Ika, the world's fastest parallel MPC network, is about to launch on the Sui Blockchain and recently revealed receiving strategic investment from the Sui Foundation. Previously, it successfully completed a record-breaking 1.4 million SUI Non-Fungible Token art activity on Sui. Ika is the first to achieve a sub-second MPC network, capable of zero-trust interoperability between blockchains at an unprecedented scale, covering hundreds of signature nodes and providing rock-solid security.
Ika is highly aligned with Sui's core values of performance, speed, and decentralization. With its upcoming launch on the Sui Blockchain, Ika will bring its unparalleled MPC technology to Sui Move smart contract developers, enabling secure interoperability across Web3 domains. This consolidates Sui's leading position in cross-chain DeFi, decentralized custody, chain abstraction, AI agent protection, and native Bitcoin programmability, utilizing the first truly scalable and secure MPC signature solution.
Ika: Setting a New Benchmark for MPC Technology
Ika uses a novel 2PC-MPC cryptographic scheme and Sui's Mysticeti consensus protocol to address key limitations in existing MPC networks, providing unprecedented performance:
Record-breaking Throughput: Ika can process transaction volumes 10,000 times that of current MPC networks, supporting unprecedented transaction volumes.
Extremely Low Latency: Traditional networks may have delays of 30 seconds or more, while Ika can generate signatures at sub-second speeds, enabling real-time cross-chain applications.
Extreme Scalability: Ika goes beyond the typical 4-8 node limitation, with 2PC-MPC capable of scaling to hundreds or even thousands of signers, enhancing decentralization without compromising performance.
Zero-Trust Security: Ika's architecture ensures user assets remain secure even in the worst-case scenario, setting a new standard for decentralized security.
Ika's Application Scenarios: Game Changer for Web3
Ika's ultra-fast MPC network powers multiple applications on the Sui Blockchain, with several Sui developers already beginning to build using Ika, including:
DeFi Interoperability: Ika's sub-second speed and scalability make instant and secure operations possible across all Web3 ecosystems, bringing liquidity from chains like Bitcoin and Ethereum into Sui. Sui developers Full Sail and Rhei have announced upcoming utilization of Ika.
Decentralized Custody: Ika provides a secure decentralized custody solution for digital assets on the Sui Blockchain, offering unparalleled security for institutional and individual users. Sui developers Aeon and Human Tech have announced upcoming integration of Ika.
Chain Abstraction: Ika allows Sui developers to abstract the complexity of multiple chains for users, combining with features like zkLogin to provide a perfect user experience. Sui developers Covault and Lucky Kat have announced upcoming integration of Ika.
Programmable Bitcoin: Ika unlocks new possibilities for native BTC on Sui, supporting programmable and secure DeFi and custody. Sui developers Native and Nativerse have announced upcoming utilization of Ika.
AI Agent Protection: Ika enhances AI applications on Sui by providing secure MPC protection, ensuring AI agents do not have completely unchecked power and protecting user assets. Sui developers Atoma and Ekko have announced upcoming utilization of Ika.
Vision Supported by Industry Leaders, Community Endorsement
The Sui Foundation's strategic investment in Ika emphasizes Sui's commitment to promoting cutting-edge technology to advance its high-performance and decentralized mission. This strengthens technological synergy within the Sui ecosystem, positioning Sui and Ika at the forefront of the Web3 revolution, jointly driving the future of secure, scalable, and decentralized infrastructure.
Ika has raised over $21 million, with a peak private valuation of $600 million FDV, supported by numerous key players in the Web3 domain, including Sui Foundation, DCG, Brain Holdings, Blockchange, Node Capital, Amplify Partners, Liquid2 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, and others.
Ika has also demonstrated strong adoption by Sui users, launching the "MF Squid Market" Non-Fungible Token art activity, the largest and most successful NFT event in Sui's history, generating over 1.4 million SUI and creating a powerful and active grassroots community.
The IKA token will soon be natively launched on the Sui Blockchain, unlocking new decentralized security features and utility. As the native token of the Ika MPC network, IKA will play a crucial role in driving its ultra-fast, scalable infrastructure, serving as a means of payment for MPC signature services to enable seamless transactions in the Web3 space. By leveraging Sui's unparalleled speed and performance, Ika enhances the security and scalability of the entire ecosystem, combining the most promising MPC technology in blockchain with the fastest-growing L1 in Web3.
About Ika
Ika is the fastest parallel MPC network, offering sub-second latency, unprecedented scale and decentralization, and zero-trust security. As the preferred solution for interoperability, decentralized custody, and chain abstraction, Ika will revolutionize digital asset security and multi-chain DeFi. Users can learn more here.
About Sui
Sui is the first Layer 1 blockchain and smart contract platform designed from the ground up to make digital asset ownership fast, private, secure, and accessible to everyone. Based on the Move programming language, its object-oriented model supports parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications, providing services at unparalleled speed and low cost. Sui is a breakthrough in blockchain, a platform for creators and developers to build outstanding user-friendly experiences. Users can learn more here: https://sui.io
