The team behind the Layer-2 protocol Arbitrum, Offchain Labs, has acquired Prysmatic Labs, the developer of Ethereum’s client Prysm. The parties did not disclose financial terms of the deal.
We’re extremely happy to announce that we (@OffchainLabs) are acquiring @prylabs, the team behind Ethereum’s leading consensus client!
Let’s dive into details!🧵👇https://t.co/qIp5JqvZRi
— Arbitrum (@arbitrum) October 12, 2022
According to the press release, Prysmatic Labs will continue to oversee the Prysm client. The parties are also working on several joint initiatives aimed at the development of Layer-1 and Layer-2 networks.
“Prysmatic Labs joins Offchain Labs. We will continue to develop Prysm as a fully neutral, open-source consensus client. The team is also actively involved in Ethereum development and is one of the key developers leading the rollout of EIP-4844,” the statement said.
Prysmatic Labs is one of the principal teams behind the development of the The Merge upgrade architecture for Ethereum.
According to Client Diversity, at the time of writing Prysm is the most popular consensus client on the second-largest cryptocurrency network.
As noted, in September 2022 NFT marketplace OpenSea integrated support for Arbitrum.
Follow ForkLog’s bitcoin news on our Telegram — cryptocurrency news, rates and analysis.