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ConsenSys Acquires HAL to Improve its Web3 Development Endeavours

source-logo  coinnounce.com 22 February 2023 12:53, UTC

The blockchain alert tool HAL was recently acquired by ConsenSys for an amount that has yet to be disclosed to simplify Web3 implementation. Reports indicate (1) that the no-code blockchain development tools provider HAL will bring ten of its staff over to ConsenSys due to the acquisition of HAL.

In addition, HAL will move over forty application programming interfaces (APIs) that use blockchain technology to Infura, the well-known Web3 connectivity layer developed by ConsenSys.

Amid the next-generation, decentralized internet development, the crossover APIs are designed to improve tools such as Infura and simplify their utilization.

The acquisition of HAL demonstrates ConsenSys' commitment to continuously improving its core product range. Also, the blockchain software and technology business is placing its hopes in HAL to assist it in developing superior technologies for a decentralized future.

Eleazar Galano, the co-founder of Infura, made the following observation in response to the ConsenSys Web3-focused purchase of HAL and all of its appurtenances:

"HAL is an excellent addition to the Infura ecosystem since it gives users more than 40+ higher-level APIs for blockchain and on-chain monitoring and signaling. This integration marks a significant step forward in Infura's aim to evolve beyond being the best RPC supplier and become the leader in blockchain development tools.

Marco De Rossi, President of HAL and co-founder of the company, chimed in on the latest advancement by saying:

"From the very beginning, we have held the conviction that building a bridge between Web3 and Web2 is of the utmost importance if we are to enhance the user experience of blockchain technology, make it accessible to people with less technical expertise, bring blockchain technology to a wider audience, and realize the trustless, people-empowerment vision of Web3 that we are all so excited about.

De Rossi said the collaboration with ConsenSys "dramatically quickens the impact of HAL technology by making it available to millions of consumers."

How Will HAL Acquisition Benefit ConsenSys?

HAL is a program that allows users to produce notifications for various activities and assignments, and it works as a blockchain alert system. It does this by sifting through data relating to protocols. Trading, voting in government, and complying with tax laws are all part of these tasks.

As a result of the acquisition, Infura can now incorporate the customizable webhooks and notification service offered by HAL into its developer stack. In addition, this change would make it possible for developers to build notifications and alerts at the level of the protocol for a variety of different signals.

The purchase of HAL by ConsenSys contributes in another way to Infura's broader mission to create an open and decentralized web. This capability can be realized by providing blockchain developers with potent tools that are compatible with a wide variety of networks and applications.

The acquisition strengthens meta mask's capability by allowing it to provide a notification system that is both more dynamic and more individually tailored.

Recent Activiies of ConsenSys

A year had passed since the New York-based blockchain corporation ConsenSys had completed the purchase of MyCrypto before it acquired HAL. This acquisition was made to bolster metamask's cooperation and enhance user experiences on Web3 by utilizing the market-leading wallet base.

The integration of HAL can build on the customer experience enhancements that have been made since the acquisition of MyCrypto.

ConsenSys announced that the company intends to lay off 97 employees to "adapt to challenging and uncertain market conditions" last month. With the news, the corporation became the most recent major participant in the technology sector to cut its workforce in response to the ongoing economic instability.

Despite this, ConsenSys has promised to support the impacted staff members and make their leaving easier to bear. According to the company's policy, departed workers would be eligible for severance packages based on their service length.