Charles HOSKINSON, founder of Cardano, has expressed interest in partnering with Kraken, a major US cryptocurrency exchange, to create a layer 2 blockchain network. Kraken is currently considering partnerships with several leading blockchain technology companies, including Polygon and Matter Labs. It is unclear whether Cardano will ultimately succeed.
Kraken’s move to launch its own Layer 2 network is part of a broader trend among major crypto companies to expand their efforts in developing blockchain technology. This strategy not only opens up new potential revenue sources, but also strengthens their position in the rapidly developing digital currency market.
Coinbase’s foray into Layer 2 networks set an industry precedent. Their base network, built on the OP Stack in partnership with Optimism, has successfully improved the efficiency and usability of decentralized applications on Ethereum. It is worth noting that Base became the 10th most popular network in terms of TVL, with a value of over $300 million. Reiterating its commitment to transparency and community collaboration, Coinbase recently made Base’s code open source, inviting the public to contribute and explore ways to improve the Ethereum Layer 2 network.
Image: Binance Academy