Ika (ex. dWallet network) IKAPrice $ 0.0332

Ika is a decentralized infrastructure designed to enable secure, low-latency interoperability between blockchains. It operates a distributed network of signers that use a cryptographic protocol called 2PC-MPC (Two-Party Computation and Multi-Party Computation) to jointly manage cryptographic keys without reconstructing them at any point. Through this method, Ika provides the ability to sign transactions across multiple blockchains while maintaining the security assumptions of decentralized systems. It leverages a DAG-based Byzantine Fault Tolerant consensus protocol (Mysticeti) for communication among nodes, ensuring efficient and scalable coordination of operations across the network. Ika's architecture eliminates reliance on trusted intermediaries and supports asynchronous, fault-tolerant transaction processing.

At the core of Ika’s system are dWallets, a programmable primitive that manages accounts and assets across different blockchains without centralized custody. Each dWallet splits its signing authority across the Ika network and optionally the user, enforcing transaction logic programmatically through smart contracts. Ika integrates with existing blockchain ecosystems by verifying the state of smart contracts before authorizing operations, allowing assets on chains like Bitcoin, Ethereum, and Solana to be controlled according to external programmatic rules. The system is secured economically by a Proof-of-Stake model where participants stake tokens to operate nodes and participate in signing processes, and its design emphasizes minimizing the risks associated with collusion, key compromise, and performance bottlenecks.