Kraken seeking to ‘remedy’ business challenges amid layer-2 rumors

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

The rumors have 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 answerable for designing and implementing cryptographic protocols and “layer-2 options.”

Throughout the job publish, Kraken additionally famous that its crew has “lately launched into exploring how extra protocols and decentralized purposes might be built-in” into its crypto ecosystem. The publish additionally famous that the corporate is keen about layer-2 protocols.

Cointelegraph reached out to Kraken for readability on the subject. Nonetheless, the trade didn’t verify that they’re engaged on a layer-2 community that might probably rival Base and different layer-2 gamers throughout the crypto area. In line with a spokesperson from Kraken, the corporate doesn’t have something to debate in the intervening time. They stated:

“We’re all the time seeking to determine and remedy for brand spanking new business 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 moving into layer-2 options and others being in opposition to 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 business has sufficient layer-2 community that’s “fragmenting liquidity.”

Associated: Will the next crypto bull run be dominated by L1s, L2s or something else?

Earlier this 12 months, Kraken’s competitor Coinbase released its own layer-2 solution known 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” part.

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