Ika price

$IKA

Ika is the fastest parallel MPC network, surpassing all other MPC networks in latency, throughput, decentralization, and zero-trust security. Ika enables a new blockchain primitive - the dWallet - a decentralized, zero-trust, programmable, and transferable signing mechanism.

dWallets can be used by Sui builders to disrupt many categories like custody, Bitcoin programmability, and interoperable DeFi, but they also open up completely new and novel use cases such as an account marketplace or collateralizing entire accounts.

With dWallets, Ika turns Sui into the definitive coordination layer for all of Web3, where every native asset on any chain can be directly accessed and coordinated by a Sui smart contract, without requiring bridging or wrapping. Ika leverages Sui’s unmatched speed and performance, and improves the overall security and scalability of the ecosystem by adding the best MPC technology to the fastest-growing L1.

Ika’s 2PC-MPC cryptography scheme introduces a new model for threshold signatures, offering speed, scalability, zero-trust security, and decentralization. It eliminates the constraints of legacy MPC models, providing a network that can scale to hundreds or even thousands of nodes while maintaining zero-trust and delivering unrivaled performance. 2PC-MPC supports ECDSA and EdDSA/Schnorr signatures, allowing it to be compatible with almost every existing blockchain.

Ika’s 2PC-MPC scheme contains multiple cryptography breakthroughs, and its novel use of zero-knowledge proofs and homomorphic encryption allows it to eliminate the current trade-offs MPC networks must work within:

1.⁠ ⁠Decentralization - 2PC-MPC allows for hundreds, and potentially even thousands, of MPC operators without materially degrading the performance. 2.⁠ ⁠⁠Speed - 2PC-MPC allows many operators to generate signatures with sub-second latency, shattering the existing state-of-the-art for threshold signatures. 3.⁠ ⁠⁠Throughput - 2PC-MPC parallel execution unlocks potentially infinite scalability, supporting many thousands of signatures per second as operators scale with demand. 4.⁠ ⁠⁠Zero-Trust Security - 2PC-MPC enables a dual-share mechanism (user share and network share) enforcing zero-trust security, where the user is cryptographically required for transactions to be signed.

This model is especially crucial for decentralized custody solutions, where security is paramount. By ensuring that user assets are safe even if parts of the network become compromised, Ika delivers a level of security beyond what traditional decentralized networks can offer. Users can trust that their assets remain secure, regardless of any internal threats within the network. Ika also enables importing existing keys, so institutional users can retain a backup of the full key controlling their assets, while still implementing on-chain policies for their business needs and their customers’ needs.