Full-Time
Posted on 7/29/2024
Develops scaling solutions for Ethereum blockchain
Mid
Remote in USA
Offchain Labs develops scaling solutions for the Ethereum blockchain, with its main product being Arbitrum. Arbitrum enhances Ethereum transactions by making them faster and cheaper, addressing the issues of congestion and high costs that arise when many users access the network simultaneously. The technology uses rollup technology to bundle multiple transactions before sending them to the Ethereum blockchain, improving efficiency. Offchain Labs serves a variety of clients, including developers, businesses, and individual users in the blockchain and cryptocurrency sectors. Unlike many competitors, Offchain Labs focuses specifically on Layer 2 solutions, which operate on top of the main blockchain to boost performance. The company's goal is to make Ethereum more accessible and efficient, generating revenue through transaction fees and potentially offering premium services for larger enterprises.
Company Size
51-200
Company Stage
Series B
Total Funding
$139.8M
Headquarters
Princeton, New Jersey
Founded
2018
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Remote Work Options
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Home Office Stipend
Tether has picked Layer 2 Ethereum protocol Arbitrum to provide the infrastructure for its new cross-chain initiative, Legacy Mesh.The news follows Tether’s launch of a new token, dubbed USDT0, in mid-January to facilitate smoother cross-chain transfers of USDT outside of blockchains that already support it. The aim was to do it without needing to use techniques like wrapping tokens or blockchain bridges.USDT0 is pegged one-to-one with Tether’s flagship stablecoin, USDT. It's currently the world’s largest stablecoin with a market cap of $141 billion according to CoinGecko. It runs on LayerZero’s Omnichain Fungible Token (OFT) standard, which has been used by other stablecoins such as PayPal’s USD stablecoin, PYUSD.The Arbitrum blockchain will act as a “hub chain,” connecting the USDT and USDT0 networks. Through it, USDT deployments on Arbitrum, Ethereum, Tron, Ton, Ink, and Berachain will link back to a unified USDT0 network.Steven Goldfeder, co-founder and CEO of Offchain Labs, which develops Arbitrum, said, "The Legacy Mesh is an important milestone for Arbitrum, ensuring that users and developers have access to deep, liquid markets regardless of the blockchain they are on."Tether has been on a roll since 2025 when it comes to increasing interoperability with other blockchains. Tether recently incorporated interoperability with Bitcoin via the Lightning Network at the end of January, following announcing the move at a Bitcoin conference in El Salvador.The stablecoin issuer has also been reporting record numbers when it comes to its finances
Bluwhale AI Inc. has raised $100 million to develop an "intelligence layer" for decentralized AI agents across Layer-1 and Layer-2 blockchain networks. Partnering with Caldera Network Inc., Bluwhale will create a Layer-3 zero-knowledge rollup network called Oceanum, enhancing AI application scaling. The funding includes a $75 million token purchase and contributions from investors like Cointelegraph and SwissBorg. Oceanum aims to decentralize AI by aggregating data securely and efficiently.
Offchain Labs has appointed Ira Auerbach as head of Tandem, its partner studio and venture capital arm, aimed at enhancing blockchain adoption.
Market leader appointed to accelerate Tandem, Offchain Labs' partner studio and venture capital armNEW YORK, Jan. 9, 2025 /PRNewswire/ -- Offchain Labs , the team of initial core developers behind Arbitrum, and the Ethereum consensus client Prysm, today announced the appointment of Ira Auerbach as Head of Tandem, the company's partner studio and venture capital arm. Auerbach joins Offchain Labs from Nasdaq, where he served as Senior Vice President and Head of Digital Assets.In his new role, Auerbach will lead Tandem, a division of Offchain Labs that focuses on supporting select projects building innovative blockchain applications and infrastructure solutions. Auerbach and team will be equipped to provide projects with valuable resources specific to their needs, including technical expertise, research, financing, and/or go-to-market strategy. Projects under Tandem's purview will have direct access to Offchain Labs, working in line with the company's executive team, core developers, and vertical experts to continue pushing the blockchain ecosystem forward."I'm thrilled to join Offchain Labs and lead Tandem at this pivotal moment in blockchain innovation," said Auerbach. "Tandem's unique position to leverage Offchain Labs' deep technical expertise and ecosystem relationships creates an unparalleled opportunity to support and accelerate projects that will define the future of blockchain technology."Auerbach brings extensive experience in digital assets and financial technology to Offchain Labs
ChainCatcher news, according to CoinDesk, Arbitrum's developer Offchain Labs announced at the CES 2025 conference that the Arbitrum Foundation has granted the largest developer subsidy in history to South Korea's Lotte Group.