Kraken’s Exploration of Layer 2 Networks
Kraken, a prominent U.S. cryptocurrency exchange, is considering a strategic entry into the realm of layer 2 networks, following the footsteps of its competitor Coinbase earlier this year. The exchange is currently evaluating various blockchain developers, including Polygon, Matter Labs, and the Nil Foundation, as potential partners in crafting its own layer 2 network.
Charles Hoskinson’s Interest
In response to these developments, Charles Hoskinson, the Founder and CEO of Cardano, has expressed interest in a potential partnership with Kraken for this venture. Hoskinson sees promising prospects in collaborating with Kraken in the layer 2 network space.
Job Postings Indicate Kraken’s Direction
Although discussions are in the preliminary stages and not publicly confirmed, indications point towards Kraken’s ambitions to tackle new industry challenges and capitalize on emerging opportunities. While a Kraken spokesperson declined to provide further details, job postings on the company’s website suggest a proactive stance towards embracing modern cryptography and exploring layer-2 solutions.
Embracing Modern Cryptography
Coinbase set a precedent by unveiling its Base layer 2 network in August, leveraging OP Stack from the team behind Optimism. Similarly, Polygon and Matter Labs are pioneers in Ethereum scaling, offering cutting-edge solutions like zkEVM and zkSync, respectively, to fuel the growth of decentralized applications.
Kraken’s Potential Venture in Layer 2 Technology
Kraken’s potential venture into layer 2 technology reflects a broader trend within the crypto sphere. Established industry players are exploring blockchain development as a means of generating new revenue streams or expanding their operational frameworks.
Job Posting for Senior Cryptography Engineer
The recent job posting for a Senior Cryptography Engineer at Kraken emphasizes familiarity with ZK proofs and a strong focus on open-source and layer-2 technologies. This role indicates the company’s intention to integrate more protocols and decentralized applications into its platform, showcasing a commitment to scaling solutions on-chain.