Development Update —Node Management, Audit Progress and more!

Our development team has been making strong progress since our last update. We’re pleased to be able to report that work towards Mainnet is going well. This week’s highlights include:

• Node monitoring and management tools
• Testnet Security and Upgrade
• Security Audit Results
• First iteration of COTI MetaMask Snap
• Security vendor research

Let’s take a closer look!

Node Tools

COTI’s node management tools will be among the most sophisticated in the Web3 space. As well as detailed monitoring, operators will be able to set highly granular parameters for their nodes, creating custom treasury conditions for the users who stake COTI tokens with them. There will be lots of different options that will allow a wide range of participation, contributing to a large and decentralized network that will underpin the security of the COTI L2 and enable node runners, businesses, and other ecosystem stakeholders to build lasting value together.

We are currently working on the specifications for Node Management and Node Operators software. The design work includes how nodes will be monitored, how uptime will be communicated, and how operators will manage their nodes in practice. We intend to create something that both new and experienced node operators will enjoy using and find valuable. Stay tuned, because we will have lots more to announce on this in due course.

Testnet Upgrade

During the first week of March, a planned testnet upgrade will introduce a suite of enhancements designed to fortify the COTI network. This upgrade will reset the network, meaning all deployed contracts will need to be redeployed as a necessary step on the road to mainnet.

Improvements include:

• Robust error management and bug fixes to ensure thorough input validation in both MPC and Geth.
• Adjusted gas pricing for the ‘shifts’ and ‘getUserKey’ functions.
• Refinements to the minting mechanism in line with the inflation scheme.
• Updated Checked operations to now return an encrypted flag rather than reverting on overflow or underflow.

The upgrade bolsters the network’s stability and security, even with tens of external validators, and gives developers greater control when working with COTI.

Security Audit Results

As previously mentioned, our external auditor, Hacken, has begun a comprehensive audit of our MPC protocol, examining both its cryptographic integrity and the underlying code.

On the cryptographic front, we have addressed all queries and, at this stage, no changes are deemed necessary. With regards to the code, we have received some suggested changes that point to the need for horizontal modifications that we are now working to implement.

The audit is still ongoing and we look forward to updating you on progress as we continue towards completion.

MetaMask Snap

As we discussed in a previous developer update, we have been working on a COTI MetaMask Snap.

Snaps are a way of adding extended functionality to MetaMask that is not provided by default. In COTI’s case, we need a means of onboarding users with an encryption key and allowing them to make transactions and view data that is encrypted with their key.

We’re now looking to release the first iteration of the Snap, which will enable users to view and add confidential tokens and NFTs to MetaMask. We are also working to enable encrypted token and NFT transfers, providing the same kind of user experience people are already familiar with when using MetaMask. We hope to launch this soon which will enable us to collect your feedback to iterate and improve this functionality.

Security Research

Work to ensure the security of COTI Mainnet falls into two broad categories. The first is the protocol audits that are already underway, as discussed in the last update.

The second element is real-time threat detection, which builders will be able to use to protect their dApps and users from a range of potential vulnerabilities and attacks.

We are discussing provision with several companies and hope to reach a decision soon. There are a number of protocols we might use, and are particularly interested in those which leverage custom machine learning (ML) models to detect security attacks and breaches in real time and automatically take action to mitigate them. These systems can be powerful, with the ability to pause the flow of funds within smart contracts when an attack is detected.

Stay COTI!

For COTI updates and to join the conversation, be sure to check out our channels:

Website: https://coti.io/

X: https://twitter.com/COTInetwork

YouTube: https://www.youtube.com/channel/UCl-2YzhaPnouvBtotKuM4DA

Telegram: https://t.me/COTInetwork

Discord: https://discord.gg/9tq6CP6XrT

GitHub: https://github.com/coti-io