Kraken, the prominent U.S. cryptocurrency exchange, is contemplating collaboration with leading blockchain technology firms to create its layer 2 network, according to undisclosed sources familiar with the situation.
This move aligns with Coinbase’s earlier launch of its layer-2 network.
A Kraken spokesperson commented,
“We’re always looking to identify and solve new industry challenges and opportunities.”
They, however, did not disclose further details at this time.
The sources requested anonymity due to the non-public nature of the initiative, and additional teams may be involved in these discussions.
Established cryptocurrency companies with a substantial user base are increasingly venturing into blockchain development, either to explore new revenue streams or expand their current operations.
Coinbase, a significant crypto exchange, unveiled its own layer 2 network, Base, in August. This network leverages the OP Stack, developed by the OP Labs team responsible for Optimism, the second-largest layer-2 network built on the Ethereum blockchain.
Polygon, known for its Ethereum scaling solutions such as Polygon PoS and the recent Polygon zkEVM, introduced a toolkit for developers to create their blockchains.
Matter Labs, the creator of the zkSync layer-2 network, also offers its technology to aspiring developers.
To support this endeavour, Kraken has posted a job opening for a “Senior Cryptography Engineer” on its website, seeking candidates with knowledge of modern cryptography, including ZK proofs.
This position could involve the design and implementation of layer-2 solutions, marking Kraken’s strategic commitment to advancing its blockchain capabilities.