Robinhood is still making its biggest bet on Crypto, and announced on Monday it is in development Ethereum Layer-2 Scaling networks for trading digital representations of assets such as stocks, but similar products already exist in competing networks Solana.
For Johann Carblatt, general manager of cryptography at Robin Hood, the presence of multiple projects is frustrating. For digital purposes, tokenization is not very beneficial The same stock version is issued in useful ways across multiple networks, as the activity is silent throughout the ecosystem, he said. Decryption.
“I hate the idea of having a Tesla Craked Token and a Tesla Robinhood token,” he said. “Instead of actually moving forward and creating a better financial system, we’re splitting liquidity.”
Robinhood’s initiative highlights notable differences between major crypto trading platforms as it uses tokenization to break through traditional record keeping methods and creates a more efficient system for investors.
Based on this, when developing your own Ethereum compatible network ArbitratorKerbrat said Robinhood is trying to cast the largest net possible, as it appears to be connecting with other entities that expand and encrypt tokenized assets.
“We are the first to launch (tokenized stocks and ETFs) in the EU, but in the future we want to open it up as soon as we clarify the regulations,” he said. “We want the biggest participation there. We want to be compatible with other players.”
But the cipher exchanges what Kraken and Bybit have It has been expanded Stock trading tokenized through backed financial Xstocks. The assets traded in Solana highlight how companies utilize competing networks and standards when trying to revamp their financial system.
As Kraken moves forward in tokenized stock trading in Solana, Kerbrat pointed out by Ink, the Ethereum Layer-2 network. release By last year’s Kraken, it was unexplored.
“It’s interesting to see them decide not to use that chain,” he said. “Some companies are trying to launch as many things as possible to get as many headlines as possible. On our part, we want people to actually use their products.”
A Kraken spokesman said DecryptionTo avoid liquidity fragmentation across multiple token standards and chains, we joined a group of financial protocols that set standards for Xstocks Alliance, Exchange, Network, and Decentralized Finance Protocols.
“We are working to make Xstocks a global standard for tokenized stocks,” the spokesman said. “This isn’t about promoting a single brand, it’s about unlocking access and changing the power to people.”
Solana was a natural place to launch Xstocks to “accelerate mass adoption,” but Kraken is already working with a “extensive network of partners” to expand Xstocks to additional blockchains. Ink is an important part of the company’s roadmap, they added.
As Kraken leaned over Xstocks, Robinhood is preparing to debut its own Ethereum Layer-2 scaling network, with the aim of appealing to as many developers as possible.
At Cannes, CEO Robin Hood Vlad Tenev I said The event is where the company is working with regulators to “bring the entire Robinhood ecosystem on-chain,” and ultimately leverages its own blockchain to support transactions and settlements, as well as financial applications.
Ethereum co-founders Vitalik Buterin and Offchain Labs CSO AJ Warner in the fireplace, after Kerbrat Highlighted Arbitrum Stylus. As an engineer, he pointed out how difficult it is to find a “great engineer” who is proficient in Ethereum’s programming language.
Arbitrum Stylus, which debuted in September, allows developers to write smart contracts in a variety of languages, including Rust, the main language of Solana’s programs.
“The stylus stack can be used to incorporate certain components of a particular library or application, and can take on the benefits of combat-hardened EVM code,” Warner said.
Edited by James Rubin