According to sources cited by CoinDesk, the large US cryptocurrency exchange Kraken is considering partnering with several leading blockchain technology companies to help launch its own Layer 2 network. This move would align Kraken with competitor Coinbase, which earlier this year launched its own Base network.
Sources revealed that Kraken is considering using the technology of companies such as Polygon, Matter Labs, and Zero-Knowledge (ZK) proof technology developer Nil Foundation as the foundation for the new network. Discussions are ongoing, and there may be other teams involved in the discussions.
A Kraken spokesperson told CoinDesk that Polygon is a leading developer of Ethereum scaling solutions, with ecosystem networks such as Polygon PoS chain and Polygon zkEVM. Polygon Labs, the development team of Polygon, released a software tool called the Chain Development Kit (CDK) at the end of August this year. Developers can use this tool to develop L2 chains supported by Zero-Knowledge (ZK) proof technology. Matter Labs, the team behind the Ethereum L2 network zkSync, also provides their own development tool ZK Stack to emerging builders.