IOTA Foundation officially called it quits with the founder of IOTA protocol citing divergent interests.
It is parting ways with David Sonstebo, a decision unanimously taken by the supervisory board.
IOTA Foundation and Iota Founder David Sonstebo part ways
IOTA, a distributed ledger technology that works on the Internet of Things, was founded by David Sonstebo; the founder has now parted ways with the IOTA foundation due to a substantial difference in interests.
IOTA foundation, which has 120 members, and the Iota founder have had several differences of opinion and interests lately, which led to the separation. As per the official announcement by the IOTA foundation, the foundation has parted ways with David Sonstebo, claiming that the decision was taken to safeguard the interest of IOTA protocol and its community. The announcement was shared through the Twitter handle of the IOTA token. The supervisory board of the foundation unanimously took the decision as” David’s interests, and the interests of the IOTA Foundation have diverged significantly.
David Sonstebo established IOTA five years ago to provide a scalable block solution to the users, which could keep a record and execute an Internet of Things based transactions involving multiple electronic devices. IOTA tokens, the native coin of the protocol, has gained high popularity since 2017.
The notification solidified the Foundation’s stance on keeping the interest of the community at the forefront, exclaiming that IOTA is not just about any single person and the Foundation parted ways with the founder of Iota as his actions did not align with the vision and ethics of the foundation. While the intricate details of the conflict were not publicly disclosed, Foundation stating that they respect David Sonstebo’s privacy. Thanking him for his contribution in Iota and commending his leadership, the foundation announced the separation. While things may have gone sour between the foundation members and the founder, Sonstebo, the announcement acknowledged that he would always be the Founder of Iota.
David Sonstebo founded the Iota with a vision to create a highly open-source and useful platform that would help the blockchain and application developers to work on and contribute to the development of the system. IOTA foundation looks after the various development and standardization aspects of the platform. It deals with the research and education to ensure better deployment and the manifestation of the Iota technology.
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