Co-founder of <a href="https://www.cryptoknowmics.com/news/polkadot-price-prediction-2022/">Polkadot</a>, Gavin Wood has announced his resignation as CEO of Parity Technologies. The Polkadot ecosystem, a blockchain infrastructure business, was created by Parity, a development firm, consisting of a collection of parallel blockchains, or parachains, governed by a central relay chain.
<h2>Wood to Have Majority Stakes in Parity Tech.</h2>
Gavin Wood will continue to have a controlling stake in Parity Technologies. Wood is a veteran cryptocurrency developer who co-founded Polkadot after leaving the <a href="https://www.cryptoknowmics.com/news/pancakeswap-considering-aptos-after-ethereum-integration">Ethereum</a> Foundation in 2015. Björn Wagner, his co-founder, will take over as CEO.

Gavin Wood <a href="https://www.parity.io/blog/parity-leadership-update/">admitted</a> in a statement made public on October 21 that he had no interest in becoming a CEO. He stated that it was not a role where he imagined himself finding permanent bliss, even though he could act as one for a short while.

https://twitter.com/gavofyork/status/1583516332515282944

Wood stated that anyone who has collaborated with Wood is aware of my core values. He further stated that,
<blockquote><em>“A good CEO needs to be available to others on a far more continuous basis. They need to enjoy representing the company, both internally and externally. They need to not be bothered by large swathes of their time becoming eaten up in meetings and calls with a plethora of multicolored boxes on their calendar.”</em></blockquote>
<h2>Aspires to Make Polkadot &amp; Web3 More Accessible to People</h2>
According to Wood, he will help make Polkadot and <a href="https://www.cryptoknowmics.com/news/cere-network-unveils-vision-2-0-primed-to-be-a-key-driver-of-web3-infrastructure-adoption-in-2023">Web3</a> more accessible to vast swathes of the populace in his new position. He will start this project by working with the community to create several chain-integrated social primitives that he feels are crucial to a genuine Web3 platform.

Wood, Aeron Buchanan, TJ Saw, Ken Kappler, and Jutta Steiner established Parity as EthCore in late 2015; a year later, Björn Wagner joined the company as a co-founder. Following its launch in 2020, the Polkadot ecosystem experienced rapid expansion, which led many industry watchers to consider it a potential rival to Ethereum for smart contracts.

Polkadot Co-Founder Gavin Wood Resigns From CEO Role

Co-founder of Polkadot, Gavin Wood has announced his resignation as CEO of Parity Technologies, a blockchain infrastructure business. He will continue to have a majority stake in the firm.

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Polkadot Co-Founder Gavin Wood Resigns From CEO Role

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