Kraken looking to ‘solve’ industry challenges amid layer-2 rumors

Crypto change Kraken neither confirmed nor denied rumors of the corporate’s plans to doubtlessly launch a layer-2 resolution much like what its competitor Coinbase did with Base community earlier this 12 months. 

The rumors had been fueled by stories citing nameless sources and a job posting from Kraken highlighting that the group is seeking to rent a senior cryptography engineer who can be in control of designing and implementing cryptographic protocols and “layer-2 options.”

Inside the job submit, Kraken additionally famous that its group has “lately launched into exploring how extra protocols and decentralized functions may be built-in” into its crypto ecosystem. The submit additionally famous that the corporate is obsessed with layer-2 protocols.

Cointelegraph reached out to Kraken for readability on the subject. Nonetheless, the change didn’t affirm that they’re engaged on a layer-2 community that might doubtlessly rival Base and different layer-2 gamers throughout the crypto house. In keeping with a spokesperson from Kraken, the corporate doesn’t have something to debate in the mean time. They mentioned:

“We’re all the time seeking to determine and clear up for brand spanking new trade challenges and alternatives. We don’t have something additional to share right now.”

Numerous group members have responded to the information, with some supporting Kraken entering into layer-2 options and others being towards the transfer. An X (previously Twitter) consumer argued that due to scalable layer-1 networks, “we don’t want L2’s.” The group member additionally famous that the trade has sufficient layer-2 community that’s “fragmenting liquidity.”

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Earlier this 12 months, Kraken’s competitor Coinbase launched its personal layer-2 resolution referred to as the Base community. On Aug. 9, Base was formally launched, opening use for end-users after a interval of being on a “builders solely” section.

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