cryptopotato.com
Ethereum smart contract scaling solution developer Offchain Labs announced that it is acquiring Prysmatic Labs, one of the core engineering teams that architected the Merge and built Prysm.
According to the announcement, Prysmatic Labs chose to join Offchain Lab because of the two companies’ alignment on core beliefs and shared commitment to scaling Ethereum. The move aligns with the team’s vision for a “sustainable future for Ethereum” by enabling greater communication for the development on both layer 1 as well as layer 2.
L1 Team Joins the Best L2 Team
Post-acquisition, the Prysmatic team will continue to maintain the Prysm client, which is powering Ethereum’s proof-of-stake consensus and a favorite among node runners.
Prysmatic Labs co-founder Raul Jordan said merging with Offchain Labs “made perfect sense” and believes the acquisition will help in building a “unified team stronger than the sum of its parts.” He further went on to add,
“We have been inspired by Arbitrum’s organic growth and the versatility of the Offchain team to adapt to technology that is both practical and innovative. Both companies truly love the work we produce, and are extra motivated to build a unified team stronger than the sum of its parts.”
Despite the Prysmatic Labs team officially joining Offchain Labs, development initiatives such as leading the effort to bring EIP-4844 target="_blank" rel="noopener">increased by nearly 55% from the period of August to September.
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