Kraken has successfully launched its Ink Layer-2 blockchain on the Ethereum mainnet, earlier than the initially planned timeline of early 2025. This development utilizes Optimism’s OP Stack technology, aiming to enhance scalability and interoperability within Ethereum’s ecosystem.
What is the Ink Layer-2 Network?
The Ink Layer-2 network was officially introduced on Wednesday, advancing its launch by several months. Built upon the modular framework of Optimism’s OP Stack, Ink is designed to improve Ethereum’s scalability and application versatility.
Who Supports Ink’s Growth?
Kraken has partnered with the Optimism Foundation, securing around 58 million OP tokens to bolster Ink’s adoption and integration into the broader “Superchain” ecosystem. The launch also features support from various decentralized applications, including Curve and Frax, which underscores the network’s commitment to decentralized finance (DeFi) versatility.
Significant aspects of Kraken’s Ink Layer-2 launch include:
- Initial support from decentralized applications like Curve and Frax.
- Integration of features such as permissionless proof-of-error by January 2025.
- Collaboration with key players enhancing user experience and liquidity.
As Kraken pushes forward with Ink, the exchange aims to set new standards for on-chain experiences while addressing ongoing legal challenges with the SEC regarding digital asset policies. The launch signifies a pivotal moment in the competitive landscape of Ethereum’s expanding ecosystem.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
