- The COTI project team has announced the launch of a $100 million fund.
- It also announced the release of COTI V2 Devnet for developers.
- The various application areas of the ecosystem include DeFi, Identity, Artificial Intelligence, GameFi and more.
Representatives of the decentralized COTI platform have announced the V2 Devnet update for developers. In addition, the team announced the launch of a $100 million fund that will support the growth of the ecosystem.
We’re happy to announce our upcoming Devnet and key target use cases for the growth fund!
The Devnet and upcoming grant program empower developers to experiment and build with COTI V2, fostering the growth of the COTI ecosystem.
- COTI Foundation (@COTInetwork) February 28, 2024
COTI is a Tier 1 blockchain ecosystem for payments. Unlike traditional blockchains that use Proof of Work (PoW) or Proof of Stake (PoS) algorithms to verify transactions, COTI uses the Proof of Trust (PoT) consensus algorithm – a combination of a directed acyclic graph (DAG) data structure with PoW.
According to the team, the COTI V2 update will provide transaction privacy that will enable decentralized application developers (dApps) to offer new products, as well as significantly improve the security of services.
It is reported that the developer network will be launched in the second quarter of 2024. The upgrade and grant program will allow participants to experiment with the technology and be rewarded for their contribution to the ecosystem, the press release said. All rewards will be distributed in COTI tokens.
Separately, the project team highlighted the possibility of using COTI V2 confidential transactions to conduct transactions with real-world tokenized assets (RWAs).
According to the developers, the ecosystem ensures payment privacy by maintaining transparency in the flow of funds while encrypting transaction details such as the amount of funds sent and the type of tokens involved.
“Lack of privacy has been one of the biggest drawbacks of the mass adoption of Web3. COTI V2 solves this problem and offers an ecosystem far superior to other products. We invite development teams from around the world to participate in the COTI V2 Devnet,” stated the project team.
Additional uses for the ecosystem include decentralized finance (DeFi), identity, artificial intelligence, GameFi, and more.
After a recent decline, the COTI token exchange rate reacted with a rise on the news. At the moment, the asset rose from $0.208 to $0.245, according to TradingView. At the time of publication, the coin is trading near $0.22.
Recall that in September 2023, the decentralized lending system MakerDAO allocated $100 million to fund RWA.
