What Is COTI’s Garbled Circuit Upgrade That Helped Rake In 178% Gains

COTI Garbled Circuit Upgrade
COTI Garbled Circuit Upgrade Helped Rake In 178% Gains

NOIDA (CoinChapter.com) — COTI, a blockchain project focused on payments and finance, experienced a price increase after developers launched the V2 core protocol upgrade. The upgrade aims to improve the scalability and transaction costs of the COTI Trustchain.

Moreover, the upgrade introduced an advanced privacy technique known as garbled circuits. Garbled circuits are a cryptographic tool that enables computations on encrypted data without revealing the data itself.

Hence, COTI can process transactions while keeping concealed sensitive details like sender, recipient, and transferred amounts.

How COTI Integrates Garbled Circuits

The platform encrypts the transaction information before broadcasting on the network, making it unreadable to outside observers. As a result, a “garbled circuit” is generated. This circuit acts as a set of instructions for processing the encrypted data to achieve the correct transaction outcome.

Moreover, unlike zero-knowledge (ZK) proofs, garbled circuits support transactions involving private data across multiple parties. They also avoid the single-point-of-failure risk inherent in Trusted Execution Environments (TEEs).

COTI garbled circuit upgrade
COTI’s garbled circuits garnered a lot of attention.

After ward, the COTI network performs the necessary computations using the garbled circuit and the encrypted data. Moreover, the network nodes cannot decipher the underlying transaction details.

The designated recipient uses their decryption keys to unlock the result of the computation, revealing the transaction details only to them.

COTI’s use of garbled circuits offers several potential benefits. For instance, it introduces a higher level of privacy to the network which could make COTI attractive for use cases where the sensitivity of financial information is paramount.

Furthermore, garbled circuits claim to have superior computational efficiency, potentially allowing COTI to manage a larger volume of transactions without sacrificing speed or affordability.

The combination of privacy, scalability, and COTI’s tie-in with the Djed stablecoin could provide a distinct offering within the blockchain market.

COTI Price Rally Fails To Conquer $0.25

Despite rallying 178% from Feb. 22’s low of $0.09, COTI prices failed to flip the resistance near $0.25, breaking above it briefly on Feb. 25 before correcting sharply.

Although the sell-off continued during early trading on Feb. 26, the overbought relative strength index and upward sloping EMA trendlines indicate bulls remain in command.

As such, the garbled circuit upgrade could continue to push COTI price upward, helping the token flip its immediate resistance before targeting the resistance near $0.3. A close above the immediate resistance could mark the beginning of the second leg of COTI’s bull run.

COTI garbled circuit upgrade
COTIUSD daily price chart with RSI. Source: Tradingview.com

On the other hand, a failed rally could force the token’s price down to the support near $0.181. Moreover, a break below immediate support might see COTI price dropping to the support near $0.124, despite the hype from the garbled circuit upgrade.

The RSI — a momentum indicator for measuring asset price movements to identify overbought or oversold conditions— remained overbought with a score of 88.48 on the daily charts,

Traders often consider an overbought RSI level a bearish signal since the occurrence usually precedes a bearish reversal or consolidation phase for the underlying token. 

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