ConsenSys Closes $200 Million Financing Round

Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology solutions provider, ConsenSys announced today that it has raised $200 million in the latest funding round to expand its operations. HSBC and Coinbase Ventures joined the recent round.

ConsenSys received a valuation of $3.2 billion. Also, the blockchain firm highlighted a significant surge in the monthly active users of MetaMask. According to ConsenSys, MetaMask now has 21 million MAUs.

In the recent funding round, new investors Marshall Wace, Dan Loeb’s Third Point, ParaFi Capital and Think Investments contributed to the round alongside new partners that include Dragonfly Capital, Electric Capital, Spartan Group, DeFiance Capital, Animoca Brands, Coinbase Ventures and HSBC.

ConsenSys is planning to accelerate the expansion of MetaMask. Additionally, the company outlined its plan to add 400 new roles across its products and services. The latest financing round came nearly one month after ConsenSys acquired the Treum team and its NFT platform for an undisclosed amount.

“The paradigm shift to a world running on decentralized protocols is in full gear. The pace of adoption is now so rapid that we’ve more than doubled many of our core KPIs since this deal was struck over the summer. We are honored to partner with some of the top financial and strategic investors from both traditional and next-generation economies to accelerate the realization of Web3,” Joseph Lubin, the Founder & CEO of ConsenSys and Co-Creator of Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term, commented.

“As our technology crosses into the mainstream, we are already seeing the transformation of how larger and larger cohorts of builders, users, artists and enterprises live and work,” Lubin added.

MetaMask Wallet

MetaMask has been the key driver behind the latest success of ConsenSys. Compared to 2020, the overall users of MetaMask surged by approximately 38x.

“ConsenSys’ MetaMask wallet and other tools offer a unique platform for consumers, enterprises and developers to engage, build and create on the decentralized web. We are pleased to partner with ConsenSys to help unlock the unlimited potential of Web 3.0,” Daniel Loeb, the CEO and Founder of Third Point LLC, said.