COTI Launches Ecosystem Fund to Power Ethereum Privacy

Godfrey Benjamin
January 18, 2024
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Israel-based blockchain development firm COTI has made a strategic move with the launch of an Ecosystem Growth Fund targeted at accelerating Ethereum privacy. 

COTI Upgrades to Layer-2

According to a published statement, the COTI Ecosystem Growth Fund was conceived as a tool to accelerate the development and adoption of COTI V2 while ensuring transaction confidentiality. The fund which is currently valued at approximately $25 million, comes with an allocation of 400 million COTI tokens. 

In the long run, it would offer support to projects from developers who are interested in contributing to the growth and success of the COTI ecosystem by researching, developing, and building within COTI V2. As such, COTI is geared up to start inking strategic partnerships with interested parties. Soda Labs, a leading player in cryptographic Multi-Party Computation (MPC) is the first project to receive funding.

Precisely, Soda Labs will focus on leading research that is targeted at expanding practical applications for garbling protocols, to ensure a secure and scalable privacy network for COTI users. Dr. Avishay Yanai, one of the co-founders of Soda Labs, confirmed the company’s previous effort toward innovation in the garbling circuit protocol. Therefore, the alliance with COTI is a stepping stone towards reaching its goal.

COTI Aims to Accelerate Ethereum Privacy

The plan to advance into a Layer-2 network that encourages Ethereum privacy has been ongoing for many months but it was not until a few weeks ago that COTI commenced the gradual release of the upgrade. COTI’s CEO Shahaf Bar-Geffen stated that the Ethereum privacy-centered fund marks a monumental step for the firm. 

“The creation of this fund by the COTI Foundation is integral in driving both the adoption of COTI V2 and the development of applications within the ecosystem,” Bar-Geffen added.

COTI looks forward to making more meaningful connections in the coming months that support its newly launched Ethereum privacy vision. One of COTI’s plans for the future is the addition of a developer’s grant program distributed amongst milestones. This will contribute significantly to the holistic growth strategy of the COTI V2 ecosystem. This strategic move from COTI is likely to improve Ethereum adoption and integration in the long run.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.