Blockchain protocol Algorand’s chief govt officer Steven Kokinos has introduced he shall be leaving his place to deal with initiatives associated to scaling adoption.
In a Wednesday Twitter thread, Kokinos said he shall be transitioning out of his function as Algorand, the place he labored as CEO from October 2018 after leaving software program growth firm Fuze. Based on Algorand, Kokinos will stay on the agency as a senior adviser concerned in “key initiatives” till 2023 whereas former chief working officer W. Sean Ford will act as interim CEO.
“[Kokinos] has been instrumental to the preliminary success of our enterprise, and we admire his dedication to a seamless transition,” said Algorand founder Silvio Micali. “Sean is nicely positioned to accomplice with me to maintain the corporate operations operating enterprise as standard, and to assist us transition Algorand to our subsequent section of progress.”
At present I wish to share with the #algofam that I’m transitioning out of my present function as @Algorand’s CEO to deal with key initiatives within the @Algorand ecosystem that may assist scale adoption. (a ).
— Steven Kokinos (@stevekokinos) July 27, 2022
The worth of Algorand’s token (ALGO) didn’t appear to be affected by the announcement, rising lower than 1% within the final hour to achieve $0.31 on the time of publication. The ALGO worth has fallen roughly 87% since reaching an all-time excessive of $2.37 in September 2021.
Associated: What’s the Algorand blockchain, and the way does it work?
In an April interview with Cointelegraph, Micali mentioned he anticipated “hypothesis will disappear, and real-world use circumstances of the blockchain will begin” throughout the subsequent yr based mostly on extra expertise and elevated scalability. The crew behind the Algorand protocol beforehand pledged to make it a carbon-negative blockchain by implementing a “sustainability oracle.”
