TL;DR
- COTI has launched a developer network for its upcoming Ethereum-based layer 2 network focused on privacy.
- They have established a grant program of 400 million tokens (approximately $52 million) to incentivize developers to participate in the platform.
- The new network offers tools such as SDKs, faucets, and comprehensive documentation to facilitate the development of smart contracts and privacy-focused applications.
COTI, the web3 infrastructure development firm, has unveiled its developer network for the upcoming Ethereum-based layer 2 network, focused on privacy, known as V2. This new platform will be dedicated to transforming the management of sensitive data and confidential transactions on the blockchain.
The launch of the developer network introduces a new layer of confidentiality and advanced garbled protocols to the blockchain, allowing developers to explore a wide range of use cases in web3. These include confidential decentralized finance (DeFi), on-chain sensitive data management, machine learning and artificial intelligence, Dynamic Decentralized Identification, and confidential transactions for payments, stablecoins, and real-world assets.
COTI V2 Developer Network is live!
COTI V2 is solving scalable privacy on @ethereum, and today we invite developers to start building on our Developer NetworkThis includes a $50M Builders Program, with grants ranging from $1K to $100K
Build now: https://t.co/rIDhdxUlBl
1/8 🧵 pic.twitter.com/WMhywG3FL0
— COTI Foundation (@COTInetwork) May 21, 2024
To facilitate the work of development teams, COTI has made available a series of tools on its new network. A Python SDK, a faucet to cover gas costs for on-chain activities, a NodeJS SDK, server access, comprehensive documentation, and an explorer for on-chain analytics. These enhancements are designed to enable developers to experiment and build new smart contracts using V2, thus promoting the creation of advanced techniques in multi-party computation to secure private information.
In addition, the foundation has launched a grant program. They have reserved 400 million COTI tokens, equivalent to approximately $52 million, to reward developers who contribute innovations and new use cases to the network. The program was dubbed as the ABC Growth Fund. It is aimed at ambassadors, builders, and creators who wish to explore the possibilities of a privacy-focused web3 ecosystem.
COTI Aims to Attract New Developers and Transform Web3
The CEO of the firm, Shahaf Bar-Geffen, expressed his enthusiasm for the opening of the developer network and the launch of the builders program. Extending an invitation to teams worldwide to join the network and share their projects. According to Bar-Geffen, the next year will be crucial for building new technologies, forging new partnerships, and growing COTI’s network.
The ABC Growth Fund has a four-tiered structure designed to maximize impact on the ecosystem. Developers interested in participating must submit their applications to create proofs of concept (POCs) for privacy-preserving smart contracts, tools, and innovative products.
The firm’s aspirations are based on improving security and transparency in transactions and sensitive data management on the blockchain, as well as promoting greater innovation in the web3 space. With the increasing popularity of decentralized finance, artificial intelligence, and gaming within the crypto world, COTI hopes that its new grant program and developer network will catalyze even greater growth in these areas.
