The founder of Cosmos Hub (ATOM) decided to hard fork the network, going against the outcome of a historic proposal voted on by the community.
The Cosmos community was literally divided after a critical vote that ended on November 26. The founder of Cosmos made a statement after this proposal was approved, which aims to reduce ATOM’s maximum inflation rate, current inflation rate and annual staking return. Jae Kwon, decided to split the network into two.
Jae Kwon In his statement on social media on November 26, in sharingto this offer “No” but still the vast majority voted “Yes” to win by saying respect He stated that he showed
On the other hand, he stated that he opposed reducing the inflation rate on ATOM and that under these conditions, “minorityHe said that they will establish a new network as a party. The current network of the new Cosmoshub4 It will be produced by forking the network and will be called “AtomOneHe stated that it will bear the name “
Jae Kwon is more aware of this new network. decentralized One to the vision He stated that it will be developed and supported by its own developer team. The founder invited everyone who voted “no” to this network:
We will just fork (hard fork) “cosmoshub4” to be the current software. But we will have our own plan and development teams to handle the transition. We welcome everyone who votes NO.
This new blockchain on ATOM in will be supported The founder stated the following:
I believe the final plan should include ATOM and ATMO/ATOM1 integration so there will be no mass sales for ATOM.
This bifurcation has been around for many years cosmos who think that it will end the ongoing conflict within the community and have a positive impact on the ATOM price. In Stride Zone head of strategy John Galt those told:
A bifurcation would be very positive. For years, political tension has hindered development of the Cosmos Hub. Most importantly, the ATOM 2.0 proposal was vetoed in Autumn 2022.
ATOM price fluctuated!
The escalation of tension among the community negatively affected the ATOM price. In the first stage, the offer will be finalized with a positive price ATOM on 26 November. 10% rising $9.10 from level for $9.98 reached.
Then, with the objection from the founder 7.45% falling ATOM, From $9.98 to $9.21 declined. According to CoinGecko data, ATOM is at the time of writing. from $9.52 is being traded.