Charles Hoskinson, the visionary behind Cardano, expresses keen interest in joining forces with Kraken, a major U.S. cryptocurrency exchange, for the development of a layer-2 blockchain network. This strategic move aligns with Kraken’s active pursuit of a blockchain developer to augment its technological capabilities.
Kraken’s Search for Blockchain Partner
As part of its broader strategy to expand into blockchain technology development, Kraken is in the process of selecting a partner for its layer-2 network. The exchange is evaluating prominent blockchain technology firms, including contenders like Polygon and Matter Labs. The potential collaboration with Cardano adds an intriguing dimension to this exploration.
Kraken‘s pursuit mirrors a growing trend among major cryptocurrency companies to delve into blockchain technology development. Beyond generating new revenue streams, this approach solidifies their positions in the dynamic digital currency market. The selection of the right partner is crucial for Kraken to navigate this transformative landscape successfully.
Coinbase’s Layer-2 Success Sets Precedent
Coinbase‘s successful venture into layer-2 networks is a notable precedent in the industry. Their creation, Base, built on the OP Stack in collaboration with Optimism, has significantly enhanced the efficiency and user experience of decentralized applications on Ethereum. Base’s ascent to become the 10th most popular chain by total value locked, exceeding $300 million, underscores the potential benefits of strategic layer-2 initiatives.
In a commitment to transparency and community collaboration, Coinbase takes a noteworthy step by open-sourcing Base’s code. By inviting public contributions and scrutiny, Coinbase aims to foster enhancements to the Ethereum Layer 2 network. This move reflects the evolving landscape of collaborative innovation within the crypto industry.