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Etherium

COTI unveils V2 Whitepaper for enhanced Ethereum confidentiality

By: bigbull

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  • COTI Network launches V2 whitepaper for Ethereum, enhancing privacy.
  • The V2 whitepaper reveals innovative features including the garbling protocol and gcEVM for secure transactions.
  • Despite this major development the COTI token has declined by 7%.

COTI Network, a leading Layer-2 scaling protocol Ethereum has launched its highly anticipated V2 whitepaper, which aims to revolutionize privacy within the Web3 ecosystem.

The move underscores COTI’s commitment to addressing privacy concerns and promoting innovation in blockchain technology.

Increasing Privacy on Ethereum

V2 whitepaper unveiled This signals an important step towards increasing privacy on the Ethereum blockchain. It offers unprecedented features designed to optimize performance while protecting user privacy.

A key innovation highlighted in the whitepaper is the implementation of the Garbling Protocol, which provides significant improvements in computation speed, storage efficiency, and latency compared to existing solutions. This protocol is set to revolutionize blockchain encryption, offering 1000 times faster computation and 250 times smaller storage requirements.

Additionally, COTI is introducing gcEVM, an innovative extension of the Ethereum Virtual Machine (EVM) developed by Soda Labs. This extension reinforces blockchain transactions with privacy, ensuring secure calculations on encrypted data. By integrating GCEVM, COTI aims to preserve data privacy while maintaining efficient functionality within the Ethereum ecosystem.

Solving Privacy Challenges in Web3

COTI’s focus on privacy comes at a critical juncture for Web3, where data sharing and user empowerment are central themes. As the Web3.0 ecosystem evolves, striking a balance between individual privacy and blockchain transparency becomes increasingly complex.

The launch of the V2 whitepaper underlines COTI’s commitment to tackling these challenges. By prioritizing privacy as a core human right, COTI aims to equip the Web3 ecosystem with the necessary tools to protect user privacy while promoting innovation and adoption.

COTI token price reaction

Despite the unprecedented progress outlined in the V2 whitepaper, the value of the COTI token has declined by 7% amid broader market volatility, currently trading at $0.1643.

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