Ika MPC Community Brings Programmable BTC, ETH, and SOL to Sui

Grand Cayman, Cayman Islands, October thirtieth, 2024, Chainwire

Ika, the world’s quickest parallel MPC community, previously referred to as dWallet Community, as we speak introduced their launch on Sui, the modern Layer 1 blockchain and good contract platform.

An alternate choice to bridging, Ika presents safe interoperability throughout , , , Polygon, , TON and extra, empowering Transfer good contract builders and offering enhanced foundational infrastructure that permits institutional gamers to totally leverage Sui’s industry-leading decentralized know-how. Ika makes use of the novel 2PC-MPC cryptographic scheme and Sui’s Mysticeti consensus to deal with vital limitations in present MPC networks, delivering unprecedented efficiency in throughput, with minimal latency, excessive scalability and zero-trust safety.

Ika’s ultra-fast MPC community powers a variety of functions on the Sui blockchain, together with:

• Programmable Bitcoin: Ika unlocks new potentialities for native BTC on Sui, with programmable and safe DeFi and custody.
• DeFi Interoperability: Ika’s sub-second velocity and scalability allow immediate and safe operations throughout all web3 ecosystems, bringing liquidity from chains like Bitcoin and Ethereum to Sui.
• Decentralized Custody: Ika presents safe, decentralized custody options on the Sui blockchain for digital belongings, delivering unmatched safety for institutional and particular person customers.
• Chain Abstraction: Ika permits builders on Sui to summary the complexity of a number of chains for his or her customers, alongside different Sui options corresponding to zkLogin, delivering an ideal person expertise.
• AI Agent Guardrails: Ika enhances AI functions on Sui, by offering safe MPC guardrails, guaranteeing AI brokers don’t have full unchecked energy, safeguarding customers’ belongings.

“Sui is the quickest execution venue for cross-chain programmable BTC, DeFi, decentralized custody, Chain Abstraction, and AI agent guardrails,” stated Omer Sadika, Co-Founding father of Ika. “We selected Sui as a result of Ika is deeply aligned with Sui’s core values of efficiency, velocity, and decentralization.”

The IKA token will quickly launch natively on the Sui blockchain, unlocking new performance and utility in decentralized safety. Because the native token of the Ika MPC community, IKA will play a pivotal function in powering its ultra-fast, scalable infrastructure, serving because the means to pay for MPC signing companies, enabling seamless transactions throughout the Web3 area. By leveraging Sui’s unmatched velocity and efficiency, Ika enhances the general safety and scalability of the ecosystem, including probably the most promising MPC know-how in blockchain to the fastest-growing L1 in Web3.

“With Ika, greater than $2 trillion in digital belongings can now be programmed through the Sui community,” stated Jameel Khalfan, Head of Ecosystem Improvement at Sui Basis. “Ika’s broad number of use instances represents unimaginable potential for the Sui ecosystem.”

Ika’s alpha testnet is obtainable on Sui as we speak, with mainnet launch slated for December.

About Sui

Sui is a first-of-its-kind Layer 1 blockchain and good contract platform designed from the underside as much as make digital asset possession quick, non-public, safe, and accessible to everybody. Primarily based on the Transfer programming language, its object-centric mannequin permits parallel execution, sub-second finality, and wealthy on-chain belongings. With horizontally scalable processing and storage, Sui helps a variety of functions with unmatched velocity at low value. Sui is a step-function development in blockchain and a platform on which creators and builders can construct wonderful, user-friendly experiences. Study extra: https://sui.io

About Ika

Ika is the quickest parallel MPC community, providing sub-second latency, scalability to 10,000 tps and a whole bunch of nodes, and zero-trust safety. Because the premier selection for interoperability, decentralized custody and chain abstraction, Ika is about to revolutionize digital asset safety and multi-chain DeFi. Customers can be taught extra right here.

ContactDarius GooreSui Basismedia@sui.io

This text was initially revealed on Chainwire