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   624

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.

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   66

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.
 

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.