The Kraken exchange has recently introduced a Layer-2 blockchain named Ink on the Ethereum mainnet. Originally planned for early 2025, this launch has occurred ahead of schedule. Developed utilizing Optimism’s OP Stack, Ink aims to enhance scalability and interoperability within the Ethereum ecosystem.
Ink Blockchain
According to a blog post by Kraken, the Ink Layer-2 network was launched on Wednesday, advancing the blockchain introduction by several months. Built on Optimism’s OP Stack, the network is designed as a modular framework to improve Ethereum’s scalability and interoperability.
Kraken has received a grant from the Optimism Foundation, which includes approximately 58 million OP tokens. These tokens will support the adoption and growth of Ink, allowing the platform to contribute to Optimism’s extensive “Superchain” ecosystem.
Key Partnerships and Features
The Ink Layer-2 has been launched with support from various decentralized applications, including the Curve decentralized exchange, the Frax stablecoin platform, LayerZero for interoperability, and Gelato for infrastructure support. These partnerships highlight the ecosystem’s focus on enabling diverse use cases within decentralized finance (DeFi).
By January 2025, Kraken plans to introduce permissionless proof-of-error on its Ink Layer-2. This feature will enable anyone to challenge potentially invalid transactions, enhancing the platform’s accountability.
Kraken’s Ink Layer-2 is one of the latest products developed on OP Stack for Ethereum scaling solutions. Projects like Coinbase’s Base and Sony’s Soneium joining these networks reflect the trend of major players expanding the Ethereum ecosystem.
In the midst of an ongoing lawsuit between Kraken and the SEC, the court has denied the exchange’s request for documents related to SEC policies on Bitcoin, Ether, and digital assets. The judge deemed these requests irrelevant to the SEC’s claims regarding specific crypto tokens.
The launch of Kraken’s Ink Layer-2 on the Ethereum mainnet signals the direction towards a multi-chain world. The increasingly competitive landscape may overshadow less popular layer-2 and layer-3 solutions.
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Disclaimer: The information provided in this article is not investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies, and should conduct their own research.
