This is the season of many new partnerships in DeFi. One partnership that has been turning heads is that of dWallet Network and Monad.
Let’s see what this strategic partnership with dWallet means for DeFi.
dWallet and Monad Come Together
dWallet network brings native multi-chain capabilities into Monad via their recent partnership. Integrating dWallet and Monad gives developers within Monad access to high-tech tools. These tools can be utilized to create native multi-chain defi applications. This integration allows you to access different blockchain protocols within the Monad ecosystem.
At the forefront of this integration is dWallet’s 2PC-MPC protocol, which provides a more decentralized method of signing transactions across different blockchain platforms. 2PC-MPC stands for Two-Party Computation—Multiparty Computation. dWallet’s team developed 2PC-MPC. With 2PC, two parties can sign a transaction in collaboration with a network node without revealing user identity. With MPC, many parties can sign transactions with multiple nodes in the network. MPC is already one of the industry standards for privacy. The combination of 2PC and MPC would generate ECDSA signatures. Many nodes and users create or sign these signatures, making it much more decentralized. The outcome is that dWallet native multi-chain applications will be private and secure.
The impact of this integration goes beyond DeFi. Integrating with Monad, dWallet is increasing its reach to one of the most reliable EVM ecosystems and interconnecting the DeFi sector for better interaction between DeFi protocols.
The Impact of This Partnership
Co-founder and CEO of Monad Labs, Keone Hon, states,
‘This support from dWallet Network is a testament to our dedication to providing the best possible platform for EVM developers. Our unmatched speed and performance, combined with dWallet’s innovative multi-chain capabilities, solidify Monad’s position as the leading blockchain for DeFi development and enhance the tools available to our developers. We are setting a new standard for what developers can achieve in the DeFi space.’
The Co-Founder of dWallet, Omer Sadika, also expressed his thoughts on this collaboration; he stated,
‘By aligning with Monad, we’re bringing our native multi-chain technology to the forefront of the fastest and most efficient EVM ecosystem. This integration is a major step forward in our mission to create an interconnected DeFi landscape, and we’re excited to see the revolutionary applications that will emerge from this.’
Conclusion
The DeFi sector is fast evolving, with innovations and partnerships coming online daily. Partnering with Monad will make DeFi more reliable and accessible. With the native multi-chain innovation, developers and users can look into building more infrastructure and protocols, further increasing DeFi’s reach.
Disclaimer
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