Arbitrum Team Acquires Ethereum Development Team

Arbitrum Team Acquires Ethereum Development Team

Offchain Labs - Arbitrum's largest Layer 2 development and construction team, has officially announced the acquisition of Prysmatic Labs. Prysmatic is one of the key teams behind the Ethereum network and the transition to Proof of Stake. This shows the great ambition of the Arbitrum team, but also raises the question when Prysmatic has focused on developing Layer 1 Ethereum, the biggest "rival" of Layer 2?

About Prysmatic Labs

Prysmatic Labs is a group of 12 leading software developers. They all have long experience and strengths in blockchain construction. The team is invested by familiar big names like Vitalik Buterin, Ethereum Foundation or Gitcoin. So Prysmatic's main job is to build the infrastructure for Ethereum.

The team's flagship product is Prysm, an optimized application for Ethereum Proof of Stake. Prysm uses leading tools for servers and IPC, uses Google's gRPC library, BoltDB as a repository, and uses Protocol Labs libp2p for all peer-to-peer networks. To put it simply, Prysm is a very important infrastructure for Ethereum. Thanks to that, the team has continuously won the biggest prizes up to nearly 1 million USD in each Ethereum Foundation's ecosystem boost.

The potential of Arbitrum

Arbitrum is the largest Layer 2 currently in terms of TVL, twice as much as the top 2 coin Optimism. After completing Arbitrum Nitro, the fee on this system is among the cheapest in the market, while the processing speed is still fast and maintaining security. The money flow recently poured into Arbitrum very strongly when this Layer 2 is cherishing the possibility of launching a token.

For a more detailed understanding of the potential of the Arbitrum system, read more about Arbitrum Cash Flow. Which Projects Will Grow The Strongest?

With such a potential project, would the merger of Prysmatic Labs into Arbitrum have an adverse effect on the project? According to Ed Felten, Co-founder of Offchain Labs, he thinks that Arbitrum and Prysmatic Labs will grow together. Prysmatic will still operate in parallel, and develop products primarily for Ethereum. Importantly, as Vitalik said, the next step of Ethereum will be Rolls Up, the technology of Layer 2. And in the future, many important features of Ethereum will be implemented on these blockchains. Therefore, this action of Offchain Labs is a stepping stone to prepare for the future.

👉 Personally, in terms of technology, Arbitrum has enough power to be able to develop, it is not necessary to have Prysmatic. But the future is definitely the direction of centralized development of the market is still Ethereum. So taking the lead with Ethereum and the team behind it is a big step to give Arbitrum an advantage over other Layer 2s.

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