COTI Launches $25M Fund to Fuel Privacy Revolution on Ethereum L2
Sentiment: Positive
In a groundbreaking move, COTI, the blockchain platform renowned for its emphasis on privacy and interoperability, is set to revolutionize the Ethereum Layer 2 space with the launch of a substantial $25 million Ecosystem Growth Fund.
This strategic investment underscores COTI's unwavering commitment to nurturing a dynamic ecosystem surrounding its forthcoming Layer 2 solution, which leverages cutting-edge garbled circuits technology.
CEO Shahaf Bar-Geffen Commits to Evolution
Shahaf Bar-Geffen, the CEO of COTI, expresses the significance of the initiative, stating,
"The COTI Ecosystem Growth Fund represents a monumental step forward in COTI's evolution. By actively supporting developers and startups in crafting impactful solutions within the ecosystem, we're paving the way for widespread adoption of COTI V2 and unlocking the true potential of secure, confidential transactions."
The fund's primary objective is ambitious – to expedite the development and adoption of COTI V2. To achieve this, COTI is actively scouting for talented developers and innovative startups eager to contribute to the burgeoning ecosystem.
Strategic Partnership with Soda Labs
Demonstrating swift action, COTI has already secured a strategic partnership with Soda Labs, a prominent player in cryptographic Multi-Party Computation (MPC). Soda Labs is poised to lead research endeavors aimed at expanding practical applications of garbling protocols, ensuring a robust and scalable privacy network for COTI users.
Dr. Avishay Yanai, co-founder of Soda Labs, expresses enthusiasm about the collaboration, stating,
"We're thrilled to collaborate with COTI in building the next generation of Web3 privacy tools. With the COTI Foundation's support, we can advance garbled circuits technology and empower COTI V2 with unparalleled levels of security and confidentiality."
Future Initiatives and Opportunities
Soda Labs marks the commencement of a series of collaborations fueled by the COTI Ecosystem Growth Fund. In the pipeline are exciting announcements, including strategic partnerships, developer grants, and milestone-based funding opportunities. This comprehensive strategy aims to foster a thriving COTI V2 ecosystem, driving adoption and solidifying COTI's standing as a trailblazer in privacy-centric blockchain solutions.
About the Author
Ex-crypto miner and crypto enthusiast since 2019.
