Polkadot Co-founder Gavin Wood Offloads CEO Title

Björn Wagner to serve as blockchain builder Parity Technologies’ new chief executive

share

key takeaways

  • Wood took on the Parity Technologies CEO role in 2020 but is looking to focus more on the business’s technology side
  • Wagner joined Parity a year after its founding in 2016 and was its chief commercial officer

Polkadot co-founder Gavin Wood is stepping down as CEO of Parity Technologies, the developers behind the proof-of-stake blockchain.

Parity co-founder Björn Wagner is set to replace Wood in the role, Wood wrote in a Friday blog post. Wood is set to remain the company’s majority shareholder and plans to transition to Parity’s “chief architect.”

“I’ll be pointing my regained focus towards exploring how we can contribute to making Polkadot and Web3 more relevant to large swathes of the population,” Wood said. “This will begin by helping the community design and build several interesting chain-integrated social primitives which I think are crucial for us to deliver a true Web3 platform.”

Parity was co-founded by Wood — as well as Aeron Buchanan, TJ Saw, Ken Kappler and Jutta Steiner — as EthCore in 2015. Before that, Wood co-designed the Ethereum protocol in 2013 with Vitalik Buterin and worked as chief technology officer of the Ethereum Foundation for about two years.

Wagner joined Parity as a co-founder a year later and went on to hold the title of the company’s chief commercial officer, according to his LinkedIn.

Wood took the chief executive reins in 2020, after the last of the initial founders exited Parity. 

“Over these last two years, quite possibly the largest element of the job as CEO has been to preside over the outfitting of our C-suite,” Wood said. “I saw this essentially as a means of freeing myself up to return to work full-time where I belong, on technology.”

Parity launched Polkadot with Web3 Foundation in May 2020 after several years of developing the blockchain. Wood, in a statement at the time, called Polkadot “the biggest bet in this ecosystem against chain maximalism.”

Polkadot launched parachain auctions last November — allowing projects vying for a spot in the ecosystem to launch their own crowdfunding efforts using the blockchain’s native token, DOT.

DOT’s market capitalization of roughly $6.8 billion is 11th highest among crypto coins — ahead of polygon (MATIC) and behind dogecoin (DOGE).


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

HYATT REGENCY SALT LAKE CITY

TUES, OCT. 8, 2024

Guided by the expertise of Blockworks Research Analysts team, this one day event will feature senior leaders, entrepreneurs, and developers from across the crypto industry. Attendees will have the opportunity to participate in an immersive experience to explore the latest trends, […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report cover graphics (1).jpg

Research

Wormhole is a suite of open-source, permissionless protocols used to move assets and queries across blockchains.  Despite being a common misconception, Wormhole is not just a token bridge. Nevertheless, protocols can build token bridges on top of Wormhole by leveraging the cross-chain messaging provided.

article-image

Ether is a commodity just up until the point it is not, or, ether is not a commodity just up until the point it is — whichever you prefer

article-image

The bull-market conference was filled with good feelings but little clarity on where the crypto industry is headed next

article-image

The Friday ruling was issued as a default judgment because Sameer Ramani “appears to have fled the country”

article-image

Bitcoin’s previous record high against the Euro was set in September 2021

article-image

As bitcoin ETFs grow larger and more liquid, due diligence teams at wirehouses and other investment firms are more likely to clear them, Bitwise researcher says

article-image

Sponsored

The TRON DAO team attended ETH Denver, one of the leading events in the blockchain space