Cardano founder Charles Hoskinson has expressed a desire to work with Kraken, one of the largest crypto exchanges in the world. This comes as the Layer 2 blockchain market is heating up and major players in the space are delving into developing their own L2s.

Cardano Founder Wants To Build An L2

Last week, news broke that Kraken, a US-based crypto exchange, is looking to build its own Layer 2 blockchain. The reports which cited people familiar with the matter said that the exchange is yet to decide what network to partner with to realize this dream.

In line with this, Cardano founder Charles Hoskinson revealed his willingness to work with the exchange in an X (formerly Twitter) post. The post which included a link to a report that Kraken is still scouting for network partners included a tag of Kraken co-founder Jesse Powell, saying “I’m game if you are.”

I’m game if you are https://t.co/Zryh679fMl@jespow PM me

— Charles Hoskinson (@IOHK_Charles) November 12, 2023

The move by Kraken comes just months after another US-based crypto exchange Coinbase launched its own Layer 2 network called Base. This looked to have sparked fierce competition between these heavy-weight exchanges and Kraken is stepping up its game in response.

If Kraken does move forward with Cardano, they could end up building a side chain that would run parallel to the network. An example of this is Hydra developed by IOHK, the developer behind Cardano, which is a Layer 2 network that uses isophormic state channels that make up what is referred to as ‘heads’. This wa

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Author: Scott Matherson

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