Arbitrium’s Offchain Labs acquires leading Ethereum client

The parent company of Arbitrum, Offchain Labs, has announced that it has acquired Prysmatic Labs, a fundamental Ethereum development team.

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Prysm, the most popular client for Ethereum’s consensus layer, was built by the engineers of Prysmatic Labs. It was the Prysm Ethereum proof-of-stake client that first implemented the Ethereum merge.

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For Offchain Labs, the decision to bring Prysmatic Labs on board stems from the two companies’ mutual dedication to expanding Ethereum’s user base. The Ethereum roll-up chain, Arbitrum, was built by Offchain Labs as a layer-2 scaling solution.

Raul Jordan, the co-founder of Prysmatic Labs, remarked that the merger made perfect sense because both companies write their code in Go and are committed to releasing updates that contribute to Ethereum’s growth.

Inventor Preston Van Loon of Prysmatic Labs elaborated on this:

“Scaling Ethereum is more important than never, and this merger will help Ethereum further its impact globally” added.”

After the merger, the top layer 1 and 2 development teams will likely work closely together to speed up the delivery of scaling technology for Ethereum.

Offchain Labs’ core staff will handle future Prysmatic Labs development. While developing Arbitrium, though, they will keep supporting Prysm and won’t take a side in the Ethereum consensus debate. Moreover, the group will contribute heavily to the growth of the EIP-4844 data-sharding movement on Ethereum.