Dubai, United Arab Emirates, April 9, 2024, Chainwire
d wallet network, a pioneer in decentralized native multi-chain technology, and Misten Institute, a Web3 infrastructure company, and Sui announced a strategic partnership focused on bringing multi-chain interoperability to the DeFi ecosystem on Sui, a groundbreaking layer-1 and smart contract platform. The integration of the dWallet primitive enables applications built on Sui to sign transactions on Bitcoin and Ethereum, opening up new cross-chain experiences on Sui.
Sui is known for its secure, high-throughput, and low-latency blockchain capabilities and leverages the Move smart contract language to provide developers with a robust and secure platform to build sophisticated applications while keeping gas prices very low and consistent. Through its partnership with dWallet Network, Sui is now ready to leverage native, non-collusive, decentralized dWallet technology and enable seamless cross-chain interactions within its ecosystem. This collaboration is particularly important for his DeFi initiative at Sui, providing unprecedented ability to incorporate native BTC and ETH transactions and marking a milestone in blockchain interoperability and functionality.
To implement the dWallet primitive, the dWallet Network uses 2PC-MPC, a cutting-edge protocol invented by its team. This industry-first multiparty protocol allows ECDSA signing to be done in a non-collusive manner and requires the participation of both end users and a significant number of nodes (their number can reach hundreds or thousands).
Omer Sadika, co-founder of dWallet Network, expressed his excitement about the partnership and said: This partnership not only expands the horizons of gaming in DeFi and Sui but also represents a huge leap toward realizing our vision of a seamless multi-chain future.
What’s interesting about this partnership is that dWallet will be used in conjunction with Sui’s zkLogin functionality to provide a simplified Web2 user experience for managing assets across blockchains, including Bitcoin and Ethereum. This innovative approach leverages the ease of Web2 logins like Google Accounts to interact with any asset on any blockchain, reducing barriers to entry for users and enabling mass adoption of blockchain technology.
Additionally, collaboration extends beyond technology integration, with dWallet Network and Sui Foundation co-hosting the Overflow hackathon. The event highlights both projects’ commitment to fostering innovation, community engagement, and the development of cutting-edge applications within the Sui ecosystem.
“Interoperability is key to the growth of blockchain-powered applications. With the introduction of dWallet’s innovative tools, users of the Sui ecosystem will be able to seamlessly operate across disparate protocols.” said Evan Cheng, CEO and co-founder of Mysten Labs, the first contributor. “We are excited to join dWallet and create a multi-chain future.”
Mysten Labs’ strategic partnership with dWallet Network marks an important milestone and promises to bring unprecedented flexibility, security, and efficiency to multi-chain DeFi and gaming. As this partnership unfolds, it will foster innovation and accelerate adoption, open new avenues for developers, and provide richer and more diverse blockchain experiences for users.
For media inquiries, please contact us at:
mystenlabspr@mgroupsc.com
siva@dwalletlabs.com
About Misten Lab
Misten Institute is a team of leading experts in distributed systems, programming languages, and cryptography, and its founders were senior executives and lead architects of pioneering blockchain projects. Mysten Labs’ mission is to create the foundational infrastructure for Web3.
Users can learn more here.
About Sui
Sui is a first-of-its-kind layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone. An object-centric model based on the Move programming language enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications at low cost and unmatched speed. Sui is a step-function advancement in blockchain and a platform that allows creators and developers to build amazing user-friendly experiences.
Users can learn more here.
About dWallet Network
d wallet network Home of dWallets. dWallets are programmable, transferable signature mechanisms that exist on-chain. dWallet Network enables L1 and L2 builders to leverage dWallet as a building block for managing assets and applying logic across Web3 in a decentralized and non-collusive manner.
contact
marketing lead
Shiva Sagiraju
d wallet network
siva@dwalletlabs.com
Source: www.the-blockchain.com
