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Dubai, UAE, April 9, 2024, Chainwire
dWallet Network, a pioneer in decentralized, native multi-chain technology, and Mysten Labs, a Web3 infrastructure company and original Sui contributor, announced their strategic partnership focused on bringing multi-chain interoperability to DeFi ecosystem focused on Sui. the groundbreaking Layer 1 and smart contract platform. By integrating the dWallet primitive, Sui-based applications can sign transactions on and open new cross-chain experiences on Sui.
Known for its secure, high-throughput, low-latency blockchain capabilities, Sui leverages the Move smart contract language to provide developers with a robust and secure platform for building sophisticated applications while maintaining extremely low and consistent gas fees. By partnering with dWallet Network, Sui is now able to leverage dWallet's native, non-collusive and decentralized technology, enabling seamless cross-chain interactions within its ecosystem. This collaboration is particularly important for DeFi initiatives on Sui as it gives them the unprecedented ability to include native BTC and ETH transactions, a milestone in blockchain interoperability and functionality.
To implement the dWallet primitive, the dWallet network uses 2PC-MPC, the cutting-edge protocol invented by its team. This industry-first multi-party protocol enables the generation of an ECDSA signature in a non-collusive manner and requires the participation of both the end user and a significant number of nodes, the number of which could potentially reach hundreds or thousands.
Omer Sadika, co-founder of dWallet Network, expressed excitement about the partnership, stating: “We are excited to partner with Mysten Labs and bring our decentralized, non-collusive dWallet building block to the Sui ecosystem. This partnership not only expands the horizons for DeFi and gaming on Sui, but also represents a significant step towards realizing our vision of a seamless multi-chain future.”
An exciting aspect of this partnership is the use of dWallets in conjunction with Sui's zkLogin feature, which provides a simplified Web2 user experience for managing assets across blockchains, including Bitcoin and Ethereum. This innovative approach leverages the simplicity of Web2 logins like Google (NASDAQ:) accounts to interact with any asset on any blockchain, reducing barriers to entry for users and enabling mass adoption of blockchain technology.
Furthermore, the collaboration goes beyond technical integration: dWallet Network and the Sui Foundation are co-hosting the Overflow hackathon. This event highlights both projects' commitment to promoting innovation, community engagement and the development of cutting-edge applications within the Sui ecosystem.
“Interoperability is key to the growth of blockchain-based applications. The introduction of dWallet’s innovative tools will enable users in the Sui ecosystem to work seamlessly across different protocols,” said Evan Cheng, CEO and co-founder of Mysten Labs, an original Sui contributor. “We are excited to create a multichain future with dWallet.”
The strategic alliance between Mysten Labs and dWallet Network represents a significant milestone and promises to bring unprecedented flexibility, security and efficiency to multichain DeFi and gaming. As this partnership unfolds, it is intended to drive innovation and accelerate adoption, open new avenues for developers, and provide users with richer, more diverse blockchain experiences.
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About Mysten Labs
Mysten Labs is a team of leading experts in distributed systems, programming languages and cryptography, whose founders were senior executives and lead architects of groundbreaking blockchain projects. Mysten Labs' mission is to create a foundational infrastructure for web3.
Users can learn more here.
About Sui
Sui is a unique Layer 1 blockchain and smart contract platform designed from the ground up to make owning digital assets fast, private, secure and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, split-second finality, and large-scale on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications at unrivaled speed and low cost. Sui is a gradual evolution of blockchain and a platform where creators and developers can create amazing, user-friendly experiences.
Users can learn more here.
Via the dWallet network
The dWallet network is home to dWallets – programmable and transferable signature mechanisms that live on-chain. The dWallet network enables developers on L1s and L2s to use dWallets as a building block for managing assets and enforcing logic across Web3 in a decentralized and non-collusive manner.
ContactMarketing ManagerSiva SagirajudWallet Network[email protected]
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