ConsenSys is a

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software technology company founded by Joseph Lubin and based in

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History

Joseph Lubin founded ConsenSys in early 2015 as a software foundry to develop decentralized software services and applications that operate on the Ethereum blockchain. On October 31, 2018, ConsenSys acquired

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, an asteroid mining company. In December 2018, ConsenSys announced a restructuring with projected layoffs of thirteen percent of its 1,200 staff, and in February 2020 announced the layoffs of a further 14% of staff. In August 2020, ConsenSys acquired Quorum from JPMorgan Chase & Co. Financial terms of the deal were not disclosed. In November 2021, ConsenSys raised $200 million at $3.2 billion valuation from Animoca Brands, Coinbase Ventures and

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among others. In March 2022, ConsenSys raised $450 million in a new round led by ParaFi Capital, with

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, SoftBank, and

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also joining as new investors in the company.

Projects

ConsenSys is involved in many different projects and services for

uses and applications.

MetaMask MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applica ...

is an Ethereum wallet application which allows users to store and transfer

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and tokens, as well as access and interact with decentralized applications built on the Ethereum blockchain. The software is free to use on desktop as a

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or through its mobile app. Infura is a blockchain node infrastructure service that allows apps and developers to get data from, and broadcast transactions to, the Ethereum blockchain. Infura's network is utilized as a backend for Ethereum services and applications, including

and many others not associated with ConsenSys. The company has started or invested in several different projects that are not considered to be core to their business, have been spun out into more independent entities, or are not wholly owned by ConsenSys. Some of these include ''Meridio,'' a platform used to create, manage, and trade fractional-share ownership in real estate assets, and ''Gnosis,'' a blockchain-based predictions marketplace.

ICOs

Several ConsenSys companies and projects have raised capital from the public in the form of initial coin offerings (ICOs). ''Gnosis'', a ConsenSys-backed prediction market project sold GNO tokens to the public in an ICO in April 2017. The company raised $12.5 million at $300 million valuation, completing its ICO in under 12 minutes. The valuation was criticized by several prominent members of the community. ''Grid+'', a ConsenSys company in the electricity distribution niche sold GRID tokens to the public in an ICO in September 2017. The company raised $29 million in the public token sale. ''Civil Media'', a ConsenSys-backed company that claims to use cryptocurrency to save journalism sold CVL tokens to the public in an ICO in October 2018. Civil was able to raise $1.8 million, less than the $8 million soft cap. It was later revealed that ConsenSys was the largest buyer of CVL tokens, buying 80% of the CVL tokens that went on sale. Virtue Poker is a ConsenSys-incubated company that uses the unique features of blockchain technology, in conjunction with peer-to-peer networking, to provide a safe and honest environment in which to play online poker.They raised 18 million dollars in the 2018 ico boom.

Controversies

Consensys has been involved in several controversies and lawsuits during the past few years. This includes a High Court challenge in Ireland against the ruling of the Workplace Relations Commission.

References

External links

* {{Official website, https://www.consensys.net/ Blockchain entities Companies based in Brooklyn Ethereum Software companies based in New York City