Major U.S. cryptocurrency exchange Kraken is looking to several leading blockchain technology companies to help launch its own Layer-2 network, in line with Coinbase’s move earlier this year.
According to anonymous sources, Kraken is considering using technology from companies such as Polygon, Matter Labs and Nil Foundation as the basis for the new network.
“We are always looking for and solving new industry challenges and opportunities. We have nothing to share at this time,” a Kraken spokesperson said.
Major cryptocurrency companies with well-known brands and customer followings are looking to expand their presence as blockchain builders, as a potential new revenue stream, or simply as an extension of their existing businesses.
In August, the Coinbase exchange launched its own Layer-2 network, called Base, using OP Stack Optimism built by the OP Labs team, which is the second largest Layer-2 network on the Ethereum blockchain.
Polygon, a leading developer of Ethereum scaling solutions with the Polygon PoS network and most recently the Polygon zkEVM, launched a new software toolkit earlier this year that developers can use to create their own blockchains. Matter Labs, the developer behind the zkSync Layer-2 network, also makes its technology available to emerging builders.
Kraken recently added a job posting to the careers section of its website, seeking a “senior cryptographic engineer” with “knowledge of modern cryptography (including ZK proofs),” which may include “design and implementation of layer 2 solutions.” .
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According to CoinDesk