According to CryptoPotato, the COTI Foundation has revealed the target use cases and focus areas for its $100 million development fund, which will be allocated in COTI tokens. A selection process will be open to all developers interested in applying for funding, encouraging them to explore and build data-secure apps. The COTI V2 ecosystem will encompass various areas, including decentralized finance (DeFi), dynamic decentralized identification, data management, artificial intelligence (AI), and GameFi.
COTI V2 aims to bring the next billion in total value locked (TVL) to DeFi with confidential transactions, enabling decentralized apps to offer new products and services while enhancing privacy and security. The system will still maintain regulatory requirements such as know-your-customer (KYC) protocols. COTI Founder and CEO Shahaf Bar-Geffen expressed excitement about the potential of privacy-centric innovation in Web3 and invited blockchain builders and thinkers to join the COTI ecosystem, starting with the upcoming Devnet.
The foundation recently deployed Garbled Circuits, a technology designed to provide on-chain privacy with a computation speed up to 1000 times faster than other encryption systems.
