Gavin Wood – creator of Polkadot and co-founder of Ethereum – has exited his leadership position from the network’s major infrastructure provider, Parity Technologies. However, he will still remain closely involved with the company.
Though he will no longer be CEO, Wood will remain Parity’s majority shareholder, and will transition into a new role as its “Chief Architect.”
“The role of CEO has never been one which I have coveted,” said Wood in a statement about the transition on Friday. ”I can act at being a CEO well enough for a short while, but it’s not where I’m going to find eternal happiness.”
Wood said his exit will free up time for him to focus on coding new blockchain and web 3 technologies, including “chain-integrated social primitives.”
He also said he will be pointing his focus towards making Polkadot and Web 3 more accessible for the general population.
The new CEO will be Björn Wagner, one of Parity’s co-founders.
Wood was an early participant in the crypto ecosystem, contributing to Ethereum’s development just one month after Vitalik Buterin issued its initial whitepaper.
Polkadot – his primary focus today – helps separate blockchains communicate with each other, making them interoperable and enabling cross-chain transfer of assets. Its native crypto, DOT, is the 12th largest cryptocurrency by market cap.
A host of other crypto CEOs have resigned over the past few months, including Celsius CEO Alex Mashinksy and multiple executives at Genesis.
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