Okto is one of the largest platforms in Web3 with over 17mn+ wallets operating across a multitude of blockchains ecosystems. Okto serves as a specialized wallet infrastructure provider, designed to simplify the way people build and interact with blockchain applications by abstracting complexities such as chains, liquidity, and gas. It focusses on a strategy that hides the complexities of different chains and makes Web3 experiences as intuitive as browsing the web.
At the heart of Okto’s user experience is something called a Decentralized Wallet Network (DWN). Using multiple wallets across different blockchains can be a headache and the DWN is designed to fix this by giving the user a single, unified wallet that automatically works with multiple chains—whether it’s Ethereum, Solana, Aptos, or more.
The DWN does this using delegated MPC signers—a network of decentralized nodes that handle wallet keys securely. These MPC signers can in future be connected to re-staking networks for additional Crypto-economic security and incentive alignment
The DWN is right at the cutting edge of MPC technology requiring an ultra-fast MPC-TSS algorithm with the ability to be flexible enough to work across multiple chains and be deployed in a vast variety of infrastructure set ups (on the nodes are independently managed).
“When we looked at the current set of MPC providers, Silence stood out from the start with their implementation of the DKLS23 algorithm, which was an order of magnitude faster than anything else in the market. Moreover their innovative enhancements to the core MPC protocol like Identifiable Abort (used in identifying cheating parties) made them the obvious choice when building out a Decentralized MPC network with independent parties” says Rohit Jain, Head of DeFi Initiatives at CoinDCX and Okto.
The DWN network has a 2,3 threshold structure, which means that out of the 3 nodes managing the signing process, a threshold of 2 must collaborate to approve a transaction. This decentralized structure ensures that no single entity, including Okto, has unilateral control over signing. Okto deals with a large volume of customers, which makes Silence’s lightning-fast MPC essential for a great user experience.
“Building this network was a technical challenge and we are delighted to have a partner like Silence Laboratories, which had both deep expertise in cryptography and the vision and flexibility needed to develop something unique” , Rohit Jain, Head of DeFi Initiatives at CoinDCX and Okto.
