Cardano’s Hoskinson Proposes Collaboration with Kraken
Charles Hoskinson, the founder of Cardano, recently suggested a potential partnership with the cryptocurrency exchange Kraken. He expressed interest in developing a Layer-2 network for the exchange, as Kraken actively seeks a blockchain developer to enhance its technological capabilities.
Hoskinson’s Interest in Kraken Partnership
Hoskinson made this proposal via a post on X (formerly Twitter) on November 12th. This proposal coincides with Kraken’s search for a blockchain partner to assist in building its Layer-2 network. The exchange has been considering collaborations with Polygon and Matter Labs for this purpose.
Developing a Layer-2 network is part of Kraken’s strategy to address challenges in the crypto industry and explore emerging markets and opportunities.
Increased Competition for Partnership
The competition to become Kraken’s partner has intensified, with numerous crypto entities vying for the position. Hoskinson’s direct outreach to the Kraken CEO indicates his strong interest in collaborating with the exchange.
Layer-2 network launches have become popular among crypto entities and exchanges, as they offer opportunities for expansion and revenue generation, while also establishing a presence in evolving markets.
Coinbase’s Success with Base Layer-2 Network
Coinbase’s Base Layer-2 network has set an example for others in the market. Launched a few months ago, Base is built on the OP Stack and has significantly improved the efficiency and user experience of running decentralized applications on Ethereum. It has surpassed $300 million in Total Value Locked (TVL) and has increased Coinbase’s market share.
Hoskinson aims to guide Kraken towards similar success if chosen as their partner.
Hot Take: Potential Partnership Between Cardano and Kraken
If Cardano and Kraken join forces, it could lead to significant advancements in Layer-2 technology within the crypto industry. This collaboration could also open up new opportunities for both parties to expand their market presence and attract more users.
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