Consensys - The Titanic who avoided the crypto-bear iceberg

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It all started with a tweet:

https://twitter.com/masonnystrom/status/1359481090629599236

And then it hit me, how did i know about Consensys. Its core product is Metamask, a wallet that i liked from the moment i try it, after the ever-so-complicated myetherwallet. It was love at first sight, and know i use it daily, for one thing or another. Still, i do not keep more than 2-300 dollars on it, most of the days. Even if it is about my keys, my wallet, but the last month hack and those 15 millions USD stole from a security company CEO just because he misclicked on a keylogger made me a bit cautious. My funds are well hidden, away from internet.

So these days Metamask is making 170 thousand bucks per day, with a volume of 20 million USD on average. With these ETH outrageous fees level, i would say it is not that bad. You can add other blockchains on it, like Ronin or Binance Smart Chain right now, and this is awesome. All you need in one app, one of too many people dreams. When the bear market started, they were in a bad situation, mostly because they were so heavily invested in ETH blockchain mostly. They fired 13% of their staff in December 2018, with another 14% of their staff laid off in April 2020, due to Covid-19. Keep in mind that at the beginning of 2018 Consensys was evaluated at 1 to 5 billion dollars. And now, with the price of ETH reaching a new ATH, must be much more. Yes, they stopped some side projects, but they are increasing steadily. From an almost bankrupted company to a modern unicorn, Consensys is a blockchain success story. You could be also if you kept all your 2018 portfolio. I must say, i sold 2 BTC and 60 ETH with next to nothing, fearing that crypto may die. I was fearful. And i lost the patience. Never again. I was lucky enough to keep some crypto, looking back with amazement and noticing that in December 2018 my portfolio has only £683 of crypto left. 

But enough about me, let's see some numbers related to Metamask wallet. In 2019 they had 264K active users, and they reached 1 million in October 2020, if i am not mistaken. Right now they got more than 4 million active users with a greater potential, directly related to the expansion of DEFI. They even introduced the Swap, with future use on view, after the fees are reaching a decent level. They also started to support Trezor external wallet and mobile support for both Iphone and Android. They are adapting to the market, and this is very good. Even now they are hiring Java Scripto and Type Script engineers. Check in here for an awesome job: https://boards.greenhouse.io/consensys/jobs/2572388.

The only issue that i have with it at the moment, is that is vulnerable at phishing, is you as an user do not take enough precautions. Just to give an example, to spare myself of explaining again, read this article: https://medium.com/metamask/new-phishing-strategy-becoming-common-1b1123837168.

What to say, Metamask passed the test of time, and survived the first major bear crash in the crypto history. Until now. 

Yours truly

George

 

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