$COTI Private ERC20: Encrypting & Decrypting Transactions — Let’s Explore...
Hey All,
At first I wanted to share this GIF image that the COTi team has created around showcasing the encrption and decryption of the data on chain. Toggle the "Private" button and the details tied to the transaction get encrypted onchain, making the amount and balances private and visible only to the key holder. How cool this can be for institutions and many other organizations like banks and many others who would like to encrypt their data on the blockchain. And COTI is doing all of this for YOU, with ease simplicity and at SCALE... Recently, COTI Treasury was put to an end for staking rewards, and it was shifted to the KuCoin exchange if users wanted to earn by staking their COTI. I decided not to move my #COTI and #gCOTI tokens, as I wanted to have control over these tokens rather than a CEX controlling them. Not your KEYS, NOT your TOKENS, it’s that SIMPLE.
The above image displays my stake in both the tokens and currently they both resides in my metamask wallet. Lets now talk a bit around COTi provding the usecase in blockchain which is PRIVACY... Same wallet. Same tokens. Same transfer. In very simple terms the #COTI Private ERC20 encrypts the amount and balances onchain. And then only the privacy key holder can read them.
Yes, for the transactions to be read, the private key is needed for decrypting the details, making sure that only the authorized key holder can access them. The above thumbnail image demonstrates the same..I think PRIVACY on the blockchain is going to overall build a new, brighter Open Finance. Meaning, a lot of opportunities for all those organizations that would like to leverage blockchain while keeping their data and transactions private. For now I will just reamin invested and will seek opportunites to buy some more #COTi tokens to get to a total of holding 200K+ COTi tokens...Well this should be it for todays post on - "$COTI Private ERC20: Encrypting & Decrypting Transactions — Let’s Explore..." Interested then do yourself a favor to grab some coti and gcoti tokens now before they skyrocket and thank me later....& obviously DYOR... Stay Coti... Happy Investing... cheers
Have Your Say on COTI APRs - COTi Earn, #COTI, #gCOTI token - HODL Vs SELL?
Did you link your Viper Wallet to MetaMask? Are you invested in #COTI token? Did you know about this bridge on the COTI platform that lets you to transfer your COTI from centralized exchange to a DEX? Are you staking COTI vs gCOTI? Would love to hear your thoughts around it in the comment box below?
#coti #gcoti #payment #rewards #treasury #staking #node #howto #transfer #crypto #cryptoofinternet #hodl #binance #bridge #currencyofinternet
Image Courtesy:: coti treasury, ChatGpt, coti, Metamask
Best Regards
Paras
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I have a personal interest in blockchain, stocks, and cryptocurrencies and actively invest in emerging projects. Also I am using ChatGpt for structing of the table content in markdown language at times...