In a time when technology is changing so quickly, privacy and protection have become much more important in the digital world. In his conversation with Dr. Nir Haloani, Ishan Pandey learns a lot about the latest changes in blockchain technology. Dr. Haloani is the Chief Technology Officer (CTO) of COTI and a famous Master Inventor. Dr. Haloani has more than 14 patents, and he has made a lot of progress in the fields of machine learning, artificial intelligence, and data compression. His thoughts are very helpful for anyone who wants to know where blockchain technology and all of its uses are going in the future. Through this conversation, COTI's creative privacy solutions are looked at, along with a full analysis of these technologies' wider effects in the digital world. Unlocking Blockchain's Potential: An Exclusive Interview with COTI's CTO, Dr. Nir Haloani Ishan Pandey: Hello, Dr. Nir, We are happy to have you join us for our "Behind the Startup" series. Could you briefly introduce yourself and your experience into the blockchain space? Dr Nir Haloani: I am the CTO of COTI, Dr. Nir Haloani. I have authored over 14 patents in the domains of machine learning, artificial intelligence, and data compression, earning me the esteemed title of Master Inventor. Having over 19 years of experience, I have led R&D teams at many digital firms. Previously, I was the CTO and co-founder of Infima Technologies, which IBM subsequently bought! I have a PhD in applied mathematics from Bar-Ilan University and a BSc in computer technology and mathematics from Tel Aviv University. Ishan Pandey: Could you elaborate on the methods used by COTI to protect privacy without sacrificing the main benefits of blockchain technology? Dr Nir Haloani: To improve privacy on its blockchain network, COTI uses garbled circuits, a cryptographic technique from the secure multi-party computation (MPC) domain. By allowing transactions and smart contract executions where information is kept confidential between participants, this method successfully addresses privacy issues without compromising the openness, security, and decentralisation that are intrinsic to blockchain technology. With the use of their personal data, several people may collaborate on calculations while keeping their inputs secret thanks to garbled circuits technology. Because of its computing requirements, this approach was first theoretical but has now been optimised by COTI and Soda Labs to need a fraction of the usual processing power and memory. In addition to solving the Millionaires' Problem—a well-known cryptography use case created by Andrew Yao to ascertain who is wealthier without disclosing true net worth—COTI's introduction of garbled circuits also establishes a new benchmark for privacy in the Web3 sphere. It serves a range of purposes by guaranteeing safe transactions that impact a shared private state between many parties without jeopardising private information. Due to its immunity to the single-point-of-failure vulnerabilities seen in Trusted Execution Environment (TEE) systems, garbled circuits are positioned as a preferable option to Zero-Knowledge (ZK) based solutions. Ishan Pandey: In what ways does COTI see Web3 applications—such as decentralised exchanges, privacy wallets, and governance systems—integrating with garbled circuits? Dr Nir Haloani: By providing safe and private calculations, COTI anticipates corrupted circuits improving the security of Web3 applications. With a new level of privacy that enables users to participate in transactions and governance decisions without disclosing sensitive information, this technology has the potential to significantly alter decentralised exchanges, privacy wallets, and governance systems. This will promote a more safe and reliable digital environment. Through the effective implementation of jumbled circuits, COTI presents a novel approach to blockchain encryption, fusing the advantages of on-chain immutability with the critical need for privacy. This technique is an example of Multi-Party Computation (MPC), which allows many parties to collaborate on calculations while sharing private data without disclosing the inputs to other parties. This innovation removes the computational obstacles that previously prevented the widespread use of such cutting-edge privacy protections on the blockchain. A major technical advancement, the use of garbled circuits promises scalable privacy and much quicker processing compared to previous encryption methods like Fully Homomorphic Encryption (FHE). This strengthens COTI's position as a pioneer in Web3 safe data transmission and creates a plethora of use cases that need strict privacy controls without compromising the fundamental benefits of blockchain technology. Ishan Pandey: In terms of safe and private applications for daily life, what opportunities does COTI's jumbled circuits have for the future of blockchain technology? Dr Nir Haloani: By providing safe and private calculations, COTI anticipates corrupted circuits improving the security of Web3 applications. With a new level of privacy that enables users to participate in transactions and governance decisions without disclosing sensitive information, this technology has the potential to significantly alter decentralised exchanges, privacy wallets, and governance systems. This will promote a more safe and reliable digital environment. Through the effective implementation of jumbled circuits, COTI presents a novel approach to blockchain encryption, fusing the advantages of on-chain immutability with the critical need for privacy. This technique is an example of Multi-Party Computation (MPC), which allows many parties to collaborate on calculations while sharing private data without disclosing the inputs to other parties. This innovation removes the computational obstacles that previously prevented the widespread use of such cutting-edge privacy protections on the blockchain. A major technical advancement, the use of garbled circuits promises scalable privacy and much quicker processing compared to previous encryption methods like Fully Homomorphic Encryption (FHE). This strengthens COTI's position as a pioneer in Web3 safe data transmission and creates a plethora of use cases that need strict privacy controls without compromising the fundamental benefits of blockchain technology. Ishan Pandey: Given that COTI's jumbled circuits are a major advancement in on-chain privacy, how does the business intend to educate and involve users—particularly the younger demographic—about the significance and advantages of this ground-breaking privacy solution? Dr Nir Haloani: COTI plans to engage and educate users through a comprehensive outreach strategy that includes educational content, workshops, and community engagement initiatives. By illustrating the importance of privacy in the digital age and demonstrating how garbled circuits can protect users' data on the blockchain, COTI aims to foster a more informed and privacy-conscious user base. Ishan Pandey: What do you think the future of blockchain gaming will hold, and how do you intend to lead the way in innovation in this quickly changing sector? Dr Nir Haloani: The future of blockchain gaming is incredibly promising, with the potential to offer more immersive, secure, and fair gaming experiences. COTI's vision is to contribute to this future by leveraging its privacy technologies, to protect players' data and transactions within games. By incorporating privacy technologies, COTI aims to safeguard player data and transactions, enhancing trust and fairness in gaming ecosystems. Ishan Pandey: How does COTI intend to modify its privacy technology to satisfy legal requirements without jeopardising user privacy in light of the growing acceptance and examination of cryptocurrencies by regulatory authorities throughout the world? Dr Nir Haloani: Without sacrificing user privacy, COTI is dedicated to modifying its privacy technology to meet international regulatory requirements. This calls for a methodical strategy that upholds users' right to privacy as well as legal obligations by leveraging blockchain technology to balance user privacy with regulatory requirements. Ishan Pandey: How does COTI expect the volatility in cryptocurrency prices to affect its development trajectory and the uptake of its privacy-focused solutions? Dr Nir Haloani: Cryptocurrency price changes may have an effect on how people feel about them, but COTI says that the privacy-focused value of its goods is greater than these short-term changes in value. As more people learn about how important privacy is in the blockchain field, COTI thinks that more and more people will use its goods. Privacy is always important in apps and online purchases. COTI's main goal is to provide reliable privacy solutions that meet real-world needs and stay relevant and strong in a digital world that is changing quickly. Don’t forget to like and share the story! This author is an independent contributor publishing via our brand-as-author program. Be it through direct compensation, media partnerships, or networking, the author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Vested Interest Disclosure:

Dr. Nir Haloani: Master Inventor Discusses the Future of Privacy in Blockchain

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