COTI, a popular privacy layer, has announced its exclusive mainnet launch.
As per COTI, the mainnet launch in the form of a scalable L2 targets to facilitate confidential transfers. The initiative offers a privacy-on-demand service to meet the requirements of individual users and enterprises.
COTI’s Mainnet Release Prioritizes Privacy Enhancement in Web3 Sector
COTI’s L2 mainnet launch reportedly addresses the challenges concerning privacy in the Web3 landscape. The high-speed L2 solution of COTI utilizes Garbled Circuits, an advanced cryptographic protocol established in partnership with Soda Labs. This endeavor permits Web3 apps to deliver unparalleled speeds of nearly 3,000 times faster as compared with existing solutions.
The COTI mainnet focuses on filling the gap between regulatory compliance and privacy. It underscores a noteworthy move to drive mainstream adoption. Several institutions have been showing reluctance to engage with blockchain-based ecosystems like Real World Assets because of privacy concerns. The new L2 infrastructure of COTI enables businesses to securely organize proprietary data parallel to letting individuals leverage Web3 services.
Platform Also Launches Digital Shakel Pilot as CBDC Project in Partnership with Bank of Israel
Apart from that, the privacy layer of COTI has gained substantial traction among the ecosystem partners. In this respect, the key partners including PriveX, MyEtherWallet, Band Protocol, and Carbon DeFi protocol of Bancor are already integrating this privacy layer.
The project is additionally expanding the influence thereof into the Central Bank Digital Currency (CBDC) endeavors. A prominent example in this respect is the Digital Shekel pilot project in collaboration with the Bank of Israel.
According to COTI, it is also planning an airdrop comprising one hundred $COTI tokens for numerous wallets. Consumers incorporating the L2 of COTI with MetaMask will get the rewards in this airdrop. Moreover, the mainnet launch takes into account a unique Explorer and Bridge option for streamlined migration from the 1st to 2nd version of COTI.