Kraken, one of the world’s well-known stock exchanges, will launch its own blockchain as of next year. The blockchain, which will be called Ink, will simplify decentralised finance transactions and enable users to make easy transactions. These transactions will include buying and selling, borrowing and lending.

The test network of the second layer chain will be launched this year and developers will be able to run applications on the chain.

As it will be remembered, the Coinbase exchange also launched a similar blockchain system called Base, which is also a layer 2 network. The transaction volume of the Base network increased by more than 300 per cent in the second quarter of this year.

There will be no token

Ink founder Andrew Koller stated that they expect the blockchain to be launched in the first quarter of 2025. Koller also said that unlike many blockchains, Ink will not have a token.

Users will be able to generate income through DeFi products and at the same time, they will be able to perform many transactions without paying much transaction fees.