The post Cosmos (ATOM) to Get New Fork in Questionable Decentralization Push appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The Cosmos (ATOM) ecosystem is undergoing one of the most challenging times in its history as founder Jae Kwon has revealed plans to fork the network to create a new chain. Cosmos turmoil: Origin Earlier the Cosmos ecosystem was exploring avenues to revamp its tokenomics in a bid to make ATOM more sustainable in the long run. One way agreed by the community was to implement a drastic ATOM production reduction, a proposal that was put up for a vote. Fortunately for the protocol, the proposal passed in what seemed like the start of a new dispensation for all. As one of the critics of the move, Jae Kwon revealed his displeasure at the outcome of the vote, noting that he voted against the proposal considering the fact that Cosmos, as it stands, is on a path of self-destruction. Despite building the chain and watching it grow, Jae Kwon is not abiding by the tenets of decentralization that Cosmos embodies and has revealed plans to create a new network, dubbed AtomOne by forking Cosmoshub4. In a long thread posted on X, Jae Kwon expressed his displeasure, citing the fact that the majority of the votes that supported ATOM production reduction came from newly purchased coins, a showcase that suggests the entire process was hijacked along the way. He then…

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Filed under: News - @ November 27, 2023 10:24 am