Gabung/ Daftar

COTI Integrates Multi-Party Computation Protocol into Ethereum-Based Layer-2 Network

09/02/2024 23:12

According to CryptoPotato, fintech platform COTI has successfully integrated the Multi-Party Computation (MPC) protocol into its privacy-focused Ethereum-based layer-2 network. The design and implementation of the MPC protocol for COTI V2 marks the first development milestone achieved this year. MPC allows parties to perform computations on their private inputs using cryptographic protocols without revealing them to each other, ensuring the confidentiality of participants' data throughout the computation phase. MPC transactions involve parties contributing encrypted data to a designated black box, which processes the inputs and produces a result shared among the participants. This technique maintains privacy integrity even under third-party scrutiny. MPC endpoints, or participants, will be incorporated into an Extended-Ethereum Virtual Machine (EVM) execution module, which facilitates the interaction between the EVM execution module and the collaboration of various MPC endpoints. COTI claims that Garbled Circuits, a cryptographic primitive generated by participants after submitting their workload to the MPC module, are more efficient than the Zero-Knowledge protocol used by other L2 networks on Ethereum for implementing robust privacy protection. These Garbled Circuits are deleted after each execution to ensure forward and backward secrecy on the protocol. COTI's native token has seen a significant surge recently, with data from CoinMarketCap showing an increase of over 81% in the past week, trading at $0.10 at the time of writing.

Bullish

Kasar