Introducing the World’s Fastest Parallel MPC Network: Ika Launches on Sui Blockchain
Ika, formerly known as dWallet Network, made an exciting announcement today as it officially launched on Sui, a state-of-the-art Layer 1 blockchain and smart contract platform. With its innovative approach, Ika offers a safe interoperability solution for Ethereum, Bitcoin, Solana, Polygon, Avalanche, TON, and more, eliminating the need for bridging. This empowers developers of Move smart contracts and provides a stronger foundational infrastructure, enabling institutional players to fully harness Sui’s cutting-edge decentralized technology. By leveraging Sui’s Mysticeti consensus and the revolutionary 2PC-MPC cryptographic method, Ika addresses the significant limitations of current MPC networks, achieving unprecedented throughput performance with low latency, remarkable scalability, and top-notch security.
Ika’s ultra-fast MPC network fuels numerous applications on the Sui blockchain, including:
1. Programmable Bitcoin:
Ika revolutionizes DeFi and custody by offering programmable and secure options, unlocking new possibilities for native BTC on Sui.
2. DeFi Interoperability:
With its lightning-fast speed and scalability, Ika brings liquidity from chains like Bitcoin and Ethereum to Sui, enabling instant and secure operations across all web3 ecosystems.
3. Decentralized Custody:
Ika provides unparalleled security for institutional and individual customers through safe and decentralized custody solutions for digital assets on the Sui blockchain.
4. Chain Abstraction:
Together with Sui’s zkLogin and other capabilities, Ika simplifies the complexity of multiple chains for builders on Sui, delivering an optimal user experience.
5. AI Agent Guardrails:
By implementing secure MPC guardrails, Ika prevents AI agents from having unrestricted power and safeguards user assets, enhancing AI applications on Sui.
Omer Sadika, Co-Founder of Ika, shared his excitement about the future of the project, stating, “Soon, the IKA token will be natively available on the Sui blockchain, unlocking additional decentralized security features and applications. As the native token of the Ika MPC network, IKA will play a vital role in sustaining its high-speed and scalable infrastructure. It will also serve as payment for MPC signing services, facilitating seamless transactions across the Web3 realm. By combining the most promising MPC technology in blockchain with the fastest-growing L1 in Web3, Ika enhances the ecosystem’s overall security and scalability, leveraging Sui’s unparalleled speed and performance.”
Jameel Khalfan, Head of Ecosystem Development at Sui Foundation, expressed his enthusiasm, stating, “Today, Ika’s alpha testnet is available on Sui, with the mainnet launch scheduled for December.”
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