Grand Cayman, Cayman Islands, October 30, 2024, Chainwire

Ika (previously generally known as dWallet Community), the world's quickest parallel MPC community, in the present day introduced its launch on Sui, an modern layer 1 blockchain and sensible contract platform.

An alternate bridging possibility, Ika gives safe interoperability throughout , Polygon, , TON, and extra, empowering Transfer sensible contract builders and enabling institutional traders to leverage Sui's industry-leading decentralized know-how. We offer a hardened base infrastructure that will help you get essentially the most out of it. Ika leverages a brand new 2PC-MPC encryption scheme and Sui's Mysticeti consensus to handle crucial limitations of current MPC networks, offering unprecedented Obtain throughput efficiency.

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

• programmable bitcoin: Ika unlocks new potential for native BTC on Sui with programmable and safe DeFi and custody.
• DeFi interoperability: Ika's sub-second velocity and scalability allows on the spot and safe operations throughout all Web3 ecosystems, bringing liquidity to Sui from chains like Bitcoin and Ethereum.
• decentralized storage: Ika gives a safe decentralized storage answer for digital property on the Sui blockchain, offering unparalleled safety for institutional and particular person customers.
• Chain abstraction: Ika permits Sui builders to summary the complexity of a number of chains for his or her customers and supply a flawless person expertise, alongside different Sui options resembling zkLogin.
• AI agent guardrails: Ika powers AI functions on Sui by offering safe MPC guardrails to make sure that AI brokers don’t have any totally unchecked privileges and shield person property.

“Sui is the quickest place to run cross-chain programmable BTC, DeFi, decentralized storage, on-chain abstraction, and AI agent guardrails,” mentioned Omer Sadika, co-founder 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 be launched natively on the Sui blockchain, unlocking new options and utilities in decentralized safety. Because the native token of the Ika MPC community, IKA performs a pivotal position in powering an ultra-fast and scalable infrastructure, serves as a method of cost for MPC signing providers, and allows seamless transactions throughout the Web3 area. Masu. By leveraging Sui's unparalleled velocity and efficiency, Ika strengthens the general safety and scalability of its ecosystem, including blockchain's most promising MPC know-how to Web3's quickest rising L1 I’ll.

“With Ika, greater than $2 trillion in digital property could be programmed by the Sui community,” mentioned Jameel Khalfan, head of ecosystem growth on the Sui Basis. “Ika’s big selection of use circumstances represents the unbelievable potential of the Sui ecosystem.”

Ika's alpha testnet is out there on Sui in the present day, with mainnet launch scheduled for December.

About Sui

Sui is a first-of-its-kind layer 1 blockchain and sensible contract platform designed from the underside as much as make digital asset possession quick, non-public, safe, and accessible to everybody. An object-centric mannequin based mostly on the Transfer programming language allows parallel execution, sub-second finality, and wealthy on-chain property. With horizontally scalable processing and storage, Sui helps a variety of functions at low value and unmatched velocity. Sui is a step-function development in blockchain and a platform that enables creators and builders to construct superb user-friendly experiences. Click on right here for particulars: https://sui.io

About squid

Ika is the quickest parallel MPC community, providing sub-second latency, scalability to 10,000 tps and a whole bunch of nodes, and nil belief safety. Ika will revolutionize digital asset safety and multi-chain DeFi as the primary alternative for interoperability, decentralized custody, and chain abstraction. Customers can be taught extra right here.

contactDarius GoorSui Basis[email protected]

This text was initially revealed on Chainwire