- Cardano founder Charles Hoskinson expresses interest in partnering with Kraken to develop a Layer-2 blockchain network.
- Kraken seeks a blockchain developer for its Layer-2 network, aligning with the industry trend of expanding into blockchain technology development.
Blockchain expert Charles Hoskinson, the visionary founder of Cardano, has revealed his keen interest in forming a strategic alliance with Kraken, a prominent U.S. cryptocurrency exchange. The primary objective behind this collaboration would be to jointly develop a cutting-edge Layer-2 (L2) blockchain network.
— Collin Brown (@CollinBrownXRP) November 13, 2023
This development comes at a time when Kraken is actively scouting for a proficient blockchain developer to augment its technological capabilities, with several notable contenders already vying for the opportunity.
Kraken’s Search for a Blockchain Partner
Kraken’s pursuit of launching its own Layer-2 network aligns with a broader industry trend. Many major players in the cryptocurrency space are expanding their operations into blockchain technology development. This strategic pivot not only promises additional revenue streams but also solidifies their positions within the ever-evolving digital currency landscape.
Kraken’s deliberations include evaluating various leading blockchain technology firms, such as Polygon and Matter Labs. The final selection remains uncertain, leaving the potential partnership with Cardano in suspense.
Coinbase, a cryptocurrency trading giant, has set a noteworthy precedent in the realm of Layer-2 networks. Their network, Base, is built on the OP Stack in collaboration with Optimism, delivering substantial improvements in the efficiency and user experience of decentralized application (DApp) execution on the Ethereum platform. Impressively, Base has ascended to become the 10th most popular chain by total value locked, surpassing the $300 million milestone.
Furthermore, Coinbase has demonstrated its commitment to transparency and community collaboration by open-sourcing Base’s code. This move invites public contributions and scrutiny to enhance the Ethereum Layer 2 network, fostering innovation and growth within the ecosystem.
In the midst of this dynamic landscape, Cardano’s founder, Charles Hoskinson, remains optimistic about the prospect of assisting Kraken in charting a similar path to success if chosen for this historic endeavor. The burgeoning interest in Layer-2 networks among major cryptocurrency entities underscores the industry’s dedication to embracing blockchain technology’s transformative potential.
As Cardano and Kraken explore the possibilities, the cryptocurrency world eagerly awaits the outcome of this potential collaboration.
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Please follow me on Twitter for deep analysis. Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.
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