The world’s fastest parallel MPC network, Ika (formerly known as dWallet Network), has officially announced its launch on Sui, an innovative Layer 1 blockchain and smart contract platform.
Ika offers a robust solution for safe interoperability across multiple blockchain networks, including Ethereum, Bitcoin, Solana, Polygon, Avalanche, and TON, serving as an alternative to traditional bridging methods. This capability enhances the development of Move smart contracts and strengthens the foundational infrastructure, enabling institutional players to leverage Sui’s advanced decentralized technology to its fullest potential. By utilizing Sui’s Mysticeti consensus and the cutting-edge 2PC-MPC cryptographic technique, Ika effectively addresses critical limitations present in existing MPC networks, delivering unprecedented throughput performance, minimal latency, vast scalability, and a zero-trust security model.
Various applications on the Sui blockchain benefit from Ika’s high-speed MPC network, including:
**Programmable Bitcoin:**
Ika facilitates programmable and secure DeFi solutions and custody options, unlocking new opportunities for native BTC on the Sui platform.
**DeFi Interoperability:**
Ika enhances liquidity from blockchains such as Bitcoin and Ethereum to Sui through its sub-second processing speed and scalability, allowing for immediate and secure transactions across the entire web3 ecosystem.
**Decentralized Custody:**
Ika offers unmatched security for both institutional and individual users by providing secure, decentralized custody solutions for digital assets on the Sui blockchain.
**Chain Abstraction:**
In conjunction with other Sui functionalities like zkLogin, Ika simplifies the complexities of multiple chains for developers, ensuring an optimal user experience.
**AI Agent Guardrails:**
Ika strengthens AI applications on Sui by implementing secure MPC guardrails that restrict AI agents from exercising unrestricted control, thereby safeguarding user assets.
Omer Sadika, Co-Founder of Ika, remarked:
“The IKA token will soon be natively integrated into the Sui blockchain, introducing additional decentralized security features and applications. As the native token of the Ika MPC network, IKA will play a crucial role in maintaining its rapid and scalable infrastructure. It will also serve as a medium of exchange for MPC signing services, streamlining transactions across the Web3 landscape. By merging the most promising MPC technology in blockchain with the fastest-growing Layer 1 in Web3, Ika enhances the overall security and scalability of the ecosystem, leveraging Sui’s unmatched speed and performance.”
Jameel Khalfan, Head of Ecosystem Development at Sui Foundation, stated:
“Ika’s alpha testnet is now live on Sui, with the mainnet launch slated for December.”
share
