One of the core development teams responsible for the Ethereum Merge, called Prysmatic Labs, has been taken over by Offchain Labs, the developer of Ethereum layer-2 network Arbitrum, as reported by Cointelegraph.
According to Cointelegraph, through an October blog post by Offchain Labs, financial terms around the deal were not revealed. It is believed that Prysmatic Labs opted to join Offchain Labs on account of correlation between the two companies on account of correlation between their beliefs. Raul Jordan, co-founder, Prysmatic Labs, said the move will aim to build a strong team.
“Merging with Offchain Labs made perfect sense to us as an Ethereum team because we develop software extensively in Go, are fully incentive-aligned with the success of Ethereum, and are focused on shipping quality software for others to use,” Jordan said.
On the basis of information by Cointelegraph, Offchain Labs made the claim that the future of Ethereum is dependent on layer-1 for consensus and data availability and layer-2 for execution and scalability. Despite the collaboration between Prysmatic Labs and Offchain Labs, their work is expected to continue without any interventions, and their work in Ethereum node client software will continue to be developed under Offchain’s umbrella. It is believed that they are still working on Prysm as an open-source and neutral consensus client and bringing EIP-4844 data-sharding to production.
“There are several other joint initiatives that we plan to work on together, furthering both L1 and L2 development,” the post mentioned.
Moreover, Cointelegraph noted that Prysmatic Labs is one of the main engineering teams behind the Merge and built Prysm, the Ethereum consensus client which powers the Ethereum’s proof-of-stake (PoS) consensus. Offchain Labs is a venture-oriented and Princeton-backed company developing Arbitrum, a chain of scaling technologies for Ethereum, with two live chains such as Arbitrum One and Arbitrum Nova.
(With insights from Cointelegraph)
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