What’s cool about this is that it will use technology similar to Coinbase’s Base.
If you’re not familiar with Coinbase, think of it as one of Kraken’s biggest rivals in the crypto world. Let’s see more about this important news for this future blockchain.
Why Is Kraken Doing This?
Why is Kraken launching its blockchain? It’s all about making things easier and faster for people who use their platform. By having their blockchain, Kraken can offer better services, like cheaper and quicker transactions.
Kraken is taking a page out of Coinbase’s book by using technology that’s already working well for Coinbase’s Base blockchain. This means Kraken’s new blockchain will be strong and reliable right from the start.
BREAKING: @krakenfx PLANS TO LAUNCH BLOCKCHAIN WITH “SIMILAR TECHNOLOGY TO COINBASE GLOBAL INC.’S BASE” EARLY NEXT YEAR – PER BLOOMBERG pic.twitter.com/XC1qHf7D3X
— DEGEN NEWS (@DegenerateNews) October 24, 2024
Kraken’s new blockchain will make trading and using cryptocurrency smoother and more efficient. If you’re someone who’s been using Kraken, you’ll be able to make transactions quicker and without as many fees.
This blockchain could also introduce some fun new tools for users, like different ways to earn rewards or interact with decentralized apps (dApps).
Competition With Coinbase & Looking Ahead to 2025
Coinbase and Kraken have been big players in the crypto world for years, and now, Kraken’s new blockchain will turn up the heat in this competition. Coinbase’s Base blockchain has been around for a little while, so Kraken’s new launch will be a direct competitor. Here are some stats from Base:
🔥⚡ BREAKING: Base Network’s NFT sector is EXPLODING! Let’s dive into the incredible growth stats from Oct 9-24! 📊✨
📈📊 Growth Metrics:
• Sales: 1.5M → 1.6M 📈
• Sellers: 268.3K → 299.1K 🎨
• Buyers: 320.3K → 351K 🛍️
• Volume: $268.3M → $315.4M 💰
Absolutely crushing… pic.twitter.com/W3kf7XD9if— Afonso (@0xafonso) October 24, 2024
Kraken’s blockchain launch is set for early 2025, so users won’t have to wait too long to see what the buzz is about. If Kraken’s new platform works as planned, it could shake up the crypto space and give users more choices for trading and using their digital money.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
