Although regulatory pressure forced social media giant Meta (formerly Facebook) to sell off the Diem project to Silvergate Capital, developers from the now-defunct blockchain project continue to forge ahead with their vision. Former members of the team have now announced a protocol touted as the bedrock for web3 scalability. Following bureaucratic red-tapism and mounting constraints on Meta’s Diem blockchain, four former members from the protocol’s team formed Mysten Labs. The outfit aimed to develop a permissionless layer 1 solution optimized […]
