Cardano’s founder, Charles Hoskinson, has indicated that he would want to collaborate with Kraken, a significant cryptocurrency exchange in the United States, on developing the latter’s layer-2 blockchain network.
This action is being taken while Kraken aggressively searches for a blockchain developer to expand its technological capabilities; several well-known candidates have already expressed interest in the position.
Kraken’s search for a blockchain partner
The goal of Kraken to establish its own layer-2 network is a component of a larger movement by significant cryptocurrency firms to expand into the development of blockchain technology.
This tactic not only creates possible new sources of income but also strengthens their position in the quickly developing digital currency industry.
Kraken is presently taking into consideration a number of well-known blockchain technology companies, such as Matter Labs and Polygon. Whether Cardano will eventually make the cut is uncertain.
Coinbase’s layer-2 success
In the industry, Coinbase’s entry into layer-2 networks has established a precedent. The efficiency and user experience of executing decentralised apps on Ethereum have been effectively enhanced by their network, Base, which was developed on the OP Stack in partnership with Optimism.
Remarkably, Base has surpassed $300 million in total value locked, making it the tenth most popular chain.
Coinbase has reaffirmed its dedication to openness and community involvement by making Base’s code available for public inspection and input, with the goal of improving the Ethereum Layer 2 network.
