March 29, 2024

A project working on scaling Ethereum closed

The Plasma Group research project has announced that it will cease operations. The non-profit organization wasfocuses on creating Ethereum scaling solutions based on Plasma technology.

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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 thatScalability is a priority for her, but the problem of &#171;financing and maintaining public goods&#187; has become clear. for open source projects.

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 Gitcoin platform, which helps developers raise funds for creating open source software.

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