Kraken Layer-2 Blockchain Could Rival Base If Introduced?

Crypto News – As to the latest rumors, Kraken, a cryptocurrency exchange based in the United States, intends to introduce its own layer-2 (L2) blockchain and is looking for backing from notable industry participants.  

Kraken Layer-2 Blockchain Could Rival Base If Introduced?

Rivaling Coinbase’s Base L2, which was introduced earlier this year, would be a Kraken L2. Prominent blockchain startups such as Polygon, Nil Foundation, and Matter Labs are being considered by Kraken for development.

The intention to introduce a new L2 was revealed by people with knowledge of the situation, but Kraken stayed silent. Details were withheld by a Kraken spokesperson.

We’re always looking to identify and solve for (sic) new industry challenges and opportunities.

A Kraken spokesperson

Can the Kraken Pass the Base?

A layer-2 blockchain based on Ethereum, Base was first unveiled by Coinbase in February 2023. Its goal is to provide a safe, affordable, and developer-friendly platform for anybody, anywhere, to create decentralized applications, or dapps, on the blockchain. The debut of Base was later revealed by Coinbase CEO Brian Armstrong in an X post in August.

In accordance with a CoinGecko report, Base is acknowledged as the Layer-2 with the fastest growth. Base collected a million distinct addresses in the first eleven days of its inception. 523k addresses were added to the platform using unauthorized bridges before the official launch.