As a seasoned crypto investor with over a decade of experience under my belt, I find Kraken’s foray into blockchain development intriguing. Having witnessed the rise and fall of numerous projects, I must admit that I have grown somewhat skeptical about new entrants in this space. However, Kraken’s announcement has sparked a glimmer of hope, given its established reputation and longevity in the crypto market.
According to a Thursday report by Bloomberg, Kraken, a well-known cryptocurrency trading platform, is preparing to debut its own blockchain, which they’ve named “Ink.
The report says that a 40-strong team is currently busy working on this chain.
The process is expected to emulate a similar approach taken by its main competitor, Coinbase, who made their Base blockchain accessible to the general public back in August.
Based on information from DefiLlama, it’s worth noting that Base ranks fifth in terms of total value locked among all blockchains, with Ethereum, Tron, Solana, and Binance Smart Chain holding the top four spots.
According to a Bloomberg report, it’s expected that Ink’s test network will launch at the beginning of next year. This test network is planned to be accessible to the public during the first quarter of 2025.
The blockchain is often presented as straightforward and user-friendly, with the aim of making decentralized finance (DeFi) easier for everyday people to understand and use.
At first, the blockchain will provide decentralized trading platforms (DEXs) along with a few aggregators. Over time, the range of accessible applications on this platform is expected to grow.
Kraken, established as early as 2011, is indeed among the most veteran platforms for trading cryptocurrencies available today.
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2024-10-24 18:20