COTI and MyEtherWallet (MEW) have teamed up to bring enhanced privacy features to their users. This news was shared through COTI’s official X account. The collaboration will integrate COTI’s privacy technology into both MEW and Enkrypt wallets, benefiting over 3 million active users.
We are excited to reveal that we are working with @myetherwallet to integrate COTI’s privacy tech into MEW & @enkrypt wallets, bringing built-in privacy features to over 3M users for the first time✨
Web3 privacy is ready for prime time!
Read more👉https://t.co/SYbH1ZQlF9$COTI— COTI Foundation (@COTInetwork) October 18, 2024
MEW Wallet to Offer Improved Anonymity with COTI’s Encryption
Garbled Circuits technology from COTI will also be used in enhancing on-chain privacy during the integration. This encryption method is at least an order of magnitude faster than the currently existing solutions. It will enable MEW users stay secure without compromising on the performance of their wallets.
According to Shahaf Bar-Geffen, the CEO of COTI, this partnership is a giant leap for blockchain privacy. With the help of Garbled Circuits, MEW will be able to provide its users with the improved level of anonymity on a much greater level. It means that the main idea is to preserve financial anonymity of users while maintaining the openness of blockchain.
MEW and COTI Empower Users with Enhanced Privacy Controls
The partnership was welcomed by Kosala Hemachandra, CEO of MEW. He said that MEW has always been dedicated to the protection of the users’ identity and that this partnership will enhance both the layout and protection of users’ identity. MEW is now in a position to offer its users much better security regardless of their level of expertise in the sector.
Ultimately, the inclusion of COTI’s privacy features arrives at the right time. With privacy being an emerging issue in Web3, this partnership gives users more control over their transactions. They will now be able to hide or show their transaction history depending on their preference.