Kwon Proposes Split, Introduces AtomOne
Cosmos co-founder Jae Kwon has announced a split from the Cosmos protocol and introduced AtomOne, a minimal fork of the Cosmos Hub application. This comes after the community passed Proposal 848, which aimed to reduce inflation on Cosmos. Kwon called for the blockchain to be split into two and named the hard fork AtomOne. He suggested that the forked chain should support both ATOM and the native ATOM1 token.
Proposal 848
There was disagreement within the Cosmos community regarding how much inflation is needed to secure the blockchain. Proposal 848, which was narrowly passed, reduced ATOM’s inflation rate from 14% to 10%. Supporters of the proposal argue that reducing inflation will incentivize staking without compromising security.
Kwon’s Opposition To Proposal
Jae Kwon has opposed Proposal 848 since its inception and throughout the voting period. However, his inability to influence the outcome indicates a decline in his influence within the community. Kwon has accused members of conspiring against him on multiple occasions.
Fork Could Be Bullish For ATOM
Some users believe that a hard fork could be beneficial for Cosmos and ATOM token holders by resolving years of internal conflicts. Experts predict that it could lead to a significant increase in trading volume and airdrops for ATOM and ATOM1 token holders.
Hot Take: A New Direction for Cosmos
Cosmos co-founder Jae Kwon’s decision to split from the protocol and introduce AtomOne signifies a new direction for Cosmos. The split comes after disagreements over inflation rates and accusations of conspiracy within the community. While this may create short-term uncertainty, it could ultimately lead to innovation and growth for Cosmos. Only time will tell how this split will impact the future of ATOM and the Cosmos ecosystem.
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