Ika automatically provides secure Multiparty Computation (MPC) guardrails to protect your AI applications. The announcement comes shortly after the company closed a $7 million strategic investment from the Sui Foundation. This investment brings Ika's total funding to over $21 million and highlights the company's commitment to enhancing security and decentralization within the Sui ecosystem. Ika's technology ensures that AI agents operate within secure boundaries, protecting users' assets and aligning with Sui's core values of performance, speed, and decentralization. Ika’s groundbreaking 2PC-MPC cryptographic scheme transcends conventional scaling barriers. It manages to do all this while deeply and efficiently supporting hundreds or even thousands of signers without sacrificing performance.
Ika’s MPC signing solution is the engine behind many powerful applications. These are things such as cross-chain Decentralized Finance (DeFi), decentralized custody, Chain Abstraction, AI agent guardrails, and native Bitcoin programmability. Ika makes use of innovative 2PC-MPC cryptographic scheme in combination with Sui’s Mysticeti consensus protocol. It does this to execute transactions up to 10,000x faster than existing MPC networks, all while delivering never-before-seen performance. The startup’s modular technology enables the developers building products on Sui. It abstracts the underlying challenges of multichain, providing a frictionless experience for end-users.
Scalable Security for AI on Sui
Ika’s main role is to improve generative AI apps on the Sui blockchain with secure MPC guardrails. The last part is so important. It makes certain that AI agents are not given unaccountable authority, safeguarding users’ assets from them being compromised and exploited. As the independent Ika explained, the company’s technology acts as a safety net. This fosters an agile, supportive environment where AI can complete its work safely without endangering the larger ecosystem. Sui is focused on performance, speed, and decentralization. By making this commitment, these values can stay palpable along with dynamic AI’s further inlay into the blockchain.
Conventional MPC solutions are often not scalable. They are usually limited to 4-8 nodes. Ika addresses this barrier with 2PC-MPC technology that can scale up to hundreds, and soon thousands, of signers. This featherweight scalability increases the potential for decentralization dramatically. It maintains performance, of course, which is all important to maintain the integrity and security of blockchain networks.
Ika’s architecture is very flexible to accommodate a wide range of applications, and user defined functions. These were things like cross-chain DeFi, decentralized custody, Chain Abstraction, AI agent guardrails, and native Bitcoin programmability. For developers, Ika’s versatility is what makes it a game-changer. The answers they develop will help power safe and scalable experiences in the Sui ecosystem. The company’s focus on creating new, secure, and innovative solutions has established it as a leader in the rapidly changing Web3 landscape.
Performance and Innovation
Ika's technology is built upon the novel 2PC-MPC cryptographic scheme and leverages Sui's Mysticeti consensus protocol. This unique combination helps Ika render performance beyond comparison. It exceeds breakthrough throughput record-breaking that surpasses even today’s best MPC networks by as much as 10,000x. This kind of performance is critical to enabling high-volume applications and maintaining a seamless, user-friendly experience.
With Ika’s technology, the biggest difference is this. Most importantly, it empowers the builders on Sui to make the complexity of many chains under the hood more seamless and easier for their users. With this Chain Abstraction, developers can focus on creating their application without worrying about other complexities. It liberates developers to spend more time creating cutting-edge applications rather than navigating the chaos of cross-chain interactions. This abstraction doesn’t just make for a more pleasant user experience – it drives adoption of blockchain technology in general.
Ika’s recently launched “MF Squid Market” NFT art campaign showcased high adoption by Sui users, raking in over 1.4 million SUI. This successful campaign highlights the broad demand for Ika’s secure, scalable solutions among the Sui ecosystem. It points out the promise Ika has to spark continuing and accelerating innovation and adoption of blockchain technology.
Funding, Backers, and Integrations
To date, Ika has raised upwards of $21 million in funding. As such, with a peak private valuation of $600 million FDV, it has received explosive momentum and support from the Web3 community. The company is supported by dozens of heavy-hitters, including the Sui Foundation, DCG and Big Brain Holdings. This robust support is a testament to the industry’s belief in Ika’s technology and its ability to change the landscape of secure MPC solutions.
She’s kicked off new integrations with Sui builders like Aeon, Human Tech, Atoma and Ekko — the list goes on. Together, these integrations will significantly increase the adoption of Ika’s technology. Their knowledge and experience will help the developer community to build better, smarter, safer applications on the Sui blockchain. Ika has joined forces with other major players in the Sui ecosystem. This collaboration cements its place as a leader in the secure MPC solutions.
Ika provides secure, decentralized custody solutions on the Sui blockchain for digital assets. This is an essential ingredient for building the kind of trust and security that blockchain networks need to grow and flourish. Ika empowers zero trust interoperability between blockchains, at a scale never before possible. It’s able to support hundreds of signer nodes while implementing ironclad security as a requirement. This interoperability is key to building a more connected and efficient blockchain ecosystem.
