.OffchainLabs, the team behind the Arbitrum rollup, has acquired PrysmaticLabs – key architects behind Etheruem’s transition to proof-of-stake. By skesslr
– a key piece of software for the disintermediated network of computers that keep Ethereum up and running.
“Merging with Offchain Labs made perfect sense to us as an Ethereum team because we develop software extensively in [the programming language] Go, are fully incentive-aligned with the success of Ethereum, and are focused on shipping quality software for others to use,” Raul Jordan, the co-founder of Prysmatic Labs said in a statement shared with CoinDesk.
According to Offchain CTO Harry Kalodner, the Prysmatic team will continue to maintain its client base post-acquisition. “It is very much not an acquisition,” Kalodner told CoinDesk. “Gradually as their time frees up,” said Kalodner, the Prysmatic team will “start to integrate more and spend more time developing the future of [layer 2].”Offchain Labs has, according to
, raised over $120 million from investors since its founding in 2018, and the addition of 11 new Prysmatic Labs teammates brings its total headcount beyond 60.
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