Joseph Lubin announces creation of ConsenSys Mesh to advance Web 3.0 and DeFi

ConsenSys has created a new firm, Mesh, which will unite disparate teams, products, and investments in the Ethereum ecosystem ahead of the Web 3.0 and DeFi era. The announcement was made by the company’s chief executive and the co-founder of the second-largest cryptocurrency by market capitalization, Joseph Lubin.

The creation of Mesh is part of a broader plan to separate venture activity from software development.

Under this banner, ConsenSys will bring together management of more than a hundred startups, including BlockFi, Trustology and Compound Labs.

“Mesh will continue the mission of advancing decentralized protocols, infrastructure and applications. We aim to develop the Ethereum ecosystem and increase convergence across full Web3 and DeFi stacks,” Lubin explained the essence of the undertaking.

Mesh will keep exploring the bleeding edge of our increasingly diverse and innovative ecosystem. We want to keep pushing Ethereum forward, while also collaborating and increasing convergence across decentralized protocols and the full Web3 & DeFi stacks.

— Joseph Lubin (@ethereumJoseph) September 28, 2020

The head of ConsenSys highlighted areas of particular interest to him. Among them are the transition to ETH2, gas-cost optimization and scalable solutions, risk management, and network-level collaboration. Lubin hinted at news coming soon.

Areas of particular interest to me right now are Eth2 (it’s happening!), gas optimization & scalability solutions, risk management, and network-based collaboration. We’re focusing on many of these in Mesh and we look forward to sharing more news & updates soon.#ConsenSysMesh

— Joseph Lubin (@ethereumJoseph) September 28, 2020

What is Ethereum 2.0?

On September 29, in the final Ethereum 2.0 testnet named Medalla, the number of active validators reached 63,258. They staked nearly 2 million test ETH.

Medalla testnet dashboard. Source: Beacоncha.

If the final testing phase proceeds without major issues, the next step will be Phase 0 of Ethereum 2.0.

The final testnet Medalla started on August 4. Ten days later, a glitch occurred in the network, but Prysmatic Labs developer Raul Jordan ruled out delaying the launch of Phase 0.

Earlier developer Evan Van Ness reported that the Ethereum 2.0 launch could occur earlier than planned. Not long before, Ryan published the official EIP-2982 proposal, which envisages the launch of ETH2.

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