Ika

Ika is a parallel MPC network that enables smart contracts on one chain, such as Sui, to generate signatures on other chains like Bitcoin and Ethereum. Its core technology, 2PC-MPC, splits signing authority between the user and a decentralized network of over 100 operators, achieving sub-second latency and high throughput without any single party holding the full private key. This eliminates the need for wrapped tokens or bridge infrastructure. The main market pain point is that existing cross-chain solutions rely on trusted bridges or custodians, creating security risks and liquidity fragmentation. Ika solves this by allowing native assets to be used directly across chains while maintaining zero-trust security. In the past six months, Ika launched its mainnet in July 2026, introduced the Wallet-as-a-Protocol (WaaP) initiative in February 2026 to support embedded wallets, and has been focusing on Bitcoin DeFi integration. However, the technology is complex, and adoption remains early, with the ecosystem still developing. No major negative events were reported, but the project faces competition from established bridge protocols.