what does bridgeless capital markets mean?
how can a
@solana program control assets on other chains?
the answer lies in the dWallet primitive, and the 2PC-MPC protocol that is the heart of
@ikadotxyz
a dWallet has an address on any network and can sign transactions on those networks
for a signature to be generated, the user and a 2/3 threshold of the ika network nodes are cryptographically required, that's the core of the 2PC-MPC protocol - it's a 2 party computation (user network), where the 2nd party (the network) is actually a nested multi party computation between the ika nodes
the user part means a dWallet is not custodial, the user doesn't trust the ika network, and even if the entire network is compromised, a signature cannot be generated without the user
the network part means a solana program can determine whether a signature is generated, so custody and interoperability logic can be enforced on any asset and any chain. no need for bridges, a solana program can operate with any native asset without wrapping, fragmentation and bridge risk
besides this novel zero-trust structure we achieved breakthroughs with our cryptography research allowing us to dramatically reduce latency, increase throughput, scalability and support more pariticipants than other threshold signature algorithms (for comparison, ika has over 70 participants an can scale to 100s, while the near mpc network has about 8 participants)
the end result is the only fast, scalable and decentralized solution that also gives users cryptographic zero-trust guarantees - packaged as developer infra, for building novel custody and interoperability use cases
btw fun fact: 2PC-MPC uses threshold homomorphic encryption to support this nested approach, where the threshold of ika nodes compute the partial signature homomorphically. we did a lot of research on FHE, which led to
@encrypt_xyz and encrypted capital markets