Kraken said it is “always looking to identify and solve for new industry challenges and opportunities,” in a Nov. 7 email sent to CryptoSlate. The exchange made this statement in response to recent speculations about its potential development of a layer-2 network.
While the email neither confirmed nor denied the rumors, it underscored Kraken’s commitment to identifying and resolving industry challenges.
Kraken’s co-founder Jesse Powell also failed to provide additional information about the development. Powell posted a gif on social media platform X on Nov. 7, claiming that he “has no idea.”
Layer 2 networks are scaling solution that builds and improves upon Layer 1. These projects usually aim at providing scalability and speed to the ecosystem.
Over the past week, reports have indicated that Kraken may be following in the footsteps of Coinbase by exploring the establishment of its layer-2 network.
Some reports also suggested that the exchange might collaborate with crypto
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