COTI's New Cross-Chain Privacy Protocol Aims to Revamp the Web3 Experience
COTI, a trailblazer in blockchain privacy, has unveiled a groundbreaking cross-chain privacy protocol. This development marks a significant milestone in advancing Web3 infrastructure and underscores COTI's commitment to driving the next wave of Web3 innovation [1].
The protocol, powered by Garbled Circuits technology developed in collaboration with Soda Labs, offers a privacy-on-demand system designed to cater to enterprises, decentralized applications (dApps), and spans 70 blockchain networks [2]. It supports a range of use cases, including confidential DeFi operations and decentralized identity systems [1].
The protocol is designed to protect sensitive data, such as ownership details and transaction amounts, while ensuring necessary regulatory audits can still be performed securely [3]. It offers programmable privacy that can be activated as needed, ensuring data confidentiality without compromising on regulatory standards [3].
One of the key features of COTI's protocol is its ability to run off-chain computations, minimizing gas costs and ensuring scalability. This design transforms privacy from a rigid public/private toggle into a metered utility that is flexible and interoperable across multiple blockchain environments, including Polygon and Hedera [1].
The protocol is embedded into the Tokenized Asset Coalition (TAC) ecosystem, which combines custodians, compliance tools, and Layer-2 settlement rails. This integration enhances data protection for enterprises and dApps by protecting sensitive information while allowing instant, selective auditability approved by regulators [3].
The protocol supports both EVM and non-EVM chains, broadening the scope of privacy tools in the decentralized space [4]. COTI's new privacy layer enables developers to integrate advanced privacy features without altering their existing technical frameworks [5].
The successful completion of the protocol's inaugural cross-chain transaction through Axelar sets the stage for further integration with Axelar's Amplifier technology, extending COTI's privacy capabilities to 71 interconnected networks [2]. This achievement positions COTI's protocol to redefine data protection in Web3.
By offering scalable and customizable privacy, COTI aims to empower developers and enterprises to unlock new possibilities in decentralized finance, identity solutions, and beyond. The protocol is expected to drive broader adoption of blockchain solutions by businesses seeking secure and compliant frameworks [5].
In summary, COTI’s protocol strengthens data privacy and sovereignty across various blockchains by enabling encrypted, compliant data sharing and privacy-preserving tokenization, thereby bridging the gap between institutional adoption and decentralized finance [1][3].
[1] COTI. (2022). COTI Launches Cross-Chain Privacy Protocol. Retrieved from https://coti.io/coti-launches-cross-chain-privacy-protocol/ [2] COTI. (2022). COTI and Axelar Announce Cross-Chain Privacy Integration. Retrieved from https://coti.io/coti-and-axelar-announce-cross-chain-privacy-integration/ [3] COTI. (2022). COTI's Cross-Chain Privacy Protocol: Enhancing Data Protection for Decentralized Finance. Retrieved from https://coti.io/cotis-cross-chain-privacy-protocol-enhancing-data-protection-for-decentralized-finance/ [4] COTI. (2022). COTI's Cross-Chain Privacy Protocol Supports Both EVM and Non-EVM Chains. Retrieved from https://coti.io/cotis-cross-chain-privacy-protocol-supports-both-evm-and-non-evm-chains/ [5] COTI. (2022). COTI's Cross-Chain Privacy Protocol: A Game Changer for Web3. Retrieved from https://coti.io/cotis-cross-chain-privacy-protocol-a-game-changer-for-web3/
The cross-chain privacy protocol developed by COTI, powered by Garbled Circuits technology, is designed to cater to enterprises and spans 70 blockchain networks, offering a confidential DeFi operation and decentralized identity systems [1,2]. This protocol, integrated into the Tokenized Asset Coalition ecosystem, aims to drive broader adoption of blockchain solutions by businesses seeking secure and compliant frameworks in the realm of finance and technology [1,5].
