Gavin Wood is stepping down from his role as chief executive officer of Parity, the blockchain infrastructure company driving the Polkadot ecosystem (1). Wood will, however, continue to hold the position of the chief architect at Parity Technologies and will continue to serve as a majority shareholder in the company. Wood’s co-founder, Bjorn Wagner (2), will take over as the company’s new CEO.
In his explanation for his decision to step down as CEO of Polkadot, Wood, who had co-founded the company in 2015, indicated that he had never coveted the position of CEO and that it was not a title in which he envisioned himself finding “permanent bliss.” “Anyone who has collaborated with me is aware of the passions that drive me. I’m not only a thinker; I can also write code, design, and build things. He said, “Like many other people in this situation, I operate best asynchronously.”
I’m happy to announce that Parity co-founder Björn Wagner will step up to the role of company CEO while I retain the title of Chief Architect. https://t.co/A85FeMGZGI
— Gavin Wood (@gavofyork) October 21, 2022
In addition to this, Wood said that “a strong CEO needs to be available to people on a much more continual basis.” They need to have a positive attitude toward portraying the organization both internally and outside. They do not need to be distracted by significant chunks of their time being eaten up in calls and meetings with various colored boxes on their calendar.
Wood will focus his efforts in his new role as Chief Architect on making Polkadot “more relevant to huge swaths of the population.” He will work on increasing the number of people using Web3 technology by assisting the community in developing numerous chain-integrated social primitives and promoting their design.
He said, “This will begin by assisting the community in designing and building several interesting chain-integrated social primitives, which I think are crucial for us to deliver a true Web3 platform.” “This will begin by helping the community design and build several interesting chain-integrated social primitives.”
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More About the Founders of Parity
Wood, Aeron Buchanan, Ken Kappler, TJ Saw, and Jutta Steiner were the original founders of Parity in late 2015; prior to that time, the company was known as EthCore. At the beginning of 2016, the business launched the Parity Ethereum software client, which was developed in Rust. In 2018, Wood was recognized by Parity as the company’s chief web officer.
The Polkadot protocol was modified by Gavin Wood, one of the co-founders of Ethereum. The Web3 Foundation subsequently developed it, and Parity Technologies was responsible for its initial implementation. The initial coin offering in October 2017 brought in more than $144.3 million, and the protocol’s primary focus was enhancing blockchain scaling.
It has now established itself as a significant alternative to Ethereum in the field of smart contracts. Wood was the first developer to get an Ethereum testnet up and running, in addition to being a former member of the Ethereum team and a former member of the Ethereum team.