For those that do not know COTI stands for Currency Of The Internet and has developed the fastest lightest privacy layer in Web3. At the time of my investment and continued investment which has been ongoing for nearly 4 years the privacy tech had not been developed yet. Privacy for the blockchain was mentioned roughly 2 years ago when a few of COTI's prospective payment clients insisted crypto was unusable until this was developed.
We know these prospective clients are very big because COTI would not have developed Garbled Circuits if they were not a big business corporation. One would imagine the two clients that mentioned privacy are in the top 20 companies globally. These announcements have not happened yet and would be expected within the next 6 months when it is up to the businesses to reveal the information and not COTI as they are the service provider.
This was the moment COTI knew mass adoption was not possible crossing over into the real world having big business and the masses using crypto on a daily basis. The transparency on the blockchain everyone was saying was so good was actually not so good for businesses as too much confidential information was being put on show. Businesses wanted to be able to select what was being shown and the reason why Garbled Circuits was developed using encryption offering the ability to hide private and confidential data.
This new garbled Circuits being developed and launched changing COTI into an Ethereum L2 token was more about being in on the right investment at the right time. The selection of COTI at the time was more about what COTI was and it was a payment service provider that had a banking license and being crypto they were on the inside whilst all other crypto was on the outside. COTI had the inside information on regulation and what was being discussed and could develop accordingly using the information they had.
The acceptance of crypto has changed so much over the last 4 years so much so this is a different world with some acceptance these days. The old guard is being replaced by the new guard who are very much in favor of the digital world and see the benefits of crypto and blockchain use cases as a positive and not a negative or a threat. The mindset is slowly changing and will continue to change until we see mass adoption whenever that might happen.
COTI's Garbled Circuits will be used across many blockchains as privacy is a must have for every crypto protocol which at the same time will enhance security. Ethereum had to have a privacy offering as investors needed to be protected from MEV bots front running trades. It was estimated that over a 3 year period between June 2020 and June 2023 these bots had "stolen" over $1 billion from front running trades which was money that belonged to the investors.
When one looks at COTI and how they think they want every crypto to succeed because it benefits everyone. COTI is sharing it's Garbled Circuits and was available for over 72 blockchains to use and develop. I am sure with all the bridges between the blockchains that this number will be open to all blockchains. We already know Solana, Chainlink, Cardano and Ethereum are developing using this privacy tech. The likes of Ripple are also having it developed for their use cases as banks are a must have for privacy and Ripple has access to the Garbled Circuits. I cannot recall which infrastructure/bridge mentioned this, but it was stated earlier in the year.
Like I said earlier in the post when I started researching COTI and decided to invest in this crypto none of this was known and this only has happened within the last 18 months. This is why COTI had to move to Ethereum and become an L2 token because of what they were now offering. Research played a big role in why I selected COTI and why you have to keep researching because nothing ever remains the same and if it does you need to ask the question why.