Cosmos co-founder Jae Kwon has taken a definitive stand against the recent decision to cut ATOM’s production rate. Despite his opposition, the proposal to reduce the maximum inflation rate passed, leading Kwon to announce a major fork of Cosmoshub4.
Jae Kwon’s vote against the proposal to reduce ATOM’s inflation from 20% to 10% was not enough to sway the outcome. As per the details shared on Wu Blockchain’s recent post, the decision to slash the inflation parameter was contentious, fueling debates about its potential impacts on network security and token valuation.
In a move that underscores his commitment to a decentralized vision, Kwon has announced the creation of a new network, AtomOne. Managed by an independent plan and development team, AtomOne aspires to achieve a heightened level of decentralization, diverging from the current trajectory of the Cosmos Hub.
Interestingly, the price of ATOM has been trending upward amidst these unfolding events, as noted by CoinGecko. This uptick in value comes after the proposal’s passage, reflecting the market’s complex and often unpredictable response to significant governance changes within leading blockchain networks.
Kwon’s decision to fork Cosmoshub4 and establish AtomOne signals a bold new chapter in the Cosmos story. This move is not just about creating another blockchain network; it’s about adhering to principles and visions for what decentralized ecosystems should embody. AtomOne represents a recalibration of those ideals, inviting members of the Cosmos community who share this perspective to join in its evolution.
At the time of writing, the native ATOM token of Cosmos is trading at $8.98, per CoinMarketCap, exhibiting some volatility amid these developments.
The creation of AtomOne, therefore, is more than a mere technical fork; it’s a philosophical and strategic divergence, offering an alternative path for those within the Cosmos ecosystem. As the market reacts and the community adjusts, the launch of AtomOne will be a critical event to watch, potentially setting new precedents in blockchain governance and community dynamics.
