The United States based blockchain incubator and investment company Blockchains LLC has recently acquired the German Ethereum dev team slock.it, as an official press release shared in the latest cryptocurrency news shows.
The team at slock.it reportedly counts around three dozen experts who are mostly known for the creation of the decentralized autonomous organization (DAO) project named “The DAO” which is now defunct. The co-founders and brothers of Slock.it, Christoph and Simon Jentzsch, will reportedly join the blockchain incubator (Blockchains LLC) under the roles VP of technology and director of blockchain development, respectively.
In the first few months of the acquisition, the newly linked organizations will probably ship a line of open-source tools for Ethereum developers. As the official organization agreement by the blockchain incubator and the dev team shows, they will work together on existing projects such as Blockchain’s digital asset custody product and slock.it and its “incubed” which aims to connect the Internet of Things (IoT) devices with the Ethereum blockchain.
What the coming altcoin news show is that the organizations will remain their separate offices in the US and Germany.
For those of you who don’t know or haven’t read the best cryptocurrency news sites reporting about these firms, in 2018 Slock.it deployed ‘The DAO’ which was basically a decentralized property-sharing application similar to Airbnb after a $150 million crowdfunding phase – a year before the blockchain incubator has made the move.
The DAO’s code contained flaws which hackers exploited to funnel $50 million in Ether (ETH) from the project. The fallout from the hack undermined confidence in both the Ethereum network as a hosting platform as well as the concept of DAO in general.
Meanwhile, the Ethereum Foundation has announced a re-release of its website in May. As the blog post announcing it shows:
“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.”
The news about the blockchain incubator Blockchains LLC has spread everywhere on the Web, being shared by many blockchain and altcoin news sites.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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