Kraken's Ink Network: A Fast and Cheap Ethereum Layer 2 Solution

Ink is an Ethereum Layer 2 network developed in partnership with Kraken, designed to make on-chain activity faster and cheaper than using Ethereum mainnet directly. The network, built for decentralized finance (DeFi), allows users to hold and interact with assets through self-custody wallets while retaining Ethereum as its settlement layer.

The Ink team describes the network as a DeFi-focused home within Optimism's Superchain, a broader group of networks built on common technology and greater interoperability. The network launched with approximately one-second block times and uses ETH to pay transaction fees, aiming to offer much lower fees than Ethereum mainnet.

To get started with Ink, users need to add the network to their wallet, fund it with ETH, and then explore the official Ink app directory. The directory groups applications into DeFi, bridges, explorers, infrastructure, on-ramps, and social tools. Some prominent applications currently listed on Ink include Tydro, Nado, Velodrome, and Blockscout.