Blockchain protocol Algorand’s ceo Steven Kokinos has announced he’ll be departing his position to pay attention to projects associated with scaling adoption.
Inside a Wednesday Twitter thread, Kokinos stated he’ll be transitioning from his role as Algorand, where he labored as Chief executive officer from October 2018 after departing software development company Fuze. Based on Algorand, Kokinos will stay in the firm like a senior advisor involved with “key projects” until 2023 while former chief operating officer W. Sean Ford will behave as interim Chief executive officer.
“[Kokinos] continues to be instrumental towards the initial success in our business, so we appreciate his dedication to a seamless transition,” stated Algorand founder Silvio Micali. “Sean is well positioned to work with me to help keep the organization operations running business as always, and also to allow us to transition Algorand to the next phase of growth.”
Today I wish to tell the #algofam that I’m transitioning from my current role as @Algorand’s Chief executive officer to pay attention to key projects within the @Algorand ecosystem that can help scale adoption. (a ).
— Steven Kokinos (@stevekokinos) This summer 27, 2022
The cost of Algorand’s token (ALGO) didn’t appear to be prone to the announcement, rising under 1% within the last hour to achieve $.31 during the time of publication. The ALGO cost has fallen roughly 87% since reaching an exciting-time high of $2.37 in September 2021.
Within an April interview with Cointelegraph, Micali stated he expected “speculation will appear reduced, and real-world use installments of the blockchain will start” over the following year according to more technology and elevated scalability. They behind the Algorand protocol formerly promised to really make it a carbon-negative blockchain by applying a “sustainability oracle.”