Monero's "Decentralization Movement": Lead Developer Riccardo Spagni Retires

"Fluffypony" (Riccardo Spagni) is no longer the lead developer of privacy cryptocurrency Monero (XMR).

According to a statement on Monday, Fluffypony has been responsible for the development of the project since the birth of Monroe in 2014, and he still will not leave today, just changing his identity-alternate maintainer. Snipa is a long-time contributor to Monroe, and he will take over from Fluffypony.

Monero logo on a computer screen with a magnifying glass

It's unclear why Fluffypony stepped down, but he once expressed his thoughts on exiting the project. In May 2018, he said:

"I'm responsible for the maintenance of multiple projects. Last year I thought: I can't do this. For Monroe, I will always be a privacy advocate and part of the Monroe community, but the definition of my responsibilities needs to be reduced."

Fluffypony was not only the head of Monero, but also managed three cryptocurrency startups. And because he is one of the few celebrities in the Monroe community, he has become an informal person in charge.

Satoshi Nakamoto's departure has inspired the cryptocurrency community. A single influential person in a cryptocurrency project is likely to become a centralized "point of failure" and may have a conflict of interest; or if it is too dependent on an individual, in the event of an accident, it will only increase the risk of project failure Big.

Well-known cryptocurrency figures including Ethereum's Vitalik Buterin and Litecoin's Charlie Lee are trying to gradually reduce their influence. Both of them have said that they may gradually exit their projects in the future.

In fact, Fluffypony's other responsibilities were taken over by other contributors. For example, he would not be responsible for reviewing announcement emails sent to the Monroe community. He will also take on alternate roles for other tasks such as engineering, management, and server access.

Recently, several cryptocurrency exchanges, including OKEx Korea and BitBay, announced that they have decided to take Monero offline due to compliance risks. So can this Monero's "decentralization" campaign save the delisting crisis?