The post Ika Launches on Sui, Revolutionizing Cross-Chain DeFi appeared on BitcoinEthereumNews.com.

The world’s largest parallel MPC network, Ika (formerly known as dWallet Network), has announced their official launch on Sui, a layer 1 blockchain platform celebrated for its rapid transaction speeds and scalable smart contract capabilities. Ika brings an innovative alternative to traditional bridging by enabling secure and efficient interoperability across major blockchain ecosystems, including Bitcoin, Ethereum, Solana, Polygon, Avalanche, and TON. With this launch, institutions, developers, and individuals alike will be able to harness Sui’s state-of-the-art decentralized infrastructure for high-speed and secure digital transactions. Ika leverages the cutting-edge 2PC-MPC cryptographic framework and Sui’s unique Mysticeti consensus mechanism to address the bottlenecks inherent in current MPC networks. This combination delivers outstanding throughput, reduces latency, and guarantees scalability with zero-trust security—solidifying Ika as the backbone for a range of decentralized financial and security-focused applications on the Sui blockchain. Expanding the Boundaries of Blockchain with Programmable Bitcoin and Cross-Chain DeFi One of Ika’s key offerings is “Programmable Bitcoin,” a solution that allows native BTC on Sui to interact seamlessly with decentralized finance (DeFi) applications. This enables Bitcoin to be securely deployed in various DeFi applications, while maintaining the blockchain’s core security attributes. Ika’s capacity to facilitate programmable Bitcoin on the Sui blockchain could catalyze a new era of BTC liquidity flow into decentralized financial platforms, where Bitcoin can be employed in lending, staking, and liquidity provisioning, increasing its utility in the broader DeFi ecosystem. Ika’s infrastructure also enables cross-chain DeFi interoperability at unprecedented speed. By achieving sub-second transaction speeds, Ika effectively links liquidity across different blockchains, integrating assets from Bitcoin, Ethereum, and other ecosystems into Sui’s framework. This efficient interoperability facilitates instant, secure cross-chain transactions, providing a significant liquidity boost to Sui-based DeFi platforms and enhancing user experience across the Web3 ecosystem. Securing Digital Assets with Decentralized Custody Solutions Institutional investors and individuals…

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Filed under: News - @ October 30, 2024 1:25 pm