Kraken is gearing up to introduce its own blockchain, Ink, in early 2025. The new platform will support dApps for trading, borrowing, and lending without the need for intermediaries.
Ink will be a Layer-2 blockchain powered by Optimism’s OP Stack. This is the same technology that powers Coinbase’s Base, which has grown into one of the leading DeFi platforms since its launch.
Kraken is Following the Footsteps of Binance and Coinbase
In an interview with Bloomberg, Andrew Koller, the founder of Ink, mentioned that a test version of the network will go live later this year. It will provide exclusive early access to the developers.
Initially, Kraken will handle the role of the chain’s sequencer, managing transactions and generating revenue through this process. Over time, this responsibility will be decentralized and distributed among multiple participants.
Read More: Kraken Fees vs. Binance Fees vs. Coinbase Fees: A Detailed Comparison
“I’m sure they’re going to decentralize their sequencer, giving up sub-second block times and MEV revenue, and get to L2 Stage 2 as soon as possible. The unfragmented, harmonized rollup-centric roadmap is coming together exactly as planned!” crypto entrepreneur Matt Henderson wrote in an X post (formerly Twitter).
Several major crypto exchanges have developed their own blockchains, following the success of Binance, the largest digital-asset exchange. Binance’s BNB Chain and its associated token have gained significant traction globally.
Coinbase’s entry into the space wit
Go to Source to See Full Article
Author: Mohammad Shahid
