Cryptocurrency companies have been negatively impacted by the bearish sentiment in the market. While most companies’ revenues are falling, companies are having to lay off their staff. ConsenSys was the latest company to allegedly lay off some of its employees. Ethereum software firm and developer of altcoin wallet MetaMask, ConsenSys, is allegedly planning to lay off 100 or more employees. Here are the details…
There are layoff claims for altcoin company
According to the statements of an anonymous person who is reported to be related to the subject, ConsenSys plans to lay off employees. The New York City-based Ethereum studio currently has around 900 employees. The person in question said that it is understood that the planned cuts are in the process of being finalized and the exact number is not known at this point. This latest news adds to an already bad run for crypto employment, with US exchange Coinbase also announcing on Tuesday it will lay off 20 percent of its staff, or about 950.
By some calculations, around 27,000 people have lost their jobs in the industry since April last year. According to reports last week, Seychelles-based crypto exchange Huobi is also planning to cut its headcount by 20 percent. Moreover cryptocoin.com As previously reported, Genesis Global Trading, a wholly-owned brokerage subsidiary of Digital Currency Group, announced last week that it has cut 30% staff to stay afloat with 145 employees. In August of last year, it had already shrunk by 20 percent.
ConsenSys launches beta testnet for zkEVM scaling solution
Regardless of the layoffs, ConsenSys has made significant progress. ConsenSys has opened a private beta testnet for a new scaling and privacy technology called zkEVM built on Ethereum. ConsenSys uses the testnet to discover technology that could increase Ethereum’s speed and transaction costs by more than 100 times. ZkEVM stands for zero-knowledge Ethereum Virtual Machine.
Using the same tools and scripting language that developers are used to on Ethereum; It allows them to build applications without having to learn the cryptography and math skills needed to code with “zero knowledge”. The ConsenSys testnet has received more than 150,000 submissions since December. Beta participants can bridge assets between the Goerli testnet and zkEVM to test smart contracts, dapps, infrastructure and wallets.
Goerli testnet is a popular testnet for launching and testing new applications before launching them in a live environment. “We aim to find out if the developer experience of zkEVM has the potential to accelerate innovation in web3,” ConsenSys said in announcing the testnet.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.