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Polkadot Co-founder Gavin Wood Steps Down As CEO Of Parity

Polkadot co-founder Gavin Wood is stepping down as CEO of blockchain infrastructure business Parity.

Björn Wagner, another Parity co-founder, will take his position. Parity is a major contributor to the Polkadot blockchain ecosystem. Wood will remain the principal stakeholder and lead architect of Parity.

Gavin Wood said in a statement:

“The role of CEO has never been one which I have coveted (and this dates back long before Parity). Anyone who has worked with me knows where my heart lies. I’m a thinker, coder, designer and architect. Like many such people, I work best asynchronously.”

The former CEO stated that he has spent a significant amount of time in the last two years overseeing the outfitting of the company’s C-suite:

“I’ll be pointing my regained focus towards exploring how we can contribute to making Polkadot and Web3 more relevant to large swathes of the population.”

Gavin Wood is also a co-founder of Ethereum and the creator of the Kusama network.

Parity was created as EthCore in late 2015, with Wagner joining as a co-founder a year later, according to Wood, who added that in the early days, their roles were pretty flexible.

Polkadot went online in 2020, giving users additional autonomy by allowing them to establish their own parachains that can communicate information with one another.

In June, the blockchain disbanded its council and launched a new governance structure dubbed Governance version 2 (or Gov2) in an effort to further decentralize decision-making on the blockchain.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.