en.coin-turk.com
Cosmos founder Jae Kwon has expressed his opposition to the recent decision to decrease the maximum inflation rate of ATOM to 10%. Despite Kwon’s dissent, the proposal was approved, prompting Kwon to make a bold decision. He announced the upcoming hard fork of Cosmoshub4 by introducing a new network called AtomOne. Kwon’s announced hard fork aims to achieve advanced decentralization within the Cosmos ecosystem. It will be managed and operated independently by Kwon’s own strategic plan and development team.
Strengthening Decentralization with AtomOne
Jae Kwon’s decision to hard fork Cosmoshub4 into AtomOne signifies an important step towards strengthening decentralization within the Cosmos network. The new network will be operated by a dedicated team with a different strategic vision and focus on development. The purpose of this move is to provide the Cosmos community with a less centralized governance structure, emphasize greater autonomy, and offer a platform that can cater to the needs of its users. Kwon made this development announcement from Kwon X.
Cosmos ecosystem has become a center for innovation and development. However, the recent decision to decrease the maximum inflation rate of ATOM from 14% to 10% has sparked internal debates. Kwon’s decision to create AtomOne through the hard fork reflects the commitment to decentralization and community-oriented governance principles. While this move offers an opportunity for the Cosmos community to actively participate in shaping the future of the network, it aims to address the challenges within the existing governance structure.
Navigating Governance Dynamics
Governance dynamics in blockchain networks often involve different perspectives and interests. Jae Kwon’s dissenting vote and subsequent hard fork decision for Cosmoshub4 exemplify the complexities inherent in decentralized ecosystems.
As the blockchain space continues to evolve, effective governance models become crucial to ensure the sustainable growth and resilience of projects like Cosmos. AtomOne emerges as a response to the need for alternative approaches to governance, offering users a compatible option with their values and visions for the Cosmos network.
The announcement and upcoming launch of AtomOne open a new chapter for Cosmos, emphasizing the importance of decentralized decision-making and community participation. Kwon’s commitment to empowering the community through AtomOne reflects his dedication to the core principles supporting the Cosmos project and lays the groundwork for continuous growth and adaptation in the dynamic blockchain environment.
Following this development, there was a decline in the price of ATOM after yesterday’s 10% surge. The ATOM price dropped 5% to $9.53 from $10.