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Consensys is acquiring Special Mechanism Group (SMG).\u00a0<\/p>\n
The financial details of the deal were not publicly disclosed. As part of the acquisition, Consensys said that it plans to absorb SMG\u2019s operations.\u00a0<\/p>\n
SMG is a \u201ca mechanism design company known for its research focused on blockchain microstructure,\u201d Consensys said in a blog post. Consensys plans to use the company to \u201cmake Web3 accessible for all.\u201d<\/p>\n
Jason Linehan, former CEO of SMG<\/a>, will now be the director of Special Mechanisms Group at Consensys.\u00a0<\/p>\n \u201cDecentralized networks are the future. By joining SMG\u2019s expertise with the incredible products and scale of Consensys, we will make that future happen a lot faster,\u201d Linehan said.<\/p>\n The SMG deal represents the third acquisition Consensys<\/a> has made since 2022, according to the blog post.<\/p>\n In February, Consensys acquired Hal, a platform that allows for users to create trading, and governance voting, among others, and goes through blockchain data.\u00a0\u00a0<\/p>\n Last month, Consensys announced Metamask Snaps, allowing for further customization of MetaMask wallets. Solflare\u2019s Solana wallet<\/a>, on Sept. 12 announced its launch on Snaps.<\/p>\n The hope is to expand the framework, allowing for a decentralized community to both vet and approve new Snaps. As of last month, there were 34 Snaps available.<\/p>\n Don\u2019t miss the next big story \u2013 join our\u00a0free daily newsletter<\/a>.<\/strong><\/p>\n
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