Kraken, a big name in crypto trading, is getting ready to launch its own blockchain called Ink. It’s set to debut in early 2025.
What’s Ink All About?
Ink is designed to be a platform for decentralized applications (dApps). Think of it as a place where people can trade, borrow, and lend crypto without needing a middleman. Kraken is aiming to create a super-friendly environment for DeFi (decentralized finance) applications.
Ink’s Tech and Goals
Ink is built on a technology similar to Coinbase’s Base, which has become a big player in the DeFi world. It’s designed to work with Ethereum, a popular blockchain, and will be part of a network called the Superchain. This network shares security and governance standards across different blockchains.
Kraken’s founder, Andrew Koller, says Ink is special because it’s the only blockchain backed by a major Western exchange. He wants Ink to be a place where everyone can access the benefits of DeFi, with a focus on community involvement and innovation.
What’s Next for Ink?
Ink is expected to launch with a bunch of applications, including decentralized exchanges. Koller thinks it could eventually support real-world assets (RWAs) and advanced lending.
Kraken will initially be in charge of managing transactions on Ink, but Koller says this role will eventually be shared by multiple parties.
Kraken’s Plans and the Future
Kraken has a team of 40 people working on Ink and is planning events for developers. They’re also looking at a possible IPO, but like many crypto companies, they’re keeping an eye on US regulations. The future of Ink, and Kraken itself, could be influenced by changes in those regulations.
