Last night we had an update from COTI with regard to the DevNet which went live 9 days ago. There are over 200 smart contracts that have been deployed already and many more expected. These are all based on the privacy COTI V2 technology on Ethereum using encryption via the garbled circuits.
There is news of more than 30 crypto projects and companies who are interested in the new COTI V2 technology with ongoing discussions taking place with all parties. The growth possibilities and real adoption use cases are evident since the introduction of the garbled circuits and sets COTI apart from other Ethereum L2 crypto projects.
It is great when new technology is introduced that benefits the entire crypto eco system as privacy along with security has needed to change in order for new investors to get involved in crypto. Many businesses have not been happy about the transparency of blockchain transactions and rightly so. With the right developers on board this should outperform most crypto investments and why I have high expectations for COTI.
When we consider the likes of $STRK and $ARB being Ethereum L2 tokens having a market cap nearly 50 x larger than that of COTI the growth potential is large. The real life use cases involving privacy is seriously important and COTI has the technology that sets them apart from all the others. Personally I would be very happy if my investment did a 50 x and why I continue to grow my stake. We just do not know the true value of our investment so even a 20 x would normally be considered a great result.
All we know is DevNet is live now up and running to be followed by TestNet in the 3rd Quarter finishing off with the MainNet launch at the start of the 4th Quarter. The good news is the market is currently moving sideways with prices still relatively cheap in comparison to where they are expected to be in the next 6 months.
In crypto there are plenty of investment opportunities all around us with many projects not having any proven real use cases. How many projects will see am ATH later next year because the train of thought is not expecting to see that the next time we see the market peak. Crypto up until now just followed whatever Bitcoin was doing and not every crypto will recover when Bitcoin starts to fly. In the past it did not matter what project you invested in because everything did well on speculation alone and in most cases was over valued because use cases and utilities were unproven. This will start to become more clearer this cycle.