CandleFocus Kraken hopes to coax more users to DeFi with blockchain Ink
2024-11-01
Author: Content Editor
Kraken, a centralized cryptocurrency exchange, is launching its own blockchain network called Ink in 2025. The Ethereum Layer 2 (L2) blockchain will provide permissionless access to decentralized finance (DeFi) applications, such as trading and lending services, without intermediaries. The goal is to onboard new users into DeFi by making it easier to access and transfer assets. Ink will be part of the Optimism Superchain, enabling seamless communication and scalability across networks. The network will offer a developer testnet in 2024 and is expected to have over a dozen DApps available at launch. Initially, Kraken will act as Ink's sequencer, but the function will eventually be decentralized. In October, Kraken also opened a derivatives trading platform in Bermuda.
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