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From The Collaborative International Dictionary of English v.0.48:
Kraken \Kra"ken\, n. [Prob. from OSw. krake, or ODan. krage the trunk of a tree, the branches of which are not entirely cut off, to which it was likened by the Norwegian mariners.] A fabulous Scandinavian sea monster, often represented as resembling an island, but sometimes as resembling an immense octopus. [1913 Webster] To believe all that has been said of the sea serpent or kraken, would be credulity; to reject the possibility of their existence, would be presumption. --Goldsmith. [1913 Webster] Like a kraken huge and black. --Longfellow. [1913 Webster]