Allinstation 
Nếu bạn have ever participated in Web3, you are probably familiar with the Metamask wallet, the most widely used decentralized wallet. However, few people know about Consensys, the company behind not only Metamask but also many other prominent names like Infura, Linea, and more. Let’s explore this giant with Allinstation through the article below!
The History and Development of Consensys
Consensys was founded by Joseph Lubin in early 2015 as a software workshop to develop decentralized software services and applications operating on the Ethereum Blockchain. From the early days, ConsenSys focused on promoting the development of the Ethereum ecosystem by developing innovative products and solutions.
On October 31, 2018, Consensys expanded its operations by acquiring Planetary Resources, an asteroid mining company, to explore new opportunities in the space sector. However, shortly after, in December 2018, Consensys announced a major restructuring plan, expected to cut 13% of its 1,200 employees. Subsequently, in February 2020, Consensys continued to reduce its workforce by 14% to adapt to changes in the business environment.
In August 2020, Consensys completed the acquisition of the Quorum blockchain platform from JPMorgan Chase & Co., although the financial terms of the transaction were not disclosed. This event marked a significant step in expanding Consensys’s blockchain technology capabilities.
In November 2021, Consensys successfully raised $200 million from major investors such as Animoca Brands, Coinbase Ventures, and HSBC, bringing the company’s valuation to $3.2 billion. By March 2022, Consensys continued to impress with a new funding round worth $450 million led by ParaFi Capital, with participation from notable investors like Microsoft, SoftBank, and Temasek.
Most recently, in June 2023, Consensys underwent a major rebranding, including introducing a new company story, a new logo, and changing its name from “ConsenSys” to “Consensys” to better align with its current development strategy.
Consensys is not just a software company but also an important part of global development in the blockchain and digital financial technology sectors.
Consensys Projects and Services
Consensys, as one of the leading companies in the Ethereum ecosystem, is involved in various Blockchain projects and services, aiming to develop and expand the application of this technology in many fields.
MetaMask
MetaMask is one of Consensys’s standout products. It is a decentralized wallet that allows users to store and transfer cryptocurrencies and tokens, as well as access and interact with decentralized applications (DApps). MetaMask can be used for free via a browser extension or a mobile app.
Currently, Metamask has not released a token, but with the largest user base in the Crypto market, they still generate significant revenue from supported products in the wallet, charging a 0.875% fee on each swap or bridge transaction.
Infura
Infura is a Blockchain infrastructure service providing tools and infrastructure that allow developers to easily connect their applications to blockchains. Infura helps web3 developers build applications easily with popular APIs that provide robust and reliable access. The Infura network not only supports MetaMask but is also used as a backend for many other Ethereum services and applications not owned by Consensys.
Quorum
Consensys Quorum is a customized version of Ethereum for businesses and organizations with high security and performance requirements. Quorum allows customization of features such as access control and data protection to meet the needs of organizations.
This product is used by many global businesses and government agencies, including JP Morgan, BOSCH, and Microsoft. Consensys acquired Quorum from JP Morgan in August 2020.
Truffle
Truffle is a smart contract development toolkit on the Ethereum platform, acquired and developed by Consensys in 2020. Truffle provides tools and libraries to help developers write, test, deploy, and manage smart contracts on Ethereum.
With features like automated contract deployment, Solidity code testing, and a convenient command-line interface, Truffle helps developers quickly build blockchain applications without worrying about the technical details of Ethereum.
Linea
Linea is Consensys’s latest Layer-2 project. Linea defines itself as a new platform for the next generation of Ethereum developers, enabling innovation without being constrained by cost or scalability.
Linea uses zkRollup technology, along with zkEVM, to support developers in easily scaling from Ethereum to Linea without spending too much effort, money, and time.
Other Projects
In addition to its main products, Consensys has initiated and invested in many other projects that are not core to the business or have become more independent entities. Notable projects include Meridio, a platform that allows the creation, management, and trading of fractional ownership in real estate assets, and Gnosis Safe, a secure digital asset management platform on Ethereum.
Through these projects, Consensys not only contributes to the development of blockchain technology but also promotes innovation in financial and decentralized applications globally.
Consensys Executive Team
ConsenSys was founded by Joseph Lubin in 2014, and he currently serves as the company’s CEO. Under Joseph Lubin’s leadership is a team of top experts in the blockchain and technology fields. Andrew Keys, co-founder of ConsenSys, is currently the Managing Partner of ConsenSys Capital. Kavita Gupta, Executive in Residence at ConsenSys, is also the director of ConsenSys Ventures. Amanda Gutterman holds the position of Chief Marketing Officer, while Rob Keenan is the Chief Operating Officer (COO). John Lilic is currently the Director of Strategy, and Sam Cassatt is the Director of Research. Lex Sokolin serves as the Director of Financial Strategy, and Joseph Chow is the Global Operations Director.
The leadership team of ConsenSys includes many outstanding experts from various industries, but only Joseph Lubin has held the role of Founder and CEO since the company was established. The senior leadership positions at ConsenSys may change over time, so information about the leadership team also needs to be updated regularly.
Consensys Investment Deals
ConsenSys is not only prominent in developing blockchain applications but also has an important investment arm called ConsenSys Mesh. Similar to Binance Labs of the Binance exchange, ConsenSys Mesh focuses on five main areas to promote development and innovation in the blockchain ecosystem.
ConsenSys Mesh incubates potential projects like Gitcoin, Decrypt, and MetaMask, supporting startups in the early stages of development. Tachyon is a 12-week accelerator program for new projects, with participation from notable names like PieDAO, Idle, and Transak. In the field of DAO Investing, ConsenSys actively invests in Ventures DAOs like The LAO, Fingerprints DAO, and Dark Horse DAO, while also participating in the management and operation of these organizations.
ConsenSys Mesh also focuses on portfolio management, including investments in equity and token assets of companies like Sorare, BlockFi, and Chainsafe. The Research and Development (R&D) department of ConsenSys Mesh continuously develops new technologies contributing to the Ethereum Foundation.
To date, ConsenSys Mesh has executed over 190 investment and acquisition deals, covering various fields such as infrastructure, DeFi, NFT, On-ramp, and Web3. Among the notable deals, ConsenSys has acquired companies like MyCrypto, Truffle Suite, and Quorum, while also investing in projects like Sky Mavis, Compound, Transak, and Gnosis.
The Future and Vision of Consensys
Consensys continuously aims to build a bright future for cyberspace through blockchain technology and Web3. The company’s vision is to create a decentralized internet environment where users have control over personal data and own the values they create in the digital space. With the strong development of blockchain technology, Consensys aims not only to develop tools and platforms to support the global creator community but also to expand its influence to new markets, including Vietnam.
Consensys is committed to building infrastructure and technology solutions to promote a fairer and more transparent digital world. The company believes that Web3 will not only be a new technology but also the foundation of the next-generation Internet, where transparency, privacy, and ownership are emphasized. By investing in potential projects and collaborating with global businesses, Consensys hopes to contribute to creating an expansive and sustainable cyberspace for developers and users worldwide.
Conclusion
Consensys has become a key force in the blockchain and Web3 world, thanks to advanced products and services like MetaMask and Infura. With efforts to invest in and nurture new blockchain projects, Consensys continues to expand its global influence and shape the future of cyberspace.
Allinstation hopes that the above information provides you with a basic perspective on Consensys to better understand the market and investment.
