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Ethereum's Plasma Group shuts down, passes funds to Gitcoin

Ethereum's Plasma Group shuts down, passes funds to Gitcoin

[1/11, 11:52] Jb: A group dedicated to helping Ethereum to scale has decided to close things down. But it may get reborn later down the line.
[1/11, 11:53] Jb: Ethereum research organization Plasma Group has announced it will cease operations, in its current form. It will donate its remaining funds to Gitcoin, a platform connecting freelancers with jobs, while it seeks further funding, a new focus and perhaps a rebrand.

"This week marks the first anniversary of Plasma Group. It will also be the last," the blog post  stated, adding, "We will be donating the entirety of what we have left to Gitcoin. We believe Gitcoin is doing some of the most critical and underrated work not only in the blockchain space but also in the greater space of public goods."

Plasma Group was a nonprofit organization focused on researching how to make Ethereum more scalable. Specifically, it was helping to build Plasma, a second-layer scaling solution built on Ethereum—roughly its equivalent to Bitcoin's Lightning Network.