We hear about crypto and privacy and possibly privacy leading the narrative for the next Bull Cycle which it probably will if Meme coins don't mess things up too badly. Crypto has to at some point get more serious and have technology and use cases leading the way and why privacy is right up there as our data is that important and needs protecting.
As you can see from the above screen shot there are a number of privacy protocols available and they are not the same with many offering limited privacy. I do think what COTI has developed is streaks ahead of everyone else with the important part being scalability and multi party so more than one transaction involved.
COTI recently joined Midnight (Zero Knowledge Privacy) to create COTI Midnight as rather than competing collaborating both technologies ending up with the desired outcome is better for everyone.
There was a reason why COTI was the crypto privacy tech selected to help with the ECB Digital Euro as the tech meets all regulations. In order for Digital Currencies to become a real currency being used daily privacy has to be built in or it is unusable.
The privacy tech is now available for blockchains and what is now holding things up is building everything in so this seamlessly works. Just because the tech is available it does not mean everything is ready as this has to be built out and incorporated. I am no developer so I would not know what this entails or how long this would take. I would presume the more collaborations in this privacy space will ultimately speed up this process.
Over the last few months I have noticed a lot of negativity creeping into the crypto space with disgruntled investors unhappy about the price dropping. This is typical and largely expected behavior highlighting the mentality of those who are investing.
A crypto like COTI announcing they had developed a privacy tech called Garbled Circuits was a major breakthrough because more importantly it all worked. The value of the token only happens when that tech is adopted through genuine use cases in the real world. This takes time and this is what is holding back crypto adoption mainly because crypto was not ready for the real world.
For those that do not know Zero Knowledge Proof was invented way back in 1985 and the drawback is it has it's limitations so developing Garbled Circuits was not the death nail, but more about offering hope. The negativity should be replaced with more bullish thoughts as the breakthrough has happened and now this is all being developed and applied behind the scenes. Crypto could have waited another 10 years for this breakthrough before crypto was ready for the institutions and businesses to join and use the blockchains.
Adoption with real use cases is closer than we might think and privacy was the missing link. Transparency was what everyone thought was so great yet it was the one fundamental that was not business friendly. Our own data needs to be protected and the privacy tech will do this.
The privacy tech is rolling out slowly and will just be part of crypto in the future having been built in. More importantly having a privacy tech that meets regulation requirements is going to be a must have.
When we look at privacy tech backed crypto protocols there are a number of them out there and one needs to know the difference between them in order to understand their limitations because scalability is the key here. having a privacy crypto that offers individual transactions is fine for retail and investors but when it comes to businesses and institutions multiple transactions need to happen on one transaction and for the most part this is not possible. COTI has this tech and why many will be building COTI into their current privacy tech and this will take time.
Posted Using INLEO
