Notably known for his role as co-founder of the Ethereum (ETH) blockchain, Gavin Wood announces that he is stepping down as CEO of Parity, the company behind the Polkadot (DOT) blockchain network. His succession will be ensured by Björn Wagner, also co-founder of Polkadot and Kusama (KSM).
Gavin Wood drops the reins of Polkadot
Polkadot (DOT) co-founder Gavin Woodannounced that he was leaving his position as CEO at Parity Technologies, the company that provides the infrastructure for the blockchain network.
Built around its native cryptocurrency, DOT, Polkadot is a protocol connecting multiple blockchains to form an interoperable architecture. To discover this ecosystem or to better understand how it works, read our page dedicated to Polkadot.
Besides, Polkadot now sits as a top project in our ecosystem, since DOT is the 11th most capitalized cryptocurrency on the marketjust behind the Dogecoin (DOGE).
Gavin Wood is a major figure in the blockchain ecosystem, since he notably contributed to co-founding the Ethereum (ETH) blockchain and its technologies underlying before devoting himself entirely to Polkadot in 2015. He will be replaced as CEO by Björn Wagnerco-founder of Parity.
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Polkadot will however keep its roadmap
In a blog post, Gavin Wood explains that he is above all ” a thinker, a coder, a designer and an architect rather than a CEO, a difficult role to play which, according to his feelings, poses too many barriers. In this regard, he explains as follows:
“The role of CEO was never one I coveted (and it goes way back before Parity). I can pretty much play the role of CEO for a short while, but that’s not where I’ll find eternal happiness. »
Note, however, that it will continue to helm the Polkadot ecosystem and that he will continue to work for its proper development as “ chief architect “. He also states that he has complete confidence in his successor Björn Wagner:
“For me, that means fewer meetings and less time spent representing the company externally. I will remain the majority shareholder of the company and retain a title commensurate with my desired workload: Chief Architect. […] Fortunately, I’m happy to report that Björn Wagner, co-founder of Parity and founder of the Ecosystem Development division, has agreed to wear this hat for the future. »
This is the third departure noted in our ecosystem, the news echoing the recent resignation of Brett Harrisonthe former CEO of the American branch of the FTX exchange, or even the departure of Jesse Powell, the CEO of Kraken.
The DOT price was unaffected by the news, with a slight drop of 0.4% over 24 hours.
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Source: Bloomberg
Image source: TechCrunch via Flickr (CC BY-NC-ND 2.0)
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