Prismatic Labs: The commercial entity behind Ethereum layer-two scalability solution Arbitrum announced the acquisition of Prysmatic Labs, a key player in Ethereum’s migration to Proof-of-Stake.
After the Merge, 43% of Ethereum nodes are running Prysmatic’s flagship software product Prysm.
Prysmatic Labs to continue work on sharding
According to a blog post, Prysmatic Labs has been working on proof-of-stake since 2018. The organization continues to contribute to the future of the Ethereum blockchain through a focus on sharding. This in accordance with Ethereum Improvement Proposal 4844 (EIP-4844) and Maximum Extractable Value (MEV) management research. MEV refers to how transactions can be reordered to yield maximum rewards over and above Ethereum’s standard block reward and gas fees.
Steven Goldfeder is the chief executive of Offchain Labs, said in a press release,” Prysmatic Labs possesses an incredibly talented team of engineers. Their dedication to the Ethereum community shows via their best-in-class product that is used broadly in the Ethereum ecosystem. We are looking forward to the integration of the Prysmatic Labs team as we work together to scale Ethereum.”
After the acquisition, Prysmatic will continue developing Prysm. It is an open-source implementation of Ethereum’s proof-of-stake consensus client software, using the programming language Go. Go helps run multiple operations in a distributed system asynchronously.
Prysmatic Labs allows anyone to
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