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Offchain Labs Has Acquired Core Development Team Of Ethereum Prysmatic Labs

Prysmatic Labs, a core development team at the back of the Ethereum Merge, has been obtained by Offchain Labs – known as the developer of Arbitrum (a layer-2 network of Ethereum). Offchain Labs did not disclose the financial terms of the contract nonetheless noted that there were several reasons for Prysmatic Labs to begin a collaboration with Offchain Labs.

Offchain Labs Owns Prysmatic Labs

However, chiefly both of the platforms were aligned in their fundamental beliefs thus they partnered up. Raul Jordan, the co-founder of Prysmatic Labs, stated that the respective move will construct a unified group more resilient than its cumulative parts.

Jordan mentioned that the collaboration would be very beneficial while playing the role of an Ethereum group as the software developed by them are completely incentive-aligned with Ethereum’s success.

As claimed by Offchain Labs, Ethereum’s future depends on layer 1 (in the case of consensus as well as data availability) along with layer 2 (in the case of scalability and execution). The company is of the view that Prysmatic Labs’ acquisition counts as a move in the direction of joining experts related to the respective 2 zones.

Prysmatic Labs to Keep on Doing Its Usual Activities Like the Construction of Prysm

Even though Offchain Labs has formally been joined by the team of Prysmatic Labs, the activities done by them will be carried out without any interruption and their operations in the node consumer software of Ethereum will keep on having development in a usual way under the umbrella of Offchain.

Prysm is still being constructed by them as a completely neutral and open-source consensus client.

Apart from that, Prysmatic Labs is bringing the data-sharding of EIP-4844 to production. At the end of the post, the venue pointed out that there might take place some partnerships between the duo in the future regarding the L2 and L1 development.

In addition to being at the back of the Merge as well as the construction of Prysm, Prysmatic Labs is at the moment powering the proof-of-stake (PoS) mechanism of Ethereum.

Offchain Labs is known to be a venture-supported company based in Princeton. It is engaged in carrying out the development of Arbitrum (considered a package of technologies related to Ethereum) with a couple of live chains, taking into account Arbitrum Nova and Arbitrum One.

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