Developers inside the Monad ecosystem will be able to build native, cross-chain DeFi apps with the help of dWallet Network.
The programmable native Bitcoin infrastructure, dWallet Network, has announced that it will soon support Monad, a Layer 1 blockchain that is compatible with EVM.
Reveled on April 30th, the newest integration utilizes dWallet technology to provide native multi-chain capabilities, further establishing Monad as the top environment for EVM builders.
The goal of this integration is to make Monad a leading EVM platform for dWallet technology and to provide developers with the scale and efficiency they need to innovate in DeFi.
Keone Hon, co-founder and CEO of Monad Labs, commented on the effort, saying, “Thanks to dWallet Network’s backing, we’re committed to offering EVM developers the greatest platform possible. With dWallet’s groundbreaking multi-chain features and our unparalleled speed and efficiency, Monad is now the go-to blockchain for DeFi development, and our developers have access to even better tools than before. When it comes to development in the DeFi realm, we are redefining what is possible.”
In order to operate the dWallet functionality, the dWallet Network uses 2PC-MPC. Their team came up with this multiparty technique that lets you make an ECDSA signature without anybody else being involved. The end user isn’t the only thing that might be involved here; hundreds, if not thousands, of nodes could be.
According to dWallet, this integration is a major step towards creating a decentralized and fully interoperable financial ecosystem. They also mentioned that developers in the Monad ecosystem will have no trouble incorporating dWallet’s native multi-chain features into their own apps. In the grand scheme of things, this change should make using various blockchain systems easier for consumers without sacrificing security or control.
The co-founder of dWallet Network, Omer Sadika, has also spoken highly of this integration, noting that the ultimate aim of the cooperation is to enable an “interconnected” DeFi environment.
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