{"id":37330,"date":"2022-10-12T10:20:46","date_gmt":"2022-10-12T14:20:46","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=37330"},"modified":"2022-10-12T10:20:49","modified_gmt":"2022-10-12T14:20:49","slug":"offchain-labs-acquires-prysmatic-labs","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/offchain-labs-acquires-prysmatic-labs\/","title":{"rendered":"Offchain Labs Acquires Prysmatic Labs"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-by-buying-the-team-behind-prysm-ethereum-s-most-popular-consensus-layer-client-arbitrum-is-extending-its-layer-2-tentacles-down-to-ethereum-s-base-layer\">By buying the team behind Prysm, Ethereum's most popular consensus layer client, <a href=\"https:\/\/www.google.com\/search?q=Arbitrum&sourceid=chrome&ie=UTF-8\" target=\"_blank\" rel=\"noreferrer noopener\">Arbitrum<\/a> is extending its layer 2 tentacles down to Ethereum's base layer.<\/h5>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"673\" height=\"338\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/10\/image-50.png\" alt=\"Offchain Labs Acquires Prysmatic Labs\" class=\"wp-image-37332\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/10\/image-50.png 673w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/10\/image-50-300x151.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/10\/image-50-150x75.png 150w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/10\/image-50-360x180.png 360w\" sizes=\"(max-width: 673px) 100vw, 673px\" \/><figcaption>Offchain Labs Acquires Prysmatic Labs<\/figcaption><\/figure>\n\n\n\n<p>Offchain Labs, the company behind the Ethereum layer 2 network Arbitrum, said it was buying Prysmatic Labs, which was one of the main engineering teams behind Ethereum's move to proof-of-stake.<\/p>\n\n\n\n<p>The acquisition is a big step for Offchain Labs as it tries to grow the reach of Arbitrum, its optimistic rollup network that lets <a href=\"https:\/\/coinscreed.com\/staging\/the-merge-what-it-means-for-ethereum-and-other-cryptos.html\" target=\"_blank\" rel=\"noreferrer noopener\">Ethereum users<\/a> do business with lower fees and faster speeds. Also, Offchain's purchase of one of Ethereum's most important layer 1 teams shows that layer 2 scaling platforms are becoming more important in the <a href=\"https:\/\/coinscreed.com\/staging\/seba-bank-launches-ethereum-staking-services-for-institutions.html\" target=\"_blank\" rel=\"noreferrer noopener\">Ethereum ecosystem<\/a>.<\/p>\n\n\n\n<p>Prysmatic Labs first made a name for itself by making Prysm the most popular consensus layer client for Ethereum. Prysm is a key piece of software for the computer network that keeps Ethereum running without any middlemen.<\/p>\n\n\n\n<p>&#8220;As an Ethereum team, merging with Offchain Labs made perfect sense to us because we build a lot of software in the <a href=\"https:\/\/coinscreed.com\/staging\/top-7-secure-nft-blockchains-with-pros-and-cons.html\" target=\"_blank\" rel=\"noreferrer noopener\">programming language<\/a> Go, have a lot riding on the success of Ethereum, and are focused on putting out good software for other people to use,&#8221; Raul Jordan, the co-founder of Prysmatic Labs, said in a statement that was sent to a news outlet.<\/p>\n\n\n\n<p>Harry Kalodner, the CTO of Offchain, says that the Prysmatic team will continue to work on the Prysm client after the acquisition. Kalodner told CoinDesk, &#8220;It is in no way an acquisition.&#8221; &#8220;As their time opens up,&#8221; Kalodner said, &#8220;they'll start to integrate more and spend more time working on the future of [layer 2].&#8221;<\/p>\n\n\n\n<p>Neither Offchain Labs nor <a href=\"https:\/\/coinscreed.com\/staging\/eth-developers-move-up-the-merge-release-date.html\" target=\"_blank\" rel=\"noreferrer noopener\">Prysmatic Labs<\/a> have talked about how much their deal will cost.<\/p>\n\n\n\n<p><a href=\"https:\/\/coinscreed.com\/staging\/gauntlet-raises-23-8m-from-a-series-b-funding.html\" target=\"_blank\" rel=\"noreferrer noopener\">Crunchbase<\/a> says that since Offchain Labs was started in 2018, investors have given it more than $120 million. With the addition of 11 new Prysmatic Labs employees, it now has more than 60 employees.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By buying the team behind Prysm, Ethereum&#8217;s most popular consensus layer client, Arbitrum is extending its layer 2 tentacles down to Ethereum&#8217;s base layer. Offchain Labs, the company behind the Ethereum layer 2 network Arbitrum, said it was buying Prysmatic Labs, which was one of the main engineering teams behind Ethereum&#8217;s move to proof-of-stake. The [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":37332,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[4579,128,11770],"class_list":["post-37330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-arbitrum","tag-ethereum","tag-offchain-labs"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/10\/image-50.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/37330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=37330"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/37330\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/37332"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=37330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=37330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=37330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}