Ethereum

Cosmos

<ul>
 <li>Kwon has declared his intent to fork a new network called AtomOne.</li>
 <li>The founder recently disclosed intentions of integrating $ATOM with $ATMO/$ATOM1.</li>
</ul>
<a href="https://metaschool.so/articles/ethan-buchman-jae-kwon-founders-cosmos-network-profile/#:~:text=Jae%20Kwon%20is%20a%20software%20engineer%20and%20entrepreneur,the%20cryptocurrency%20and%20blockchain%20communities%20for%20many%20years." target="_blank" rel="noopener noreferrer nofollow">Jae Kwon</a>, the founder of <a href="https://thenewscrypto.com/cosmos-hub-approves-reducing-maximum-inflation-rate-of-atom-to-10/" target="_blank" rel="noopener noreferrer nofollow">Cosmos</a>, publicly opposed a motion passed by the Cosmos hub governing council. In retaliation, Kwon has declared his intent to fork a new network called AtomOne from the existing Cosmoshub4.
The forthcoming network will function independently, complete with its own governance plan and development staff, and will prioritize <a href="https://byjus.com/commerce/what-is-decentralisation/" target="_blank" rel="noopener noreferrer nofollow">decentralization</a> in all aspects of its operation. The governing council of Cosmos Hub adopted a proposal to lower the maximum inflation rate of Cosmos (<a href="https://thenewscrypto.com/cosmos-atom-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">ATOM</a>), the native token, from 14% to 10%.
Moreover, according to reports, the authorized adjustment would reduce ATOM’s annualized stake income by around 6%. The Cosmos network is a group of linked blockchains, the primary of which is the Cosmos Hub. On the network, the ATOM token is utilized for staking, voting, and fees for transactions.
Only 41.1% of voters supported the initiative, while 38.5% were against. A surge of votes and some shifts in validators’ opinions turned the tide right before the deadline, even though it seemed like it would fail.
<h3 class="wp-block-heading" id="h-working-on-cosmosone">Working on CosmosOne</h3>
The proposal’s detractors also claimed that it would have a bad effect on small validators, which would have a knock-on effect on the retail sector and on firms engaged in the development, trade, and validation of ATOM. Also, a hardfork of the Cosmos Hub blockchain, which Jae Kwon plans to rebrand as CosmosOne, is in the works.
Kwon recently disclosed intentions of integrating $ATOM with $ATMO/$ATOM1 in an effort to prevent mass sales and a possible collapse of the market. Kwon stressed the need of enhancing the README and solicited input from tokenomics specialists.
The idea entails forking “cosmoshub4,” retaining the present software but establishing a separate plan with decentralized development teams, exceeding the decentralization level of Gaia.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/can-ethereum-break-free-from-its-sluggish-momentum/" target="_blank" rel="noopener noreferrer nofollow">Can Ethereum Break Free From Its Sluggish Momentum?</a>

Cosmos Founder Plans to fork Cosmos Hub Amid Governance Dispute

목차

TheNewsCrypto

2023년 11월 27일에 게재된 다른 기사

Missed Bitcoin’s Peak? Experts Suggest This Token as an Alternative Opportunity for Those Wanting...

Terra Classic soars 50% in a day; Is $0.10 next for LUNC?

Bitcoin’s Surge to $120,000: Analyst Predicts Massive Price Movement by 2024

HTX Resumes Bitcoin and Ether Services After $30 Million Hack

18 Countries, Including US and UK, Release Guidelines for Enhancing AI Security and Development

New Airdrop Incoming As Cosmos Co-Founder Moves To Fork Network Amid Governance Change

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!