Ink is a layer-2 bridge under development by Kraken with the goal of making decentralized finance (DeFi) more efficient by enhancing transaction speed, lowering costs and improving flexibility, reports Cointelegraph. The Ink Testnet will be launched during DevCon in Bangkok on Nov. 12-15, 2024, and the mainnet is scheduled for release in the first quarter of 2025.
Seamlessly integrating centralized and decentralized environments, Ink by Kraken provides users with all the necessary tools and services while mitigating common challenges associated with these environments. The solution operates on Ethereum as a layer-2 (L2) solution, easing the pressure on the layer-1 (L1) chain.
The term “L2 solutions” refers to protocols built on top of base blockchains, also called L1 blockchains, to improve their characteristics, such as scalability and privacy. These protocols take the processing of transactions from the L1 blockchain, using it solely for transaction settlement. Common L2 solutions include state channels, sidechains, optimistic rollups and zero-knowledge rollups.
Developed on Optimism’s open-source, MIT-licensed OP Stack codebase, Ink is integrated with the Ethereum ecosystem. Ink will be a component of the Optimism Superchain, a network of L2 blockchain networks that share a common development stack, security, bridging and communication layer.
Ink will enable you to use Ethereum’s tried-and-tested security while participating in a system that actively supports Ethereum’s scalability. The Optimism Superchain will facilitate interoperability throughout its ecosystem and beyond, allowing liquidity to easily move between the chains that make up the Superchain.
Recent Comments