COTI Partners with Gitcoin to Launch $500K Grants Program for Web3 Privacy Projects | Coinspeaker

COTI Partners with Gitcoin to Launch $500K Grants Program for Web3 Privacy Projects

Mayowa Adebajo By Mayowa Adebajo Julia Sakovich Edited by Julia Sakovich Updated 3 min read
COTI Partners with Gitcoin to Launch $500K Grants Program for Web3 Privacy Projects
Photo: COTI

COTI boasts a groundbreaking privacy technology that it says is based on Garbled Circuits.

Key Notes

  • Grants aim to attract developers focused on innovative privacy solutions in Web3.
  • COTI's privacy tech claims to be 1000 times faster than existing alternatives.

Much to the delight of the Web3 ecosystem, decentralized privacy layer COTI has partnered with Gitcoin to launch a $500,000 grants program. According to a company press release, this program will focus mainly on privacy-focused projects, especially those with a genuine drive to create advanced privacy solutions that can further help to grow the Web3 space.

Notably, COTI boasts a groundbreaking privacy technology that it says is based on Garbled Circuits. According to benchmark studies, this technology is over 1000 times faster than existing alternatives, thus opening the door for developers to deploy fast and affordable privacy features for the first time.

Gitcoin, on the other hand, also comes into the partnership with grant management tools and services that are second to none.

So, by collaborating with Gitcoin, COTI will be seeking to lure top-tier developers and projects to its fast-growing privacy ecosystem. COTI will achieve this by using the $500K grant program to create significant exposure for its privacy layer. This will, in turn, present developers with the opportunity to experiment with the Garbled Circuits technology and unlock new use cases for privacy across various sectors within Web3.

Full Details of COTI-Gitcoin Partnership and Grant Initiative

As earlier noted, the $500,000 grants program will use Gitcoin’s grants management tools, which have an impressive record of success.

Since launching in 2017, Gitcoin has managed various grant programs, distributing over $60 million to developers across thousands of Web3 projects. So, leveraging the Gitcoin platform, COTI expects to attract a new generation of talent, accelerating privacy-focused innovation within its ecosystem.

Sharing his high hopes and aspirations for the new collaboration, company CEO Shahaf Bar-Geffen has also expressed his delight about COTI’s recent decision, particularly in its partnership choice. He said in part:

“This partnership aligns with COTI’s broader mission to set new standards for privacy in Web3, a space that increasingly demands secure and private solutions.”

It might also be worth mentioning that COTI’s recent announcement is only a follow-up on its past efforts toward privacy. It had earlier launched what was arguably the largest grants pool for privacy-focused projects in Web3 history.

Therefore, the new partnership is merely a continuation of this strive to foster privacy innovation in decentralized systems.

COTI insists that only those projects that align with its mission will receive funds from the grants program. However, the firm says it will also find ways to use part of the fund to expand privacy use cases in sectors such as decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (dApps).

As of publication, COTI has not communicated how developers and privacy-based projects may participate in the program. However, it says interested applicants will soon receive detailed instructions on how to do so.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Mayowa Adebajo

Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.

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