in Ethereum, layer 1, layer-2, Offchain Labs, Prysmatic Labs

Offchain Labs acquires Ethereum core dev team Prysmatic Labs

by Repost Admin October 13, 2022, 6:43 am 1.8k Views

Through the deal, Offchain Labs hopes to build a sustainable future for Ethereum, through greater communication between teams developing on both layers and direct collaborations.

One of the core development teams behind the Ethereum (ETH) Merge, Prysmatic Labs, has been acquired by Offchain Labs, the developer of Ethereum layer-2 network Arbitrum.

Announced in an Oct. 13 blog post by Offchain Labs, the deal’s financial terms were not disclosed, but it was noted Prysmatic Labs chose to join Offchain Labs “for many reasons,” but mainly because of the two companies’ alignment in their core beliefs.

Prysmat