A Long-Term Hold on Decentribe Development

Today the Decentribe team is announcing that development on Decentribe-related products and services will be placed on a long-term hold.

The primary reason for the development hold is the current state of the Ethereum blockchain and the lack of viable layer 2 technologies that will support the dapps we were planning on developing.

We receive a lot of questions about what types of layer 2 or alternative solutions we would consider (e.g., polkadot, etc.). Our requirements for considering a solution are: 1. Less expensive transactions (our planned dapp, CoinEmpire, has 100s of txs per day), 2. Oracle present on Layer 2 to handle price feeds. 3. Battle-tested infrastructure. 4) Ease of use and secure blockchain.

Although we planned to move ahead with the NFT Genesis Sale, we do not feel it would be appropriate to raise funding because we are not confident on our ability to rapidly deliver dapps that will be cost-effective and successful given the current blockchain infrastructure.

We will continue to explore other options over the coming months, but we don’t expect to be ready to explore layer 2 options until the space matures (and meets our development requirements) — likely in 8–10 months.

We will keep this Telegram channel open (for the time being), as well as Discord, Medium and Twitter while we explore our development options.

We may be back with updates — when we are confident we can deliver on our vision — later this year.

Thanks to everyone for supporting us in this effort over the last few years.