Kraken plans to introduce its own protocol after the huge success of Coinbase’s Base protocol.
Exploring the possibilities of Layer-2s, the exchange intends to establish a scalable and cost-effective network. Cardano, under Charles Hoskinson’s direction, contributed its knowledge. Kraken is looking at a few other prospects.
Charles Hoskinson proposed to Kraken on November 12 via a social media post. The creator of Cardano has volunteered to provide his knowledge to Kraken so that it may construct a Layer-2 network like Coinbase’s Base network.
Hoskinson’s desire for more attention for himself and Cardano is obvious, and therefore the proposal’s impetus. Hoskinson hopes to increase Cardano’s visibility by teaming up with Kraken.
The success of Coinbase’s Base, on the other hand, has piqued Kraken’s interest in a Layer-2 network. Since its start, the Base chain has shown impressive performance and rapid expansion. Base’s Total Value Locked (TVL) has already eclipsed Solana’s in the months after its release.
Moreover, a Layer-2 network provides a chance to leverage on the advantages afforded by Ethereum’s broad ecosystem while profiting from cheaper transaction costs and quicker transaction times.