Ika, an ultra-fast parallel multi-party computation (MPC) network, will soon be available on Sui . Ika recently completed an NFT art event on Sui that consumed 1.4 million SUI, setting a record for the Sui blockchain, and announced a strategic investment from the Sui Foundation. Ika is the first sub-second MPC network that enables zero-trust interoperability between different blockchains, spans hundreds of signature nodes, and provides high security.
Ika aligns with Sui’s core values of maintaining performance, speed, and decentralization. With Ika’s launch on Sui, Ika will leverage its MPC technology to provide Sui’s Move smart contract developers with secure interoperability across all Web3 platforms. By leveraging the first truly scalable and secure MPC signature solution, Sui will solidify its position as a leading solution in cross-chain DeFi, decentralized custody, chain abstraction, AI agent constraints, native Bitcoin programmability, and more.
Ika: Setting a new benchmark in MPC technology
Ika uses the innovative 2PC-MPC encryption scheme and Suis Mysticeti consensus protocol to break through the key limitations of existing MPC networks and achieve better performance:
Breakthrough Throughput : Ika can scalably process 10,000 times more transactions than existing MPC networks, a major breakthrough.
Extremely low latency : The latency of traditional networks may reach 30 seconds or even longer, while Ika can generate signatures at sub-second speeds, thus supporting cross-chain real-time applications.
Extremely high scalability : Ika breaks through the typical 4-8 node limit, and its 2 PC-MPC can scale to hundreds or even thousands of signers, enhancing decentralization without affecting performance.
Zero Trust Security : Ika’s architecture ensures the safety of user assets even in the worst-case scenario, setting a new benchmark for decentralized security.
Ika’s Use Case: A Web3 Game Changer
Ikas ultra-fast MPC network powers many applications on Sui, and many Sui projects have built on Ikas technology, including:
DeFi Interoperability : Ika’s sub-second speed and scalability enable all Web3 ecosystems to operate instantly and securely, bringing liquidity from blockchains like Bitcoin and Ethereum to Sui. Projects Full Sail and Rhei on Sui have announced that they will soon be using Ika to launch their products.
Decentralized Custody : Ika provides a secure, decentralized custody solution for digital assets on Sui, bringing extremely high security to institutions and individual users. Sui projects Aeon and Human Tech have announced that they will integrate Ika into their technology.
Chain abstraction : Ika allows projects on Sui to abstract the complexity of multiple chains for users, and combines with other Sui features such as zkLogin to provide a better user experience. Projects on Sui, Covault and Lucky Kat, have announced that they will soon integrate Ika into their technology.
Programmable Bitcoin : Ika opens new possibilities for native BTC on Sui through programmable and secure DeFi and custody capabilities. Nativse, a project on Sui, has announced that they will soon be using Ika to launch their product.
AI Agent Constraints : Ika constrains AI applications on Sui by providing secure MPC constraints, ensuring that AI agents do not have completely unconstrained power, thereby protecting users assets. Projects on Sui, Atoma and Ekko , have announced that they will soon use Ika to launch their products.
Backed by industry leaders and embraced by the community
The Sui Foundations strategic investment in Ika demonstrates Suis commitment to fostering cutting-edge technologies to advance its high-performance and decentralized mission. This will help enhance the technical synergy within the Sui ecosystem, placing both Sui and Ika at the forefront of the Web3 revolution and driving the future development of secure, scalable, decentralized infrastructure.
Ika has raised over $21 million in funding, with its highest private valuation reaching $600 million, and has been supported by dozens of well-known VCs in the Web3 field, including Sui Foundation , DCG , Big Brain Holdings , Blockchange , Node Capital , Amplify Partners , Liquid 2 Ventures , FalconX , Tykhe Block Ventures , Lightshift , Token Bay Capital , Collider , Zero Knowledge Ventures , NoLimit Holdings , Rubik Ventures , Dispersion Capital , Insignius Capital , Impatient Ventures , Cerulean Ventures , Earl Grey Capital , HDI Ventures , Flowdesk , TPC Ventures , Purechain Capital , Solr DAO , Heroic Ventures , Naval Ravikant , NotVCs , G-20 Group , Artifact Capital , DSRV , Encapsulate , etc.
Sui users have a high acceptance of Ika. The MF Squid Market NFT art event initiated by Ika is the largest NFT event in Suis history, consuming more than 1.4 million SUI and building a strong and active community in the process.
The IKA token will soon be natively issued on Sui and unlock new features and utility in the decentralized security space. As Suis native token, IKA will play a key role in driving its ultra-fast, scalable infrastructure in the Ika multi-party computation (MPC) network, and serve as a channel for paying for MPC signature services, enabling seamless transactions across the Web3 space. By leveraging Suis speed and performance, Ika is able to enhance the overall security and scalability of the ecosystem, bringing the most promising multi-party computation (MPC) technology in blockchain to the fastest growing Layer 1 in Web3.
About Ika
Ika is an ultra-fast parallel MPC network that provides sub-second latency, strong scalability, high decentralization, and zero-trust security. As the first choice in interoperability, decentralized custody, and chain abstraction, Ika is committed to revolutionizing digital asset security and multi-chain DeFi. Users can click here to learn more.
About Sui
Sui is a Layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone. Sui is based on the Move programming language, and its object-centric model supports parallel execution, sub-second finality, and rich on-chain assets. With its horizontally scalable processing and storage capabilities, Sui supports a wide range of applications at extremely fast speeds and low costs. Sui is a leap forward in blockchain technology and a platform that enables creators and developers to build outstanding and user-friendly projects. Users can visit https://sui.io for more information.
