Description
Offchain Labs is a venture-backed company, founded out of Princeton University, that is a key player in blockchain research and development. As the original creators of the Arbitrum technology, they have significantly impacted the industry with leading network scaling solutions. Arbitrum is a Layer 2 (L2) scaling solution for Ethereum, designed to increase transaction throughput and reduce costs. It offers a suite of scaling solutions including Arbitrum Rollup (an Optimistic rollup) and Arbitrum AnyTrust for ultra-low-cost transactions. The ecosystem supports a wide array of decentralized applications (dApps) in DeFi, NFTs, and gaming. Offchain Labs continues to innovate with products like Arbitrum Orbit for launching custom L3 chains, Stylus for multi-language smart contract development, and BOLD for enhanced security. The Arbitrum Foundation supports the development and governance of the ecosystem. In October 2022, Offchain Labs acquired Prysmatic Labs, makers of Prysm, the leading consensus client for Ethereum, further cementing their commitment to the Ethereum ecosystem.