Prominent blockchain project COTI has made news with its upcoming COTI V2 developer program. The program is geared towards introducing advanced privacy and security advancements to blockchain technology for the first time. The move marks a significant improvement in the blockchain industry, as this will likely promote increased use cases that were formerly thought impossible.
The COTI V2 developer network’s launch corresponds with a new program in the form of grants, which allows developers to experiment and build on the technology and get rewarded for doing so.
In order to super-charge growth, inspire developers to innovate with new use cases, and explore the full range of opportunities that can be provided by a privacy-centric Web3 ecosystem, the COTI Foundation has earmarked a total of 400M COTI tokens from the existing supply for a grant program.
Commenting on this new development, Shahaf Bar-Geffen, COTI CEO 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 launches ABC Growth Fund
In order to drive rapid growth of ecosystems, COTI has launched the (A)mbassadors, (B)uilders and (C)reators – ABC Growth Fund, which offers grants for ambassadors, builders and creators in the form of 400 million COTI tokens equal in value to around forty million US dollars at the time of writing. The Builders programme incentivizes developers specifically to discover COTI V2’s privacy-preserving potential.
The size of grants can range from $1k to $100K, depending on project objectives and potential impact. Interested developers can consider applying with proofs-of-concept (POC) for such areas as confidential DeFi, encrypted transactions, secure data management, privacy-enabled AI/ML, decentralized identity solutions etc using COTI V2.
In addition to this, COTI has provided teams with all the tools they need to start working, like SDKs written in Node.js and Python, special access to servers, detailed documentation, testnets, faucets as well as a blockchain explorer.
Conclusion
The debut of this product signifies a significant landmark for privacy and security on the blockchain. Though initial driving forces for this technology include increasing accountability and transparency, new requirements have arisen concerning personal data protection, intellectual property rights and strategic information confidentiality.
These will enable COTI’s solution to allow all parties involved in multiparty computation verify the results but encrypting all individual inputs plus interim results. This is a new development that allows unprecedented verifiable privacy in rich Web3 applications.
