently capable of meeting the performance needs of consumer applications and we’re excited that multiple chains and builder communities will now be able to harness COTI’s privacy features from their native chains.”
Cross-chain privacy and regulatory needs
Earlier in the month, COTI demonstrated its protocol's viability by completing its first cross-chain transaction via Axelar, paving the way for full integration with Axelar’s Amplifier technology. This step will extend COTI’s privacy capabilities to 71 connected networks, allowing a seamless privacy experience across different blockchains.
The protocol addresses a persistent challenge in the adoption of decentralized technologies: balancing transparency with privacy to comply with regulatory requirements. Many businesses have faced limitations in integrating blockchain solutions due to public ledgers lacking inherent privacy. COTI’s cross-chain protocol seeks to resolve this issue by offering programmable, on-demand privacy.
The bottom line
With its innovative privacy layer, COTI is poised to redefine data protection standards within the blockchain space. This development not only enhances blockchain utility for enterprises but also opens new doors for confidential DeFi transactions, decentralized identity solutions, and other cutting-edge Web3 use cases.