As a seasoned crypto investor with a knack for spotting promising projects, I find the launch of Ink Chain, backed by Kraken and optimized for DeFi applications, quite intriguing. Having witnessed the meteoric rise and fall of several projects in the past, I can’t help but be cautiously optimistic about this one.
The Optimism-based layer-2 blockchain, known as Ink, created by Kraken cryptocurrency exchange, has officially gone live, with RedStone serving as an official collaborator in its oracle services.
The Ink Chain’s main network was officially launched on December 18, coming into existence much earlier than initially anticipated, which was set for Q1, 2025. RedStone publicly acknowledged its partnership with Ink in a press statement, highlighting that it has been chosen as the primary partner for decentralized finance solutions.
Through this collaboration, we’ll use RedStone’s flexible system design to supply live pricing information from various sources. RedStone empowers users to engage safely and effectively with reliable, real-time data within the Decentralized Finance (DeFi) sector, including Bitcoin (BTC) staking operations.
Supported by Arrington Capital, RedStone’s oracle system delivers cross-chain data sources throughout the Ethereum, Avalanche, and Polygon networks. This network employs Arweave, a decentralized data archive, for long-term data storage, thereby boosting its dependability.
Instead of saying “Ink’s blockchain architecture,” we can rephrase it as “the design of Ink’s blockchain.” This architecture is specifically tailored for quicker block generation times, lower transaction costs, and strong interoperability among other on-chain protocols. In the context of Ethereum’s scaling solutions, Ink’s infrastructure serves to seamlessly connect Ethereum and decentralized finance networks effectively.
Through ink, engineers can develop the future generation of Decentralized Finance (DeFi) tools and systems. By partnering with RedStone, developers gain access to trustworthy data, tailored solutions, and BTCfi data feeds. This collaboration will nurture the growth of the ink ecosystem and expedite its transition onto the blockchain.
Andrew Koller, founder of Ink.
Based on reports from the developers at the L2 platform, they decided to release early due to high builder interest and a solid backing from the community. During the testing stage, there were millions of transactions and over 3,000 wallet connections established, demonstrating strong user engagement and readiness for the main network’s debut.
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2024-12-18 21:44