Jan 30, 2020 06:59 UTC
Jan 30, 2020 at 06:59 UTC
Tendermint to drop-down environment project!
There are a lot of developmental flagship projects that are aligned in the queue for many major companies. Most of them are based on the Environment aspect and most of the projects have a lot to go-ahead.
One such most anticipated project in the environment space is definitely Cosmos, the flagship project from Tendermint. There were a lot of expectations in the developmental stages of the product that gave a huge build-up in the development of the product.
Why the drop?
But everything dropped to dust when the CEO of Jae Kwon made an announcement that he is stepping down from the position of development head in the Cosmos Project. The cosmos is a very intriguing project from the company that had a huge scope in the initial propaganda but as time went by, the value and momentum of the project as well came down.
The reason behind the CEO leaving his position at the cosmos was mainly due to the commitments that the CEO had in other companies. As a part of the official announcement, he said that he is dropping down from the position of the development project due to a recent acknowledgment with a daughter company.
When Cosmos released into the market, it emerged as a very successful venture in the blockchain space with a new token introduction into the market. The native token of the cosmos, ATOM had a very good understanding and the performance graph of the token had a very good margin at the start.
There are also some key parameters in the blockchain space had to offer that made it quite unique and much more reliable to invest in compared to the other cryptocurrencies in the space. The company ranked in the top 20 positions in the 19th position in the world.
The CEO mainly is expecting to make amends to the Virgo project which is a side-by-side project to prefer and boost ICF operations. ICF is a non-profit venture which will take care of the development of Blockchain technology as well as the development of Dapps.
The CEO says that he is not entirely scrapping the project with regard to the scenario and he states that he is just re-affirming his priorities to work on more priority projects.
This means that there is a lot of expectations that can arise from the market with this regard as soon as possible.