In Recent COTI News It claims to have achieved a breakthrough in blockchain encryption

In recent COTI NEWS coti claimed about utilizing garbled circuits for blockchain encryption marks a significant advancement in the realm of privacy and security within blockchain technologies. Here’s a simplified explanation of the concepts involved:

Garbled Circuits Explained [According to coti news ] :

Garbled circuits are a cryptographic technique designed to enable two or more parties to jointly compute a function over their inputs while keeping those inputs private. The method ensures that no party learns anything about the other’s input, except for what can be inferred from the output. How it works is explained below :

• Scenario: Two individuals, Alice and Bob, wish to find out who is richer without disclosing the actual amount of their wealth.
• Alice’s Steps:
  1. She creates a digital program (a circuit) that can determine who is wealthier.
  2. She then encrypts (or “garbles”) this circuit, along with her wealth information, in such a way that the logic of the comparison can still be executed without revealing the specific inputs.
  3. She sends this garbled circuit to Bob.
• Bob’s Steps:
  1. Bob encrypts his wealth information following a compatible method.
  2. He then inputs his encrypted data into the garbled circuit received from Alice, which processes the information.
  3. The circuit “decrypts” to reveal only the outcome of the comparison (i.e., who is richer) without exposing any specific wealth information from either party.
• Together: They can understand who is wealthier based on the outcome, without ever exposing their personal wealth data to each other.

Benefits of COTI’s Garbled Circuits Approach :

COTI’s implementation of garbled circuits claims to offer several improvements over existing privacy-preserving cryptographic techniques:

• Speed: Their method is purportedly 1000 times faster than previous approaches, making it highly efficient.
• Lower Latency: The process delivers results much quicker, enhancing user experience and efficiency.
• Reduced Storage: It requires significantly less storage space, addressing one of the common limitations in cryptographic applications.

Implications and Future Steps :

• White Paper: COTI plans to publish a white paper detailing their method, providing an opportunity for the wider community to assess and validate their claims.
• Developer Network: They aim to open a developer network to enable the creation of applications leveraging this new technology, potentially broadening its impact.

Overall Significance :

If COTI’s claims hold up, this breakthrough could represent a major leap forward in secure and private transactions on blockchains. The ability to conduct transactions or comparisons without revealing underlying data could have vast implications for privacy and security in digital transactions and beyond. However, the true impact and viability of this technology will become clearer upon the release and scrutiny of the detailed white paper and subsequent real-world applications and evaluations.

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