Kraken Plans to Launch Layer-2 Network
Reports have emerged that United States-based cryptocurrency exchange Kraken is considering launching its own layer-2 network. This move could potentially revolutionize the crypto landscape and open up new opportunities for the exchange.
According to sources familiar with the matter, Kraken is exploring partnerships with several blockchain firms, including Polygon Labs, Matter Labs, and Nil Foundation, to build the foundation for its layer-2 network.
While Kraken has not confirmed these rumors, the exchange has recently posted a job opening for a “Senior Cryptography Engineer” and expressed its enthusiasm for layer-2 technologies and integrating more protocols into its system.
Following Coinbase’s Lead
Kraken’s potential move follows in the footsteps of rival crypto exchange Coinbase, which launched its layer-2 network Base three months ago. Base has quickly become one of the largest layer-2 networks on the Ethereum blockchain, boasting over 52 million unique addresses and a daily increase of 138,000.
The news of Kraken’s potential launch has sparked mixed reactions within the crypto community, with some supporting the move and others questioning the necessity of another layer-2 network in an already crowded market.
Hot Take: Kraken’s Layer-2 Network Could Reshape Crypto Landscape
If Kraken goes ahead with launching its layer-2 network, it could significantly impact how cryptocurrencies are traded and utilized. The integration of more protocols into Kraken’s system could enhance scalability and efficiency within the crypto space. However, concerns about market saturation will need to be addressed to ensure the success of this potential venture.
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