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In the dynamic environment of the cryptocurrency sector, the discovery of Layer-2 solutions is seen as a gateway to potential new revenue streams for several companies. Especially, Charles Hoskinson, the visionary founder of Cardano Blockchain, openly expresses his interest in a potential partnership with the US-based cryptocurrency exchange Kraken. This development comes in response to Kraken’s announcement of its intention to enhance its technological capabilities and seek collaboration with a Blockchain developer to achieve this goal.
Is a Partnership Between Kraken and Cardano Possible?
The main reason for Kraken’s pursuit of a partnership stems from its ambitious goal of launching its own Layer-2 Blockchain network. We are in a period where the development of Blockchain technology is an integral part of the business strategies of leading crypto companies. Kraken is also moving forward with such a goal in mind.
Cardano CEO Charles Hoskinson, who is aware of Kraken’s goal and commitment, explicitly states “if you are there, I am there too.” This situation is interpreted as signs of a potential partnership.
Highlights of Layer-2 Dynamics
It is emphasized that Layer-2 solutions have brought new momentum to the cryptocurrency sector. The example of Coinbase stands out in this regard. The partnership formed with the altcoin project Optimism to build the OP Stack had made waves in the industry in previous months. The reflections of this partnership had been seen. Accordingly, the efficiency of decentralized applications running on the Ethereum network had significantly increased. Additionally, user experiences on the network had improved.
The progress reached through the Coinbase and Optimism partnership is not limited to the above. Coinbase’s Layer-2 network, Base, has shown significant growth and has become the tenth most popular chain with a total value locked (TVL) exceeding $300 million. This demonstrates the potential of Layer-2 initiatives. Based on this, the step taken by Cardano and Kraken in the Layer-2 field can be an exciting development. It can also open doors to innovations and new opportunities in the crypto world.
