A project working on scaling Ethereum closed

A project working on scaling Ethereum closed

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The Ethereum Name Service developers intend to convert all domains into unique tokens. On 4 May, the Ethereum Name Service (ENS) solution will

The research project of the Plasma Group has announced the termination of work. The nonprofit organization focused on creating Ethereum scaling solutions based on Plasma technology.

Dear Ethereum Community:

After a whirlwind year of R&D, it’s’s time for PG to evolve. You have our deepest gratitude for your support. It’s corny, but it has been and will continue to be an honor to work for this community ❤️

The project worked for a whole year, financing activities through the collection of voluntary donations. Among the sponsors of the Plasma Group are the Ethereun Foundation, Consensys, OmiseGo, Matic and others.

The group said that over the year, the study of scalability issues in Ethereum has reached the implementation phase, and its mission as a research organization should change.

In addition, the Plasma Group team emphasized that scalability was a priority for it, but the problem of “financing and maintaining public goods” for open source projects became clear.

Experts at the analytic company Messari believe that it was precisely the lack of funding that forced the Plasma Group to stop working.

However, the group announced their intention to transfer the remaining capital to the Bitcoin platform, which helps developers raise funds for creating open source software.

Earlier, Ethereum co-founder Vitalik Buterin called network scalability a “problem area”.

A project working on scaling Ethereum closed

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