Ink unveils Gelato-based fault proof, marking first step toward decentralization
Alyssa Davidson
Posted: November 15, 2024 9:25 AM Updated: November 15, 2024 9:25 AM
Correction and fact check date: November 15, 2024, 9:25 AM
briefly
Ink is collaborating with Gelato to launch open-source, permissionless fault proofing, marking the first step toward decentralization.
Ink, the layer 2 network of cryptocurrency exchange platform Kraken, announced the launch of open-source, permissionless Fault Proofs in collaboration with Web3 cloud platform Gelato, marking the first step in the decentralization process. I did it.
Fault proofing is an important component of optimistic rollup systems such as the OP stack. This allows users to withdraw ETH and tokens from OP Stack chains, such as the OP Mainnet, by submitting evidence confirming that the withdrawal was correctly recorded on the OP Stack Chain. These proofs of fault allow users to submit suggestions and challenge the OP stack chain state required to verify withdrawals.
Proof of Fault is now live in Gelato’s OP stack rollup, allowing users, developers, and institutions to withdraw bridge assets such as ETH and ERC-20 tokens back to Ethereum without Ink’s intervention. You can also review Ink’s rollup transactions and dispute them if they are deemed invalid.
Ink is decentralizing layer 2 state verification and increasing community participation by introducing fault proofing. With a fully operational security council and permissionless fault prevention system in place, the project is moving forward towards a new era of roll-up security with the next step, level 2 decentralization.
What is ink and how does it work?
Kraken announced the launch of Ink last month and plans a full mainnet launch in the first quarter of 2025. Ink is an advanced layer 2 blockchain built on Optimism’s Superchain. As a natural extension of Kraken’s mission, Ink aims to provide a seamless connection to decentralized finance (DeFi), allowing users to efficiently and securely interact with blockchain networks.
Ink is built on Optimism’s open-source, MIT-licensed OP Stack codebase, positioning it as part of the broader Ethereum ecosystem. In addition to leveraging the security of Ethereum, the world’s largest blockchain platform, Ink is integrated into Superchain, a unified blockchain network that shares common security, governance, and value. By adopting a standardized codebase, Superchain seeks to extend the functionality of Ethereum and improve interoperability between blockchain networks.
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About the author
As MPost’s resident journalist, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.
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Alyssa Davidson
As MPost’s resident journalist, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.
more articles