Ika MPC Network Powers Sui with Programmable Chains
Ika’s integration with Sui lets developers build Bitcoin, Ethereum, and Solana-compatible decentralized apps with streamlined experiences and advanced features.
Today, Ika, the self-proclaimed fastest global parallel Multi-Party Computation (MPC) network, announced that it has officially launched on Sui, an advanced layer-1 blockchain developed by Mysten Labs. Nevertheless, the platform is operational on the testnet, with the mainnet set to launch in December.
The protocol, previously known as the dWallet Network, will enable secure interoperability across various blockchain networks, such as Bitcoin, Ethereum, Solana, Polygon, Avalanche, and The Open Network, as per a shared press release.
The objective of integrating Bitcoin and other blockchains into Sui is to enable developers to develop secure decentralized finance (DeFi) solutions and custody options, thereby enhancing the utility of their underlying cryptocurrencies in novel applications.
According to the announcement, interoperability will benefit developers working with Move intelligent contracts. They will have a robust foundational infrastructure, enabling institutional participants to leverage Sui’s state-of-the-art decentralized technology fully.
In addition to the programmability, the recently launched MPC platform will introduce additional functionalities to the Sui blockchain, including secure decentralized custody solutions, chain abstractions, and artificial intelligence (AI) Agent Guardrails. These functionalities will improve the Sui blockchain, increasing its appeal to developers and end users.
Ika is claimed to employ the “novel 2PC-MPC cryptographic scheme and Sui’s Mysticeti consensus to address critical limitations in existing MPC networks, delivering unprecedented performance in throughput, with minimal latency, extreme scalability, and zero-trust security.”
The MPC network launched on Sui due to their shared business values.
“Sui is the most efficient execution venue for AI agent guardrails, Chain Abstraction, decentralized custody, DeFi, and cross-chain programmable BTC.” Omer Sadika, Co-Founder of Ika, stated, “We selected Sui because Ika is in profound alignment with Sui’s core values of decentralization, speed, and performance.”
Additionally, Ika intends to introduce its native token, IKA, on the Sui blockchain. The utility token will be the upcoming digital asset, empowering all platform activities and improving the network’s security and overall performance. Digital asset holders will have the option to pay for the project’s MPC signing services, as indicated in the press release.
Ika guarantees the token will enable new functionality and utility in decentralized security even though the launch date has not yet been disclosed. According to Jameel Khalfan, the Head of Ecosystem Development at Sui Foundation, the MPC platform is expected to introduce diverse blockchain applications. He also stated that the Sui network can now program over “$2 trillion in digital assets” with Ika.
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