Cosmos Co-Founder’s Controversial Proposal Triggers 11% Plunge In ATOM

In a bold move, Cosmos co-founder Jae Kwon has called for a significant shift in the blockchain’s direction following the controversial passing of NWV #848. This proposal was approved by the community’s voting mechanism, earning around 40% of the votes, and it was aimed at changing the blockchain’s native token inflation rate. Related Reading: Cosmos (ATOM) Bears Dominate As Bulls Struggle To Drive Price Kwon, expressing his dissent, is now advocating for a coordinated “split” in the Cosmos ecosystem, a proposal that could reshape the blockchain’s future. This development comes in response to what Kwon perceives as “deviating from the network’s core principles.” “AtomOne” Split, Cosmos Co-Founder Urges Community Engagement Kwon’s proposal, termed “AtomOne,” is not just a divergence but an exodus from the current state of Cosmos, encouraging community members who voted ‘No’ to join this new venture. The plan is still in its infancy and laid out in a GitHub repository, where Kwon invites community ideas and participation in shaping this new direction. He emphasizes a collaborative approach, urging the community to discuss and contribute to the formation of AtomOne. The essence of AtomOne lies in integrating $ATOM with $ATMO/$ATOM1, aiming to prevent a “complete collapse of ATOM by mass selling.” Kwon suggests that instead of abandoning ATOM altogether, there should be a way for it to coexist with the new fork. Cosmos Community Faces a Crossroads: Exodus And Innovation Kwon’s vision for AtomOne involves forking the current “cosmoshub4” but with its development path and teams, aiming for a more decentralized structure than the current Gaia. This new entity is open to all who opposed the recent vote, signaling a departure from the traditional paths of blockchain governance. Kwon highlights the power of the minority in blockchain ecosystems and the ability to self-organize and create antifragile structures. His message is clear: those who do not align with sound logic are destined to fail, and the future belongs to those who dare to exodus and build a better civilization. Kwon assures that this move isn’t about abandoning the original Cosmos hub but saving it and redefining its role. People are completely confused about the nature of blockchains what power the NO/NWV voters have altogether inside and outside the hub. The reality is that we exist, our principles and goals are aligned because they come from logic and we are about to demonstrate antifragility. The reality is that you cannot take control of a chain even with over 50% consensus, even 67%, because the minority can always self-organize even without your help. And the reality is that those who don’t make decisions based on sound logic always end up failing in the end. As the community gears up for this potential split, Kwon’s call for a departure to AtomOne reflects a pivotal moment in Cosmos’ history and a testament to blockchain governance’s dynamic and evolving nature. A conversation that will continue for “generations.” Related Reading: Cosmos Has A Grand Plan For 2024: Will It Crush Ethereum? As a result of the split proposal, ATOM has seen a spike in volatility, recording an 11% loss over the past few days. However, speculation is that the split will involve an airdrop poised to attract positive attention for the token. Cover image from Unsplash, chart from Tradingview

Name	Symbol	Market	Market Cap ($)	Algorithm
Cosmos Atom	ATOMUSD	Crypto	3,031,815,380	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.230	-2.82%	7.92	7.91	7.92

High Price	Low Price	Open Price	Prev. Close	52 Week Range
8.23	7.63	8.14	8.15	6.16 - 14.51

Exchange	Last Trade	Size	Trade Price	Currency
GEMN	21:33:04	0.624896	7.92	USD

Price x Volume	Volume	Base Symbol	Related Pairs
2,554,039.87	324,739.24	ATOM	ATOMEUR	ATOMGBP	ATOMBTC

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

ATOMUSD Cosmos Atom