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COTI’s privacy-focused Ethereum L2 efforts have reached a critical milestone with the successful integration of the Multi-Party Computation (MPC) protocol. This achievement has subsequently reflected in the token price, with COTI’s price experiencing an approximate 55% increase. Let’s delve into the details of the subject.
COTI V2 Architecture and MPC Integration
The architecture of COTI V2 largely relies on MPC technology and ensures the privacy of Layer-2 computations on Ethereum without compromising data confidentiality. Participants provide encrypted data to an MPC “black box” that executes specific computational processes.
MPC results are delivered in a manner that maintains data integrity, even under potential external scrutiny. Each MPC entity, known as an “MPC endpoint,” is then integrated into the project’s specialized Extended EVM execution module.
Progress at the MPC Endpoint
MPC endpoints facilitate collaborative computation without sacrificing data privacy. This progress significantly enhances EVM functionality, unlocking support for a wider variety of dApps within a framework that offers transparency alongside core privacy features.
This integrated MPC architecture provides increased privacy and security for complex on-chain computations, enabling wider adoption of Ethereum technology as use cases expand.
Implementation Process
To facilitate the use of MPC, users initially generate cryptographic key material. Then, data is sent in an encrypted form for secure storage. Users subsequently submit their workloads in secure MPC bytecode. Operations such as addition and multiplication occur on secret data without revealing the original values. Workloads can produce general outputs or outputs that are privately encrypted for access by selected users only.
According to COTI, MPC modules work collaboratively and a simulated state has also been tested. This cryptographic concept represents a specific computational function and is naturally secure due to its single-use nature. This ensures privacy both retroactively and proactively by design.
This initial development milestone includes the completion of the protocol, including design and algorithms. More importantly, COTI developers have demonstrated the ability to securely input and output data using distributed keys, enabling advanced encryption and decryption functions without compromising security. The COTI price is trading at $0.104 at the time of writing this article.
