Polkadot co-founder Gavin Wood announced this Friday (21) that he has stepped down as CEO of Parity Technologies, a company that serves as the main supporter of cryptocurrency. He made the statement in your official Twitter accounta. About an hour before the official announcement, Bloomberg had reported on the departure.

Wood will still be Parity’s main shareholder. Björn Wagner, also a co-founder of Polkadot, will take over.

The programmer, who is one of the founders of Ethereum, created the project in 2020. But unlike his first project, Polkadot has a system that autonomous contracts operate independently of the main blockchain.

In this model, contracts can be executed on so-called “parachains” (individual blockchains), whose security can be guaranteed by their own token.


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