ConsenSys, the Ethereum software incubator behind tools like Infura and Truffle, is buying the backbone of the Web 3 ecosystem. The company ...
The company today announced the acquisition of MyCrypto, a wallet interface for securely managing Ethereum addresses. The startup and its 12 employees will run MetaMask ConsenSys, the most popular Ethereum wallet.
“We share a lot of values and it is obvious that our joint efforts will be able to reach great heights,” Taylor Monahan, CEO of MyCrypto, comments on the deal.
MetaMask co-founder Dan Finley, for his part, sees a number of areas where MetaMask and MyCrypto can improve on each other's offerings. While MyCrypto is focused on its web browsers and desktop applications, MetaMask's strengths lie in its mobile app and browser extension, as well as its integration with decentralized applications on Ethereum, where the wallet is almost ubiquitous.
Details of the deal were not disclosed. But it's worth noting that in November, ConsenSys raised $200 million at a $3.2 billion valuation. By the way, this is not the first joint solution: MyCrypto's CryptoScamDB is used in the MetaMask phishing detection service.
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ConsenSys and Mastercard have announced a service to scale the Ethereum network. The new solution is able to expand the capabilities of the conventional blockchain infrastructure, which in the future will allow decentralized exchanges, micropayments, confidential transactions, and even CBDCs to be launched on its basis.
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