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New Research Group Ethlabs Strengthens Ethereum Ecosystem With Backing From Major Investors

Former Ethereum researchers are launching Ethlabs with backing from major investors. The focus is on scalability and institutional infrastructure within a more decentralized development model.

By Luc Vesters
• 2 min read
New Research Group Ethlabs Strengthens Ethereum Ecosystem With Backing From Major Investors

Key Takeaways

  • Ethlabs was founded by former Ethereum Foundation researchers as a new non-profit research and development institute.
  • The organization is backed by major Ethereum holders, including SharpLink Gaming, Bitmine Immersion Technologies, and Joe Lubin.
  • Ethlabs is focused on scalability, data availability, network finality, and infrastructure for institutional users.

A new non-profit research and development institute, Ethlabs, has been founded by former Ethereum Foundation researchers. The organization is backed by some of the biggest holders of Ethereum, including SharpLink Gaming, Bitmine Immersion Technologies, and Joe Lubin, Ethereum co-founder and CEO of Consensys.

Transition to a Decentralized Development Model

Ethlabs is led by five senior researchers who previously worked at the Ethereum Foundation. They are focused on topics like scalability, data availability, and network finality. Ethlabs is launching at a time when the Ethereum Foundation itself is going through a period of internal change, with several leaders and researchers leaving. This development reflects a broader shift toward a "multi-node" development model, where several independent organizations share responsibility for the continued development of the Ethereum network.

Joe Lubin stressed that Ethereum will now have multiple "steward nodes" that each help support the network's growth and protection in their own way. This model is meant to strengthen robustness and innovation across the ecosystem.

Focus on Scalability and Institutional Infrastructure

At first, Ethlabs is focused on speeding up transaction processing, increasing Ethereum's capacity, and improving infrastructure for institutional users issuing tokenized assets and stablecoins. Ethereum has a dominant position in the stablecoin market, with a 53 percent share in a $300 billion market, and it handles about half of the tokenized asset market, which is worth $32 billion.

The involvement of major players like SharpLink and Bitmine highlights the growing institutional interest in Ethereum. SharpLink is the largest corporate holder of Ethereum with more than 216,000 ETH, while Bitmine recently set up a $250 million ETH treasury and brought on prominent investors like Thomas Lee.

Relevance for European Crypto Developments

For European crypto fans and institutional players, the launch of Ethlabs could be an important development. It marks a shift toward more decentralized and diverse research efforts within the Ethereum ecosystem, which could help speed up innovation and adoption in Europe. On top of that, the focus on scalability and institutional infrastructure could help Ethereum fit more smoothly into regulated markets and financial systems in Europe.

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