The COTI team will launch a $100 million fund and a network for developers
The COTI project team announced the launch of a $100 million fund. She also announced the release of COTI V2 Devnet for developers.
Representatives of the decentralized COTI platform announced the V2 Devnet update designed for developers. In addition, the team announced the launch of a $100 million fund that will contribute to the growth of the ecosystem.
COTI is a first—level blockchain ecosystem designed for making payments. Unlike traditional blockchains, where Proof of Work (PoW) or Proof of Stake (PoS) algorithms are used 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 ensure the confidentiality of transactions that will allow developers of decentralized applications (dApps) to offer new products, as well as significantly increase the security of services.
It is reported that the developer network will be launched in the second quarter of 2024. The update and the grant program will allow participants to experiment with the technology and receive rewards for their contribution to the development of the ecosystem, according to a press release. All rewards will be distributed in COTI tokens.
Separately, the project team highlighted the possibility of using confidential COTI V2 transactions to conduct transactions with real-world tokenized assets (RWA).
