ConsenSys May Lay Off Up to 60% of Staff

ConsenSys is actively reviewing its portfolio of blockchain projects, either reducing its composition or cutting back funding for start-ups
21 December 2018   636

The blockchain startup ConsenSys can lay off 50-60% of its employees, not 13%, as previously reported. About this writes The Verge.

According to the documents at the source’s disposal, ConsenSys is actively reviewing its portfolio of blockchain projects, either reducing its composition or cutting back funding for start-ups.

To date, the company has supported approximately 36 different start-ups, with teams of between five and 50 people working in their teams. In general, the state of ConsenSys of 1200 people can be reduced by at least 50%.

Founded in October 2014, ConsenSys is focused on the development of the Ethereum network ecosystem. The new strategy, the head of ConsenSys Joseph Lubin announced in early December. In particular, he told staff that the company will tighten standards for supported startups.

Ethereum Foundation to Allocate $30M on Key Projects

For example, $3 000 000 will be spend to attract developers
22 May 2019   83

The non-profit organization Ethereum Foundation, which promotes and supports the development of the Ethereum ecosystem, will allocate $ 30 million for the development of key projects. Of these, $ 19 million will go to the “ether of the future”, $ 8 million to support the “ether of the present”, and another $ 3 million to attract developers.

The priority direction of development is Ethereum 2.0, second-level solutions for network scaling like Plasma, as well as other studies related to the transition of the ecosystem to the Proof-Of-Stake consensus algorithm.

We've actually already had all the research breakthroughs we need for a full implementation of eth2. This has been the case for about a year now.
 

Vitalik Buterin

Creator, Ethereum

At the same time, the organization attaches great importance to maintaining the current version of the network, which provides security of assets worth billions of dollars and hundreds of running decentralized applications.

In addition, $ 3 million will be spent on training developers and their further involvement in the work on the protocol, as well as on holding a Devcon conference and supporting regional communities.

The Ethereum Foundation retains about 0.6% of the total Ethereum emissions, but over time it expects organizations like DAO Moloch to partially finance the development of the ecosystem.