COTI has just launched an exciting new tool that makes data protection better and easier for all kinds of users. Known as a “cross-chain privacy protocol,” this tool helps secure information across multiple blockchain networks, so it’s perfect for companies and apps that need to protect their data. This new protocol even works with both EVM and non-EVM chains, which means it can connect across many different blockchain systems.
So, what makes this new privacy tool special? It’s powered by Garbled Circuits technology, which COTI, a leader in Web3 privacy, developed with Soda Labs. The advanced technology lets developers add strong privacy features to their systems without changing their setup. In other words, there is no need to start from scratch, the only thing developers have to do is plug in the Fintech Platform’s tool and keep everything else the same.
The Tel Aviv-based platform’s new protocol is also a big step forward for Web3. This tool is the first of its kind to meet the high performance needs of apps people use every day. With it, different blockchain networks can add privacy features right into their existing systems, which is a huge win for anyone who values data protection.
Earlier this month, COTI proved its new tool works by completing its first cross-chain transaction using a platform called Axelar. Soon, they plan to expand even further with Axelar’s Amplifier technology, which will let their privacy tool work across 71 networks. This kind of expansion helps make using blockchains simpler and safer for everyone.
One of the biggest issues COTI’s new protocol solves is the challenge between transparency and privacy. Public blockchains are usually very open, which is great for trust but not so good for privacy. Businesses need to keep certain things private and meet certain privacy laws, and COTI’s new tool does just that. With “programmable privacy,” businesses can decide when and where they need privacy, making it a better fit for companies.
COTI’s new tool will likely help more people and businesses get into Web3 because they trust that their data is safe. What’s more, this new tool lets them conduct private transactions and safeguard data, which can be super useful for all kinds of projects from finance to identity solutions.
The new protocol from COTI is set to make a big impact in the world of Web3 by allowing developers and businesses to work with blockchain safely. More importantly, it shows how COTI is a leader in privacy solutions, helping more people feel secure about using blockchain technology. COTI’s dedication to privacy makes it a key player in the future of Web3.
Companies like Horizon Fintex that see Web3 as a useful advancement will most likely welcome every effort made to improve security and privacy on the different blockchains that help solve real world challenges.
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