Dear Readers,
COTI is a well known name in the crypto space.
COTI creates the world's leading digital infrastructure for payments and enterprise tokens.
The Specialty of COTI is that COTI is a layer-1 blockchain ecosystem designed exclusive for payments. Unlike the other traditional blockchains, COTI depend neither on Proof of Work (PoW) nor Proof of Stake (PoS) to validate transactions. It adopts a unique consensus algorithm called Proof of Trust (PoT), which combines directed acyclic graph (DAG) data structure with PoW. The Proof of Time (PoT)can lower transaction costs and increase throughput to up to 100,000 TPS.
Proof-of-Time (PoT) is a decentralized consensus algorithm that works by selecting validators in proportion to their ranking scores and fixed stake.
We have witnessed the price of COTI was surged more than 115% in the last 7 days.
Currently COTI trades at $0.219, which is again a 7% from yesterday.
It leads 28th place with the volume of trade.
Currently it ranked at 175 according to the market capitalisation in the coinmarketcap website.
The recent massive uptrend in the price of COTI is because of the integration of the Garbled Circuits, a privacy-boosting feature into the COTI blockchain with COTI V2 Core Technology update. This was announced on February 20. With this technical advancement in its blockchain encryption addresses previous limitations would be fixed and pave a way to introduce with most significant enhancement.
COTI V2 core, use an advanced privacy-preserving solution known as Garbled Circuits. Their breakthrough results in: 1000x faster computation than FHE systems. 100x lower latency compared to current solutions. 250x smaller storage requirements than FHE.”
Fully homomorphic encryption (FHE) is a special type of encryption algorithm that allows computation to be performed on encrypted data. This solves one of the main challenges of protecting sensitive data that needs to be decrypted in order to be used
COTI comes up with impressive advancements, boasting computation speeds 1,000 times faster than conventional FHE systems, and a storage footprint 250 times smaller than alternative solutions.
This means faster achieved transactions with very low storage.
Garbled circuit is basically a cryptographic protocol that enables two-party secure computation in which two mistrusting parties can jointly evaluate a function over their private inputs without the presence of a trusted third party. In the garbled circuit protocol, the function has to be described as a Boolean circuit.
This facilitates the transactions involving private states shared among multiple parties.
This capability is not currently offered by Zero-Knowledge (ZK) solutions. Additionally, they mitigate the risks associated with single-point-of-failure commonly observed in Trusted Execution Environment (TEE) solutions.
With the upscaling in technology with V2, the price of COTI will be in the uptrend for some time.
