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Polkadot CEO steps back from the company behind the blockchain

Ethereum co-founder and Polkadot CEO Gavin Wood has stepped down from his role as CEO of Parity Technologies, Bloomberg reports.

By Luc Vesters
• 2 min read
Polkadot CEO steps back from the company behind the blockchain

Ethereum co-founder and Polkadot CEO Gavin Wood has stepped down from his role as CEO of Parity Technologies, according to Bloomberg. The company is working on its infrastructure for the Polkadot blockchain, which Wood founded after his time at Ethereum. In the meantime, Björn Wagner, Parity co-founder, will become the new head of the company. Wood is stepping back and taking the role of Chief Architect. Wood cited personal reasons as the background for his departure. In his own words, the role was not meant to be a "forever gig" that way.

Gavin Wood worked at Ethereum until 2016, where he played a key role in developing the Solidity programming language and later served as chief technology officer (CTO). After leaving Ethereum in 2016, he focused on his new project Polkadot (DOT), which focused mainly on interoperability between blockchains.

DOT now has a market capitalization of about $6.8 billion. The blockchain is considered robust within the crypto sector and consistently sees high developer activity. Recently Polkadot hit a peak in developer activity, likely tied to the publication of new changes to the roadmap.

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