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dWallet Network brings multi-chain DeFi to Sui, featuring native Bitcoin and Ethereum

dWallet Network brings multi-chain DeFi to Sui, featuring native Bitcoin and Ethereum

Dubai, UAE, April 9th, 2024, Chainwire

dWallet Network, a trailblazer in decentralized, native multi-chain technology, and Mysten Labs, a Web3 infrastructure company and the original contributor to Sui, announced their strategic partnership, focusing on the introduction of multi-chain interoperability into the DeFi ecosystem on Sui, the groundbreaking Layer 1 and smart contract platform. With the integration of the dWallet primitive, applications built on Sui can sign transactions on Bitcoin and Ethereum, opening up new cross-chain experiences on Sui.

Sui is renowned for its secure, high-throughput, and low-latency blockchain capabilities, utilizing the Move smart contract language to offer developers a robust and secure platform for building sophisticated applications, all while maintaining extremely low and consistent gas fees. Through the partnership with dWallet Network, Sui is now poised to harness native, non-collusive, and decentralized dWallet technology, enabling seamless cross-chain interactions within its ecosystem. This collaboration is particularly significant for DeFi initiatives on Sui, providing them with 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 utilizes 2PC-MPC, the state-of-the-art protocol invented by its team. This industry-first multiparty protocol enables the generation of an ECDSA signature in a non-collusive way, requiring participation from 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 his 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 broadens the horizons for DeFi and gaming on Sui but also represents a significant leap 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, offering 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…

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