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Saturday, June 15, 2024

COTI V2 Developer Network Goes Live, Unveils Privacy-Centric Possibilities

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Web3 infrastructure development firm COTI has unveiled a developer network ahead of its upcoming launch of the privacy-centric Ethereum-based layer-2 network COTI V2.

According to a press release sent to CryptoPotato, the COTI V2 developer network has gone live, introducing a novel layer of confidentiality and advanced garbled protocols to the blockchain.

COTI V2 Devnet Goes Live

The developer network will enable market participants to explore several web3 use cases, including confidential decentralized finance (DeFi), on-chain sensitive data management, confidential machine learning and artificial intelligence, Dynamic Decentralized Identification, and confidential transactions for payments, stablecoins, and real-world assets.

The COTI V2 devnet provides several tools for development teams, including a Python SDK, a faucet to cover gas for on-chain activity, a NodeJS SDK, server access, extensive documentation, and an explorer for on-chain analytics.

COTI designed the network to enable experimentation with new smart contracts using COTI V2. The web3 infrastructure development company claims developers can use the network to build one of the best techniques within multi-party computation for securing private information.

COTI Unveils $52M Grant Program For Devs

To spur developers to build on the devnet, the COTI Foundation has unveiled a new grant program to reward builders for their contribution. The foundation has set aside 400 million COTI, worth roughly $52 million at current prices, from the token’s existing supply as it looks to incentivize groups to explore new use cases and the range of opportunities a privacy-centric web3 ecosystem can provide.

The COTI foundation dubbed the grant the ABC Growth Fund for ambassadors, builders, and creators on the devnet. The program seeks applications from innovative builders, developers, and researchers interested in testing the limits of the COTI ecosystem’s capacity.

COTI CEO Shahaf Bar-Geffen said: “We’re opening our doors to the world with the COTI V2 Developer Network, and with our Builders program, we’re inviting teams around the world to take part in COTI V2’s developer network and share what you’re building. We have an incredible year ahead of building new things, making new partners, and growing COTI’s network.”

COTI is commencing the builders program of the ABC Growth Fund, which has a four-tiered structure in order to have an ascending impact on the ecosystem. Developers interested in the program are required to submit their applications to create proofs of concept (POCs) for privacy-preserving smart contracts, tools, and products.

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