The Founder Of Cardano Plans To Collaborate With Kraken On A New Blockchain Project

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 collaborations with several leading blockchain technology firms, including the likes of 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 sources of income, but also strengthens their position in the rapidly developing digital currency market.

Coinbase’s incursion into Layer 2 networks set a precedent in the industry. Their Base network, built on the OP Stack in collaboration 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, exceeding $300 million. Reiterating its commitment to transparency and collaboration with the community, Coinbase recently open-sourced Base’s code, inviting the public to contribute and explore ways to improve the Ethereum Layer 2 network.

Image: Binance Academy