- COTI’s Layer 2 testnet guarantees more privacy for DeFi, AI, and NFTs.
- MyEtherWallet and AnChain are among the partners that provide scalable, confidential transactions.
COTI has officially launched its Layer 2 (L2) testnet, which represents a significant improvement in blockchain privacy. This development is supported by well-known ecosystem partners such as MyEtherWallet (MEW) and blockchain security firm AnChain. The testnet seeks to offer scalable and cost-effective privacy solutions for a variety of blockchain sectors, including decentralized finance (DeFi), artificial intelligence (AI), security and compliance, non-fungible tokens (NFTs), and real-world asset (RWA) tokenization.
COTI’s Layer 2 solution makes use of its novel Garbled Circuits technology, which allows for the secure computation of private inputs while maintaining sensitive data confidentiality. This cutting-edge strategy has attracted the attention of prominent figures in the blockchain field, as evidenced by the numerous partnerships that are supporting the testnet launch.
Developer Tools and Opportunities
The launch of COTI’s Layer 2 testnet provides developers with critical tools for incorporating privacy features into their decentralized applications. The testnet has a dedicated explorer, SDK support, and access to a testnet faucet, making it easier for developers to test and deploy confidential transactions at scale.
COTI’s CEO, Shahaf Bar-Geffen, and MEW creator, Kosala Hemachandra, are both optimistic about the testnet’s ability to spur innovation and build a more private, secure blockchain ecosystem. As COTI continues to investigate quantum-resistant privacy and data sovereignty, the testnet establishes itself as a key participant in improving privacy-enabled blockchain applications.
COTI’s Garbled Circuits technology promotes the network as a leading option for blockchain privacy, providing a faster and lighter alternative to current approaches. This finding opens up new possibilities for confidential DeFi transactions, quantum-resistant privacy, and safe data sovereignty, while also addressing cost hurdles previously faced by blockchain-based applications.
Kosala Hemachandra, CEO of MyEtherWallet, expressed anticipation for the relationship, stating “We are excited to work together to provide COTI with open-source, privacy-centric products.”
The COTI Layer 2 testnet launch marks a watershed moment in blockchain privacy, paving the way for scalable, secret transactions across a variety of decentralized applications while also revolutionizing crucial sectors such as DeFi and NFTs.
