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Kraken launches Layer 2 ‘Ink’ blockchain powered by Optimism months ahead of schedule
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THE Kraken cryptocurrency exchange announced the early launch of its Layer 2 blockchain called Ink on mainnet. Initially scheduled for the beginning of 2025, Kraken managed to bring the launch forward “months ahead of schedule”.
As per the advertisement, Ink uses technology Optimism Superchaina customizable framework for building scaling solutions on the Ethereum network. This ensures that the Ink will be interoperable with other networks built with the same framework, such as Basefrom Coinbase, and Soneiumfrom Sony.
Ink’s launch partners include recognized projects in the decentralized finance (DeFi) ecosystem, such as the decentralized exchange protocol Curvethe stablecoin platform Fraxthe infrastructure provider Gelato and the interoperability protocol LayerZero.
Additionally, Kraken plans to take Ink into what it calls “Stage 1 decentralization” starting in January 2025. At this point, the exchange intends to introduce permissionless failure proofing. This mechanism will allow any user dispute potentially invalid transactions. In practice, this promotes greater transparency and accountability within the blockchain ecosystem.
Kraken launches layer 2 Ink
The launch of Ink marks Kraken’s entry into the growing Layer 2 blockchain market, following the movement of competitors such as Coinbasewhich launched the Base, and the Uniswapwhich announced the development of its own solution. Kraken also joins other networks built on Optimism’s technology, such as World Chainstrengthening the use of OPStack in the sector.
To support the development of Ink, Kraken received a grant 25 million OP tokens from the Optimism Foundation.
In the statement, Kraken stated that Ink represents a commitment to make cryptocurrencies more accessible. The company also highlighted the objective of eliminating friction points that hinder the transition between the centralized and decentralized worlds.
The launch takes place at a time of reorganization in the company. In October, Kraken announced a restructuring that included staff cuts, simplified management and the hiring of a co-CEO, Arjun Sethi.
Kraken launches Layer 2 ‘Ink’ blockchain powered by Optimism months ahead of schedule
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Kraken launches Layer 2 ‘Ink’ blockchain powered by Optimism months ahead of schedule
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Kraken launches Layer 2 ‘Ink’ blockchain powered by Optimism months ahead of schedule
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Kraken launches Layer 2 ‘Ink’ blockchain powered by Optimism months ahead of schedule
