Ethereum

Cardano

Aleph Zero

COTI

Foundation

<h4>Other than ADA, perhaps Cardano’s flagship token was COTI.&nbsp;At least it was. What about now? </h4> 
COTI has some huge new upgrades going on and due to its token, COTI is up 335% in the last 30 days. But is Cardano being left behind for bigger markets with more liquidity? Let’s see what’s new with COTI and will this pump continue? 
<h5>COTI Recap</h5> 
We’ve covered COTI before although it’s been a while in this <a href="https://www.youtube.com/watch?v=cAR3kJMOr9c" target="_blank" rel="noopener">video</a>. COTI stands for Currency of the Internet. So being about currencies, payments, and stablecoins is not exactly a big surprise. COTI is an app chain. It’s built with fintech and payments in mind. That’s why they have not just DJED but the infrastructure for anyone to build out a payment solution. 
You absolutely will see more of this in the future. <a href="https://coti.io/" target="_blank" rel="noopener">COTI</a> is built with enterprises (esp Web 2 ones) in mind so they can easily move into Web3 and accept payments online or offline, on-chain or by credit card. By whatever means customers want. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 We’re happy to announce our upcoming Devnet and key target use cases for the growth fund! 
 The Devnet and upcoming grant program empower developers to experiment and build with COTI V2, fostering the growth of the COTI ecosystem. 
 Read all about it: <a href="https://t.co/NQepcfQoLy">https://t.co/NQepcfQoLy</a><a href="https://twitter.com/search?q=%24COTI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$COTI</a> <a href="https://t.co/A8eN7z6oIh">pic.twitter.com/A8eN7z6oIh</a> 
 — COTI Foundation (@COTInetwork) <a href="https://twitter.com/COTInetwork/status/1762840854882869322?ref_src=twsrc%5Etfw">February 28, 2024</a>
</blockquote> 
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We are seeing the huge effect of financial appchains now with Sei and Injective just to name two. That said, one of COTI’s signature projects, the <a href="https://www.coingecko.com/en/coins/djed" target="_blank" rel="noopener">DJED stablecoin</a>, has not done very much. Yes, it is maintaining its peg to the US Dollar ok but on VERY low volumes. There’s only $4 million circulating and volume below $75,000 in the last 24 hours. 
That means there just isn’t much interest in it. And we know 2 things: 
<ol> 
 <li style="font-weight: 400;" aria-level="1">Stablecoins can get huge:&nbsp;See USDT and USDC as examples. DAI too. AND</li> 
 <li style="font-weight: 400;" aria-level="1">Cardano’s community is big and loyal: So you would think they would be buying and holding a lot of it to support the project.</li> 
</ol> 
Yet, that’s not happening. But it’s not all or even mostly bad news for COTI. The Cardano ecosystem has been struggling a little bit recently. And <a href="https://www.coingecko.com/en/coins/coti" target="_blank" rel="noopener">COTI</a> does not seem immune to that in general. Again, see DJED adoption. But something else is going on too. 
The $COTI token is doing awesome. After spending most of the last year between 5c and 10c, in recent weeks, there’s been a huge spike up to 24c. A more than 2x in less than a week. We’re going to talk about why that is in a second. 
<h6>Privacy</h6> 
Before we get into the big innovation, one of the reasons why COTI is getting lots of interest is privacy. The COTI team is smart. They know that online digital payments through crypto are the answer. It’s the best use case for the industry so far (other than Bitcoin). 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Introducing COTI V2: a Privacy-Centric Ethereum L2 
 In the biggest upgrade of our infrastructure to date, we're building an Ethereum L2 and using a new technology that’s 10x faster + lighter than ZK solutions. 
 Details on how to get involved at the end of the thread<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> [1/13] <a href="https://t.co/jqYYYKKsxD">pic.twitter.com/jqYYYKKsxD</a> 
 — COTI Foundation (@COTInetwork) <a href="https://twitter.com/COTInetwork/status/1734952364782616650?ref_src=twsrc%5Etfw">December 13, 2023</a>
</blockquote> 
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But the team also knows, just like you and I do, that every transaction is public on the ledger. On-chain. As big and loyal as the Cardano community is, COTI knows that to grow, they need more than what Cardano’s community alone offers. So they’ve developed a private ETH L2 solution. It’s EVM-compatible and scalable, and you can issue smart contracts on it. Again, great for payments. 
They are using an MPC technology. That’s multi-party computation. When 2 or more parties get part of the data to compute it’s broken into pieces so no one server, node, or other source, has all the data together. Secret Network and Aleph Zero are among the protocols that use MPC. MPC is also common in multi-signature wallets for added security, too. 
COTI believes that this privacy piece is the last piece of the puzzle to reach huge adoption now that every transaction you make will no longer be public. Do you have a favorite privacy project? Let us know in the comments below. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Everything that made COTI V1 great comes with us: global tier1 listings, private payment networks, Treasury, tokens and more. As an EVM-compatible L2, COTI V2 will provide a developer-friendly ecosystem that is easy to build upon. 
 [2/13] <a href="https://t.co/xB0Dbb4kOc">pic.twitter.com/xB0Dbb4kOc</a> 
 — COTI Foundation (@COTInetwork) <a href="https://twitter.com/COTInetwork/status/1734952367823491473?ref_src=twsrc%5Etfw">December 13, 2023</a>
</blockquote> 
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<h5>Garbled Circuits</h5> 
The name of the cryptographic privacy tech COTI is using is garbled circuits. The COTI team is saying garbled circuits are 10x faster and make the chain 10x lighter than any ZK (zero knowledge) based privacy solution. 
That’s a pretty bold claim. All of this is part of <a href="https://youtu.be/Ut-B8O6wXLw?si=FnwwcExwwiJ6aR2P" target="_blank" rel="noopener">COTI v2</a>. V2 is everything in V1 along with the ETH layer 2 solution and privacy. As COTI CEO Shahaf Ben-Geffen says in the video you are watching here in the background, enterprises that are processing billions of dollars in payments don’t want their competitors to see what, who, and how much they are transacting. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 At the heart of COTI’s advanced privacy protection is a cryptographic technology known as Garbled Circuits. This research breakthrough will make COTI 10x faster <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4ab.png" alt="💫" class="wp-smiley" style="height: 1em; max-height: 1em;"> and 10x lighter<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fab6.png" alt="🪶" class="wp-smiley" style="height: 1em; max-height: 1em;">than existing ZK solutions. It opens up some amazing use cases. 
 [8/13] <a href="https://t.co/fjgcaXSTuD">pic.twitter.com/fjgcaXSTuD</a> 
 — COTI Foundation (@COTInetwork) <a href="https://twitter.com/COTInetwork/status/1734952383510204518?ref_src=twsrc%5Etfw">December 13, 2023</a>
</blockquote> 
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Remember, this brings us back to what I said earlier. COTI is a financial appchain. All about payments. And COTI knows it can’t get payment platforms like Mastercard on board if Visa, American Express, and any other payment network can see exactly what they are doing. 
Enterprises can’t join in without at least some level of privacy. I have to keep it 100 here. Although you know&nbsp; I do, always. I’d love to explain more about what makes garbled circuits different. How this version of MPC is better, lighter, and faster but just as secure as other forms of MPC. 
But I don’t know why. Thankfully, those of you interested in this technology will see a new whitepaper come out soon. It covers all the v2 upgrades including explaining garbled circuits in detail. 
Then lastly, what about Cardano? Is COTI abandoning it? The partnerships with Cardano are continuing. DJED is compatible with <a href="https://www.altcoinbuzz.io/?s=cardano" target="_blank" rel="noopener">Cardano</a>. The COTI team says work on Cardano will continue and it will grow. But it’s a pretty stinging admission from Shahaf in the video saying we have to build for enterprises and we have to do it as an L2 on Ethereum because that’s where the liquidity is. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Since our exciting demonstration of Garbled Circuits on the blockchain for the first time, major media publishers have covered the news. 
 Check out some of the most noteworthy coverage: <a href="https://t.co/BNzTtn4TrG">https://t.co/BNzTtn4TrG</a><a href="https://twitter.com/search?q=%24COTI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$COTI</a> <a href="https://twitter.com/ethereum?ref_src=twsrc%5Etfw">@ethereum</a> <a href="https://twitter.com/hashtag/COTIV2?src=hash&amp;ref_src=twsrc%5Etfw">#COTIV2</a> <a href="https://twitter.com/hashtag/Privacy?src=hash&amp;ref_src=twsrc%5Etfw">#Privacy</a> <a href="https://twitter.com/hashtag/GC?src=hash&amp;ref_src=twsrc%5Etfw">#GC</a> <a href="https://t.co/xBIqVSxyqa">pic.twitter.com/xBIqVSxyqa</a> 
 — COTI Foundation (@COTInetwork) <a href="https://twitter.com/COTInetwork/status/1760669870289793090?ref_src=twsrc%5Etfw">February 22, 2024</a>
</blockquote> 
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I mean he’s right. But that has to sting for the Cardano community. Do you hold COTI or any Cardano ecosystem tokens? Let us know in the comments. 
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The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/cotis-latest-crypto-updates-unveiled/">COTI’s Latest Crypto Updates Unveiled</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

COTI’s Latest Crypto Updates Unveiled

Altcoin Buzz

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