Charles Hoskinson, the founder of Cardano, has expressed interest in partnering with Kraken, a major US cryptocurrency exchange, to build its layer-2 blockchain network.
The move comes as Kraken is actively looking for a blockchain developer to enhance its technological capabilities, with notable candidates already in the running.
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 activities into the development of blockchain technology.
This strategy not only opens up potential new revenue streams, but also strengthens their position in the rapidly evolving digital currency market.
Kraken is currently considering several leading blockchain technology companies, including Polygon and Matter Labs. It is not clear whether Cardano will ultimately win the prize.
Coinbase’s layer 2 success
Coinbase’s foray into layer 2 networking has set a precedent in the industry. Their network, Base, built on the OP Stack in partnership with Optimism, has successfully improved the efficiency and user experience of running decentralized applications on Ethereum.
Notably, Base has become the 10th most popular chain by total value, with a value of more than $300 million.
To further its commitment to transparency and community collaboration, Coinbase recently made Base’s code open source, inviting public contributions and scrutiny to improve the Ethereum Layer 2 network.
