United States-based blockchain incubator and investment firm Blockchains, LLC, has acquired the German Ethereum dev team slock.it, according to a press release on June 3.
Slock.it’s team is reportedly around three dozen large, and
is known for its creation of the now-defunct decentralized autonomous
organization (DAO) project “The DAO.”
Co-founders and brothers Christoph and Simon Jentzsch will reportedly
join Blockchains as VP of technology and director of blockchain
development, respectively.
During the first few months
of the acquisition, the newly-linked organizations will reportedly ship a
line of open-source tools for Ethereum developers. As per the
organizations’ acquisition agreement, teams will reportedly work
together on existing projects, such as Blockchains’ digital asset
custody product and slock.it’s “Incubed,” which purports to connect
Internet of Things (IoT)
devices with the Ethereum blockchain. The organizations will continue
to stay in their separate offices inside the U.S. and Germany.
In
2018 slock.it deployed ‘The DAO,’ which was a decentralized
property-sharing application similar to Airbnb following a $150 million
crowdfunding. However, The DAO’s code contained flaws which hackers
exploited to funnel $50 million in ether (ETH) from the project.
The
subsequent fallout from the hack undermined confidence in both the
Ethereum network as a hosting platform and the concept of DAO’s in
general.
As previously reported
on Cointelegraph, the Ethereum Foundation announced a re-release of its
website in May, aimed at promoting the development and dissemination of
community resources.
As per their official blog post,
the website is intended to curate community-created content for
developers as its core documentation, not to replace them with official
write-ups:
“Ethereum.org’s purpose is to be a
portal to those resources, not a substitute for them. Ethereum.org will
prioritize linking to content created by the community, as opposed to
hosting native content on every topic. Through community contributions,
the website will evolve over time to always surface the best relevant
material about Ethereum.”
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