Charles Hoskinson, the founder of Cardano, has voiced interest in partnering with Kraken, a major US cryptocurrency exchange, to build its layer 2 blockchain network.
This move comes as Kraken is actively seeking a blockchain developer to enhance its technological capabilities, and there are already notable contenders in the race.
Kraken’s search for a blockchain partner
Kraken’s ambition to launch its own Layer 2 network is part of a broader trend among major crypto companies to expand their operations into the development of blockchain technology.
This strategy not only opens up new potential revenue streams but also solidifies your position in the rapidly evolving digital currency market.
Kraken is currently considering several leading blockchain technology companies, including companies like Polygon and Matter Labs. It is unclear if Cardano will ultimately make the cut.
Coinbase Layer 2 Success
Coinbase’s foray into layer 2 networks has set a precedent in the industry. Their network, Base, built on OP Stack in collaboration with Optimism, has successfully improved efficiency and user experience when running decentralized applications on Ethereum.
In particular, Base has become the tenth most popular chain by total value locked, surpassing $300 million.
Reinforcing its commitment to transparency and community collaboration, Coinbase recently open sourced Base, inviting public contributions and scrutiny to improve the Ethereum Layer 2 network.
