Cryptocurrency exchange Kraken has neither confirmed nor denied rumors that the company plans to potentially release a second-layer solution, similar to what its rival Coinbase did on the Base network earlier this year.
Reports citing anonymous sources and Kraken recruitment information fueled these rumors highlight The organization is looking for a Senior Cryptographic Engineer to design and implement cryptographic protocols and “Layer 2 solutions.”
In the post, Kraken also noted that its team has “recently begun exploring how to integrate more protocols and decentralized applications” into its crypto ecosystem. The post also noted that the company is passionate about Layer 2 protocols.
Cointelegraph reached out to Kraken for clarification on the topic. However, the exchange did not confirm that it is developing a layer 2 network, which may compete with Base and other L2 players in the cryptocurrency space. A Kraken spokesperson said the company has nothing to discuss at this time. they said:
“We are always looking for and solving new industry challenges and opportunities. We do not have any further information to share at this time.”
Various community members responded to the news, with some supporting Kraken moving into a layer 2 solution and others opposing the move. X (formerly Twitter) user debate Due to scalable layer 1 networks, “we don’t need layer 2 networks.” The community member also noted that the industry has enough layer 2 networks that are “decentralizing liquidity.”
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Earlier this year, Kraken competitor Coinbase launched its own layer 2 solution called the Base Network. On August 9, Base was officially launched. After a period of “builders only” phase, it was open to end users.
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