{"id":8136,"date":"2020-02-13T04:34:07","date_gmt":"2020-02-13T02:34:07","guid":{"rendered":"https:\/\/forklog.media\/?p=8136"},"modified":"2020-02-20T01:12:53","modified_gmt":"2020-02-19T23:12:53","slug":"no-power-vacuum-in-cosmos-what-founders-departure-entails","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/no-power-vacuum-in-cosmos-what-founders-departure-entails\/","title":{"rendered":"No Power Vacuum in Cosmos: What Founder\u2019s Departure Entails"},"content":{"rendered":"

Cosmos, the big one among blockchain interoperability projects, has its founder Jae Kwon leaving to work on another project. Soon after the news about Kwon\u2019s decision hit the news, criticism followed.<\/span><\/p>\n

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According to social media and the news, Jae Kwon is being accused of neglecting the Cosmos project, walking away from his responsibilities, abusing colleagues, and even pulling off an exit scam.\u00a0<\/span><\/p>\n

We\u2019ve looked into this situation to figure out what happened between Cosmos\u2019 developers, what\u2019s that new project of Kwon\u2019s, and what it may mean for the Cosmos project.\u00a0\u00a0<\/span><\/p>\n

Cosmos in a Nutshell<\/span><\/h2>\n

First, a brief reminder about the Cosmos project itself.\u00a0<\/span><\/p>\n

Cosmos is a blockchain framework developed by <\/span>Tendermint Labs<\/span><\/a>, whose legal name is All In Bits Inc. The company provides a software development kit to build public blockchains. <\/span>Cosmos Network<\/span><\/a> is meant to be \u201ca decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint consensus.\u201d According to the Tendermint <\/span>website<\/span><\/a>, at least $6 billion are managed by blockchains built with the kit.<\/span><\/p>\n

The network is an ecosystem of blockchains that follow certain common rules and can communicate with each other. A counterexample would be a bunch of blockchain networks like Bitcoin and Ethereum that, for the sake of argument, are entirely independent systems that do not interact directly.<\/span><\/p>\n

Cosmos Hub<\/span><\/a> is the first blockchain built in the Cosmos ecosystem. The Cosmos Hub system has its own ATOM token used for staking and governance needs. There are <\/span>multiple<\/span><\/a> other blockchains in Cosmos.<\/span><\/p>\n

There also is the <\/span>Interchain Foundation<\/span><\/a>, a Switzerland-based non-profit focused on promoting and supporting projects like the Cosmos Network and Tendermint.\u00a0<\/span><\/p>\n

Jae Kwon happens to be the CEO and founder of Tendermint Labs, the main architect of Cosmos, and the president of Interchain Foundation. The man is, or at least was, the ideological leader of the entire Cosmos endeavor.<\/span><\/p>\n

Kwon\u2019s Troubled Resignation<\/span><\/h2>\n

On January 29th, Daily DeFi reported that Jae Kwon is leaving Cosmos, which meant resigning as Tendermint CEO, to focus on some other project known as Virgo.\u00a0<\/span><\/p>\n

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@cosmos<\/a> CEO @jaekwon<\/a> is leaving the project to work on https:\/\/t.co\/BEsSrZLkmW<\/a> $atom<\/a> #cosmos<\/a> pic.twitter.com\/0ozQgCkI1d<\/a><\/p>\n

— daily defi $FRAX (@daily_defi) January 29, 2020<\/a><\/p><\/blockquote>\n