Ethereum node project Akula has decided to stop its services, citing that it cannot compete with the newly announced rival project called Reth.
Companies serving in the crypto industry are going through tough times in terms of continuity. Companies that cite liquidity in the industry as a source and link their assets to the crypto industry are trying to survive. In particular, the bankruptcy of the FTX exchange marked the beginning of a new era. In the light of all these processes, activity started in the Ethereum ecosystem. Akula, one of the Node projects, decided to suspend its services, citing competition in the market.
Ethereum Node Project Akula Announces It Cannot Compete
Akula developers, who shelved the project, cited a competing project backed by venture capital as the reason for the decision.
The developers of Akula, an Ethereum client platform, targeted the project called Reth, which has similar features and is run by Paradigm. The developers stated that the project called Reth received stronger support and stated that they could not compete.
According to the announcement, the project has been completely terminated. The developers will no longer maintain and run the project. However, the code structure will be available as the project is open source.
The company stated that they are not in a position to compete with Venture Capitals.
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