Plasma Group Refocuses on Public Goods Funding After Scalability Research

Plasma Group Changes Course

In a surprising turn of events, Plasma Group has decided to pivot its focus away from Ethereum scalability research, citing the advancements made in the field over the past year. In a blog post published on January 9, the non-profit organization announced it would halt its studies and concentrate its efforts on funding public goods.

From Research to Realization

Founded in January 2019, Plasma Group was established to explore scalability solutions utilizing Plasma technology. With financial backing from several organizations, including the Ethereum Foundation and ConsenSys, the team made significant strides in creating practical solutions for layer-two scaling. Their key achievements included:

Creation of Plasma Cashflow implementations
Release of a generalized Plasma specification
Introduction of Optimistic Rollup technology

These contributions transformed Plasma sidechains into robust blockchains capable of supporting smart contracts beyond mere money transfers.

An Overdue Transition

After a year of intensive research, the team concluded that the theoretical underpinnings of Plasma scalability were sufficient, prompting their shift. In their blog, they stated, “A year ago, scalability research felt like the most pressing need to us… This shift from research to implementation means that our mission as a research organization must shift as well.” Apparently, they have clocked out of research as if it were 5 o’clock on a Friday!

Funding for Public Goods: The New Frontier

While still acknowledging that scalability remains crucial, Plasma Group is now focusing on the funding of public goods, like open-source software. This was highlighted as a key challenge in the blockchain world, a sentiment echoed by Ethereum’s creator Vitalik Buterin back in 2014. The question remains: Who knew public goods would become the hot new trend in blockchain? Let’s hope the funders are ready to take a leap!

Partnering with Gitcoin

As part of its new commitment, Plasma Group pledged to donate its remaining funds to Gitcoin, a well-known crowdfunding platform that bolsters open-source projects. Plasma Group, which has benefited from Gitcoin’s grants in the past, is now putting its money where its mouth is. Gitcoin is set to turn those dollars into community-sourced magic, hopefully fueling a multitude of blockchain innovations!